US Dollar Forecast: Dollar Descent Continues as U.S. Markets Stare Down NFP, PCE The USD Pain Trade has continued for another week as the Fed laid the groundwork to begin Quantitative Tightening. Key inflation and employment prints on the docket for next week will likely keep the Greenback on the move. British Pound Forecast: Trending Up Against USD, Sideways Against EUR The coming week will be dominated by a meeting of the ...
Gold prices are rebounding, as the US Dollar declines on NFP data. Expectations for today’s NFP (Non-Farm Payrolls) event were set at 200k, and released better than expected at 235k. Also, January’s high was revised upwards from 227k to 238k. Technically, gold prices have found support after declining to a 76.4% Fibonacci retracement level found near $1,200.00. This line has been calculated by measuring the distance between the January ...
GBPUSD intra-day price (M5 timeframe) broke key support level for 100 pips lower during the NFP news events: "The GBPUSD is currently rebounding off its daily lows after declining during today’s NFP (Non-Farm Payrolls) event. NFP figures were expected to be released at +190k; however, these expectations were missed with a total of 151k. Initially major pairs declined against the US Dollar. As seen above, the GBP/USD is still trading ...
"The US Dollar has initially rallied from this news, causing pairs such as the GBP/USD to decline in value. Now that NFP has concluded traders may continue to watch for further declines under today’s S4 pivot point, which resides at a price of 1.4556. In the event of a breakout below this value traders may begin to extrapolate today’s 59-pip range to find initial targets near 1.4497.""If the current bout of US Dollar strength begins to falter, ...
US Dollar Forecast– Dollar Risk of Correction as Speculative Appetite Wavers There is little doubt that the US Dollar maintains a fundamental advantage over most of its counterparts. Japanese Yen Forecast – USD/JPY Retail Boosts Long Exposure; 118.20 in Focus Ahead of BoJ The Bank of Japan (BoJ) interest rate decision may heighten the appeal of the Japanese Yen and spur a further decline in USD/JPY should Governor Haruhiko ...
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