The Japanese Yen is one of the worst performing currencies in 2024. It has weakened 5.4% against the USD. Forces have been stacked against Yen ever since the US Federal Reserve started raising interest rates at a record pace. In sharp contrast, ultra loose monetary stance from the Bank of Japan (BoJ) resulted in wide policy rate differential of 5% between...
Financial Analysis: EURUSD Pair Projections for Q1, Q2, and Q3 2024 Disclaimer : This analysis is based on the information available as of the provided date and is subject to change. It should not be considered as financial advice. Readers are encouraged to conduct their own research before making investment decisions. Ifo Report and Current Business...
Gold is currently trading around 494.92 RMB per gram in China as of July 25, 2023. Based on the technical analysis on XAUCNY showing we are currently in wave 5, subwave 4 of an upward trend, the prediction is that by January 2025, the price for 1 ounce of gold will reach 16575 RMB. Given that 1 ounce equals 28.3495 grams, a price of 16575 RMB per ounce implies...
Bullish EUR/AUD on Dovish RBA Monetary Policy Reunion The Reserve Bank of Australia (RBA) held its latest monetary policy meeting on October 3, 2023, and decided to keep the official cash rate (OCR) at 4.10%. This was widely seen as a dovish move, as markets had been expecting a 25 basis point rate hike. The RBA's decision was likely influenced by a number of...
Hey Traders, In today's trading session, our focus is on monitoring EURUSD for a potential buying opportunity around the 1.1100 zone. From a technical standpoint, EURUSD has successfully breached a significant resistance level at 1.1100. As a result, we are now observing the possibility of a retracement of this breakout, which could potentially lead to further...
Hey Traders, In the upcoming week, we are closely monitoring the DXY (U.S. Dollar Index) for a potential buying opportunity around the 102.600 zone. The DXY has been trading in a downtrend, but it recently broke out of this trend. However, it is currently in a correction phase, attempting to retrace for the second time before potentially continuing its upward...
Gold is arguably the most sensitive commodity to monetary policy. The metal operates more like a pseudo-currency than a regular commodity (a regular commodity’s price is driven by the balance of supply and demand, gold is driven by many of the macro determinants of currencies). After hiking rates every meeting since February 2022, the Federal Reserve (Fed) took a...
Hey Traders, In today's trading session, we are paying close attention to the AUDNZD currency pair, as we believe there might be an opportunity to buy around the 1.09600 zone. From a technical standpoint, AUDNZD is currently in an uptrend but experiencing a corrective phase. It is approaching a significant support zone around 1.09600, which adds to its appeal as a...
Dear Traders, I'd like to bring your attention to the current market conditions of GBPUSD. It is currently experiencing a downtrend but is undergoing a correction phase. The price is approaching a significant resistance zone at 1.26100, which coincides with the major trend. This area is worth monitoring closely. In addition, it's crucial to take into account the...
Despite sharp inflation, the Bank of Japan (BOJ) left YCC unchanged on March 10th. This was Haruhiko Kuroda’s last meeting as BOJ Governor. Japan is still struggling to stoke growth at risk of sustained stagflation. Hence, his decision to leave rates intact was no surprise. Kuroda left the YCC unchanged. Analysts expected him to scrap the YCC so that the new...
USD/JPY experienced a rally up to 135.13 last week but then retreated during the dollar softening. At the start of this week, the initial bias is neutral in the 4-hour chart since the market is waiting for the BoJ interest rate decision that will be released on Friday. Therefore, technically, a further rise is expected if the support level of 132.01 can be held....
In light of the precarious global economy and numerous contributing factors, such as deglobalization, the inflationary impact of the war in Ukraine, an aging population, and an overwhelming amount of debt, the Federal Reserve's role and efficacy in the current economic climate have come into question. Drawing on Jeff Snider's work, it is increasingly evident that...
Hey Traders, above is a technical overview on EURUSD and the most important zones to watch, Fed yesterday have threw some hawkish comments "rates are likely to be higher than previously anticipated", but before the next FOMC we have a couple of events to consider. First of all NFP and next week CPI data. If NFP comes again above expectations that will signal more...
Gold is expected to continue bullish trend on London session open due to bad PMI data. Bad PMI data is indicating reduced demand and reduced manufacturing outcome. Investors take it as an economical indicator leading to recessionary period. I am expecting the trend to continue until Powell speaks on Wednesday and give us direction where the monetary policy will...
Here is what the fundamentals are following the ECB rate decision today, words from ©Lloyds Bank European Central Bank (Dec): We're not pivoting The European Central Bank (ECB) raised interest rates today by 50bps, in line with expectations. It follows 75bp hikes in the last two meetings in September and October, and a 50bp rise in July. There was broad...
Despite facing the unknown external shock of a war, the Eurozone economy’s growth has been resilient in the first three quarters of the year. Eurozone Gross Domestic Product (GDP) rose by 0.3% quarter-on-quarter (QoQ) in Q3, easing from a 0.8% increase in Q2 2022 aided by the rise in government spending alongside an improvement in inflation adjusted trade surplus...
Goblin Capital presents you -- The most risky contrarian trade you can currently take -- Am I all in? Yes Do I have children? No Am I still young and not much to lose? Yes Do I have a lot of bad debt? No Will I financially recover if this trade goes South? Yes Therefore, my dear Goblins: I urge you to only play with money that you are willing to lose. Please...
The SNB (Swiss National Bank) are expected to hike interest rates tomorrow, which would send their rate above zero for the first time since 2011. The central bank entered ZIRP (zero interest rate policy) between 2011 – 2015 before switching to NIRP (negative interest rate policy) with a rate of -0.75%, where it remained until June this year. And with seemingly...