VONWAY FOREX GLOBAL LTD

2023-02-13 03:51:14 EUR/USD Price Analysis: Sellers attack 1.0660 key support at monthly low

EUR/USD stays depressed around five-week low as bears poke ascending trend line from November 30.
Clear downside break of the 50-DMA, 12-week-long previous support joins bearish MACD signals to favor EUR/USD sellers.
Buyers have a bumpy road to return unless crossing 1.0800.

EUR/USD bears roll up their sleeves while poking the short-term key support around 1.0660 during Monday’s Asian session, following a two-week downtrend.Read more... Buka / Bagaimana

2023-02-10 06:15:41 Gold Price Forecast: XAU/USD stays bearish below $1,873, US inflation clues eyed – Confluence Detector

Gold price remains sidelined within short-term key trading range amid contradicting fundamentals, cautious mood.
Fed policymakers seem less interested in backing aggressive rate hikes amid mixed employment data.
Recession woes underpin US Dollar demand and weigh on XAU/USD ahead of the key US consumer-centric statistics.

Gold price (XAU/USD) treads water around the mid-$1,800s, despite bracing for the second weekly loss, as market players struggle for clear directions amid contrasting fundamentals and anxiety ahead of the key United States data. That said, Thursday’s softer US Jobless Claims allowed Richmond Fed President Thomas Barkin to follow Fed Chair Jerome Powell and mark hesitance in raising the rates further. The same joined China-linked optimism to weigh on the US Dollar and allow the XAU/USD to float higher. Read more... Buka / Bagaimana

2023-02-10 05:19:15 NZD/USD refreshes day low below 0.6320 as China inflation misses estimates

NZD/USD has printed a fresh day low at 0.6315 on lower-than expected China CPI data.
China’s PPI has reported a deflation by 0.8% higher than the projections of 0.5% and the former release of 0.7%.
The upbeat US labor market could propel consumer spending ahead.

The NZD/USD pair has dropped sharply below 0.6320 as the China’s National Bureau of Statistics (NBS) has reported lower-than-anticipated Consumer Price Index (CPI) (Jan) data. The annual inflation data has landed at 2.1% lower than the consensus of 2.2% but higher than the prior release of 1.8%. Monthly inflation figure has shown a deflation by 0.8% against an expansion in the inflationary pressures by 0.7%.Read more... Buka / Bagaimana

2023-02-09 06:09:42 USD/JPY: The Yen weakness is here to stay – Goldman Sachs
In the view of the Goldman Sachs Research Team, the balance of risks is in favor a weaker Japanese Yen over the coming weeks.
Key quotes
"The US nonfarm payrolls report drove US yields higher and equities lower, a negative mix for the Yen particularly in an environment where Japanese yields are fixed. Indeed, JPY underperformed most other major currencies on the day, pushing up USD/JPY towards our 3-month forecast of 132.” Read more... Buka / Bagaimana

2023-02-08 01:29:43 EUR/USD stabilizes above 1.0700 despite Fed’s Powell confirming further policy tightening

EUR/USD has shifted its business above 1.0700 despite hawkish Fed commentary.
Fed’s Powell has given the green signal to policy tightening continuation amid a strong job report.
ECB Schnabel has advocated for a 50 bps interest rate hike in March.

The EUR/USD pair has shifted its auction profile above the round-level resistance of 1.0700 in the early Asian session. The major currency pair rebounded firmly after dropping to near 1.0670. The recovery move in the shared currency pair is looking to extend its recovery above the immediate resistance of 1.0725 ahead.Read more... Buka / Bagaimana

2023-02-07 15:02:24 Gold Price Forecast: XAU/USD in correction mode – Commerzbank

First minor rate cut is now expected only at the end of the fourth quarter

Correction of the Gold price – what is going to happen next? Strategists at Commerzbank note that interest rate expectations are still the main factor driving the yellow metal.

“Interest rate expectations are still the main factor driving the price. The interest rate peak, as reflected in the Fed Fund Futures, is now at above 5% and is therefore more in line with recent comments by numerous Fed officials. Furthermore, this interest rate level is set to remain in place until into the late autumn, according to the Fed Fund Futures.”

“The first minor rate cut is now expected only at the end of the fourth quarter, rather than already in the summer. This also tallies more closely with the Fed rhetoric, which has so far excluded the possibility of rate cuts this year.” Buka / Bagaimana

2023-02-07 11:40:18 AUD/USD to struggle to gain further in the short term – Commerzbank

Today's Reserve Bank of Australia's (RBA) decision was perceived by the market as hawkish and the AUD was able to gain. Nonetheless, economists at Commerzbank expect the Aussie to struggle to extend the rally in the near term.

Hawkish RBA
“As expected, the RBA raised its key interest rate by 25 bps to 3.35% and held out the prospect of further rate hikes.”Read more... Buka / Bagaimana

2023-02-06 18:12:24 GBP/USD regains some composure and bounces off lows near 1.2020

GBP/USD manages to reverse part of the recent sell-off.
BoE’s C.Mann sees upside risks to the inflation outlook.
UK Construction PMI improved a tad in January.

The British pound manages to somewhat shrug off the current dollar strength and motivates GBP/USD to rebound from earlier lows near 1.2020 on Monday. Read more... Buka / Bagaimana

2023-02-06 17:50:15 Gold Price Forecast: XAU/USD to suffer as strong labour market will keep Fed hawkish – ANZ

Strong labour data provides more room for the Fed to remain hawkish

“Labor data has been strong despite aggressive rate hikes, providing more room for the Fed to remain hawkish and delaying any rate cut until inflation comes into its target range. We see this as a headwind for the Gold price, triggering profit booking after the recent price rally.”

“Physical Gold demand is holding up in China as the economy reopens. Central banks are continuing their buying spree amid elevated geopolitical risks.” Buka / Bagaimana

2023-02-06 15:48:11 AUD/USD hovers around 0.6900, over two-week low as focus shifts to RBA on Tuesday

AUD/USD turns lower for the third straight day and is pressured by a combination of factors.
Strong follow-through USD buying and the risk-off mood act weigh on the risk-sensitive Aussie.
The downside seems limited in the absence of US macro data and ahead of the RBA on Tuesday.

The AUD/USD pair struggles to preserve its modest intraday gains on Monday and attracts fresh sellers in the vicinity of mid-0.6900s. The pair turns back lower for the third successive day and retreats to the 0.6900 mark during the mid-European session, closer to over a two-week low touched earlier today. Read more... Buka / Bagaimana