It would seem EURUSD is in consolidation ahead of the Fed and ECB events this week.
It appeared to be flirting with a breakout higher but it wasn't long until bulls abandoned ship, ahead of the recent highs in fact, in a sign that they had little confidence of achieving a substantial breakout ahead of the rate decisions.
Given the amount of uncertainty around...
The British pound has had a rather sleepy week, and the lack of activity has continued in Friday trade, as GBP/USD is hovering at the 1.32 line.
It has been a light calendar week for the UK, and today's data dump didn't have any effect on the drifting pound. The GDP report for September came in at 4.6% y/y, well short of the consensus of 6.6%. Manufacturing...
The pound has continued to push lower in recent days but continues to lack momentum, which could point to further weakness in the sell-off.
The most recent low came on reduced momentum again which suggests a corrective move may not be far away. It's worth noting that divergences between price and oscillators aren't reversal indicators on their own, rather a...
Gold has been struggling for direction for a couple of weeks now, which is surprising as it's one of the few instruments that hasn't seen significant volatility since the Omicron announcement.
That may be because the outcome isn't clear if the new variant does turn out to be as worrying as first feared. Central banks are in no position to just turn the taps on as...
The euro is trading lower against the dollar again after a brief rebound late last month. But was the rebound brief or is there more to come?
While the one-hour chart appears to show no shortage of momentum, the latest daily candle appears to indicate some hesitation. That appears to be contradictory, but the fact that this happened so close to the prior lows may...
The euro has been trending lower against the pound all year but could that be about to change as it draws to a close?
The pair has recovered well over the last few weeks and while the top of the descending channel is arguably the level it needs to overcome to break that trend, a strong signal could come sooner.
The 200/233-day SMA band has been capping rallies...
It's been a rough time for the pound, particularly against the yen and this week has seen it cross into bearish territory.
The pair had been on a strong uptrend but a weakening of the UK economy and pared-back interest rate expectations for the Bank of England started the decline from the highs which was finished off last Friday by the Omicron...
Brent crude has been tumbling in recent weeks, forced lower by slowing growth, a coordinated SPR release and this past week, the new Omicron variant.
OPEC+ had an opportunity to arrest the slump today and at first, it appeared they'd passed up the opportunity. But the decision to maintain not change their planned increases each month came with an important...
The pound has been trending lower over the last month or so but the decline may finally be losing momentum.
It's found some support around 1.32 but momentum has been slipping over the last week or two, creating divergences on both the daily and 4-hour chart, which may suggest a correction is coming.
If the pair has bottomed for now, how deep a correction can we...
EURUSD is already running into resistance, so quickly after rebounding off the lows around 1.12 late last week.
The euro started to make its comeback in recent days after coming under a lot of pressure this month but already it's seeing resistance around 1.14, the first major test to the upside.
This coincides with the most recent area of resistance, as well as...
The euro is in negative territory on Monday, giving up some of Friday's huge gains. In the North American session, EUR/USD is trading at 1.1268, down 0.36% on the day.
Uncertainty led to panic in the financial markets last week, as the Omicron variant of Covid-19 was detected outside of South Africa, leading to fears that the variant could cause a massive spike...
The New Zealand dollar has extended its losses on Friday, after five straight losing sessions. NZD/USD is currently trading at 0.6823, down 0.45% on the day.
Risk apprehension is sharply lower in the markets today, as a Covid variant which has spread in South Africa is causing concern around the world. Two cases of the variant were detected in Hong Kong today...
The euro has reversed directions and is back above the 1.1200 level. EUR/USD is trading at 1.1222, up 0.19% on the day.
Where is ECB policy headed? That is no easy question, as we are getting mixed messages from ECB officials. Governor Christine Lagarde has pushed back against market bets of a rate hike in late 2022. Earlier this month, Lagarde said that it was...
Or more to go?
Oil prices are on the rise again after a correction over the last month but how much support does it now have?
It didn't take long for oil to rebound after the US, China, India, Japan, UK and South Korea announced their coordinated SPR release. A sign that the market had fully priced in the announcement, perhaps even that it isn't the game-changer...
Correction may be coming
The dollar has been on a strong run the last couple of weeks, which when coupled with the broad weakness we've seen in the euro has led to an accelerated sell-off in the EURUSD pair.
Higher inflation, a strong consumer and a strengthening labour market has backed the Fed into a corner, despite strong pushback on rate talk over recent...
Or is there too much momentum?
It's been a wild ride for gold this past few weeks and the latest moves highlight just how much uncertainty there is in the markets right now.
The yellow metal saw incredible support earlier this month as inflation indicators flashed and central banks pushed back against accelerating their policy response.
The transitory claim...
The British pound is in negative territory in the Friday session. GBP/USD is currently trading at 1.3450, down 0.35% on the day.
UK retail sales for October surprised the markets, as the gain of 0.8% m/m was the first gain in five months. Clearly good news, but the improvement could well be due to early Christmas shopping rather than a change in the mindset of...
The Japanese yen has edged higher on Friday. USD/JPY is trading at 113.93, down 0.28% on the day.
Japan's CPI edged up by 0.1% y/y in October, identical to the September gain. Higher energy costs were behind the increase, which would have been higher if not for a sharp drop in mobile phone fees. These inflation figures are certainly much more subdued than what...
