Category: Range
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USD/CAD closes in on the top of the multi-year range
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The old saying goes that if the United States catches a cold, Canada catches the flu. The market is certainly sending warning signals about the US economy with yields falling, but the USD/CAD pair has yet to make a decisive move. But that moment may not be far away as…
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ForexLive Asia-Pacific FX news wrap: Yen swings again, more than a big figure range
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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US inflation (PCE) data due imminently – here is the critical range to watch
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I posted this during the Asian time zone, and I’m repeating it here. Before I do that, check this out: — The core personal spending data is due at 0830 ET and is the focus of attention. You can see the median estimates below in the table. The ranges for…
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Next Most “Hated” Range Will Be Between $75,000 And $95,000
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After the concerns that prevailed earlier this week, Bitcoin has rebounded sharply in spot market prices. At the time of writing, the value of the world’s most valuable currency is up 20% from its lows in July 2024. Given the rally since July 25, there is a high chance that…
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US data focus for Tuesday – June 2024 retail sales – the range of expectations to watch
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On Tuesday at 12:30 GMT, or 08:30 EST, we will get retail sales for June 2024. Consensus forecasts are shown in the table below. This image is taken from ForexLive’s economic data calendar, You can access it here.. As for the ranges, for monthly retail sales: Data results that fall…
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Chart Art: Spot Gold (XAU/USD) Is Trading Near The Top Of A Long-term Range!
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The overall weakness of the US dollar helped push spot gold prices to multi-week highs. Is the technical resistance level a trigger for a downtrend in the commodity? Or will we see a launch in the next few days? Gold (XAU/USD) 4 hours Chart by TradingView In case you missed…
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As Powell’s testimony goes on, the USDCAD is stuck in an up and down range.
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The USDCAD currency pair has been trading in an up and down range for the past few days. Yesterday’s low was 1.36238. Today’s high was 1.3647. That’s not much movement. It is within the range of its 100-day moving average between the levels at 1.36369, and the price has been…
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USD/CAD bounces from the range low after soft Canadian jobs report. What’s next
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USD/CAD Daily The Canadian dollar fell after the unemployment rate rose in June to 6.4% from 6.2%. The market had expected it to rise slightly to 6.3% but the economy lost 1,400 jobs in the month and signs of weakness have mounted. That’s why the recent drop in USD/CAD could…
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USDCAD moves down toward low of multi-week range ahead of jobs reports on Friday
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The USD/CAD pair continued its downward movement today on the back of lower interest rates and weaker US data. Technically, the price moved below the 100 and 200-bar moving averages on the 4-hour chart yesterday, and remained below those moving averages in the early Asian session today, before moving lower…
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Rupee to trade in narrowest range in about 30 years on RBI’s actions: Reuters poll By Reuters
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Written by Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade in its narrowest range in nearly three decades next year as the Reserve Bank of India continues to maintain a tight grip on currency movements, a Reuters poll showed. While most emerging market currencies have underperformed against the…
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Jobs, inflation data may break the US Treasury market out of narrow range By Reuters
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By David Randall NEW YORK (Reuters) – A series of upcoming economic reports and testimony from Federal Reserve Chairman Jerome Powell before Congress could push U.S. government bonds out of a tight trading range. Yields on benchmark 10-year US Treasury bonds, which move inversely with bond prices, have risen between…
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Asia FX weakens as dollar steadies; yen back near intervention range By Investing.com
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Investing.com — Most Asian currencies fell on Wednesday as anticipation for key U.S. inflation data left traders largely favoring the dollar, with the Japanese yen approaching levels that sparked the latest government intervention. The Australian dollar was an outlier during the day, rising sharply after a hotter-than-expected inflation reading sparked…
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USDCAD bounces higher today but only to the 50% midpoint of the 2-month trading range
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Heading into the end of the trading week, the US dollar rose against the Canadian dollar after hitting a new low during the previous week on the trading day. On the way to the bottom, the price returned below the 200-bar moving average on the 4-hour chart at 1.3687. It…
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U.K. Inflation Drops To The BOE’s Target Range For The First Time Since 2021
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As expected, UK consumer prices rose 2.0% year-on-year in May, slowing from the 2.3% annual increase in April and recording their lowest readings since July 2021. The core CPI, which excludes volatile items such as food and energy, rose 3.5% year-on-year after a 3.9% year-on-year rise in April. On a…
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Inflation seen rising above Bank of Israel target range
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Israel’s Consumer Price Index (CPI) for May will be published tomorrow and the outlook is not optimistic. Analysts agree that the consumer price index rose by 0.5%-0.6% in May, bringing the inflation rate over the past 12 months to 3.1%-3.2%. This will be the first time this year that inflation…
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Chart Art: Spot Gold (XAU/USD) Is at the Bottom of a Range!
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Spot gold (XAU/USD) is testing the bottom of the technical support area! Will gold experts benefit from the deal? Or will fundamentals keep buyers away? Gold (XAU/USD) daily Chart by TradingView In case you missed it, gold prices fell sharply on Friday after a stronger-than-expected US non-farm payrolls report. This…
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AUDUSD Technical Analysis – We are back at the bottom of the range
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Basic overview The US dollar returned strongly last Friday after the release of the strong US non-farm payrolls report, where the data surprised with strong growth in jobs and wages. There were also negatives such as high unemployment, but overall, we can say it was a good report. The data…
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EURUSD tests 100 day MA target. Below the 38.2% retracementof the May range
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EURUSD reaches the 100-day moving average US non-farm payrolls came in stronger than expected. This led to the US dollar and EUR/USD rising to new lows during the week. The down move has now reached – and is now through – 38.2% of the up move from the May 1…
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US ISM PMI data due Monday, the range of estimates (& why they’re crucial to know)
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The S&P Purchasing Managers’ Index (PMI) is the warm-up, scheduled for release at 9.45am EST. The ISM Manufacturing PMI is in greater focus, due to be released at 10am. By looking at the forecast range compared to the consensus average (“expected” in the screenshot above) for the ISM data point,…
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BofA sees further dollar depreciation, expects G10 FX to stay in range By Investing.com
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Bank of America (BofA) analysts on Monday provided insights into the current state of the G10 foreign exchange (FX) markets, citing a general feeling of disappointment among investors over the lack of market volatility. Despite the recent reversal in the US Dollar (USD), the major currency pairs did not move…