Asia is where the drama in currency currently resides.
The Japanese yen found support today following South Korea's decision to declare martial law, prompting a flight to safety across markets. The South Korean won tumbled to ₩1,444 at one point, its lowest since October 2022 (now trades at ₩1,416).
Over the weekend, Bank of Japan Governor Kazuo Ueda signaled...
When considering trends, it's important to understand that markets tend to move in measured steps.
Looking at the Bitcoin chart, the $69,000 high reached in 2021, followed by the low in 2022, represented a move of $53,540.
Now that Bitcoin has broken out to a new record high in 2024, we project a measured move extension of the same size—$53,540—which points to...
Federal Reserve Chair Jerome Powell’s speech will be a key event this week.
Three weeks ago, Powell was grilled about the economic implications of former President Trump's potential return to office, following the Fed's interest rate decision. A continuation of these discussions is expected on Wednesday.
Federal Reserve Bank of Atlanta President Raphael Bostic...
President-elect Donald Trump issued a sharp warning to BRICS nations over the weekend, urging them to "find another sucker" and threatening 100% tariffs on any efforts to create an alternative currency that challenges the U.S. dollar’s status as the world’s reserve currency.
Brazilian President Luiz Inácio Lula da Silva has been a prominent advocate for reducing...
The Australian Dollar found support following comments from Reserve Bank of Australia (RBA) Governor Michele Bullock, where she reiterated that inflation remains too high to consider interest rate cuts in the near term.
Currently, the AUD/USD pair is trading near 0.6500. However, the daily chart shows a lower high and lower low, indicating potential for further...
We're seeing more "sell the fact" action on the Trump trade and hearing a lot of talk about month-end dollar outflows.
This seems to be factoring into price action today, with the dollar down across the board.
Dollar weakness has been especially prominent against the yen, where speculation of a December BOJ rate hike is ramping up. The euro has also gained...
The New Zealand dollar staged an unexpected rally following the Reserve Bank of New Zealand's (RBNZ) latest interest rate decision. Analysts struggled to pinpoint a definitive hawkish signal in the central bank’s messaging.
Technical factors did support the rally, as NZD/USD broke above the 100- and 200-hour moving averages. However, sellers have tempered the...
Currencies are already in recovery mode.
After absorbing the news of President-elect Trump vowing to impose tariffs on China, Canada, and Mexico, even the Canadian dollar, which slumped to its lowest level since mid-2020 against the buck, has been trying to find some demand.
Bank of Canada Governor Mendez is on the docket today, and it will be interesting to see...
Selling the currency of the U.S.'s largest trading partner, the Mexican peso, could be one of the clearest Trump trades.
The Mexican peso slid over 2% on Tuesday, now trading above 20.8 per dollar for the first time since July 2022.
Posting on his Truth Social platform, Trump said one of his first executive orders will be to impose a 25% tariff on all products...
It seems financial markets are feeling more at ease following President-elect Trump's nomination of Scott Bessent as the next Treasury Secretary. Bessent has expressed a willingness to implement tariffs gradually to avoid shocking the market.
On the back of this, there has been renewed risk appetite and some mild profit-taking on Trump trade dollar long...
Gold (XAU/USD) plunged during Monday’s US session, dropping nearly 3.5% from its recent peak following reports from Axios that Israel and Hezbollah may have agreed to a ceasefire.
Gold has fallen below key technical levels, trading under its 200-, 100-, and 50-day Simple Moving Averages after recently peaking around $2,720.
Possibly adding to the downward...
State Street Global Advisors has voiced concern that the current cryptocurrency rally is diverting attention from gold. Despite the competition, gold posted its strongest weekly performance in almost 2 years.
Currently trading less than 3% below its October 30 peak, XAU/USD maintains an upward trajectory within an ascending channel on the 1-hour chart. The...
We'd like to take a moment to focus on the technical picture for the euro right now.
If we use EUR/USD as a proxy for direction in the FX market, the longer-term euro chart could provide valuable insights.
In recent weeks, the euro has come under intense pressure, with the single currency sinking to a fresh 2024 low and gravitating back towards the 2023 low...
Goldman Predicts Bigger Cut from RBNZ Next Week
Goldman Sachs suggests the Reserve Bank of New Zealand (RBNZ) may pursue a larger-than-expected rate cut next week, floating the possibility of a 75-basis-point reduction—beyond the 50-basis-point consensus among market participants.
Goldman argues that weak economic fundamentals, including soft labor market...
Gold extended gains for a third consecutive session, crossing $2,650 per ounce, as investors sought safety following an escalation in the Russia-Ukraine conflict.
Meanwhile, Bitcoin is also performing well and doesn't appear to be acting totally as a risk-on asset in this environment, surging to a fresh record high. President-elect Donald Trump’s administration...
Geopolitical tension is impacting markets this Tuesday after President Biden gave the green light for Ukraine to use long-range missiles supplied by the U.S. to strike inside Russia.
Russia has not been pleased with this development and has responded by stating that any decision to use long-range missiles against Russia would lead to heightened...
Gold extended gains for a second session, climbing to $2,630 as tensions between Russia and Ukraine reignited demand for safe-haven assets.
Russia unveiled an updated nuclear doctrine Tuesday, paving the way for potential use of atomic weapons, just as Ukraine deployed U.S.-manufactured missiles on Russian soil for the first time since the war began.
Russian...
Gold is poised to break a six-session losing streak after testing its 100-day moving average last week. The next potential target lies near the 50-day moving average at $2,654.
WTI crude oil futures surged 3% to $69 per barrel on Monday after Norway's Johan Sverdrup oilfield, the largest in Western Europe, halted production due to an onshore power outage.
Both...
