Page 54 - Christopher Vecchio News Today

The two major AUD-crosses have been trading in bull flags in recent weeks, but the consolidations may soon be finished.

FX Week Ahead - Top 5 Events: China, Mexico, & US Inflation Data; Fed Speeches; UK GDP FX Week Ahead Overview: Price pressures are in focus for market participants with inflation data from Mexico (Tuesday), China (Wednesday), and US (Wednesday). Focus returns back to the US Dollar in the coming days, with the US fiscal stimulus talks ongoing and Fed Chair Jerome Powell set to deliver a speech Changes in retail trader positioning suggest that most USD-pairs are on mixed footing. 02/09 TUESDAY |...

US Dollar Forecast: Time to Fade the DXY Index Rally? Advertisement US Dollar Outlook: The US Dollar may not have many bullish catalysts ahead of it, unless of course taper tantrum fears begin to set back in. The January US inflation rate (CPI) report and Fed Chair Jerome Powell’s speech on Wednesday are the top events in the coming days. The IG Client Sentiment Indexsuggests the US Dollar is on mixed footing heading into mid-February. US Dollar Turns Lower in a Meaningful...

British Pound Forecast: Proving Resilient, Bullish Breakouts in Progress Advertisement British Pound Outlook: Despite some weakness on the day, the British Pound has been noticeably resilient during the US Dollar’s recent rally – a good omen for future British Pound strength. GBP/JPY and GBP/USD are in bullish breakout territory while EUR/GBP is below multi-month range support, suggesting that British Pound strength may be just getting started. Retail trader positioning suggests a mixed bia...

Central Bank Watch: BOC, RBA, & RBNZ Interest Rate Expectations Update Advertisement Central Bank Watch Overview: The commodity currencies have stumbled out of the gates in 2021. The Canadian Dollar in particular has proven weak as the country’s vaccination rates have slowed. Still, none of the central banks tied to the commodity currencies (AUD, CAD, NZD) have seen either rate cut or hike odds move meaningfully. Central Banks Kick into Gear Now into the second month of th...

Gold Price Forecast: Once More, All That Glitters…Not Gold - Levels for XAU/USD Advertisement Gold prices have followed silver prices lower as the day trading frenzy has hit rough waters. Gold prices are fully below their daily 5-, 8-, 13-, and 21-EMA envelope, holding in bearish sequential order. According to the IG Client Sentiment Index, gold prices have a bearish bias. Gold Prices Mirror Silver’s Fall Gold prices may not have proven as volatile as their precious m...

Weekly Technical Euro Forecast: Its a Mixed Bag Advertisement Technical Forecast for the Euro: Neutral Selection matters in the EUR-crosses, as each major pair is seemingly in its own world. EUR/USD has struggled while EUR/JPY has rallied, and EUR/GBP is still in Brexit’s thrall. Significant technical levels have been reached in each of the three major EUR-crosses in recent days. The IG Client Sentiment Index suggests that most EUR-crosses have a mostly bullish trading bia...

Silver Price Forecast: Pandemic Uptrend Support Nearby - Levels for XAG/USD Advertisement Silver Price Forecast Overview: Silver prices are proving sluggish as January comes to a close, with the uptrend from the coronavirus pandemic low coming into focus as critical support soon. It remains the case that long-term technical studies still suggest that a bottoming process is underway, and even a near-term pullback in silver prices has not and may still not disrupt the narrativ...

Euro Forecast: Trading Through Political Headwinds - Setups in EUR/JPY, EUR/USD Rates Advertisement Euro Forecast Overview: The Euro is proving resilient despite a resurgent US Dollar, and it now may be finding the footing needed before attempting another turn higher. Rising political risks in Italy and the Netherlands has been shrugged off by the Euro, as has some dovish jawboning by the European Central Bank. Per the IG Client Sentiment Index, the Euro still has a bullish ...

US Recession Watch, January 2021 - Slowing Growth Evident as Calendar Turns Advertisement US Recession Watch Overview: Although US Treasury yields have risen in recent weeks, 4Q’20 growth expectations have slid. A double dip recession may or may not be avoided in 1Q’21, depending upon the timing of US fiscal stimulus. The New York Nowcast estimate for 4Q’20 GDP is at +2.58%, while the Atlanta Fed GDPNow model is pointing to loftier+7.5% growth. Rates markets continue t...