VONWAY FOREX GLOBAL LTD

2023-05-22 02:28:59 GBP/USD Climbs Above 1.2450 Ahead of US Borrowing Cap Talks

- GBP/USD exhibits strong upward momentum, surpassing the key resistance level of 1.2450, as the US Dollar Index faces pressure amid the delay in US debt-ceiling talks.
- Market focus remains on the Pound Sterling as it awaits the release of preliminary UK's S&P PMI data, driving potential volatility in GBP/USD.
- After the breakdown of the upward-sloping trendline from 1.2275, GBP/USD experienced a sharp decline, highlighting the influence of technical factors on the pair's movement.

GBP/USD experienced a significant decline after breaking below the upward-sloping trendline formed from the April 03 low at 1.2275 on a four-hour scale. The consistent formation of lower highs suggests the strength of US Dollar bulls, with potential support found at the April 10 low of 1.2344. Buka / Bagaimana

2023-05-19 13:15:31 XAU/USD retreats with gains in the US Dollar

According to economists at ANZ Bank, the price of gold has stabilized after reaching a recent high, primarily due to the influence of a stronger US dollar and increasing yields.

Despite the potential for a recession indicated by a yield curve inversion, the US economy has shown strong labor data and persistent inflation, making it likely that further rate tightening measures may be implemented. While the possibility of a pause or rate cuts in the future remains, the current circumstances suggest that additional tightening is feasible. Buka / Bagaimana

2023-05-18 15:29:41 EUR/USD Price Analysis: Growing Speculation of a Decline Towards April Lows

EUR/USD Nears Crucial Support at 1.0800 as Selling Pressure Persists

Impending Test of Key Support at 1.0800 for EUR/USD amid Continued Selling Bias

EUR/USD Threatens Key Support Level at 1.0800, Eyes Potential Retracement Towards April Low

Selling Momentum Builds for EUR/USD as it Approaches Critical Support at 1.0800

EUR/USD Teeters Near Key Support at 1.0800, Breach Could Trigger Deeper Retreat Buka / Bagaimana

2023-05-18 04:19:24 USD/JPY gathers strength to print fresh five-month high above 138.00 ahead of Japan’s Inflation

The USD/JPY pair is strengthening and approaching a new five-month high above 138.00 due to expectations of the Bank of Japan maintaining loose monetary policy.Meanwhile ,S&P500 futures experienced minor losses, but US equities performed well on Wednesday as investors were confident about a deal to raise the US debt ceiling, reducing fears of a potential default.

Beside that,market sentiment has turned positive due to the promising deal to raise the US borrowing cap, although compromises on spending initiatives are required.

In addition,The Japanese Yen is uncertain ahead of Japan's inflation data release, with expectations of a softening in both headline and core inflation.
Softening inflation data is expected to prompt the Bank of Japan to continue its ultra-dovish interest rate policy to maintain inflation above 2%. Buka / Bagaimana

2023-05-17 17:42:45 USD/CAD Struggles as Bears Test Resistance, Finds Support Amidst Robust USD Buying

The USD/CAD pair faced hurdles in capitalizing on its modest intraday gains as it encountered selling pressure near the 1.3535 level on Wednesday. Spot prices dipped to a fresh daily low around 1.3470 during the North American session. However, the downside was tempered by robust buying of the US Dollar (USD).

The USD Index (DYX), which tracks the Greenback against a basket of currencies, maintained its gains just below its highest level since March 27. Speculation that the Federal Reserve (Fed) would maintain higher interest rates for a longer duration contributed to this resilience. Recent hawkish comments from several FOMC members contradicted market expectations of potential interest rate cuts later in the year. Consequently, the USD remained elevated, providing some support for the USD/CAD pair. Buka / Bagaimana

2023-05-17 16:05:41 Wage Price Index Shows Modest Growth in Q1 2023, Reflecting a Steady Labor Market

The latest data from the Wage Price Index (WPI) reveals a modest increase in wages during Q1 2023. The WPI, a crucial economic indicator, rose by 2.1%, slightly surpassing expectations. The growth was driven by a tightening labor market and rising labor costs for employers. Service industries, particularly professional services, healthcare, and leisure and hospitality, experienced significant wage gains. However, economists caution that wage growth remains below historical averages, and concerns about inflation persist. The trajectory of the WPI will depend on factors such as the pandemic's containment, economic recovery, and monetary policies. Stakeholders closely monitor the WPI for insights into the labor market and wage dynamics. Buka / Bagaimana

2023-05-17 05:04:42 EUR/USD rebound approaches 1.0900 as US default fears recede

The EUR/USD currency pair is experiencing mild gains around 1.0870 after recovering from losses. The market's cautious optimism regarding the US debt ceiling extension is not significantly impacting the Euro pair due to a light economic calendar and mixed signals.

Recent statements from Federal Reserve officials, including Austan Goolsbee, Raphael Bostic, Thomas Barkin, and Loretta Mester, have defended the central bank's hawkish stance on monetary policy, emphasizing concerns about inflation and the potential for interest rate increases.

Although European Central Bank (ECB) policymakers have previously been hawkish, they have recently refrained from advocating for significant interest rate hikes. This shift in tone poses a challenge for buyers of the Euro pair. Buka / Bagaimana

2023-05-16 06:11:34 Gold Price Latest - $2,000/oz. Support Stands Firm as US Inflation Report Nears

Gold is starting the week with a positive tone as it tests the $2,000 per ounce support level. The metal has consistently respected this level and is now aiming to surpass Friday's high of $2,022 per ounce.

However,Traders in the US Treasury market will closely follow the Fed's commentary to gain hints about the central bank's future plans. An influential indicator suggests that the Fed has completed its monetary policy tightening and may consider interest rate cuts by the end of the third quarter. However, there are dissenting voices among more hawkish Fed members who advocate for further rate hikes in the upcoming months. Currently, the US 2-year Treasury yield stands at 4%, while the benchmark US 10-year Treasury yield is at 3.48%.

Despite a recent trend of lower highs compressing gold prices, the precious metal remains strong above the $2,000 per ounce level. This compression may hint at a potential breakout in the future. Buka / Bagaimana

2023-05-16 03:24:01 WTI crude oil buyers ignore downbeat EIA report to prod $71.50 amid supply fears, softer US Dollar

WTI crude oil prices hovered around $71.40, showing a defensive stance after a positive start to the week. The market displayed caution due to mixed catalysts from the energy industry and upcoming key data/events. Negative reports from the US Energy Information Administration failed to impact the market significantly as concerns over supply depletion and geopolitical issues persisted. A pullback in the US Dollar supported the crude oil prices.

However,OPEC+ leaders' defense of output cuts and the G7's plan to tighten sanctions on Russia, along with the weakening US Dollar, allowed buyers to regain control. The focus shifted to US Retail Sales data, the resolution of the US debt ceiling problem, and China's economic indicators for further price direction. Buka / Bagaimana

2023-05-15 15:02:43 Empire State Manufacturing Index Shows Robust Growth

The Empire State Manufacturing Index, a key gauge of manufacturing activity in the New York region, has revealed strong growth in the latest report.

Empire State Surpassing expectations and indicating a significant expansion in manufacturing output. Economists had projected a more modest increase, making the actual figures a positive surprise for the market.

The impressive growth in the index can be attributed to increased demand for manufactured goods, both domestically and internationally, as economies continue to recover from the pandemic. Additionally, businesses have been investing in capacity expansion and modernization, contributing to heightened production levels.

While the positive trend is encouraging, rising input costs and supply chain disruptions remain challenges for manufacturers. Nevertheless, the Empire State Manufacturing Index's strong performance reflects the sector's resilience and potential for driving economic recovery. Buka / Bagaimana