Page 53 - Christopher Vecchio News Today

Chinese Yuan Selloff Sends EUR/CNH, USD/CNH Towards Pandemic Trendlines Advertisement Chinese Yuan Outlook: The Chinese Yuan gained sharply versus the major developed currencies over the past nine months, but Chinese New Year appears to have put the kibosh on the rally for now. Both EUR/CNH and USD/CNH rates have risen in recent weeks, perhaps foreshadowing a more difficult period for risky assets. It’s important to consider that Chinese statisticians typically combine dat...

Weekly Fundamental US Dollar Forecast: Mr. Powell Goes to Washington Advertisement Fundamental Forecast for the US Dollar: Neutral The main event of the week will be Fed Chair Jerome Powell heading to Capitol Hill for two days of testimony to deliver the semi-annual Monetary Policy Report. But traders shouldn’t sleep on the US economic calendar. The upcoming January durable goods orders and PCE/Core PCE price indexes may further enflame inflation fears, sparking more gains...

CAD/JPY rates have broken out higher, while USD/CAD rates may be ready to probe fresh lows.

Euro bulls may prefer EUR/JPY over EUR/USD for one key reason.

The DXY Index’s rebound in recent weeks has done little to revert the major technical damage sustained in recent months.

Weekly Technical Gold Price Forecast: Losing Key Uptrend Support Advertisement Weekly Technical Gold Price Forecast: Neutral Gold prices continue to struggle, even as the US Dollar falls back. Risk appetite is surging, reducing demand for the safe haven. China’s Spring Festival Golden Week is under way, meaning that global financial markets may see less trading activity coming out of Asia in the coming days. The IG Client Sentiment Indexsuggests that gold prices in USD-ter...

John Lennon comes to mind when thinking about the British Pound’s performance in 2021.

Central Bank Watch: BOE, ECB, & Fed Interest Rate Expectations Update Advertisement Central Bank Watch Overview: None of the three major central banks are expected to cut interest rates in 2021, despite jawboning otherwise. While the ECB threatens an exchange rate study and openly opines on market-based rate expectations, the BOE has distanced itself from negative rates. Nevertheless, the Fed is likely to lead all central banks in terms of easing, exposing the US Dollar. Ret...

Gold Price Forecast: Key Test as Price Rebounds to Former Support - Levels for XAU/USD Advertisement Gold Price Outlook: Gold prices have rallied sharply in recent days, but they’re not in the clear just yet. Gold prices are struggling to climb back above their daily 5-, 8-, 13-, and 21-EMA envelope, which remains in bearish sequential order. According to the IG Client Sentiment Index, gold prices have a mixed bias. Gold Prices Bounce, but is it Believable? Gold prices los...

EUR/USD rates have broken their downtrend from the nascent yearly high, while EUR/JPY rates continue to consolidate in a short-term triangle.