Event calendar


EUR/USD technicals suggest a test of 1.1890/1.2005 – Commerzbank Pablo Piovano

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a recovery to the 1.1890/1.2005 area.Key QuotesEUR/USD is attempting to recover off the December 2017 low where it is holding. It has not yet closed below its 78....

09:23 23 May /2018 Forex

EUR/USD finds support around 1.1750 ahead of PMIs Pablo Piovano

The single currency stays on the back foot on Wednesday and is now taking EUR/USD to the 1.1765/700 band ahead of the opening bell in the Old Continent.EUR/USD looks to PMIs, FOMCAfter yesterday’s bull run to the 1.1830 region, the pair lost upside momentum and retreated to the mid-1.1700s during early trade...

09:00 23 May /2018 Forex

Gold fails to catch a bid despite bearish exhaustion signs Omkar Godbole

Currently, gold (XAU/USD) is flatlined around $1,292, having clocked a high of $1,296 earlier today.The safe-haven metal continues to have a hard time building upside momentum despite multiple long-tailed daily candles and a bullish price-relative strength index (RSI) divergence in the 4-hour chart.Further, the risk-off tone in the Asian

08:23 23 May /2018 Forex

Forex Today: Risk-off grips Asia - Yen outperforms, Eurozone flash PMIs, UK inflation - Up next Dhwani Mehta

A renewed risk-aversion wave gripped the markets across Asia this Wednesday, with Trump displeased with the China trade talks and also uncertain about the June Summit with North Korea.  As a result, the safe-havens jumped into demand at the expense of the anti-risk assets such as oil, equities and Treasury yields.On the fx front, the Yen emerged the clear winner amid risk-off markets that sent the...

07:46 23 May /2018 Forex

EUR/USD: Corrective rally remains elusive, focus on preliminary PMIs and Fed minutes Omkar Godbole

The EUR/USD is now oversold for more than 20 days, as per the 14-day relative strength index (RSI).Still, the corrective rallies remain elusive, possibly due to the political uncertainty in Italy. The heavily indebted nation will be governed by anti-establishment 5-Star Movement and the far-right League. The markets are worried the populist government's fiscal loosening plans will have a negative ...

07:46 23 May /2018 Forex

NZD/USD back into 0.69 as RBNZ continues to float negative cash rates Joshua Gibson

The NZD/USD tumbled into the 0.6900 handle today following dovish statements from the Reserve Bank of New Zealand's (RBNZ) McDermott.The Kiwi dumped from 0.6944 to below the 0.6900 level following comments from the RBNZ's McDermott that mentioned the potential for negative cash rates. Kiwi traders recoiled following statements from the

07:00 23 May /2018 Forex

Asian stocks drop as risks resurface Omkar Godbole

Asian stocks dropped on Wednesday as investors took note of the renewed geopolitical tensions.ScorecardUS stocks turned red yesterday after President Trump cast doubt on a possible summit with North Korea.Investors also turned cautious after Trump said he is not pleased with recent trade talks between the United States and China, thus pouring cold water over the optimism generated...

06:46 23 May /2018 Forex

Bitcoin price analysis: BTC/USD dives under $8,000; Vanguard economist believes it will go to zero Tanya Abrosimova

Bitcoin's price action is to the downside today. Digital currency No. 1 lost about 5% of its value in the recent 24 hours, retracing from $8,400 on Tuesday to trade at $7,912. at the time of writing. The coin has been sliding for the third day in a row; its market value dropped to $135B, the lowest since April 18.Meanwhile, Joe Davis, a senior economist of the Vanguard Group, is another institutio...

06:46 23 May /2018 Forex

USD/JPY risk reversals: JPY call bias strengthens Omkar Godbole

The USD/JPY one month 25 delta risk reversals (JPY1MRR) fell to -0.95 - the lowest level since April 20 vs -0.65 on April 18.The decline in the risk reversals represents a rise in the implied volatility premium for the Japanese Yen calls (bullish bets).The risk reversals add credence to the drop in the 06:23 23 May /2018 Forex

GBP/JPY hits 9-day low ahead of UK CPI release Omkar Godbole

The bid tone around the anti-risk Japanese Yen, pushing the GBP/JPY to a 9-day low of 148.13 as the Asian equities turned risk-averse.As of writing, the pair is trading at 148.30 - down 0.40 percent from the previous day's close of 148.90. The pair's decline from 150.00 (May 18 high) has left another lower high (bearish pattern) on the daily ...

06:23 23 May /2018 Forex

USD/JPY drops to key rising trendline support, equities turn risk averse Omkar Godbole

The Japanese Yen is on the rise, possibly due to risk aversion in the equities.The USD/JPY pair fell to 110.42 - the rising trendline support, and was last seen trading at 110.50.  The decline from 110.92 to 110.42 could be associated with the risk-off tone in the equities. As of writing, stocks in Australia and New Zealand are down 0.22 perc...

05:23 23 May /2018 Forex

NZD/JPY falls back beneath 76.50 as RBNZ mentions negative cash rates Joshua Gibson

The NZD/JPY is knocking lower in Wednesday's early Asia session, backing into 76.50 following headlines from the Reserve Bank of New Zealand's (RBNZ) McDermott.The Kiwi is steeply off of its recent high of 77.50 against the Yen, but risk aversion is creeping back into markets after US President Donald Trump poured wa...

05:23 23 May /2018 Forex

AUD/JPY struggling to maintain 84.00, slips ahead of RBA Lowe's speech Joshua Gibson

The AUD/JPY is drifting lower in Wednesday's early session, testing just beneath the 84.00 major level.The Aussie rebounded strongly to start off this week, but that bullish momentum is souring quickly, and the AUD/JPY is stuttering its way back down after making a two-month high at 84.48 yesterday.In the early Tokyo session Japan's Nikkei Manufacturing PMI printed at 52.5, below the expected 53.6...

04:46 23 May /2018 Forex

NZD/USD: risk soured in NY weighing on Kiwi's recovery attempt; 21-D SMA over horizon Ross J Burland

NZD/USD is currently trading at 0.6937 following a bid from the 200-hr SMA at 0.6919, (0.6920 overnight lows), in a minor correction of the bearish slide from the highest levels since 15th May. The Kiwi is on the verge of testing the bear's commitments around the descending 21-D SMA up at 0.6986, although it has moved into a consolidation...

02:00 23 May /2018 Forex

Wall Street stocks: Dow Jones falls nearly 200 points as Trump is not satisfied with China trade talks Flavio Tosti

The three main US indices closed the day in the red on Tuesday. The S&P 500 Index lost 0.31% to 2,724.44 while the Dow Jones Industrial Average dropped 0.72% or 178.88 points to 24,834.41. The Nasdaq Composite Index lost 0.21% to close at 7,378.46. The US stock indices fell on Tuesday as the US President Donald Trump said that he was “not satisfied” with the talks between the United States and...

00:23 23 May /2018 Forex

EUR/USD still weak, in a range below 1.1800 Matías Salord

The EUR/USD pair is trading in a range between 1.1765 and 1.1790, modestly lower for the day. The greenback gained momentum across the board near the end of the European session and erased losses. The DXY bounced from 93.15 back to 93.50 as US yields rose modestly.The euro is also losing ground versus the Swiss franc and the Pound affected...

21:46 22 May /2018 Forex

USD/JPY: bulls can't get a grip on the 111 handle, FOMC minutes eyed Ross J Burland

USD/JPY is toying with 111 the figure, oscillating between 110.79 and 111.18 as the DXY moves higher within the day's range of between 93.2910-93.7340 as 10' inch up within the 3.05%-3.08% range. USD/JPY has traded up to a strong level of resistance on the 111 handle, just below where barrier levels are sighted at 111.50....

21:23 22 May /2018 Forex

EUR/USD: bargain hunters start to emerge - Scotiabank Ross J Burland

EUR/USD had almost recovered a cent off yesterday’s low, as analysts at Scotiabank noted as giving some sense that the Apr/May slide may be moderating as bargain hunters start to emerge. Key Quotes:"Investors appear less concerned by developments in Italy while worries about the soft patch in Eurozone activity earlier thi...

20:00 22 May /2018 Forex

Bitcoin price analysis: BTC/USD looks ready to give up supporting trend line, hold on tight, a fast drop may be pending Ken Chigbo

 The Bitcoin price was seen down 2.25% after the midpoint of Tuesday’s trading session, with no sign the bears losing momentum for now. BTC/USD is at threat of further selling pressure, as a key area of support is being penetrated.BTC/USD over the past two weeks has formed an ascending channel, which came after the trend line running ...

18:23 22 May /2018 Forex

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