Page 55 - Christopher Vecchio News Today

FX Week Ahead - Top 5 Events: UK Jobs, Australia Inflation, Fed Meeting, Mexico & US GDP FX Week Ahead Overview: The last week of the month brings about the usual smattering of event risk from around the globe. The US economy will be in particular focus over the coming days, with the first Federal Reserve rate decision of the Biden presidency and the initial Q4’20 US GDP report on the docket. 01/26 TUESDAY | 07:00 GMT | GBP Employment Change (OCT) & Unemployment Rate (NOV) The UK economy has ...

Canadian Dollar Forecast: On the Verge of a Bullish Breakout? Levels for CAD/JPY, USD/CAD Advertisement Canadian Dollar Forecast Overview: CAD/JPY rates look ready to trade higher as multi-year resistance is pressured. USD/CAD rates look like they want to try higher too, however, with a bullish falling wedge taking shape in recent weeks. The first Bank of Canada rate decision of 2021 proved an ineffectual central bank that doesn’t want a stronger currency but can’t do mu...

Gold Price Forecast: What to Make of Recent Rebound? Levels for XAU/USD Advertisement Gold Price Forecast Overview: Gold prices have proven extremely sensitive to US Treasury yields and the US Dollar, in both directions. Failure to climb back above the August-November 2020 downtrend warns that bull aren’t yet back in control. According to theIG Client Sentiment Index, gold prices may soon trade higher. Gold Prices Struggling to Regain Narrative Gold prices have had a tough...

Central Bank Watch: BOC & ECB Interest Rate Expectations Update Advertisement Central Bank Watch Overview: Both the Bank of Canada and European Central Bank met in recent days, setting the tone for 2021: more easing is possible, but might not be needed. While the BOC outright complained about Canadian Dollar strength, there’s also the consideration that they can’t do much to stop further appreciation. On the other hand, the ECB avoided specific reference to the Euro itse...

New Zealand Dollar Forecast: Bull Moves May Not Be Done Yet - Setups in NZD/JPY, NZD/USD Advertisement New Zealand Dollar Forecast Overview: Despite losses over the past week, the New Zealand Dollar may soon be positioned to resume its multi-month uptrend. Commentary from the BOC hints at the troubles the RBNZ faces: a strengthening currency, and a lack of firepower by which to halt the rise. According to the IG Client Sentiment Index, the New Zealand Dollar retains a beari...

Canadian Dollar Forecast: Loonies Wings Clipped? Levels for CAD/JPY, USD/CAD Advertisement The Canadian Dollar has struggled to recapture bullish momentum as FX markets continue to rebalance US Dollar positioning. USD/CAD rates set a fresh yearly low last week but have since returned to their yearly open. CAD/JPY rates, on the other hand, have only stumbled near critical longer-term resistance. Canadian Dollar Trying to Find Footing Risk appetite is on the rise in 2021, at least if you look at ...

Euro Forecast: Deeper Setbacks Take Foot in EUR/JPY, EUR/USD Rates Advertisement Euro Forecast Overview: The Italian government is on the verge of failing, while the Dutch government collapsed two months prior to elections. Political risk is weighing down the Euro. EUR/USD has been on worse footing than EUR/JPY as the DXY Index continues its climb. Per the IG Client Sentiment Index, the Euro still has a mixed bias in the short-term. Euro Dealing with Political Risks There’...

Silver Price Forecast: How Bad Have Bulls Been Harmed? - Levels for XAG/USD Advertisement Silver Price Forecast Overview: Silver volatility has gone up in recent days, but silver prices have come down. That’s not a good sign, as silver price and silver volatility typically enjoy a positive correlation. Nevertheless, 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 narrative. Re...

Weekly US Dollar Fundamental Forecast: Down, But Not Out Advertisement Fundamental Forecast for the US Dollar: Neutral The US Dollar (via the DXY Index) finished the week higher, even as the December US jobs report came in worse than expected with the first jobs loss since April. Five speeches by Federal Reserve policymakers, including one by Fed Chair Jerome Powell, will likely draw just as much attention as the two ‘high’ rated data releases on the forex economic calen...

Are Gold Prices Losing their Luster? What is Copper Telling Traders? Precious Metals Update Overview: Typically speaking, gold is the strongest precious metal during periods of high volatility, uncertainty and overflowing liquidity. Gold should theoretically rise in a world with low interest rates and high deficits. It may not be the leader, in fact when we look at some of the internal workings within the metals market. To find a period commensurate with current conditions, you may have to look...