The question on most trader's minds is whether USD/JPY will finally test 140. And another question is whether the BOJ (Bank of Japan) could intervene to weaken the yen and send USD/JPY lower. But it should be remembered that it is not an exact level in which the yen trades as to whether the BOJ intervenes, but how quickly it gets there. The BOJ have made it clear...
The world’s oldest cryptoasset has had a quiet week, with prices consolidating in an abnormally tight $1,000 range centered at the key $20,000 level for the last seven days.
In a way, the quiet price action can be viewed as a win of sorts for crypto bulls, given the fact that the typically-correlated Nasdaq 100 index has fallen nearly 3% over the last week, but...
Following the goldilocks jobs report, US stocks rallied and added to their rebound from the second of Thursday's session. However, the markets remain in a longer-term bear trend and are not out of the woods. The Fed is going to be tightening its policy aggressively in coming months, which should put a ceiling on asset prices.
The bears must now wait for the...
Gold and silver are both suffering because of similar reasons: rising interest rate expectations from both side of the Atlantic and a strong US dollar . The latter has underperformed lately due to elevated concerns over the health of the Chinese economy where the nation’s zero-COVID policy and energy issues have hit the sector. But overall, it is all about...
Eurozone CPI came in hotter than expected this morning, hitting a record high of 9.1% year-over-year. Despite worries about surging energy prices (up 38% y/y, even before cold winter weather arrives) driving the continent into recession, the ECB will be forced to act aggressively to fight inflation at next week’s monetary policy meeting; indeed, economists at both...
EUR/USD made headlines for briefly dropping below parity (1.00) for the first time in nearly 20 years in mid-July, then again throughout most of last week’s trade, but the pair is starting this week’s trade on a bullish note as it peeks above that key psychological level.
Interestingly, the pair’s RSI indicator is showing a bullish divergence with rates over the...
