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  1. EUR/USD bears are in town, but face an important long-term support wall EUR/USD is up barely on the begin of the week, buying and selling 0.10% better on the time of writing. The bulls are enticing at a crucial aid degree at the charts, as illustrated below. Meanwhile, the greenback remains close to a 12 months-and-a-1/2 of excessive in opposition to the euro with equities markets volatility predicted to underpin the dollar on a completely busy time table for the week ahead. The markets will eye the approaching Australian, UK and European valuable financial institution conferences as the important thing occasions even as persevering with to charge the Federal reserve`s hawkish dominance into the marketplace. This has been assisting the greenback index (DXY), which measures the dollar in opposition to six essential friends with inside the 97.00 areas. Friday’s 18-month pinnacle of 97.441 turned into a crucial milestone that has set the scene for the week ahead. The dollar had its fine week in seven months closing week supported with the aid of using buyers searching for protection amid a sell-off in riskier assets. With the marketplace pricing extra than 90% risk of as a minimum 4 charge hikes with the aid of using the cease of the 12 months and a 67% risk of as a minimum five, the dollar stays underpinned. However, the facts this week should rock the apple cart. US payroll figures are out on Friday. ”Consensus sees 150k jobs introduced vs. 199k in December, even as the Unemployment Rate is visible regular at three.9% and common hourly income are visible selecting as much as 5.2% YoY from 4.7% in December,” analysts at Brown Brothers Harriman said. Other key occasions for America will consist of the ADP document that gives its private-area jobs estimate Wednesday, with consensus at 200k vs. 807k in December. The analysts additionally referred to that the December JOLTS task openings may be suggested Tuesday announcing that 10.three mln are predicted and defined that this ought to assist spherical out the hard work marketplace picture. ”Barring a whole disintegrate within side the economy, the Fed goes on the belief that we’re nearing complete employment and could preserve to tighten till the facts warrant a pause.” Meanwhile, the European Central Bank additionally has a coverage assembly Thursday. The valuable financial institution is on cruise manipulate, as a minimum for the primary 1/2 of of 2002, however analysts are beginning to warn that drawing near charge hikes from the Fed will cut back the ECB’s window for action. ‘The ECB is in cruise manipulate for 2022H1, and we assume little alternate in messaging at this week’s coverage decision, specially as no new forecasts may be released,” analysts at TD Securities defined. Read Full News : Daily & Weekly Analysis on XtreamForex
  2. GBP/JPY tracks sustained break above 154.75 amid impending bearish crossover GBP/JPY builds on three-day bullish momentum as bulls eye maintains movement above recent highs near 154.75. The ongoing recovery over the past decade can be attributed to the Fed’s hawkish outlook on interest rates and a shrinking balance sheet, which sent USD/JPY up sharply along with the US dollar and profit margins i.e. US dollars. Additionally, a major breakout in the US fourth quarter annual GDP data also fueled the US Dollar’s upside momentum, helping the upside seen in USD/JPY, as well as GBP/JPY. Meanwhile, the sense of calm before the Russia-Ukraine crisis, as the US sought to defuse diplomatic tensions, weighed on the appeal of the Japanese yen, which in turn contributed to a rise in the GBP/USD exchange rate JPY. On the other hand, the impending Brexit and political instability in the UK continue to keep the GBP bears alive and happy. The Irish Democratic Unionist Party`s (DUP) First Minister Paul Givan said that the UK must take action if the European Union (EU) agreement cannot be reached by February 21. Meanwhile, members of the UK PM Boris Johnson`s Conservatives party are considering their options, as pressure mounts on Johnson over his involvement in the violation of government rules during the covid lockdown in the country. Looking ahead, markets will remain focused on the geopolitical developments and UK political news ahead of the US PCE inflation release. From a short term technical perspective, GBP/JPY is trying hard to extend the upside towards 155.00 but bulls remain cautious amid a looming bear cross on the daily sticks. The 50Daily Moving Average (DMA) is on the verge of cutting the 100DMA for the downside, which will flash a bearish signal. Immediate resistance is seen at 154.75, above which the 155.00 round will be tested. Read Full News : Daily & Weekly Analysis on XtreamForex
  3. USD/JPY takes the bids to refresh weekly top, jumped the most in 14 days post-Fed USD/JPY justifies hawkish Fed showdown whilst taking the bids close to 114.75, up 0.15% intraday to refresh weekly pinnacle as Tokyo opens for Thursday. The yen pair rose the maximum in 3 weeks after the United States Federal Reserve (Fed) matched hawkish expectancies with the aid of using the marketplace because it flagged hobby price hikes amid inflation woes. The US Federal Reserve (Fed) saved benchmark hobby charges and tapering goals intact at some point of Wednesday`s Federal Open Market Committee (FOMC) meeting. However, the exciting element from the Monetary Policy Statement was, “The Committee expects it’s going to quickly be suitable to elevate the goal variety for the federal budget price.” Fed Chairman Jerome Powell additionally spoke in sync with the hawkish indicators from the United States crucial financial institution whilst saying, “There`s masses of room to elevate charges.” Though, his feedback like, “The price-hike direction might depend upon incoming information and cited that it is `impossible` to predict,” regarded to have probed the USD/JPY bulls later on earlier than the modern-day run-up. It`s really well worth noting that the United States caution to scrap Nordstorm 2 oil pipeline address Russia if it invades Ukraine and the report excessive covid numbers in Japan are probable to nited States T-bond yields live more impregnable round 1.87% whilst the S&P 500 Futures print moderate profits with the aid of using the click time. Read Full News : Daily & Weekly Analysis on XtreamForex
  4. XAU/USD is in a bullish zone near the key $1,850 level Gold (XAU/USD) remains in bullish territory near the psychological $1,850 level as the market awaits key Federal Reserve results during today’s midday New York session. On the other hand, the US dollar is under pressure to test the resilience of the 96 figure in the DXY, an indicator that measures the greenback against several major currencies. There are a number of factors influencing the US dollar case, ranging from less aggressive month-end results from the Fed and the bond market’s lack of expectations for an ultra-fast rate hike by the Fed. This was evident during Tuesday’s five-year Treasury auction. The high bid-to-bid ratio is the same as the yield when the US sells the 5-year bond at 1.533% compared to the WI of 1.547% when it sells $55 billion. This is the highest yield since October 2019. The previous was 1.263% and the hedging bid was at 2.50 versus 2.41 previously. This suggests that the market may be pricing the Fed too hawkish in the medium term, which has weighed on the US Dollar. For the Fed, “The fact that funds are likely to raise rates in March has been well communicated, so the ‘prepare for takeoff’ signal will not move the market. More important will be any indication of the likely pace of tightening, via QT as well as fund rates, in the next year/year,” TD Securities analysts argued. The yellow metal rallied for the past two days in a row, also breaching the key northbound barrier a day earlier, as traders flocked to traditional risk-off amid market worries about where to go next for the US Federal Reserve (Fed). Adding to the upside could be geopolitical tensions and pessimistic economic forecasts from the International Monetary Fund (IMF). Fed hawks rejected US Consumer Confidence numbers weaker than CB and Richmond Fed Manufacturing Index on firmer US inflation expectations, over 10 breakeven inflation rate year according to data from the Federal Reserve Bank of St. Louis (FRED). gold buyers. The inflation gauge rose for a third consecutive day on Tuesday after falling to its lowest level since September on Jan. 20. In a different development, the United States, United Kingdom and European Union ( EU) is determined to impose economic sanctions on Russia if it invades Ukraine, which keeps geopolitical concerns on the table. In addition, the IMF’s No. 2 official, Gita Gopinath, a day earlier made pessimistic economic forecasts as Omicron spreads. “We expect global growth this year to be 4.4%, 0.5 percentage points lower than expected, mainly due to a downgrade in the US and China,” the IMF’s Gopinath told Reuters. Additionally, the recent passage of the US COMPETITION Act is providing further support to gold prices amid concerns about an escalation in the US-China relationship. Amid mood swings, US Treasury yields remained behind as S&500 futures posted the latest slight gains. That said, Wall Street posted losses and the US Dollar Index (DXY) rallied a day earlier. Read Full News : Daily & Weekly Analysis on XtreamForex
  5. NZD/USD hit by a toxic cocktail with risk themes Down around 0.15%, NZD/USD is currently trading near 0.6690 and is moving between a low of 0.6670 and a high of 0.6709. Escalating tensions between Russia and Ukraine became the driving force as investors pounced on the Federal Reserve on Wednesday, As a result, the S&P 500 went so far after a correction, its first. first since the 2020 crash in the world. market caused by the coronavirus pandemic. However, US stocks ended higher on Monday after reversing heavy losses early in a late rebound ahead of megacap tech earnings and this week’s Federal Reserve policy meeting. The Nasdaq Composite rose 0.6% to 13,855.13, turning green in a strong last-minute reversal. The S&P 500 gained 0.3% to 4,410.13 and the Dow Jones Industrial Average also gained 0.3% to 34,364.50. Meanwhile, ‘data points to a slowdown in economic activity at the start of the year, amid broader inflation concerns’, said analysts at ANZ Bank. This week, the Consumer Price Index will be the focus on this issue. “The 10% increase in oil prices from Q4 will make transportation a major contributor to equities with upside risk coming from housing, mainly due to spending,” TD Securities analysts explained commodity prices increased and consensus was faster,” explained TD Securities analysts. “A print close to 6%, a 3-decade high is unlikely to trigger a significant market reaction, but a print that matches the RBNZ forecast of 5.7% YoY would lead to a rally recover. Read Full News : Daily & Weekly Analysis on XtreamForex
  6. USD/JPY renews weekly lows below 114.00 as profits drop, BOJ Minute USD/JPY remains down for the third day in a row, down 0.30% on the day around 113.85 when Tokyo opens on Friday. The yen pair depicts market risk aversion while tracking falling Treasury yields and equities. Concerns about a hawkish appearance by the US Federal Reserve (Fed) at next week’s monetary policy meeting seems to be weighing on USD/JPY prices. Along with that are recent pessimistic signals from the minutes of the Bank of Japan’s (BOJ) monetary policy meeting as well as mixed inflation data from Japan. Expectations for a Fed rate hike signal were bolstered after US Treasury Secretary Janet Yellen said in an interview with CNBC: “Inflation has risen more than most economists, myself included. , and of course our responsibility to the Fed to fix it. And we will. “It should be noted that hesitancy over the US-China relationship also affected market sentiment and USD/JPY prices, but did not give a date. The 10-year US Treasury posted daily losses on Tuesday two in a row, down four basis points to 1.79% latest, while S&P 500 Futures are down 0.30% on the day at press time that said USD/JPY prices encourage data mixed data as an excuse for Bullish bets on greenback and treasury yields. US jobless claims hit their highest level since late October and details from the Philadelphia Fed manufacturing survey also improved in January. Read Full News : Daily & Weekly Analysis on XtreamForex
  7. XAU/USD stands at a two-month high of $1,845 despite more steady yields Gold prices maintain previous rally momentum as it sits near fresh two-month highs of $1,844 set in early Asia. The upside potential for the shiny metal remains intact although continued strength is seen around the on-curve US Treasury yields. Gold prices benefited from soaring inflation in the UK and Germany as investors boosted demand for gold as an inflation hedge. Meanwhile, US President Joe Biden also called on the Fed to curb the fastest inflation rate in decades. Going forward, the US Dollar valuation and yield price action will continue, with all eyes on the final Eurozone CPI release. Weekly US data on jobless claims and existing home sales may also provide trade incentives. Gold (XAU/USD) from yesterday’s spike around $1,839, is down 0.22% on the day in the early Asian session as market sentiment deteriorates. The yellow metal rallied to a two-month high on Wednesday after US Treasury yields retreated from multi-day highs and engulfed the US dollar. However, the latest speech by US President Joe Biden has revived hopes of a faster Federal Reserve normalization of monetary policy, thereby boosting bond purchases and pull the price of gold higher. US President Biden highlights efforts by chief trade negotiator Katherine Tai to quell Sino-US trade disputes. However, he also mentioned that the US “has not yet achieved the ability to ease tariffs on Chinese products”. Biden also said, “China doesn’t live up to their purchase commitments.” In addition, the comments in favor of the US Federal Reserve Chairman Jerome Powell’s efforts to re-adjust the support level also raised concerns about accelerating the pace of interest rate hikes and normalization balance sheet, thereby adding downward pressure on gold prices. In addition, US President Biden also directly warned Russia not to invade Ukraine and that if it did; it would lose access to the US dollar. Elsewhere, uncertainty surrounding US stimulus measures and upcoming moves by the People’s Bank of China (PBOC) also weighed on gold prices. US President Biden has signaled that Build Back Better (BBB) stimulus talks are underway, but US Senator Joe Manchin dismissed the comments. Additionally, the PBOC is set to make a rate decision at 01:30 GMT, with market participants evenly split between initial signals of a rate cut from China’s central bank and latest comment from PBOC Deputy Governor, Liu. Guoqiang. The PBOC official mentioned that the central bank “will keep the yuan exchange rate essentially stable.” Read Full News : Daily & Weekly Analysis on XtreamForex
  8. GBP/USD: UK policy is in the driver’s seat, BoE also center of attention GBP/USD has been fairly steady on the day so far in a quiet start to the week following a significant correction on Friday with demand for the US Dollar, which has been heavily bid at the start of the year. So far, the cable is trading near 1.3680 in a tight range between 1.3661 and 1.3676. £ could find comfort this week on the UK Gross Domestic Product which was released on Friday and beat expectations. The data suggest that Omicron’s impact on growth is likely to be modest in the end. In information of late, Prime Minister Boris Johnson may also scrap his plan-B Covid limit in England, the Telegraph on Friday. This ought to underpin the pound, ultimately, because of potentialities of competitive hawkish moves from the Bank of England. Data may be eyed for heading again to round pre-pandemic ranges and inflation may be monitored. However, UK political occasions withinside the UK ought to hamstring the pound as Prime Minister Boris Johnson is going through calls – additionally from withinside the Conservative birthday birthday celebration – to resign. The PM admitted he participated at a meeting in Downing Street in May 2020, whilst strict containment guidelines had been in place (Partygate). Labour has argued that the PM may also scrap the covid limit to distract from Partygate. Read Full News : Daily & Weekly Analysis on XtreamForex
  9. XAU/USD bulls point to further US dollar weakness Potential catalysts for the day ahead will come during the US session with New York Fed President John Williams and retail sales in the United States. The Fed will then enter a shutdown until its next interest rate decision later this month. This makes the US data the proof. TD Securities analysts explain that retail sales are likely to decline in December, even as higher prices have boosted nominal values. “Spending may be dampened by the disappearance of fiscal stimulus, an earlier-than-normal recovery of holiday shopping and Omicron. We are looking for a notable drop in total revenue of 1.4% month-on-month (consensus: 0.1%) and a larger decrease of 2.0% for the control group (consensus level: 0.1%) consensus: unchanged). Real and nominal spending remained strong QoQ and strong YoY dollars. XAU/USD is trading around $1,820 and down around 0.1% as the DXY index attempts to correct its late-December lows until the current financial year’s sell-off. US$ as measured by the DXY Index, sold off from 96.90 to a recent low of 94.66. For weeks, XAU/USD is up more than 4%. However, in what could be a more technical move, the yellow metal failed to capitalize on falling US yields and the greenback on Thursday. DXY fell 0.4% and the US 10-year yield fell 2.5 basis points to 1.718%. “The persistently weak US dollar failed to lift gold prices as investors expressed concerns about the Fed’s hawkish move to contain inflation,” said analysts at ANZ Bank. However, that won’t explain why the greenback and yields continue to fall. Instead, the bond market appears to be reassessing the pace of the Fed’s balance sheet liquidation following less hawkish rhetoric from Fed Chairman Jerome Powell and Fed Chairman Philly Patrick Harker. On Thursday, Harker said he sees the Fed beginning to shrink its balance sheet “in late 2022 or early 2023” after the central bank raised its target interest rate enough, to about 1% from level close to zero. The comments echo those of Powell, who said the Fed could begin shrinking its balance sheet later this year during a confirmation hearing before the Senate Banking Committee. “At some point, maybe later this year, we’re going to start to see the balance sheet collapse, and that’s just the path to policy normalization,” he said, adding that the US economy “no longer needs or wants” the Fed. policy is very appropriate. Read Full News : Daily & Weekly Analysis on XtreamForex
  10. EUR/USD swings between 1.1400 as ECB-Fed fight intensifies after US inflation EUR/USD is balanced around the highest level since mid-November early Thursday morning in Europe. Major currency pairs made the biggest jump in 5 weeks the previous day as the US dollar fell to multi-day lows as inflation data matched expectations, causing market challenges causing the US dollar to drop to multi-day lows. There will be less ammo when they meet on Jan. 25. That suggests, the US Consumer Price Index (CPI) hit its highest level since 1982 while still hitting a forecast of 7.0% year-over-year, down from 6.8% in previous readings. The monthly figures stood at 0.5% vs 0.4% expected but fell below 0.8% previously. However, Fed policymakers have reiterated their bullish bias following the release of inflation data, thus stressing EUR/USD bulls in recent times. . The Chairman of the Federal Reserve St. Louis James Bullard was the first to declare, according to the Wall Street Journal (WSJ), “four rate hikes in 2022 appear to be on the cards and, in the face of high inflation, and one in March seems very likely. Then a member of the Fed’s Board of Governors and the new FOMC vice president, Lael Brainard, also mentioned: signaled a rate hike as early as March. On the other hand, European Central Bank (ECB) decision maker François Villeroy de Galhau states: “We are very close to the peak of inflation. It should be noted that industrial production in the euro area increased 2.3% month-on-month in November from previously revised 0.5% and 1.3% forecasts. With the recent escalation of pressure on Fed policymakers, bond yields consolidate previous losses, raising questions about equity futures and assets more risky. However, a large number of policymakers from the European Central Bank (ECB) and the Fed will speak on Thursday, thus providing an active day for EUR/USD traders. In addition to monetary policy signals, the US Producer Price Index (PPI) for December and weekly jobless claims, along with the European Economic Bulletin, will also lead the pair’s moves Short-term. Read Full News : Daily & Weekly Analysis on XtreamForex
  11. USA T-bond yields, S&P 500 Futures portray pre-Inflation anxiety Global markets began to slow on Wednesday as key US inflation cautious sentiment probed earlier optimism fueled by US Federal Reserve Chairman Jerome Powell. The risk appetite also defies concerns about the coronavirus with links to South Africa, specifically Omicron, as well as CPI/PPI data from China, not to mention the World Bank’s 2022 economic forecast. While portraying the mood, 10-year US Treasury yields remained under pressure around 1.741% as 2-year yields fell for the second day in a row, down 1.2 basis points (bps). closest near 0.887. In addition, the future S & P 500 is struggling to keep up with Wall Street’s profits, unchanging about 4,705 at the press time. Two key measures of China’s inflation eased December and tested already sluggish markets later this year. That said, the overall Consumer Price Index (CPI) fell below 1.8% forecast and 2.3% ahead of 1.5% year-on-year, while last month’s index also fell. down 0.3% from +0.2% expected and +0.4% from previous readings. In addition, ex-factory inflation, production price index (PPI), also dropped below 11.1% expected and 12.9% earlier, to 10 3% compared to the same period last year for December. On the other hand, a new record of daily fallopian tube infections in Australia and an announcement of a public health emergency in Washington DC are also probing risk takers. In addition, the increase in virus cases in China, recently 166 cases compared to 110 cases a day earlier, is adding to commercial filters. Elsewhere, negative economic forecasts from the World Bank (WB) also challenged previous market optimism. The World Bank cited the coronavirus issue as lowering its global GDP expectations for 2022 to 4.1% from 4.3% previously estimated. The World Bank also cut its economic forecasts for the United States and China, by 0.5% to 3.7%, and 0.3% to 5.1%, respectively, for 2022. Read Full News : Daily & Weekly Analysis on XtreamForex
  12. AUD / USD approaches 0.7200 as risk sentiment joins Australian mixed data The AUD / USD hit a daily high near 0.7185 as mixed data at home added to the market’s cautious optimism to challenge immediate action early on Tuesday. 4,444 Australia’s retail sales exceeded expectations of 3.9%, 4.9% exceeded 7.3% MoM and the trade balance reached 9423 million. Details suggest that both exports and imports rose to 2.0% and 6.0 on the order of 3.0%. %, each. Data aside, the cautious optimism of the market considering the risk barometer status of the pair can also be cited as an additional catalyst for the recent rise in the AUD / USD pair. The limited comments of Federal Reserve Chairman Jerome Powell can be seen as a major risk of risk sentiment, according to the comments prepared for today’s testimony. “The economy is growing faster than it was a few years ago, and the labor market is resilient,” the Federal Reserve said, strengthening his promise to prevent high inflation. In addition, comments on Merck’s official slogan, “Any variant of Covid, where the Molnupiravir mechanism expects to counter Omicron,” can be quoted as positive for risk-taking. According to the Federal Reserve Bank of St. Louis’ (FRED) 10-year breakeven inflation rate, stable inflation expectations in the United States are also challenging bears ahead of key US consumer price index (CPI) data in December. It’s worth noting. In these developments, US equity futures have recorded a slight rise, while 10-year Treasury yields have raised their previous day’s pullback by 2.3 basis points (bps) from the previous year’s highs to 1.757% at the latest. I’m pulling it up. Read Full News : Daily & Weekly Analysis on XtreamForex
  13. USD/JPY remains sluggish around 115.50 amid Japan decline USD/JPY is hovering around 115.60 as holidays in Japan and lack of major data/events limited the pair’s move during Monday’s Asian session. Besides the lack of domestic companies, which are key to the global bond market, mixed concerns about the next move by the Fed and the coronavirus are also limiting the pair’s latest moves on the risk barometer. The US Dollar Index (DXY) posted its biggest daily loss in six weeks after the December jobs report failed to impress Fed advocates. That said, US Non-Farm Payrolls (NFP) disappointed markets with 199k numbers for December versus previous 400k and 249k forecasts (upgraded from 210k) thousand). However, the unemployment rate fell to 3.9% from 4.1% in the market and 4.2% in November, while the U6 underemployment rate fell to 7.3% from 7. .7% revised down in November, both closing pre-pandemic levels. It should be noted, however, that the disappointment led by the NFP has been largely offset by the unemployment and underemployment rates in the U6 age group, which appear to be challenging market sentiment during the period recent times. As a result, market bets on the Fed’s March 2022 rate hike remain at 80%, following Friday’s increase to 90% prior to data. Returning home, Okinawa, Hiroshima and Yamaguchi prefectures are seeing new virus activity restrictions starting Sunday, lasting until January 31. An increase in infections that the governors their say is derived from the spread of the Omicron variant in US facilities,” said Kyodo News. Elsewhere, struggles between the United States and China continued, recently over trade and human rights issues, as the Russia-Ukraine issue drew attention ahead of Washington’s meeting in Moscow this week. Between those games, S&P 500 futures are down 0.20% while non-Japanese Asia Pacific stocks trade mixed at press time. Read Full News : Daily & Weekly Analysis on XtreamForex
  14. NZD/USD slides to over two week low, below mid0.6700s amid stronger USD/risk off The NZD/USD pair endured dropping floor via the early European consultation and dropped to over a two-week low, under mid-0.6700s within side the ultimate hour. The pair prolonged the preceding day`s retracement slide from the 0.6835-forty place and witnessed heavy promoting all through the primary 1/2 of of the buying and selling on Thursday. The US greenback became again in call for following the discharge of especially hawkish FOMC assembly mins on Wednesday. Apart from this, the risk-off impulse in addition benefitted the safe-haven dollar and drove flows far from the perceived riskier kiwi. The December 14-15 FOMC financial coverage assembly mins pointed to a faster-than-predicted upward thrust in hobby rates. Moreover, a few Fed officers additionally notion that it’d be suitable to provoke stability sheet runoff in some unspecified time in the future after the primary increase. This underscored a massive shift with within the policymakers’ tone, which, in turn, became visible as a key thing that endured appearing as a tailwind for the USD. Meanwhile, the market was quick to assess an approximately 80% chance of a 25bp Fed hike in March 2022. This was reflected in the prolonged sell-off in the US bond market, pushing up government bond yields Long-term US – 10 and 30 years – to their highest levels since October. In addition, concerns about the rapid spread of the Omicron variant have sparked a new wave of risk-averse global trading. A combination of factors put a lot of pressure on the NZD/USD pair, resulting in a few short-term trading stops placed near the 0.6800 round figures. Therefore, a further drop to the 2021 tough low, around the 0.6700 mark reached on December 15, now looks a clear possibility. The negative outlook is reinforced by bearish technical indicators, which are still far from being in oversold territory. Read Full News : Daily & Weekly Analysis on XtreamForex
  15. NZD/USD sellers attack 0.6800 as yields, New Zealand corona virus cases drop NZD/USD maintained yesterday’s downtrend and dropped to 0.6800 during Wednesday’s Asian session. In doing so, the Kiwi pair discourages positive news regarding the coronavirus at home amid widespread pessimism about the virus. Stronger expectations of the Fed slated to raise rates in 2022 are also putting downward pressure on the listing. While reporting 46 new community cases of Covid19 in New Zealand, the NZ Herald said: ‘during the holiday period. On the other hand, “China reported 197 confirmed new corona virus cases on December 28, up from 209 cases a day earlier, its health authorities said on Wednesday,” according to Reuters. It should be noted that the UK is reporting a record number of daily infections, exceeding 122,000 a day after authorities ruled out any further activity restrictions for the rest of 2021. France joins with 179 807 new confirmed cases, making it the world’s heaviest daily toll. Elsewhere, “The average number of new COVID19 cases in the United States has increased by 55% to more than 205,000 per day over the past seven days,” according to a Reuters tally. Additionally, Australia’s most populous state of New South Wales (NSW) reported a doubling of fallopian tube infections on Tuesday, with 11,201 new infections and three deaths from the virus. Inflation expectations in the United States remain close to monthly highs, according to 10-year breakeven inflation data from the Federal Reserve Bank of St. and weigh in on the NZD/USD price. That said, the US released mixed data a day earlier, with the US home price index falling below the 1.2% forecast at 1.1% in October, while The S&P/Case Shiller home price index fell 19.5% ahead of 18.4%, against 18.5% of market consensus. . However, the Richmond Fed manufacturing index for December broke the adjusted number, rising from 12.00 to 16.00%. Amid those games, the 10-year US Treasury yield remains under pressure at 1.475% while the two-year benchmark, which hit its highest since March 2020, is also hovering at 0.746%. Additionally, the S&P 500 Futures index showed slight gains, while the latest Asia-Pacific stocks traded mixed. Read Full News : Daily & Weekly Analysis on XtreamForex
  16. USD/CAD consolidates losses around weekly lows below 1.2800 as oil eases from monthly high USD/CAD is struggling to regain the 1.2800 level while healing yesterday during Tuesday’s Asian session. The loonies seem to be watching the end of the risk-on mood as well as the decline in the price of Canada’s main export, WTI crude, to challenge the one-week drop from yearly highs. A question of previous optimism regarding the South African variant of covid, namely Omicron, as well as the lack of major updates, could be responsible for the recent disruption due to the weakening of the US dollar. Even so, the market holiday vibe joins the light news feed to challenge the pair’s momentum. USD/CAD is struggling to regain the 1.2800 level while healing yesterday during Tuesday’s Asian session. The loonies seem to be watching the end of the risk-on mood as well as the decline in the price of Canada’s main export, WTI crude, to challenge the one-week drop from yearly highs. A question of previous optimism regarding the South African variant of covid, namely Omicron, as well as the lack of major updates, could be responsible for the recent disruption due to the weakening of the US dollar. Even so, the market holiday vibe joins the light news feed to challenge the pair’s momentum. It should be noted that an increase in virus cases and fears of falling oil prices could challenge USD/CAD sellers in the absence of a major catalyst. Even so, data from US housing and Richmond Fed Manufacturing will come ahead of the American Petroleum Institute’s weekly prints of industry inventories to guide USD/CAD volatility in the short term. Read Full News : Daily & Weekly Analysis on XtreamForex
  17. XAU/USD hits $1,814 hurdle as Omicron weighs profits Gold (XAU/USD) shows slight gains around $1,810 on a dismal Monday morning. The yellow metal welcomed the weakening of the US dollar, as well as low Treasury yields to produce the latest gains around monthly highs, flashed on Dec. 17. That gives The US Dollar Index (DXY) fell 0.08% to 96.10 as 10-year US Treasury yields fell 1.1 basis points (bps) to 1.482%, falling back to highs the most in two weeks reached a day before. In contrast, S&P 500 Futures are up 0.11% on the day to around 4,720 by press time. Mixed concerns about the COVID19 variant in South Africa, specifically Omicron, join with cautious optimism surrounding US President Joe Biden’s Build Back to Better (BBB) plan, which promotes boost the recent risk-on mood. According to a Mastercard report, China’s industrial profits and an update from the US show an uptick in US retail sales data. However, the lack of key data/events joining the holiday mood in New Zealand, Australia, Canada and the UK seems to be holding back market movements. It should be noted that the Dallas Fed manufacturing index for December, expected at 13.2 versus 11.8 previously, could offer intermediate moves in a sluggish session expected. A sharp rise beyond the 200DMA gives gold buyers hope of overcoming the two-month horizontal barrier around $181,416 despite the holiday mood. After that, the double tops marked in July and September around $1,834 will return to the chart before $1,850 can challenge the bulls planning a break above the November highs. is $1,877. Meanwhile, the ascending support line from August around $1,778 is added to bearish filters below the 200DMA level of $1,797. Read Full News : Daily & Weekly Analysis on XtreamForex
  18. XAU/USD hangs at 100DMA ahead of US data Gold prices have remained steady so far in Asian trading on Wednesday, hovering around the daily moving average (DMA). The shiny metal lacks a clear direction, in the absence of a new catalyst, as attention now turns to US CB consumer confidence data for more impetus. Persistent concerns about the rise of Omicron covid variants in Europe, Australia and the UK continue to emerge amid a diminishing market situation over the holidays. Technically, gold prices remain confined between the major DMAs, with the 14-day Relative Strength Index (RSI) still hovering at 50.00, showing the acumen of gold traders. Gold (XAU/USD) remains slightly offered around $1,790, up for the second day in a row during Wednesday’s Asian session. Even so, the metal has not kept up with other risk barometers, such as Antipodeans and WTI, in depicting the mood at risk. The reason could be related to the cautious market sentiment ahead of the US data series as well as the bearish chart trend. The refusal by global policymakers of lockdown measures ahead of the Christmas holidays, despite the latest spread of the covid variant in South Africa, known as Omicron, seems to have boosted sentiment. . US President Joe Biden’s expectations for the completion of the “Build Back Better (BBB)” plan and vaccine/treatment optimism are also positive for gold. Although Texas reported its first Omicron-related death in the United States, President Joe Biden curtailed any nationwide embargo, as previously revealed, while promoting vaccination faster. Similarly, cautious optimism emanates from the Pacific countries and the United Kingdom. In addition, news that the US Food and Drug Administration (FDA) will allow a duo of drugs Pfizer and Merck to treat Covid19 earlier this week, according to Bloomberg sources, also added to the increase mood at risk. In addition, “President Biden said Tuesday that he believes there is still room to achieve his Better Build Back program, despite Senator Joe Manchin’s opposition to the spending bill social and climate goals,” said The Hill. In contrast, inflation expectations rose in the United States, as measured by the 10-year breakeven inflation point according to data from the Federal Reserve of St. Louis (FRED), ahead of key US data from this week challenges gold buyers. In addition, the struggles between China-US and the US-Russia add to the downward trend in gold prices. Read Full News : Daily & Weekly Analysis on XtreamForex
  19. The NZD / USD have struggled to benefit from a modest rebound from its year-to-date lows and is stable around 0.6725 NZD/USD held around the 0.6725 region in the early European session, although it seems to be struggling to capitalize on the intraday bounce from the current year lows. The pair once again succeeded in attracting buying near the round-figure 0.6700 mark on Tuesday and so far appears to have broken two consecutive days of losses. The strong recovery in risk sentiment globally – as evidenced by the positive rally in equity markets – is seen as a key factor in favor of the higher risk-aware kiwi. Additionally, the US dollar’s moderate price action extended additional support for the NZD/USD pair. That said, the hawkish outlook from the Fed, coupled with a slight rise in US Treasury yields, acts as a headwind for the greenback. It should be remembered that the Fed announced last Wednesday that it will double the rate of taper to $30 billion per month. Additionally, so-called dot plots have indicated that officials expect to raise the federal funds rate at least three times over the next year. Additionally, COVID19 anxiety capped gains in the NZD/USD pair. Investors remain concerned about the possibility of a recession due to the rapid spread of the Omicron coronavirus variant. Alternatively, a fatal blow to US President Joe Biden’s massive $1.75 trillion in social spending and the climate bill could stave off any upside moves in the market. Conversely, this warrants some caution before confirming that the NZD/USD pair has bottomed in the near term and positioning for any further upside. Read Full News : Daily & Weekly Analysis on XtreamForex
  20. AUD/JPY remains important in 80.70S the risk-free market AUD/JPY drops at the start of the week as risk-on risks continue to reverberate following Friday’s sell-off on Wall Street. At the time of this writing, AUD/JPY is down around 0.3% and sits between 80.73 and 81.04. 4,444 US stocks fell on Friday following news of the latest spike in COVID19 cases affecting the economic outlook. The S&P 500 index fell 1% to 4,620.64, ending the session 1.9 percent lower on Friday, and futures fell similarly in Asia. Omicron variants are spreading “at lightning speed” in Europe, and medical professionals have warned of the “virus snowstorm” powered by Omicron, which is sweeping the United States. US President Joe Biden talked about “a winter of serious illness and death” among unvaccinated people. The Omicron variant of Covid19 has “extraordinary ability to spread,” said a major US infectious disease expert on Sunday, promising to bring a dark winter as it “dominates the world.” In New York State on Friday, new daily records were reported with just over 21,000 new COVID 19 cases. In addition, consumer reaction to the Omicron epidemic in the UK suggests that the US service sector will also have a bad time despite the holiday season. Read Full News : Daily & Weekly Analysis on XtreamForex
  21. USD/JPY holds near 113.60 on steady hand at BoJ USD/JPY remains on the defensive as the European session approaches and was last seen trading near three-day lows, around mid-113.00. After struggling to find bullish acceptance above the 114.00 mark, USD/JPY sold off on Thursday and reversed the previous day’s FOMC move to monthly highs. A softer risk tone has benefited the safe-haven Japanese yen and put some pressure on the pair for the second straight day on Friday. Investors remain concerned about the economic risks associated with the rapid spread of the Omicron coronavirus variant and the imposition of new restrictions in Europe and Asia. This is evident due to weaker trading sentiment in global equity markets, forcing investors to seek refuge in traditional safe-haven assets. The flight to safety was bolstered by further declines in US Treasury yields, which left the US dollar bulls on the defensive. This is seen as another factor behind the tone given around the USD/JPY pair. The intraday drop appeared unaffected by the announcement of the Bank of Japan (BoJ) policy decision. The BoJ left its monetary policy parameters unchanged at the end of the December meeting, but decided to reduce the stimulus package in the event of a pandemic by the end of March 2022 deadline. That said, the decision. Emergency pandemic funding cuts have entered the market and, as such, have failed to provide a significant boost to the USD/JPY pair. In a press conference after the meeting, BoJ Governor Haruhiko Kuroda reaffirmed that the central bank remains ready to ease monetary policy further without hesitation if necessary. Kuroda added that there is high uncertainty about the impact of the spread of the Omicron variant and there is a need to monitor the risks associated with congestion. Read Full News : Daily & Weekly Analysis on XtreamForex
  22. WTI integrated Fed and EIA stocked over US $ 71.00 recovery in mixed sentiment WTI flattened its biggest daily rise of the week at the beginning of Thursday, dropping 0.07% to $ 71.30 that day. The recent fall in black gold may be related to cautious market sentiment and various concerns prior to major central bank meetings and PMI announcements. However, the previous day’s rebound is related to the Energy Information Administration’s (EIA) limited weekly inventory data and the Federal Reserve’s (FRB) bullish reaction to faster throttles and higher dot plots. There is a possibility. The deteriorating viral condition in Europe and the United Kingdom has joined the extension of the US-China Cold War to squeeze recent oil prices. It is worth noting that US pressure on Uighurville and the rush to manage Beijing’s data companies are the latest catalysts for the US-China struggle. The cautious mood for the European Central Bank (ECB) and Bank of England (BOE) meetings and the provisional PMI in December also weigh heavily on oil prices. We are looking for a clear direction as US 10-year Treasury yields fluctuate after a two-day uptrend as US equity futures boom. On Wednesday, The results of weekly EIA crude oil inventory fluctuations fell from 20.82 million to 45.84 million, more than double the forecast for the reporting period to 10 December and the signs of a rate hike in 2022. A statement by federal chief Jerome Powell, such as “Omicron’s variant poses a risk to the outlook,” and a view to abandoning rate hikes until the taper ends. Looking to the future, WTI traders need to be aware of short-term directional risk catalysts. Read Full News : Daily & Weekly Analysis on XtreamForex
  23. XAU/USD bounces with USD 1,770 support and Fed is in focus Gold (XAU/USD) is stable at around $ 1,772 and cannot recover from four months of support at the beginning of Wednesday. The price of the gold bar has fallen over the past two days amid growing concerns about a South African Covid variant known as Omicron and the limited hope of the Federal Reserve Board (FRB). But while vaccine news has questioned the issue of the virus, the continued decline in US inflation expectations and the surge in coronavirus infections have led to the Fed’s hawks during today’s Federal Open Market Committee (FOMC). May stop. According to a model shared by ABC News, Australia’s most populous state of New South Wales produces 25,000 new Covid cases daily, while the UK has more hospitalizations for Omicron and a shortage of rapid test kits. There is a possibility. Elsewhere, China and Europe appear to be suffering from a variant of COVID 19, but Japan is about to be optimistic. In addition, Pfizer reports that the three shots of the vaccine are 70% more effective and 33% safer for infection than hospitalization at Omicron. The drug company also reported that the experimental COVID 19 pill, Paxlovid, is effective in tame all variants of Covid, including Omicron. Conversely, US Federal Reserve Bank of St. Louis (FRED) data show that US inflation expectations, measured at 10-year breakeven inflation, have fallen to 11-week lows, in contrast to record-high producers. is. November Price Index (PPI) for testing Federal Reserve Bank hawks. “We expect the monthly pace to double from $ 15 billion to $ 30 billion, which is in line with the end of quantitative easing in mid-March rather than mid-June. Authorities also said in a statement, economic forecasts. , May use a scatter chart change to convey a more aggressive tone. The median is expected to show a 50 basis point increase in fund interest rates in 2022, “TD Securities said. Elsewhere, geopolitical and trade tensions between the United States and China, and between the United States and Iran also emphasize market sentiment, but face a slight reaction from the Fed. Read Full News : Daily & Weekly Analysis on XtreamForex
  24. EUR/USD is still at risk of Omicron Covid EUR/USD fell on prospects that the EU will become the epicenter of the new covid strain, Omicron. As of this writing, EUR/USD is trading from 1.1277 to the lows of 1.1273 and 1.1286, with little or no change throughout the day in the early-week range. According to the European Center for Disease Control and Prevention (ECDC), at least 6,430 cases of the strain have been confirmed in 70 countries since the discovery in late November. This option is said to be becoming dominant in Europe. Although European countries first reported cases of the disease, this strain has not yet been found across the continent. Meanwhile, concerns over new options boosted risk sentiment on Monday and the FTSE 100 closed 0.73% lower at 654. The S&P 500 closed 0.9% lower at 4,668.97 on similar margins. The Nasdaq Composite Index fell 1.4% to 15,413.28, and the Dow Jones Industrial Average fell 0.9% to 35,650.95. The yield on the 10-year U.S. Treasury fell 8 basis points to 1.41%, and the yield on the 2-year Treasury bond fell 3 basis points to 0.63%. EUR/USD reduced the loss to around 25 pips to 1.1290. This week the central bank will be in the spotlight. “Until now, the European Central Bank (ECB) considered inflation to be temporary, but it is becoming more and more elastic,” said ANZ Bank analyst. The analyst continued: “The US Federal Reserve has recently changed its mind on inflation and it is very likely that the ECB will change its stance at its meeting later this week. Inflation in the euro area is high, with consumer prices currently at a record 4.9%, well above the 2% target.” “Unlike the United States, the economic recovery in Europe is much more fragile and the region is currently experiencing a wave of omicron cases. At this stage, the ECB expects inflation to fall to 1.5% in 2023 and will soon release its inflation forecast for 2024, analysts explained. Read Full News : Daily & Weekly Analysis on XtreamForex
  25. AUD/USD holds up to 0.7170 despite new sentiment challenge AUD/USD fell to 0.7120 after hitting a one-week high in Wednesday’s early Asian session. A new challenge to the pre-risk sentiment before is bullish, but the Australian technical breakout of a major hurdle gives buyers hope in a quiet session with no significant data/events. AUD/USD is rallying to its weekly high after two days of gains. Yields have fallen and US stock futures remain moderate amid mixed concerns. America, Russia and Sino-American Stories are battling a retreat from the horrors of Omicron. A bright calendar, market expectations for Friday’s US CPI, indicates risk factors for a new impulse. The US warns Russia of sanctions and aids Ukraine with military force if the Kremlin invades Kiev. A senior US State Department official said on Tuesday that the Biden administration was “focused on how to respond to the new German government if Russia invades Ukraine.” A US State Department official said on Tuesday. Reuters. The US boycott of the 2022 Beijing Olympics is a bad sign for China, as Dragon Nation warns Washington of the consequences. In addition, concerns about companies facing a real estate crisis in China, such as Evergrande and Kaisa, are waning market optimism. In contrast, easing concerns over the South African strain of coronavirus, dubbed Omicron, and hopes for further stimulus from China are encouraging AUD/USD buyers. Against this backdrop, the 10-year U.S. Treasury yield surged to 1.47%, down 2 basis points to 1.47% in two days, and S&P 500 futures struggling to keep up with the monthly benchmark. Continually, the lack of critical data/events keeps the risk catalyst in the driver’s seat. However, the latter risk factor could trigger the consolidation of AUD/USD gains due to the state of the risk indicator for that pair. AUD/USD broke through the major barriers north of around 0.7110, which consists of the 10DMA and the upper line of the 5-week-old downtrend channel. However, the MACD signal shows a bearish bias decline and the RSI is rebounding again from its oversold zone, and the pair’s recovery is breaking out of the horizontal zone, including around 0.6990 recorded in November 2020 and December 2021. Thus, AUD/USD bullish is set to wrestle with the 0.7170 resistance that spanned the September lows and last week’s highs. Read Full News : Daily & Weekly Analysis on XtreamForex
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