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CAD CPI in Focus USDCAD is moving higher today ahead of tomorrow’s Canadian CPI release. The market is expecting CAD CPI to have slipped further last month. M/M CPI is pegged at -0.3%, down from the prior month’s -0.1% while annually, median CPI, is forecast to hold steady at 3.4%. However, given the M/M expectations, […]
The primary currency pair appears neutral on Monday. The current EURUSD exchange rate stands at 1.0963. Previously released US statistics on the consumer price index alter the perspective on the US Federal Reserve’s future actions. Inflation in the country has accelerated to 3.4% y/y from the previous 3.1%. Core inflation has not provided significant signals. […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 144.65 is expected, followed by a rise to 147.85. The growth could be additionally supported by a rebound […]
TitleEURUSD H4 | Bearish Reversal TypeBearish Reversal Preference:Price is rising toward to the pivot point of 1.1030 which is a pullback resistance that aligns with the 61.8% Fibo retracememt. A reverse from this point could lead the price to fall to 1st support at 1.0930, a multi swing low support level. Alternative scenario:If price breaks […]
Middle Tensions Supporting Gold Gold prices remain in the green across early European trading on Monday, extending gains from Friday. Risk sentiment remains subdued amidst ongoing global geopolitical unrest. News of a US warship shooting down an attempted missile strike from Houthi rebels has prompted fears of fresh US/UK strikes in Yemen, further raising risks […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the resistance level at 1.1030. However, the price could drop to 1.0920 and continue the uptrend after the correction. USDJPY, “US Dollar vs […]