AbdallaAmgad

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GBP/USD Analysis and News: OBR Slashes 2022 Growth Forecast to 3.8% from 6% GBP Languishes Around Lows as Sunak Announces Cautious Spring Statement Main Points: In light of the worsening economic outlook, the OBR’s 2022 GDP forecast had been slashed to 3.8% from 6.0%. Meanwhile, inflation is seen averaging 7.4% for the year with a peak rate at close to 9% in Q4....

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EUR/CHFhas seen a pullback but remains on firm footing for the moment Short-term momentum favours the Euro, but can it convert to further gains? EUR/CHF TECHNICAL ANALYSIS Similar to EUR/USD, EUR/CHF made a 7-year low 2-weeks ago at 0.99728. It has not traded at these levels since the Swiss National Bank (SNB) abandoned protecting the so-called “Swissy” from...

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The top performing market is the Yen crosses which continue to soar despite ‘risk’ hesitation, but will Ukraine and monetary policy updates change that mix? Over the past few years, I’ve watched the various risk asset types that I track rise and fall depending on the general conditions. Throughout this course, the FX-based ‘dividend’ play in carry trade has...

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EURO, EUR/USD, US DOLLAR, CRUDE OIL, JPY, ECB, LAGARDE, FED, POWELL - TALKING POINTS The Euro has been climbing off a 2-year low as the ECB scopes inflation APAC equities went south while commodities had a mixed day in Asia All eyes on ECB and Fed leaders today.Can EUR/USD continue higher? The Euro was steady against the US Dollar in Asia today ahead of comments...

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New Zealand Dollar steadies after overnight drop versus haven-charged US Dollar Oil prices surge as the chances for western actions against Russian oil exports grow NZD/USD struggles below the 38.2% Fibonacci retracement level as momentum cools WEDNESDAY’S ASIA-PACIFIC OUTLOOK The risk-sensitive New Zealand Dollar fell overnight versus the haven-charged US...

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BRITISH POUND OUTLOOK: Hopes for a ceasefire in Ukraine have provoked a dramatic reversal in assets that were beaten down over the past two weeks. GBP/JPY and GBP/USD rates have traded sharply higher over the past 24-hours, while EUR/GBP rates have reached channel resistance. Recent changes in retail trader positioning suggest a bearish bias for GBP/JPY and...

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The British Pound held ground today as Fed and BoE rate hikes loom The British Pound has taken a breather from its downtrend in anticipation of rate hikes from both the Federal Reserve and the Bank of England in the next 2 days. The relative calm reflected the broader market taking stock ahead of the central bank meetings. Wall Street provided APAC equity indices...

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The Australian Dollar (AUD) against the Japanese Yen (JPY) is an exciting pair for its relation to risk. The pair is often among one of the most highly correlated pairs to price action in US equities on a short to medium term basis. The pair generally tends to rise in a low risk environment on carry flows while the opposite is true when we see a 'risk-off'...

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EUR/USD struggling to make any headway. US dollar strength underpinned by elevated US Treasury yields. Federal Reserve chair Jerome Powell is expected to announce the first in a series of 0.25% interest rate hikes at tomorrow’s FOMC meeting. According to market thinking, this will be the first of seven quarter-point hikes this year with four more expected in...

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USD/JPY: Retail trader data shows 21.01% of traders are net-long with the ratio of traders short to long at 3.76 to 1. Our data shows traders are now at their least net-long USD/JPY since Jan 05 when USD/JPY traded near 116.12. The number of traders net-long is 16.74% lower than yesterday and 36.19% lower from last week, while the number of traders net-short is...

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The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. Further, the 'Loonie' - as the Canadian...

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USD/CHF’s rally is still in progress and intraday bias remains on the upside. Further rise should be see to 0.9471 resistance first. Break there will resume whole rally from 0.8756 to 61.8% projection of 0.8756 to 0.9471 from 0.9090 at 0.9532. On the downside, break of 0.9318 minor support will turn intraday bias neutral first. In the bigger picture, medium term...

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EUR/GBP bulls move into a wall of resistance. EUR/GBP is on the move but it has run into a wall of resistance on the daily chart, hamstringing it to the downside. The price is correcting the daily bearish impulse and would be expected to turn lower at this area of resistance. In doing so, a downside continuation could be in the makings for the days ahead. From a...

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The US Dollar pulled back over 1% from its recent peak as the markets sighed a breath of relief on the announcement over night that Ukraine may consider a “diplomatic solution”. This solution would involve a commitment by Ukraine to neutrality but maintenance of all its territory. At the end of the North American session, the commodity price board was all red...

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The Euro is hitting fresh multi-month lows against a rampant US dollar and is testing the 108.00 big figure as the ongoing Ukrainian crisis continues to unfold in the foreign exchange market. With little in the way of technical support, and with the European Central Bank (ECB) unable to prevent further losses, the pair may soon hit 106.34, giving back all of...

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NZD/CHF closed at 0.62800 and the vital average is located at 0.63350 A price close on an average nullifies the statistics to the average which means NZD/CHF begins the week at perfect neutral. This is a 1 in 1 million occurrence and may never be seen again Overbought NZD/USD and AUD/USD trade near 5 year averages at 0.7292 and 0.6827. We see the NZDCHF Pair at...

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The Canadian Dollar is being pulled in opposite directions as the Russia-Ukraine crisis ebbs and flows. And that is likely to remain the case for the foreseeable future, until permanent de-escalation is achieved. When tensions flare, oil prices have rallied, an otherwise positive development for the Loonie only to be offset by the broader risk-off tone that...

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USD/CHF TECHNICAL ANALYSIS USD/CHF has been caught in a 0.90868 – 0.93735 range since August last year. It has recently remained above a series of short, medium and long term simple moving averages (SMA). A bullish triple moving average (TMA) formation requires the price to be above the short term SMA, the latter to be above the medium term SMA and the medium...