EURUSD Impulse Structure Hints At Rising Prices

The current formation of the EURUSD currency pair suggests the development of a global bullish impulse. This consists of intermediate sub-waves (1)-(2)-(3)-(4)-(5). The bearish correction wave (4) seems to have just been completed, as it has taken the form of a double zigzag W-X-Y. Then […]

What to Expect from Powell’s Congressional Testimony

Fed Chairman Jerome Powell is going to appear in the US Congress. However, it’s not going to be one of the usual bi-annual hearings of the Fed Chairman on Capitol Hill. Rather, he will testify in front of the House Select Subcommittee on the coronavirus […]

Intraday Market Analysis – USD Consolidates Gains

USDJPY tests first support The Japanese yen remains under pressure as the BoJ extends the easing program. The US dollar has met strong resistance at last April’s high at 110.80. The price action then found bids near 110.20, a former resistance turned into a support. […]

USOIL: Another key event to be determined tomorrow

The latest Federal Reserve FOMC resolution has brought greater volatility to various markets. According to the dot plot, most committee members (13) expect the central bank to raise interest rates twice in 2023. In addition, the statement also stated that the Fed will raise the […]

Market Update – June 17 – BIG Surprise from the FOMC Dots

Market News Today – FED no rate change and $120bn bond buying to continue. BUT BIG hawkish surprise with plans for 2 x 0.25% rate rises in 2023 (13/18 votes), it had been 2024 and even 7/18 see rate rises in 2022. Statement increased 2021 […]

Even though NZ GDP leaps higher, bears still dominate the Kiwi

NZDUSD, Daily New Zealand’s GDP increased 1.6% in the first quarter of 2021 following a revised 1.0% contraction in the previous period and compared to market expectations of a 0.5% increase. The services industry, which represents about 2/3 of New Zealand’s economy, grew 1.1% after […]

Midweek Market Podcast – June 17 – Post FED

A hawkish FOMC dot-plot announcement caught the markets unprepared last night. The USD and Yields rallied as Stocks & Commodities sank on expectations of earlier than expected rate rises. HotForex · Midweek Market Podcast – June 17 The Market Week – June – Week 3 […]

Risk On and Yields differentials drift CHFJPY

Week’s releases so far turn the market into a pretty much risk-on environment, with FOMC the major catalyst and SNB and Eurozone inflation unable to hinder the current momentum. USDJPY hit an 11-week peak at 110.82, driven by the spike in US yields relative to […]

US Open – USD Holds on to gains

US initial jobless claims jumped 37,000 to 412,000 in the week ended June 12 after dropping -13,000 to 375,000 in the June 5 week. It is the first weekly increase since April and is contrary to expectations for another decline. US Philly Fed manufacturing index […]

USDZAR rebound requires Validation

The South African Rand has shown resilience since early 2021 by gathering strength at 8.5% against the US Dollar and registering an annual low of 13.3823. And from this low, the USDZAR pair has rebounded in the second week of June, and coupled with the […]