Gold futures are showing a mildly bullish recovery today, with the latest structure pointing to higher value acceptance after the May 4 low. The current gold analysis score is +3.0 / +10, which means the market has improved, but the setup is not clean enough to justify chasing strength near the upper edge. The key area for traders is…
NZD/USD appreciates after registering modest losses in the previous day, trading around 0.5940 during the Asian hours on Friday. The pair holds gains as the New Zealand Dollar (NZD) receives support from improving market sentiment driven by the de-escalation of renewed tensions in the Middle East. The US military’s Central Command (CENTCOM) stated that United States (US) forces intercepted…
EUR/GBP has formed lower highs and found support around .8620 to create a descending triangle pattern. Is another move back to the resistance due?
Japan intervened in forex markets during early May holidays in addition to April 30 operations; BOJ data suggests total spending of around $67 billion across both periods to support the yen. Info via Reuters. Summary: Japan intervened in the foreign exchange market during the early May holiday period as well as on April 30, in repeated bouts of yen-buying…
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is inching lower after registering modest gains in the previous day and trading around 98.20 during the Asian hours on Friday. The Greenback softens amid improving market sentiment driven by the de-escalation of renewed tensions in the Middle East. Separate statements…
The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. Injects 500mn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%. This article was written by Eamonn Sheridan at investinglive.com.
The EUR/USD pair posts modest gains around 1.1730 during the early Asian session on Monday, supported by growing optimism surrounding a potential US-Iran peace deal. Markets might turn cautious later in the day ahead of the highly-anticipated US Nonfarm Payrolls (NFP) report for April. The US President Donald Trump administration has been waiting for Iran to respond to its…
Markets whipsawed Thursday as Iran deal skepticism returned, sending oil on a sharp intraday swing and pulling equities from record highs while the U.S. dollar recovered.
A US trade court struck down Trump’s 10% global tariffs 2-1, ruling the duties were not justified under a 1970s trade law; the White House had cited a $1.2 trillion goods trade deficit as grounds. Summary: The US Court of International Trade ruled 2-1 against President Trump’s 10% global tariffs, finding they were not justified under the Trade Act…
OCBC strategists Sim Moh Siong and Christopher Wong describe USD/IDR as easing from overbought territory as hopes of a US–Iran deal support sentiment. Bank Indonesia’s (BI) tighter rules on cash FX purchases and comments that the Rupiah (IDR) is undervalued back stabilization efforts. They note intact bullish momentum but early RSI rollover, with support at 17,267 and 17,200 and…
