FOREX Recent fluctuations in the forex market have been majorly dominated by the Japanese Yen which weakened over yesterday and today after Uchida’s comments on holding rates, aiding a recovery in the Dollar Index from 102.15 seen earlier during the week. However, the Dollar Index can face rejection from 103.80-104 which can limit a fall Read More
August 2024
FOREX RBA kept rates unchanged and hinted that a rate cut is far away while the BoJ Deputy Governor Shinichi Uchida indicated that they would not raise rates in an unstable market which led the USDJPY to rise further. Dollar Index, USDJPY, EURJPY and USDCNY saw some recovery yesterday and if sustained above current levels, Read More
FOREX The Monday sell-off in currency pairs continue today as well but there is some signal of mild recovery. Dollar Index, USDJPY, EURJPY and USDCNY fell sharply to the low of 102.16, 141.688, 154.41 and 7.1160 respectively before recovering from there. US Trade balance is scheduled today. Euro tested 1.10089 before coming off. Aussie is Read More
FOREX All the major currencies have gained against Dollar after the weaker US NFP and higher US Unemployment on Friday. Euro has risen significantly past 1.09 and is headed towards the immediate resistance at 1.0950. USDJPY and EURJPY can soon test our mentioned targets of 145-42 and 158. USDCNY has slipped sharply below 7.20 and Read More
FOREX BOE cut rates by 25bps to 5% taking Pound sharply down to 1.2726. It can extend its fall to 1.27/26 before halting. Dollar Index has bounced from 103.80 while Euro can head towards 1.0750/07. US NFP and Unemployment data is crucial to watch today. USDJPY and EURJPY have risen slightly but overall trend remains Read More
FOREX BOE cut rates by 25bps to 5% taking Pound sharply down to 1.2726. It can extend its fall to 1.27/26 before halting. Dollar Index has bounced from 103.80 while Euro can head towards 1.0750/07. US NFP and Unemployment data is crucial to watch today. USDJPY and EURJPY have risen slightly but overall trend remains Read More
FOREX The FED kept the rates unchanged in their Policy meeting yesterday while the BOJ went ahead with a 15-bps rate hike to 0.25%, leading to a volatile FX market as anticipated. Dollar Index slipped to 103.86 and if does not rise back above 104 immediately, can target 103 in the near term while Euro Read More