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Technical Analysis
EUR, GBP, Technical Analysis
EUR/GBP Price – Euro pulls back from the top of a triangle pattern
The Euro (EUR) posts moderate losses against the British Pound (GBP) on Wednesday, as the previous two days’ recovery has been capped again at a key resistance area between 0.8580 and 0.8585, which holds the top of an ascending triangle pattern. Macroeconomic data is scarce in both the UK and the Eurozone on Wednesday, and the Euro and the Pound […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Institutional, Technical Analysis
RBNZ raises interest rates again, yet NZD falls after the decision
The Reserve Bank of New Zealand raised the Official Cash Rate (OCR) by 25 basis points to 2.75% on Wednesday. Annual CPI inflation accelerated to 4.1% in Q2 , largely due to higher fuel prices linked to the conflict in the Middle East. However, the RBNZ emphasized that underlying inflationary pressures remain considerably weaker. Excluding […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies, Technical Analysis
WTI declines to near $89.00 despite US-Iran tensions
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $89.10 during the early European trading hours on Wednesday. WTI declines as traders take some profits. However, the potential downside of black gold might be limited amid ongoing tensions in the Middle East. Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed it has launched a “heavy” ballistic missile attack on […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
INR, Technical Analysis, USD
Indian Rupee holds onto two-month high against US Dollar
The Indian Rupee (INR) opens flat at around 94.95 against the US Dollar (USD) on Wednesday, but is close to its two-month low of 94.80 posted the previous day. The Indian currency is expected to face selling pressure against the US Dollar, as the latter has strengthened due to increasing expectations that the Federal Reserve (Fed) will […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
GBP, Technical Analysis, USD
British Pound declines to near 1.3500 as US-Iran tensions rise
The GBP/USD pair declines to near 1.3500 during the early European trading hours on Wednesday. Ongoing tensions in the Middle East provide some support to a safe-haven currency such as the US Dollar (USD) against the British Pound (GBP). All eyes will be on the US August jobs report later on Friday. CNBC reported that the US […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
EUR, Technical Analysis, USD
EUR/USD Weakens below 1.1600, further consolidation cannot be ruled out
The EUR/USD pair loses traction to near 1.1575 during the early European session on Wednesday. The US Dollar (USD) strengthens against the Euro (EUR) amid hawkish Federal Reserve (Fed) stance and escalating Middle East geopolitical tensions. Traders will keep an eye on the Eurozone Retail Sales and US employment data, which are due on Friday. Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed it […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
AUD, Technical Analysis, USD
AUD/USD Price Slides to over one-week low; 0.7125 confluence holds the key
The AUD/USD pair drops to a one-and-a-half-week low during the Asian session on Wednesday and currently trades around the 0.7135 region, down for the second straight day. The initial market reaction to Australia’s better-than-expected Q2 GDP print fades rather quickly amid some follow-through US Dollar (USD) buying, bolstered by rising US Federal Reserve (Fed) rate hike bets and escalating US-Iran tensions. […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Metals, Technical Analysis
Gold bounces off four-week low; remains vulnerable near $4,300 amid Fed hike bets
Gold (XAU/USD) recovers slightly from a nearly four-week low, which it touched during the Asian session on Wednesday, and currently trades just above the $4,300 mark, still down over 0.50% for the day. The escalating Middle East conflict lifted crude oil prices to a fresh high since July 24, stoking inflation fears and reaffirming US Federal […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Institutional, Technical Analysis
Global bond market sell off
Key takeaways Global bond market sell off haunts markets Global sovereign bonds are selling off as we start a new month. The UK is, unsurprisingly, taking the biggest hit. Two and 10-year yields rose by 10 basis points at one point on Tuesday, and are currently higher by 7 and 8bps respectively. The UK’s debt […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Metals, Technical Analysis
Gold Drops 1.5% – Are Precious Metals Heading Lower Again?
The rise in oil prices is putting pressure on the precious metals market today, with gold down nearly 1.5% and silver falling close to 2.5%. The move comes alongside higher bond yields and growing expectations for faster interest-rate hikes in the U.S. Volatility may increase this afternoon when the U.S. JOLTS and ISM Manufacturing data […]
by Currency Hedger
- 0 Comments
- 2 weeks ago