Forex News

Event calendar

23

US stocks struggle to build on overnight strong gains Haresh Menghani

Major US equity indices built on overnight strong up-move and opened with modest gains on Tuesday, albeit quickly drifted into negative territory.Trade tensions between the US and China showed further signs of easing after the Chinese government announced to cut import duties...

17:46 22 May /2018 Forex

WTI eases from multi-year tops, around $72.30 ahead of API Pablo Piovano

Prices of the West Texas Intermediate are trading with marginal losses on Tuesday, keeping the familiar range above the key $72.00 mark per barrel.WTI now looks to APIPrices of the barrel of the American benchmark for the sweet light crude oil keep the upper end of the range so far on Tuesday, n...

17:23 22 May /2018 Forex

EUR/USD skids back below 1.1800 handle Haresh Menghani

   •  Reports that Savona will lead Italian economy ministry prompts some aggressive selling.
   •  Downside remains limited amid a follow-through USD slide and oversold conditions.
The EUR/USD pair faded an early European session bullish spike and quickly retreated around 50-pips from to an intraday high level of 1.1830.The pa...

16:23 22 May /2018 Forex

Bitcoin price analysis: BTC/USD butchers its way past key support areas; Frudstrat’s Tom Lee still believes Bitcoin will hit $25,000 by end year John Isige

Bitcoin price is continuing with its downtrend after it was unable to break past the resistance level at $8,600. The slide started during the Asian trading hours on Monday failed to find support at $8,500 and $8,400. Moreover, Bitcoin price has today rejected the support zone at $8,300, besides it has broken below $8,200 at the time of writing.Tom Lee, founder of Frudstrat recently owned the fact ...

16:00 22 May /2018 Forex

USD/JPY within range around 111.00, FOMC, Powell on sight Pablo Piovano

The generalized softer tone around the greenback is now prompting USD/JPY tp drop to the 111.00 neighbourhood, all amidst a narrow trading range.USD/JPY upside capped near 111.20After recording fresh multi-month peaks near 111.40 at the beginning of the week, spot has now sparked a correction lower and retur...

14:46 22 May /2018 Forex

Gold retests 1-week old trading range resistance Haresh Menghani

   •  USD extends overnight corrective slide and helps regain some positive traction.
   •  Reviving safe-haven demand provides an additional boost and remains supportive.
   •  A renewed uptick in the US bond yields might now seem to cap any further gains.
Gold reversed an early dip to intraday lows near $128...

14:00 22 May /2018 Forex

Anomaly in US interest rates and USD/JPY disappearing - Nomura Sandeep Kanihama

An anomaly that was in the financial markets, namely the negative correlation between US interest rates (US-Japan interest rate spread) and USD/JPY, started to disappear in April, according to analysts at Nomura.Key Quotes“We attribute the anomaly to (1) concerns that the expansionary fiscal policies of the US Trump admini...

13:00 22 May /2018 Forex

WTI refreshes 4-year highs, nears $ 73 mark ahead of API FXStreet Team

The bulls remain unstoppable, now pushing WTI (oil futures on NYMEX) closer towards the $ 73 mark, having refreshed the highest levels since November 2014.The barrel of WTI resumes its march higher, having consolidated briefly around the $ 72.50 level earlier today. Oil continues to find support from the looming concerns over suppl...

12:23 22 May /2018 Forex

ECB's Liikanen: it will take time before core inflation supports inflation development Haresh Menghani

Finland's Central Bank Governor Erkki Liikanen, speaking at the Finnish parliament, said that it will take time before core inflation supports inflation development. The comments did little to assist the shared currency to build on its recovery attempt, with the EUR/USD pair quickly retreating over 20-pips from session tops touched in the last hour...

12:23 22 May /2018 Forex

Bitcoin price analysis: BTC/USD runs out of momentum, reverses trend to test key support; Russia considers launching a national cryptocurrency John Isige

Bitcoin price is trading above $8,300 after it lacked the momentum to attack $8,600 during the session on Monday 21. The king of the digital assets extended the declines smashing its way through the support areas at $8,475, $8,400 and $8,300. The declines were, however, stopped above $8,275. There is a general downward trend among the major coins in the market as well with Ethereum recording a 0.5...

11:46 22 May /2018 Forex

EUR/USD recovers further beyond 1.18 handle on weaker USD Haresh Menghani

   •  A sudden fall in the USD prompts some follow-through short-covering move.
   •  Further gains likely to remain capped amid continued Italian political uncertainty.
After an initial dip to 1.1757, the EUR/USD pair caught some fresh bids and was now seen building on overnight rebound from 6-month lows.The pair's latest leg ...

11:23 22 May /2018 Forex

EUR/USD cautious, rebound likely – Commerzbank Pablo Piovano

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s stance is cautious, while a rebound is likely.Key QuotesEUR/USD has sold off to the December 2017 low where it is holding. It has not yet closed below its 78.6% retracement a...

11:00 22 May /2018 Forex

Gold struggles to build on overnight rebound from yearly lows Haresh Menghani

   •  Resurgent USD demand prompts some fresh selling on Tuesday.
   •  Sliding US bond yields/cautious mood helps limit further downside.
Gold struggled to build on overnight rebound from fresh YTD lows and came under some renewed selling pressure on Tuesday.After yesterday's pull-back, the 10:46 22 May /2018 Forex

EUR futures: short-term low in place? Pablo Piovano

According to advanced figures for EUR futures markets from CME Group, investors added more than 5.5K contracts to their open interest positions on Monday from Friday’s final 513,951 contracts. In the same line, volume increased by almost 9.7K contracts.EUR/USD squeeze higher could re-test 1.2000/2110:46 22 May /2018 Forex

Will recent JPY weakness change the BOJ stance? - Nomura Sandeep Kanihama

Analysts at Nomura suggest that the recent recovery in USD/JPY will be a relief for the BOJ, but they do not think the current level will be strong enough to accelerate core CPI inflation meaningfully.Key Quotes“It will need to overshoot to 120 or abov...

10:23 22 May /2018 Forex

EUR rebound may be limited - AmpGFX Sandeep Kanihama

Greg Gibbs, Analyst at Amplifying Global FX Capital, suggests that they are not convinced that this is the right time to turn risk-averse on Italy as after the initial shock of a populist Italian coalition government that wants to increase deficit spending on social handouts and challenge EU fiscal rules, it remains to be seen how far it will go.Key Quotes“They have complained of ...

10:00 22 May /2018 Forex

USD/JPY recovers early lost ground, retakes 111.00 mark Haresh Menghani

   •  Reviving safe-haven prompts some follow-through long-unwinding trade.
   •  Downside remains limited amid some renewed pickup in the USD demand. 
   •  Easing US-China trade tensions/Fed rate hike expectations remain supportive.
The USD/JPY pair quickly reversed early dip to an intraday low level of 110.84 and is now ...

09:46 22 May /2018 Forex

BOJ's Kuroda is cautions about issuing central bank's digital currency, Bitcoin and other major coins are deep in red Tanya Abrosimova

The cryptocurrecny market is a sea of red on Tuesday morning. All major coins are losing their positions, building on Monda's bearish trend. Total market capitalization dropped to $375B with aggregate trading volume $16B. Bitcoin is changing hands at $8,293, down 1.24% on the day. Ethereum has lost 1.15% to $688, Ripple is changing hands at $0.6680.Japan has a reputation of one the most loyal juri...

09:23 22 May /2018 Forex

USD/JPY faces initial support around 110.00 – Commerzbank Pablo Piovano

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair should meet initial contention in the 110.00 area.Key QuotesUSD/JPY is approaching the 112.21 2015-2018 downtrend. We note the 111.39 mid-January high, the 13 counts on the intrad...

09:23 22 May /2018 Forex

EUR/USD seen stabilizing around 1.1800 – Danske Bank Pablo Piovano

Analyst at Danske Bank Aila Mihr suggested the pair could now look to stabilize around the 1.1800 neighbourhood.Key QuotesEUR/USD touched December lows yesterday aft er the combination of USD support from rates and EUR downside form Italian governmen...

09:23 22 May /2018 Forex