British Pound Latest: GBP/USD Still Searching for Convincing Support
The British Pound hit a 37-year low on Wednesday against the US dollar and despite a small bounce, lower prices look increasingly likely.
DAX, FTSE Open Marginally Higher, Technical Roadblocks and ECB Conference Provide Downside Risks
The DAX rallied to record its best day in a month gaining 280-odd points while the FTSE lagged.Technical roadblocks and ECB conference lie in wait.
EUR/JPY IG Client Sentiment: Our data shows traders are now at their least net-long EUR/JPY since Jun 10 when EUR/JPY traded near 141.33.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.
Gold Price Gets Reprieve on US Dollar Pause Ahead of ECB. Will XAU/USD Turn?
Gold has held onto overnight gains as the US Dollar took a breather from rallying despite hawkish Fed speakers. The ECB meet later today. Will higher rates there undermine XAU/USD?
Dollar Relative Risk, Rates and Growth Extends Extreme GBPUSD, USDJPY and EURUSD levels
The S&P 500 and other risk-leaning assets took a jog higher this past session without much support from growth nor monetary policy outlook. That said, the more remarkable fundamental pressure…
Crude Oil Prices May Fall as EIA Report Nears Amid China Lockdown Woes
Crude oil prices are staging a recovery in Asia-Pacific trading after a sharp drop on Wednesday amid broadening Chinese Covid lockdowns. US inventory data from the EIA is in focus.
Euro Gains Some Traction on US Dollar Lull Ahead of the ECB. Where to for EUR/USD?
The Euro held onto the overnight rally against the US Dollar despite Fed speakers restating their hawkish stance ahead of the ECB meeting today. Will a rate rise boost EUR/USD?
USD/JPY Rate Rally to Persist as RSI Holds in Overbought Territory
The overbought reading in the Relative Strength Index (RSI) likely to be accompanied by a further advance in USD/JPY like the price action from earlier this year.
Dow Jones Soars as Fed Blackout Period Starts, ASX 200 at Risk Due to China Economic Woes
The Dow Jones soared the most in almost one month, setting the stage for gains in Asia. But, the ASX 200 may struggle to find follow-through due to economic risks…
AUD/USD Gains Appear Untenable Amid China Lockdown Woes Ahead of Australian Trade Data
AUD/USD rose overnight as markets shifted into risk assets. However, China's Covid lockdowns make an Australian Dollar rally unlikely. APAC traders have Australia's trade data in focus.