Bitcoin’s bounce have once again failed to generate momentum disappointing many over the, thus far lack of rally following the recent bitcoin halving. In theory bitcoin halving should have an inflationary effect on prices as it makes generating bitcoins that much harder reducing production but it is also true that historically the effect is not…
We do not normally cover the Australian Dollar for technical analysis but the combination of an RBA Monetary Policy Statement and Daily Level Resistances is very tempting. Note that market is disappointed that despite signalling a concern over housing prices the RBA views current interest rates at 4.35% as appropriate with Governor Michele Bullock indicating…
A lack of fresh catalyst has meant Euro spent much of the day in consolidation before eventually easing off in late New York trade. For now the lack of big economic data and bank holiday’s in the major markets will likely see us with this cautious tone and technical imperatives driving the market. Resistance Support…
The Reserve Bank of Australia (RBA) maintained its official cash rate at 4.35%, reinforcing the reality of “higher-for-longer” interest rates. Despite anticipation of potential rate cuts due to easing inflation, the RBA’s decision reflects ongoing concerns about persistent inflationary pressures, particularly in the services sector. Inflation and Interest Rates Housing Market Concerns Economic Indicators and…
Prospects for the British Pound remains heavily weighed by the thought of a dovish Bank of England with an upcoming policy meeting on Thursday 11am GMT. Until then we have very little market moving economic data and as such expect limited ranges though keeping a bearish bias. Resistance Support The combination of long wicks, a…
Nothing is ever easy. Brent Crude saw a whipsaw in US Trading Monday though ranges were limited effectively telling us this remains an indecisive market. Geopolitics continues to take a back seat for Oil even as Hamas has accepted the Israeli ceasefire proposal. With abundant supplies in the US and global demand still weak there…
Dollar Yen and the Crosses have pulled back sharply over the past week or so easing back to the prior month long consolidation zone. Across the three pairs we have seen prices already coming off the 50D Moving Average though absent any compelling reason for a rally we do not expect to see a test…
Euro saw limited ranges given multiple holidays Monday, and the lack of fresh incentive to take action. It is telling though that we have another long wick in the daily charts, this time with a substantially limited body. With very few data of note that directly impacts EURUSD we fall back to charts with the…
Ahead of the Reserve Bank of Australia’s (RBA) policy meeting today (0430GMT), the market is closely watching the central bank’s next move amidst inflation concerns and fluctuating expectations on interest rate cuts. The Australian dollar (AUD) hit a two-month high recently due to broad-based dollar weakness, influenced by a less hawkish Federal Open Market Committee…
Gold has remained in consolidation mode since coming off its historic highs. Although whipsawing with the rest of the major currencies on US jobs data it will be prudent to remember that the yellow metal at this point is about geopolitics. A flare up of violence in the Israel-Hamas conflict could happen any time fueling…