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EURUSD, “Euro vs US Dollar” EURUSD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0970 is expected, followed by a rise to 1.1105. An additional signal confirming the rise will be a rebound from the upper boundary of […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3260. Next, the price could rebound from it and continue the downtrend. However, the quotes might drop to 1.3170 without any correction […]
USD Downside Risks Today’s US CPI release will be pivot for FX markets near-term. While a further .25% hike from the Fed is widely expected as the base case scenario for the July FOMC, expectations have shifted beyond this month. With a less dovish outlook voiced by some Fed members recently and with jobs data […]
RBNZ Holds Rates Steady Following 12 straight months of rate hikes, the RBNZ held monetary policy unchanged at the July MPR overnight. Sitting at 5.5%, the RBNZ noted that policy would remain unchanged for the foreseeable future, citing a technical recession in New Zealand. The bank note that its tightening campaign had helped curb spending […]
The New Zealand dollar looks positive against the US dollar. The current NZDUSD quote is 0.6224. The Reserve Bank of New Zealand left the interest rate at the level of 5.5% per annum at the meeting in July. In the comments, the RBNZ confirmed that previous decisions to raise the interest rate had caused the […]