Forex News

Oh Canada! The Canadian Dollar Holding Strong Against the USD What’s Happening with the CAD? The Canadian Dollar (CAD) is showing some resilience against the US Dollar (USD) at around the 1.37 point. With improved risk appetite and steady stock market trends, the CAD has been able to maintain its minor improvement. However, recent setbacks…

The Impact of RBNZ Rate Cut on NZD/JPY Cross Market Reaction to RBNZ Rate Cut The NZD/JPY cross retreated around 150 pips from the 89.50 area, or a nearly two-week high touched earlier this Wednesday in reaction to the Reserve Bank of New Zealand’s (RBNZ) surprise 25 basis points (bps) rate cut. Spot prices, however,…

Turnaround for NZD/USD Pair What a Rollercoaster Ride! Well, well, well. Just when you thought the NZD/USD pair was on a smooth sailing path, the Reserve Bank of New Zealand (RBNZ) decided to throw a curveball with a surprise rate cut. The markets were taken aback, and the pair witnessed a dramatic intraday turnaround from…

GBP/JPY Extends Winning Streak Despite Lower-Than-Expected CPI Report Market Overview GBP/JPY continues its winning streak for the third consecutive session, trading around 189.00 during the early European session on Wednesday. This upward momentum comes as a surprise, given the lower-than-expected Consumer Price Index (CPI) report released by the United Kingdom (UK) Office for National Statistics…

Oh, the Drama! EUR/USD Takes a Tumble A Rollercoaster Ride for the EUR/USD It was a wild ride for the EUR/USD as sentiment data sent investors into a tailspin. With a sharp drop in optimism, the currency pair edged lower, leaving traders on edge. But fear not, for all eyes are now on the upcoming…

Welcome to the Quirky Finance Corner! Are You Ready to Dive into the World of EUR/JPY Cross Trading? So, picture this: you wake up one morning, roll over in bed, and instead of checking social media or your horoscope, you decide to check on the EUR/JPY cross. Who would have thought that could be a…

Gold Market Overview Gold now screens as a well-populated trade. The Street is unanimously bullish, but macro fund positioning may now be tapped out without an imminent recession. CTA positioning remains near its effective ‘max long’ position size, the top Shanghai traders have been selling their positions from near-record highs, and Asian physical markets remain…

Silver May Be Reaching a Bottom: A Technical Analysis Introduction Silver has been showing signs of slowing down over the last three months. However, recent analysis on the 4-hour time frame reveals a three-wave pattern (A-B-C), suggesting a corrective decline within a higher degree wave IV. The price is currently approaching a critical support area…