News
Fed in Focus All eyes today are on the US Dollar as the Fed prepares to deliver its January FOMC decision. While no policy change is expected this time around, traders will be carefully scouting the contents of the statement and post-meeting presser as they look to gauge when the Fed is likely to ease […]
The primary currency pair is decreasing on Wednesday. The current EURUSD exchange rate stands at 1.0820. This evening, the US Federal Reserve’s meeting will conclude. The regulator will decide on the interest rate and likely provide indications regarding the timing of the first reduction in loan costs in this cycle. The interest rate will remain […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, a test of 7/8 (148.43) is expected, followed by a breakout of this level and a rise to the resistance at […]
Daily Market Outlook, January 31, 2024 Munnelly’s Market Minute…“Focus Firmly On FOMC” Asian markets were mostly quiet as a result of numerous earnings and important data releases at the end of the month. Initially, the Nikkei 225 declined after disappointing Industrial Production and Retail Sales data, and was also affected by hawkish comments from the […]
The USD Index (DXY) is currently undergoing a consolidative phase, hovering around the 103.50 zone, which aligns with the pivotal 200-day Simple Moving Average (SMA). Despite the recent bullish trend that emerged at the beginning of the new year, there are indications of a potential slowdown, evident as the price endeavors to undergo multiple tests […]
The Australian dollar, paired with the US dollar, declined on Wednesday. The current AUDUSD exchange rate stands at 0.6567. Inflation data in Australia reinforced market expectations of an imminent interest rate reduction. The consumer price index in Q4 dropped to 4.1% year-over-year from the previous 5.4%. Quarterly, the indicator rose by a mere 0.6% against […]