The US dollar jumped on opening on Monday and quickly reversed gains but remained within approx. $50 range for the day. Fresh escalation in the Middle East added to inflation concerns and expectations that the Fed would keep its hawkish stance for some time, with news that large pension funds are returning to dollar, after last year’s migration,…

Gold edged lower after opening with $20 gap lower on Monday, following the latest escalation in the Middle East that fueled inflationary risk and added to expectations that the Fed will keep higher interest rates or possibly opt for rate hikes, providing support to US dollar. Markets also focus on this week’s key economic data – release of US…

EURGBP holds within narrow consolidation on Thursday after hitting new over one year low in strong bearish acceleration in past couple of sessions. The pair is also on track for the third consecutive strong weekly loss, as Sterling continues to benefit from calmer political situation after resignation of PM Starmer (although still with a lot of…

The New Zealand dollar rose 0.75% in immediate reaction to (expected) action of the RBNZ to raise interest rates by 25 basis points to 2.5%, earlier today. This was the first rate hike in almost three years, with comments from the policymakers pointing to potential further tightening (although without timing for the future action), as some…

Brent price jumped over 4% on Wednesday morning, extending recovery leg from temporary base at $70 zone. Fresh acceleration was sparked by the latest comment from President Trump that deal with Iran is over, following the latest fire exchange between US and Iran that undermined recent optimism and started to lift oil prices again. Bounce from…

Tuesday’s action, shaped in tight Doji candle, suggests that recovery leg from 0.6865 (June 30 low) starts to lose traction, following repeated failure at initial Fibo barrier at 0.6961 (23.6% retracement of 0.7271/0.6965) reinforced by falling 20DMA. Overbought stochastic and south-turning RSI (currently at 42) on daily chart, warn of potential…

Cable moves within a narrow-range sideways mode for the second consecutive day, after 1% advance last week that completed reversal pattern on weekly chart (after the downleg from 1.3869 was contained by ascending trendline, drawn off 1.0348, 2022 low) and generated positive signal on close above weekly Ichimoku cloud top (1.3335). On the other…

Strong rise in early Monday trading is about to fully reverse last week’s 162.84/160.47 pullback, which marked a healthy correction (contained by Fibo 23.6% of 155.02/162.84 upleg) of larger uptrend. Completion of reversal pattern on daily chart confirms scenario as traders entered fresh longs at better levels, encouraged by absence of real…