VONWAY FOREX GLOBAL LTD

2023-05-31 18:08:03 Dear Value Client,

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We appreciate your understanding and patience while we work towards resolving this issue. Please be assured that we are making every effort to restore full functionality as soon as possible. We will keep you updated on the progress and inform you promptly once the maintenance is completed.

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Vonway Teams. Buka / Bagaimana

2023-05-31 14:26:24 Assessing the GBP/USD: Managing Downside Risks Amidst Excessive BoE Rate Hike Expectations

Commerzbank economists highlight downside risks for the GBP despite recent upward movement following higher-than-expected UK inflation rates in April. They believe that current market expectations for rate hikes are exaggerated and caution that data surprises in the coming weeks could reveal higher inflation levels than anticipated by the Bank of England (BoE). As long as this risk persists, the market is unlikely to revise its rate hike expectations. While recent data supports arguments for further rate hikes, Commerzbank suggests that the extent of anticipated hikes is overstated, expecting data to eventually indicate reduced price pressure and a weaker economy. Buka / Bagaimana

2023-05-30 14:52:12 EUR/USD Price Analysis: Limited Upside above 1.0830, Potential Resistance Ahead

EUR/USD rebounded after hitting a 10-week low around 1.0670 on Tuesday. However, the pair is still facing significant downward pressure, although this could ease slightly if it manages to close convincingly above the weekly high of 1.0831 reached on May 22. In the short term, the immediate resistance is the 100-day SMA at 1.0814.

When considering the longer-term perspective, the positive outlook remains intact as long as the pair stays above the 200-day SMA, currently located at 1.0488. Buka / Bagaimana

2023-05-29 07:15:32 NZD/USD Price Analysis: Extends above 0.6060 as US borrowing cap increase approval weighs on US Dollar

The NZD/USD pair has continued to rise above 0.6060 during the Asian session. The New Zealand dollar (Kiwi) is expected to extend its recovery as the approval for raising the US debt ceiling has had a significant negative impact on the US Dollar Index (DXY).

After the approval of the US debt-ceiling increase, gains in the S&P 500 futures have reduced significantly. The increase in the US borrowing limit, which now stands at $31.4 trillion, is anticipated to lead credit rating agencies to downgrade the long-term sovereignty of the United States. Consequently, this will exert considerable downward pressure on the US Dollar Index and US equities going forward. Buka / Bagaimana

2023-05-26 03:07:12 USD/JPY Rebounds from Intraday Lows, Supported by Soft Japanese Inflation and Strong US Data, Eyes on US Debt Ceiling Negotiations

USD/JPY rebounds from intraday lows, driven by lower Japanese inflation. Bank of Japan defends easy money policies. Strong US data and Treasury bond yields support USD/JPY near November 2022 levels. Japan's economic optimism and US debt ceiling concerns affect the pair. US Dollar Index rises, Wall Street closes mixed. Market focuses on US data and debt ceiling negotiations for guidance. Buka / Bagaimana

2023-05-25 22:52:31 Gold price forecast: XAU/USD reaches lows of March after US data

The XAU/USD (Gold to US Dollar) pair has reached its lowest point since March 22 due to strong economic data and high inflation in Personal Consumption Expenditures (PCE). This has prompted investors to anticipate a 25 basis points interest rate hike by the Federal Reserve (Fed) in the upcoming June meeting. As a result, US bond yields have risen, putting downward pressure on Gold prices and benefiting the US Dollar.

At the time of writing, the price of Gold stands at $1,943.62, representing a 0.7% decline from its opening price. Meanwhile, the US Dollar Index (DXY) is currently at the 104.22 level, indicating a 0.32% gain for the day. Buka / Bagaimana

2023-05-25 05:02:46 RBNZ's Surging Interest Rates Push NZD/USD Below 0.6100 Mark

The NZD/USD pair dropped below the support level of 0.6100 after RBNZ Governor Adrian Orr expressed concerns about raising interest rates too high. The S&P500 futures have reduced early gains as the US economy approaches a potential default. The US Dollar Index reached a 10-week high due to a delay in debt-ceiling issues, with President Joe Biden and congressional leaders unwilling to accept certain Republican terms. The uncertainty of a June interest rate hike by the Federal Reserve has not affected the USD Index, as tight credit conditions and inflationary pressures are influencing Fed policymakers. The RBNZ recently raised its Official Cash Rate to 5.50% but believes there is limited room for further rate hikes. Buka / Bagaimana

2023-05-23 22:42:12 US Dollar Index (DXY) Price Value Chart Today

The Dollar Index (DXY) chart has been showing a rising price pattern, indicating a continuation of the uptrend observed over the past weekend. However, the expected breakthrough of the higher high level at 103.660 did not materialize when tested against the resistance level. This failure to break through could be an early indication of a potential shift towards a bearish trend.

In the previous week, the US dollar exhibited strength, supported by various factors that were analyzed in its favor. By examining the chart, it becomes apparent that if the resistance zone at 103.660 is successfully breached, the price is expected to continue its upward movement, potentially reaching a new higher high.

Conversely, if the price fails to break through the resistance level, it is likely to test the resistance become support zone at 103.012. A successful test of this zone could signify a reversal towards a bearish trend. Buka / Bagaimana

2023-05-23 13:21:10 US Dollar Surges Amid Escalating Debt Ceiling Impasse and Heightened Asia Geopolitical Tensions

The US Dollar (USD) is staging a recovery following a challenging start to the week. The US Dollar Index (DXY) is displaying signs of consolidation above a critical support level, while concerns over tail risk have emerged after US chip-manufacturer Micron faced restrictions in China, prompting Japan and South Korea to express interest in taking over the business.

In terms of macroeconomic data, market participants are eagerly awaiting the release of the services numbers from the Purchasing Managers Index (PMI) in the United States at 13:45 GMT. Shortly after, attention will turn to the May edition of the Richmond Fed Manufacturing Index at 14:00 GMT, providing traders with valuable insights to determine the next direction for the US Dollar. Meanwhile, Tuesday's Federal Reserve speaker agenda is relatively light, with only Fed's Logan delivering welcome remarks at a conference on technology-enabled disruption. Buka / Bagaimana

2023-05-23 05:59:17 EUR/USD Approaches Critical Test of Bullish Sentiment at 1.0800

The currency pair has experienced a decline of nearly 2% for the month, reversing two consecutive months of gains. Meanwhile, the US Dollar remains strong, supported by growing expectations that US interest rates will remain higher for an extended period.

The focus on Federal Reserve speakers who hinted at the possibility of further tightening monetary policy. Minneapolis Fed President Neel Kashkari suggested that US rates need to exceed 6%, while St. Louis Fed President James Bullard mentioned the potential need for a 0.5% rate hike by the central bank.

The US Dollar remains solid, with money markets pricing in a roughly 26% chance of another 25-basis-point rate hike by Fed next month. Expectations of interest rate cuts later in the year have also been scaled back, with rates expected to hold around 4.7% by December. Buka / Bagaimana