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The EUR/USD pair, which has embarked on a bullish trajectory since February 14, encountered hurdles today as it relinquished some of its intraday gains. The Asian session witnessed a surge in the pair, predominantly driven by a weaker US Dollar (USD) amid subdued US Treasury yields. However, the Euro faced headwinds amidst market caution over […]

BOC in Focus The Canadian Dollar has softened a little on the back of yesterday’s inflation data. Canadian CPI was seen declining again last month, further dampening tightening expectations. The BOC has recently warned that its discussions have now shifted away from whether to tighten further, instead focusing on when the bank should cut rates. […]

EURUSD, “Euro vs US Dollar” The EURUSD pair formed a structure of a growth wave to 1.0838 and a decline structure to 1.0803 today. Currently, a growth link to 1.0820 is forming. Practically, a new consolidation range might go by these levels. With an escape upwards, the range might expand to 1.0850. With a downward […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are in the overbought area on H4. The RSI has rebounded from the resistance line. In this situation, a breakout of 8/8 (150.00) is expected, followed by a decline to the support at 7/8 (148.43). The scenario could be cancelled by rising above +1/8 (151.56). In this […]

Daily Market Outlook, February 21, 2024 Munnelly’s Market Minute… “Markets On Nvidia Earnings Watch” This morning, Asian stock markets are showing a varied performance, with Chinese indices gaining while most others are experiencing declines. A Chinese media source reported that a key interest rate was kept unchanged this week due to concerns about its impact […]

PBoC Slashes LPR Chinese stocks are surging higher today after the PBoC slashed its 5yr LPR rate to 3.95%. The .25% reduction marks the first LPR cut since June and the largest reduction since the bank introduced the rate in 2019, larger than the .15% cut the market was looking for. Lowering of the rate […]