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Forex نیوز ٹائم لائن

جمعرات، 27 جنوري، 2022

The latest Reuters poll of analysts and fund managers showed Thursday, investors ramped up their long bets on the Chinese yuan to the highest since Ju

The latest Reuters poll of analysts and fund managers showed Thursday, investors ramped up their long bets on the Chinese yuan to the highest since June 3, 2021, despite the Omicron covid variant-led hit and hawkish Fed outlook. Key findings “Positions in the baht were neutral, the first time they have been anything but bearish since Feb. 25.” “Investors turned short on the Indian rupee just a fortnight after going long, while bearish bets on the Philippine peso were at their highest since Oct. 7.” “Long positions in the Chinese yuan were at their highest since June. “ “Market participants turned bullish on Singapore's dollar for the first time since early November.” Related readsUSD/INR Price News: Indian rupee refreshes monthly low above 75.00 after Fed showdownS. Korean Vice FinMin: Will act to stabilize market if needed

Asia-Pacific markets portray a risk-off mood during early Thursday as shares drop and yields stay firmer following the US Federal Reserve’s (Fed) hawk

Asian equities witness losses as Fed flagged rate hike concerns.US stock futures drop over 1.0%, Treasury yields struggles to defend the first daily positive in six.Japan’s Nikkei, South Korea’s KOSPI are the biggest losers, Indonesia seems least affected.Asia-Pacific markets portray a risk-off mood during early Thursday as shares drop and yields stay firmer following the US Federal Reserve’s (Fed) hawkish halt. That said, the MSCI’s index of Asia-Pacific shares outside Japan drops 2.0% whereas Japan’s Nikkei and South Korea’s KOSPI lead the losses with over 3.0% daily fall heading into the European session. While geopolitical concerns surrounding Russia add to the Fed-led risk-aversion wave to drown the equities, Omicron woes and North Korea’s missile tests exert additional downside pressure on the stocks from Japan and South Korea. That said, Australia’s ASX 200 declines around 2.0% amid firmer calls of the RBA’s rate hike during late 2022. New Zealand’s NZX 50 joined the league with 2.20% intraday declines as Q4 2021 inflation data came stronger. Chinese stocks couldn’t buck the trend as Evergrande struggles to make coupon payments and eyes for debt restructuring, which in turn weigh on the equity markets based in Hong Kong and India. It’s worth noting that Indonesia’s IDX Composite becomes the least negatively affected stock market from the Asia-Pacific group, down 0.20% intraday at the latest. The reason for Indonesian markets to stay mostly stable as Bank Indonesia (BI) Governor Perry Warjiyo tamed immediate rate hike concerns by signaling action in late 2022. On a broader front, the US 10-year Treasury yields seesaw around 1.85%, mildly offered after positing the biggest daily gains in three weeks. However, stock futures in the US and Europe print over 1.0% intraday losses by the press time. Moving on, the US Q4 GDP and Durable Goods Orders for December will be important to watch for the markets but there are fewer hopes of bulls. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia

USD/CAD pierces 1.2700, up 0.30% around 1.2715 to refresh a three-week top during early Thursday in Europe. In doing so, the Loonie pair justifies the

USD/CAD refreshes multi-day top after crossing five-week-old resistance line.Bullish MACD signals further upside beyond 50-DMA, sellers need validation from 200-DMA.USD/CAD pierces 1.2700, up 0.30% around 1.2715 to refresh a three-week top during early Thursday in Europe. In doing so, the Loonie pair justifies the previous day’s upside break of a descending trend line from December 20, as well as the bullish MACD signals. However, the 50-DMA level of 1.2715 restricts the quote’s immediate advances. In addition to the 1.2715 resistance, 1.2780 and the 1.2800 levels may also challenge USD/CAD bulls before directing them to the two-month-old horizontal resistance near 1.2850. Alternatively, pullback moves remain elusive beyond the previous resistance line, near 1.2640 by the press time. Following that, 50% and 61.8% Fibonacci retracement level of October-December upside, respectively near 1.2630 and 1.2545, will challenge the USD/CAD bears. Even if the USD/CAD prices drop below 1.2545 support, the 200-DMA around 1.2500 will act as the last hope for bulls. USD/CAD: Daily chart Trend: Further upside expected  

GBP/USD extends the previous day’s losses amid broad US dollar gains post-Fed and worsening Brexit, as well as political, conditions in the UK. That s

GBP/USD takes offers to renew monthly low, down for the second consecutive day.EU to sue UK over deal in bonkers, delay in Brexit talks over NI.Sue Grey's report awaited as UK PM Johnson defends drinks party, animal evacuation from Afghanistan adds to the problems.Fed matched hawkish market forecasts, US Q4 GDP awaited for better understanding.GBP/USD extends the previous day’s losses amid broad US dollar gains post-Fed and worsening Brexit, as well as political, conditions in the UK. That said, the cable pair drops to 1.3430, down 0.20% intraday to refresh the daily lows heading into Thursday’s London open. Starting with the Fed, the US Federal Reserve (Fed) matched wide market expectations to keep benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” At home, UK PM Boris Johnson managed to take a sigh of relief on Wednesday, though for a short time, as the Sue Grey report was stopped from publishing. “Asked if Mr. Johnson would need to resign if he was interviewed under caution by police, he said: ‘No, of course, that wouldn't be a resigning matter, because people are innocent in this country until proved guilty,’” said the Sky News. Elsewhere, The Sun mentioned that Brussels will sue Britain for a breach of the Brexit trade deal in a bonkers row about wind farms. On the same line was the escalating pressure on UK Brexit Minister Liz Truss to overcome the deadlock concerning the Northern Ireland (NI) protocol, recently by Democratic Unionist Party (DUP) leader Sir Jeffrey Donaldson. It should be noted that the easing covid-linked activity restrictions and recently hawkish UK data offer a tough fight to the GBP/USD bears of late. That said, the market’s risk-off mood underpins the US dollar demand. The same could be witnessed in firmer US Treasury yields and over 1.0% loss of the stock futures. Moving on, the key report conveying the future of UK PM Johnson will be eyed to determine short-term GBP/USD moves. Also on the watcher’s list are the US Q4 GDP and Durable Goods Orders for December. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia Technical analysis A horizontal area from December 23 around 1.3435-30 may join oversold RSI conditions to trigger GBP/USD bounce. However, further downside past 1.3430 won’t hesitate to challenge 61.8% Fibonacci retracement of December 2021 to January 2022 upside, around 1.3385.  

WTI crude oil prices consolidate gains near eight-year high, easing to $86.00 amid early Thursday morning in Europe. In doing so, the black gold respe

WTI crude oil prices step back from multi-day high, stays pressured around intraday low of late.Fed-led fears propel US Treasury yields and US dollar but Russia-linked geopolitical tensions keep oil buyers hopeful.EIA inventories contrasted API stockpiles, China’s Evergrande, virus woes add to the risk-off mood.US Q4 Advance GDP, Durable Goods Orders eyed for fresh impulse.WTI crude oil prices consolidate gains near eight-year high, easing to $86.00 amid early Thursday morning in Europe. In doing so, the black gold respects the broad risk-off mood, as well as downbeat official weekly inventory data from the US Energy Information Administration (EIA). However, the bulls remain hopeful as geopolitical tussles between Russia and Ukraine stay on the table. Market sentiment sours after the Fed matched the broad consensus of offering a hawkish halt. the US Federal Reserve (Fed) matched wide market expectations to keep benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” On a different page, US Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi discussed how they could advance forward together regarding the Russia-Ukraine conflict, per the US state department spokesperson. It’s worth noting that the US State Department earlier warned Russia over Nordstorm 2 oil pipeline if it invades Ukraine. Elsewhere, Evergrande said it is targeting a restructuring proposal within six months whereas the virus woes escalate in Japan. Amid these plays, S&P 500 Futures drop 1.5% while the US 10-year Treasury yields remain firmer around 1.85%, after rising the most in three weeks the previous day. It’s worth noting that the weekly EIA stockpiles rose past the -0.728M forecast and 0.515M markets expectations to 2.377M at the latest. Earlier in the week, the private industry report, from the American Petroleum Institute (API), showed that the oil inventories shrank 0.872M versus the previous addition of 1.404M. Looking forward, WTI crude oil traders will pay attention to the aforementioned risk catalysts for fresh impulse, mostly to confirm further bearish bias. However, the first readings of the US Q4 GDP and Durable Goods Orders for December will be important to watch afterward. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia Technical analysis Although overbought RSI conditions do challenge WTI bulls, the oil sellers may not take risk of entry until witnessing a clear downside break of the 10-DMA level surrounding $84.80. Even so, an ascending support line from December 20, near $83.50, will challenge the bears.  

USD/JPY buyers attack 21-DMA to extend Fed-led gains during early Thursday. The yen pair crossed a downward sloping resistance line from January 04, n

USD/JPY struggles with short-term moving average to extend post-Fed gains.Clear break of three-week-old resistance line keeps buyers hopeful to challenge November 2021 top.Downbeat Momentum line probes the pair’s further upside.100-DMA, 50% Fibonacci retracement act as strong supports.USD/JPY buyers attack 21-DMA to extend Fed-led gains during early Thursday. The yen pair crossed a downward sloping resistance line from January 04, now support around 114.15, to refresh weekly high near 114.78. However, failures to cross the 21-DMA dragged the quote back to 114.65-60 by the press time. In addition to the failures of the cross the 21-DMA, the downbeat Momentum line also probes USD/JPY buyers until the quote stays below 114.80 level comprising the stated short-term moving average. If at all USD/JPY rises past 114.80, November’s peak of 115.52 and monthly top near 116.35 will be in focus. Alternatively, pullback moves may initially aim for the previous resistance line near 114.15, a break of which will direct USD/JPY prices towards 38.2% Fibonacci retracement (Fibo.) level of September 2021 to January 2022 upside, at 113.60. Though, the pair’s downside past 113.60 will be difficult as the 100-DMA and 50% Fibo., respectively around 113.40 and 112.75, appear tough nuts to crack for the pair bears. USD/JPY: Daily chart Trend: Pullback expected  

The US dollar is bid in Asia and risk aversion remains in play while investors fret over the Federal Reserve's plans to steadily tighten policy and po

EUR/USD bears stay in control as Asian shares take a plunge. The Fed's hawkishness is reverberating throughout global markets, weighing on risk-sensitive currencies.The US dollar is bid in Asia and risk aversion remains in play while investors fret over the Federal Reserve's plans to steadily tighten policy and political tensions between Russia and Ukraine. The euro, which trades as a proxy to these themes is continuing to bleed out from Wednesday's slide in EUR/USD. As expected, Fed officials left the funds rate unchanged, kept QE on track to end in March, and signalled a likely rate hike in March. However, chairman Jerome Powell's tone was more hawkish than expected which sent US yields and the dollar on a tear, weighing heavily in the euro due to the divergence between the two nations' central banks.  EUR/USD enters the 1.10/12 trading range At the time of writing, EUR/USD is losing some 0.15% to 1.222 the low and has fallen from a high of 1.1243. The move is in tandem with the slide in Asian shares that have fallen to their lowest in more than 14 months with MSCI's broad gauge of regional markets outside Japan down at its lowest level since early November 2020. Hong Kong's Hang Seng index and Australian shares fell 2% and Chinese blue-chips were 0.2% lower. In Tokyo, the Nikkei fell 3.22%, touching its lowest point since November  2020. ''We now expect four instead of three 25bp rate hikes along with the start of QT this year,'' analysts at TD Securities said with respect to the Fed. ''We also now expect QT to formally be announced in May, instead of September, so we have a tightening announcement at each of the next three meetings. For 2022, we forecast a 25bp hike in March, the start of QT in May, and then 25bp hikes in June, September, and December.''''Powell did not pull any punches on the potential need to tighten aggressively. This supports our bias for further USD resilience early this year, particularly against the funders. EURUSD is likely to enter a new lower 1.10/12 trading range.''    

GBP/JPY has been correcting the bearish daily impulse during the course of this week as the yen's dominance subsides in the wake of renewed risk appet

GBP/JPY bears are lurking and a downside extension could be on the cards. The daily chart's 38.2% Fibo has been breached but bears are committing. GBP/JPY has been correcting the bearish daily impulse during the course of this week as the yen's dominance subsides in the wake of renewed risk appetite. However, the atmosphere is fickle and prone to pivot on a dime with the likes of tensions over the prospects of a conflict in the east of Europe/central Asia. Russia is the market's wild card and for that reason, GBP/JPY's downside structure on the charts cannot be ignored.  GBP/JPY daily chart The daily chart is seeing the price attack the downside with the price correcting into a significant Fibonacci level as being the 38.2% ratio. This is a ratio that is renowned to act as resistance following such aggressive impulses.  GBP/JPY H4 chart From a 4-hour perspective, the bears will need to clear the horizontal and counter-trendline supports before the price can freely ride lower. 

China’s new ambassador to Australia Xiao Qian urges both the countries to get their diplomatic relationship “back to the right track” after more than

China’s new ambassador to Australia Xiao Qian urges both the countries to get their diplomatic relationship “back to the right track” after more than four years of sourness, per Bloomberg. Key quotes The two governments were at a “critical juncture.” The relationship faced “many difficulties and challenges as well as enormous opportunities and potentials.” Looked forward “to working with the Australian government and friends in all sectors to increase engagement and communication.” 

With the post-Fed risk aversion in full steam, AUD/USD drops half a percent to print the biggest daily fall in a week around 0.7080. In doing so, the

AUD/USD takes offers to refresh multi-day low, down for the second consecutive day.S&P 500 Futures drop 1.5%, ASX 200 drops over 10% from monthly peak while declining 2.5% intraday.US dollar reacts positively to the hawkish Fed, riskier assets drown.Geopolitical and financial fears join Omicron headlines to exert additional downside pressure ahead of US Q4 Advance GDP.With the post-Fed risk aversion in full steam, AUD/USD drops half a percent to print the biggest daily fall in a week around 0.7080. In doing so, the Aussie pair declines to the lowest levels since December 07 amid the very early Thursday morning in Europe. In addition to the Fed-led risk-off mood, fears of China’s financial market crackdown due to Evergrande join the Russia-Ukraine tussles and virus woes to add to the AUD/USD weakness. Recently, Evergrande said it is targeting a restructuring proposal within six months. Elsewhere, the US State Department warned Russia over Nordstorm 2 oil pipeline if it invades Ukraine. Additionally, record high daily covid infection numbers in Japan and heavy pressure on the Aussie medical system due to the South African COVID-19 variant portray the coronavirus woes and weigh on the AUD/USD prices. On Wednesday, the US Federal Reserve (Fed) matched wide market expectations to keep benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Amid these plays, S&P 500 Futures drop 1.5% while the US 10-year Treasury yields remain firmer around 1.85%, after rising the most in three weeks the previous day. At home, Australia’s ASX 200 drops 2.5% intraday at the latest, which in turn signals the Aussie equity benchmark’s more than 10% declines from the monthly high. The reason could be linked to the escalating hopes of the Reserve Bank of Australia’s (RBA) rate hikes. That said, AUD/USD traders will pay attention to the aforementioned risk catalysts for fresh impulse, mostly to confirm further bearish bias. However, the first readings of the US Q4 GDP and Durable Goods Orders for December will be important to watch afterward. Technical analysis Having confirmed a rising wedge bearish chart pattern during the last Friday, AUD/USD prices are vulnerable to drop towards the year 2021 bottom surrounding 0.6990.  

USD/IDR stays firmer around the weekly top of $14,403, up 0.10% intraday at $14,380 during Thursday’s Asian session. In doing so, the Indonesia rupiah

USD/IDR rises for the second consecutive day to refresh one-week high.BI Governor Warjiyo hints at rate hikes during late 2022, Fed announced hawkish halt.Risk catalysts may entertain traders ahead of US Q4 Advance GDP, Durable Goods Orders.USD/IDR stays firmer around the weekly top of $14,403, up 0.10% intraday at $14,380 during Thursday’s Asian session. In doing so, the Indonesia rupiah (IDR) pair pays little heed to the comments from Bank Indonesia (BI) Governor Pere Warjiyo. “Indonesia's central bank governor Perry Warjiyo said on Thursday early signs of inflation might be seen at the end of this year and would be the basis for Bank Indonesia (BI) to start considering raising its policy interest rates,” said Reuters. The news adds, “BI will rely more on bond yield differential flexibility to mitigate global spillover from tightening by the U.S. Federal Reserve while it starts ‘normalizing’ excess liquidity Southeast Asia's biggest economy,” per BI Governor Warjiyo. The USD/IDR pair’s rejection to cheer hawkish comments from BI Governor could be linked to the US Federal Reserve’s (Fed) readiness to lift the benchmark rates amid inflation fears. The US Federal Reserve (Fed) matched wide market expectations to keep benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Fed Chairman Jerome Powell also spoke in sync with the hawkish signals from the US central bank while saying, “There’s plenty of room to raise rates.” Though, his comments like, “The rate-hike path would depend on incoming data and noted that it is ‘impossible’ to predict,” seemed to have probed the USD/IDR bulls of late. Read: Fed Quick Analysis: Three dovish moves boost stocks, why more could come, why the dollar could rise Amid these plays, the US 10-year Treasury yields remain firmer around 1.85% while the US stock futures drop over 1.0% at the latest. Looking forward, the risk catalysts like Ukraine-Russia tussles and Sino-American tensions, not to forget virus woes, may play an important role in direct short-term USD/IDR moves, major attention will be given to the first readings of the US Q4 GDP and Durable Goods Orders for December for clear direction. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia Technical analysis Although sustained trading beyond the 20-DMA level of $14,330 keeps USD/IDR buyers hopeful, a clear upside break of $14,450 horizontal area should challenge the quote’s short-term advances.  

Shares of the troubled Chinese real-estate giant, Evergrande Group, is extending losses to the tune of over 9% in Thursday’s trading so far. The exten

Shares of the troubled Chinese real-estate giant, Evergrande Group, is extending losses to the tune of over 9% in Thursday’s trading so far. The extended sell-off comes after the property developer group said that it is targeting to have a restructuring proposal within six months. The company made this announcement, in the face of Beijing tightening control over the property developer. Market reaction The Asian stock markets are in a sea of red, thanks to the aggressive tightening expectations fuelled by Fed Chair Jerome Powell at Wednesday’s policy announcements. Dismal earnings reports in Asia combined with the Evergrande news have triggered steep losses in the regional indices. Hang Seng is down over 2% while the Shanghai Composite Index and the Nikkei 225 lose 0.71% and 2.45% respectively.

USD/INR stays firmer at the highest levels in five weeks around 75.12 during Thursday’s Asian session. The Indian rupee (INR) pair renewed multi-day h

USD/INR rises for the fourth consecutive day on hawkish Fed.Two-week-old ascending trend channel may test the bulls, sellers need 74.55 breakout to keep reins.Firmer MACD signals, a clear break of 200-SMA favor bulls.USD/INR stays firmer at the highest levels in five weeks around 75.12 during Thursday’s Asian session. The Indian rupee (INR) pair renewed multi-day high during the early hours of trading in Asia as US dollar bulls cheered the Federal Reserve’s (Fed) hawkish halt. The greenback strength helped USD/INR prices to rise further beyond the 200-SMA. Read: Fed Quick Analysis: Three dovish moves boost stocks, why more could come, why the dollar could rise As the MACD signal joins firmer prices past the key moving average, USD/INR bulls are likely to keep the reins. However, the resistance line of a fortnight-long ascending trend channel joins the 50% Fibonacci retracement (Fibo.) of December-January downside near 75.20 to portray a short-term key resistance for the USD/INR bulls. Should the quote rise past $75.20, further upside towards the 61.8% Fibo. level and late December swing high, respectively around 75.50 and 75.90, will be in focus. Alternatively, pullback moves remain less worrisome until staying beyond 200-SMA and 38.2% Fibonacci retracement level, close to 74.80. Following that, the support line of the stated bullish channel, close to 74.55, will be crucial to watch for USD/INR bears as a break of which can recall sub-74.00 area to the chart. USD/INR: Four-hour chart Trend: Further upside expected  

Silver, XAG/USD, has been taken lower by the rise in the US dollar and hawkish comments from the Federal Reserve's chairman, Jerome Powell. The bears

Silver is in the hands of the bears, looking for a deeper test of old resistance. Bulls eye the 4-hour resistance structures ahead for prospects of a bullish contiuaiton. Silver, XAG/USD, has been taken lower by the rise in the US dollar and hawkish comments from the Federal Reserve's chairman, Jerome Powell. The bears are in control and there is a focus on the prior resistances that are currently being challenged in this downside extension. XAG/USD daily chart The 78.6% Fibonacci retracement is eyed near 23.20. A commitment for the bulls there will raise prospects of a build back into the 23 and 24 areas for the days ahead. A break above 24 the figure will be essential in this respect: XAG/USD H4 chart The 4-hour chart shows that there is a structure that the bulls will need to conquer if a bullish daily extension is to evolve over the coming days. This is located between 23.60 and 24.00.

South Korean Vice Finance Minister said on Thursday that they “will act to stabilize market if needed.” He added that they “will coordinate with Bank

South Korean Vice Finance Minister said on Thursday that they “will act to stabilize market if needed.” He added that they “will coordinate with Bank of Korea (BOK) to stabilize the government bond market if necessary.”

USD/TRY picks up bids to $13.60, reversing the early Asian pullback on Thursday, as market players cheer the US Federal Reserve’s (Fed) hawkish play.

USD/TRY holds onto post-Fed advances, recently paring early Asian losses.Turkish President Erdogan again criticized higher interest rates, plans alternative debt instruments for investors.US T-bond yields, DXY cheer Fed’s hawkish halt with eyes US Q4 Advance GDP, Durable Goods Orders.USD/TRY picks up bids to $13.60, reversing the early Asian pullback on Thursday, as market players cheer the US Federal Reserve’s (Fed) hawkish play. In doing so, the Turkish lira (TRY) currency pair ignores comments from President Recep Tayyip Erdogan who “Urges Turks to borrow after unorthodox rate cuts”, per Reuters. During an interview with NTV, Turkish President Erdogan signaled further steps to relieve the burden of inflation while promising new alternative debt issuance for investors. The national leader reiterated his dislike for higher interest rates while saying, “High-interest rate environment creates a fragile situation.” Additionally, Erdogan also said, per Reuters, that loans will be used to increase production while also showing confidence in the new economic model that will ensure Turkey will be less impacted by speculative moves. On the other hand, the US Federal Reserve (Fed) matched wide market expectations to keep benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Fed Chairman Jerome Powell also spoke in sync with the hawkish signals from the US central bank while saying, “There’s plenty of room to raise rates.” Though, his comments like, “The rate-hike path would depend on incoming data and noted that it is ‘impossible’ to predict,” were taken with a pinch of salt. Amid these plays, US equities and commodities remained on the back foot, except for oil, whereas the US 10-year Treasury yields rose the most in three weeks, up eight basis points (bps) to 1.87% by the end of Wednesday’s North American session. That said, the US T-bond yields stay firmer around 1.85% while the S&P 500 Futures drop 0.65% by the press time. Looking forward, comments from Turkey and geopolitical tension surrounding Russia and China may entertain USD/TRY traders. However, major attention will be given to the first readings of the US Q4 GDP and Durable Goods Orders for December. Technical analysis Unless successfully crossing a five-week-old descending trend line, around $13.70 at the latest, USD/TRY remains lackluster. That said, the 21-DMA level of $13.51 and the mid-January lows near $13.15 could challenge the pair bears.

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.3382 vs the last close of 6.3206 and estimate at 6.3333. Yesterday wa

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.3382 vs the last close of 6.3206 and estimate at 6.3333. Yesterday was the strongest fix since April 2018. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled. Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day closing level and quotations taken from the inter-bank dealer.    

As per the prior analysis, AUD/USD Price Analysis: Bulls going against the grain to M-formation neckline target, and AUD/USD depends on the Fed, but b

Bears have eyes on 0.70 the figure on a break of current support,There could be a meanwhile correctio back to 0.7120 in the meantime. As per the prior analysis, AUD/USD Price Analysis: Bulls going against the grain to M-formation neckline target, and AUD/USD depends on the Fed, but bears are waiting in the wings for downside daily extension, the price has deteriorated.  AUD/USD prior analysis The M-formation was neckline was identified as a bullish target: The Fed was a potential catalyst for the bearish daily extension: AUD/USD live market AUD/USD has met the downside target as illustrated above and would be now expected to hold at this level of support: The 38.2% Fibonacci is compelling at this juncture neat 0.7120. On the other hand, if the bears commit, then a break of support opens risk to test 0.70 the figure in the coming sessions.   

NZD/USD stands on slippery grounds while declining to the fresh low since November 2020, down 0.35% intraday around 0.6630 amid early Thursday morning

NZD/USD takes offers to refresh 14-month low during a six-day downtrend.RSI conditions may test bears around the key support line.December 2021 low, bearish MACD signals will challenge recovery moves.NZD/USD stands on slippery grounds while declining to the fresh low since November 2020, down 0.35% intraday around 0.6630 amid early Thursday morning. Given the quote’s sustained trading below the year 2021 low, coupled with the bearish MACD signals, NZD/USD prices are likely to remain weak. However, oversold RSI conditions may challenge the pair sellers around a descending support line from late September, near 0.6610. Should the quote keep declining below 0.6610, the 0.6600 round figure and lows marked during November 2020 around 0.6590 will probe the NZD/USD bears. Meanwhile, an upside clear break of the 2021 low near 0.6700 will aim for a two-week-old resistance line near 0.6725. It’s worth noting, however, that the NZD/USD bull’s dominance past 0.6725 will highlight a two-month-old resistance line near 0.6795-6800. NZD/USD: Daily chart Trend: Further weakness expected  

US Dollar Index (DXY) seesaws around the monthly high of 96.53, recently easing to 96.50 during Thursday’s Asian session. The greenback gauge justifie

DXY struggles to extend latest gains after rising the most in three weeks.Fed matched market consensus of flagging faster rate hikes but Powell’s cautious optimism probes bulls afterward.Fears emanating from Russia, virus woes and Sino-American tensions join hawkish Fed to keep greenback buyers hopeful.US Q4 Advance GDP, Durable Goods Orders for December will offer more details for bulls.US Dollar Index (DXY) seesaws around the monthly high of 96.53, recently easing to 96.50 during Thursday’s Asian session. The greenback gauge justified hawkish Fed comments as it rose the most since January 03 the previous day. In doing so, the quote crossed a short-term key trend line resistance and refreshed the monthly peak. The US Federal Reserve (Fed) matched wide market expectations to keep benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Fed Chairman Jerome Powell also spoke in sync with the hawkish signals from the US central bank while saying, “There’s plenty of room to raise rates.” Though, his comments like, “The rate-hike path would depend on incoming data and noted that it is ‘impossible’ to predict,” seemed to have probed the greenback bulls afterward. Adding to the market fears and stopping the US Dollar Index is the warning from the US State Department, “If Russia invades Ukraine one way or another, Nord Stream 2 will not move forward,” per Reuters. On the same line are the recently escalating tensions between the US and China over trade and Taiwan issues. Furthermore, worsening virus conditions in Asia also seem to stop the US Treasury yields from rising further of late. That said, the Wall Street benchmarks and commodities remained on the back foot, except for oil, following the Fed’s verdict whereas the US 10-year Treasury yields rose the most in three weeks, up eight basis points (bps) to 1.87% by the end of Wednesday’s North American session. It should be observed that the US T-bond yields ease to 1.84% while the S&P 500 Futures print mild gains by the press time. Although the risk catalysts like Ukraine-Russia tussles and Sino-American tensions, not to forget virus woes, may play a notable role to direct short-term USD/JPY moves, major attention will be given to the first readings of the US Q4 GDP and Durable Goods Orders for December for fresh impulse. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia Technical analysis A clear upside break of a two-month-long resistance line, now support around 96.28, favor US Dollar Index bulls to aim for the 2021 peak near the 97.00 threshold.  

GBP/USD battles key supports as sellers poke 1.3460 during early Thursday. The cable pair broke the 200-SMA following the US Federal Reserve’s (Fed) h

GBP/USD remains on the back foot around short-term critical supports.Downbeat MACD lines, failure to keep the bounce off one-month-old horizontal support area favor bears.Bulls need to cross fortnight-old resistance line to retake control.GBP/USD battles key supports as sellers poke 1.3460 during early Thursday. The cable pair broke the 200-SMA following the US Federal Reserve’s (Fed) hawkish verdicts. However, clear trading beneath the same becomes necessary to convince the bears. Other than the sustained trading below the 200-SMA level of 1.3478, GBP/USD sellers also need to conquer the horizontal area from December 23, around 1.3435-30, to stay in the driver’s seat. Given the bearish MACD signals and the pair’s latest pullback, GBP/USD prices are likely to conquer the aforementioned supports, which in turn will direct the quote towards 61.8% Fibonacci retracement of December 2021 to January 2022 upside, around 1.3385. Following that, the mid-December high near 1.3375 can act as a validation point to the south-run targeting the 1.3300 threshold. Alternatively, recovery moves need to stay beyond the 200-SMA level of 1.3478 to challenge the 38.2% Fibo. level near 1.3525. Though, GBP/USD bulls remain unconvinced till the quote stays below a two-week-long descending trend line, around 1.3575 by the press time. GBP/USD: Four-hour chart   Trend: Further weakness expected  

Australia Import Price Index (QoQ) up to 5.8% in 4Q from previous 5.4%

Australia Export Price Index (QoQ) fell from previous 6.2% to 3.5% in 4Q

At $1,820, Gold, (XAU/USD) is virtually flat in Tokyo following market volatility overnight. Jerome Powell surprised markets with a hawkish pivot, com

Gold fell heavily following hawkish remarks from the Federal Reserve's chairman. XAU/USD bears throw in the towel near a critical support area. The focus is on a significant correction back towards $1,830. At $1,820, Gold, (XAU/USD) is virtually flat in Tokyo following market volatility overnight. Jerome Powell surprised markets with a hawkish pivot, commenting that the Fed could raise rates at every meeting if need be. Additionally, Powell said in the presser that the Fed could move faster and sooner than they did the last time which helped the US dollar to extend on pre presser gains as US 2-year yields jumped the biggest one day gain since 2020. The US dollar rose to a five-week high: DXY M5 chart, US session ''Today’s announcement from the Fed is expected to prepare the market for a March rate hike and confirm QE will end before then. The tone set by Powell will be closely watched for any signals as to how quickly the Fed intends to par back its balance sheet,'' analysts at ANZ Bank exlained. ''Several members of the Federal Open Market Committee (FOMC) have already indicated they support a March rate hike. Inflation has been stronger than anticipated, wage inflation is increasing and the falling unemployment rate now sets the scene for the FOMC to signal that rate hikes, in March, are on the cards.'' US Treasury yields across the curve jumped and added to gains when the Fed chairman added colour to the statement that said US interest rates would rise "soon", adding that it will end its asset purchase program in early March. The Fed, however, did not set a specific date for raising interest rates. With that being said, federal funds futures have fully priced in a quarter-point tightening for the Fed's March meeting, and another three hikes for 2022.  Powell was uber hawkish in his comments around raising rates at every meeting. "Quite a bit of room to raise rates without hurting jobs'', he added.  Fed's Powell's key comments We are of the mind to raise rates at the March meeting. The current economy means we can move sooner, perhaps faster than we did last time. The next meeting will be coming to more of the details on the Balance Sheet. Other forces this year should also bring down inflation. Quite a bit of room to raise rates without dampening employment. No decision made on policy path, path to be led by incoming data. As a consequence, the benchmark US 10-year yield rose to 1.855%. The US 30-year yields were moved to 2.172% and on the front end of the curve, US 2-year yields shot up to 1.095%. Equity markets rallied ahead of the FOMC statement but soon ran into sellers following the combination of the statement and Powell's hawkish comments. Fed's statement, key takeaways A rather mixed and fairly dovish statement ticked some of the boxes as follows: As expected, the benchmark interest rate was unchanged; The Target Range stands at 0.00% - 0.25% - Interest Rate on Excess Reserves is also unchanged at 0.15%.  There were no mentions of early rate hikes, let alone a 50bp hike (which some analysts have been expecting).  QE is not indicated to end early either and that the balance sheet shrinking would start after rate hikes commence.  The Fed has warned that soon it will be appropriate to raise rates.  The Fed has stated that both the economy/employment have strengthened and that jobs gains are solid.  "Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to US households and businesses," is an unchanged statement that indicates we are no closer to lift off than of the prior meeting.  Subsequent to this statement, Fed's funds futures are looking for four rate hikes for this year. US stocks slid when Powell reinforced expectations for a March interest rate hike. The Nasdaq Composite ended near flat at 13,542.12, Microsoft helped the index keep out of negative territory though. The S&P 500 ended 0.2% lower at 4,349.93 and the Dow Jones Industrial Average was also bleeding, ending down 0.4% to 34,168.09.  XAU prices were steady leading into Powell’s press conference following the FOMC meeting. However, his comments that rates could rise sharply saw gold prices sell off sharply late in the session.  ''Certainly, markets have priced-in a March hike for some time, which takes the sting out of the hiking signals, but evidence that quantitative tightening might be more impactful for asset prices suggests that this axis will still be relevant,'' analysts at TD Securities explained. ''With little additional information provided about the pace of quantitative tightening, the complex should continue to struggle to attract capital in the face of a hawkish Fed. In this context, while gold ETFs recorded massive inflows last week, these may have been distorted by options-related activity, with the concurrent rise in volatility suggesting only some mild safe-haven flows,'' the analysts added. ''The evidence continues to overwhelmingly point to Chinese purchases as the single largest source of inflows, which are vulnerable with Lunar New Year around the corner. CTA trend followers are set to liquidate some gold length should prices break below $1810/oz.'' Gold technical analysis The price of gold has left an M-formation on the daily chart. This is a reversion pattern and has a high completion rate of the price being drawn back to test the neckline of the M-formation. As it stands, the 38.2% Fibonacci retracement level has a direct influence on the neckline, which adds extra confluence as an attractive bullish corrective target for the days ahead near $1,830. Alternatively, a break of $1,810 and the trendline support opens significant risk to the downside. 

USD/JPY justifies hawkish Fed showdown while taking the bids near 114.75, up 0.15% intraday to refresh weekly top as Tokyo opens for Thursday. The yen

USD/JPY takes the bids to refresh weekly top, jumped the most in 14 days post-Fed.US T-bond yields printed heaviest daily jump in three weeks after Fed matched upbeat market expectations.Japan reports record daily covid infections, BOJ also accepts Omicron fears.Advance readings of US Q4 GDP, Durable Goods Orders will be watched for fresh impulse, risk catalysts are important too.USD/JPY justifies hawkish Fed showdown while taking the bids near 114.75, up 0.15% intraday to refresh weekly top as Tokyo opens for Thursday. The yen pair rose the most in three weeks after the US Federal Reserve (Fed) matched hawkish expectations by the market as it flagged interest rate hikes amid inflation woes. The US Federal Reserve (Fed) kept benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Fed Chairman Jerome Powell also spoke in sync with the hawkish signals from the US central bank while saying, “There’s plenty of room to raise rates.” Though, his comments like, “The rate-hike path would depend on incoming data and noted that it is ‘impossible’ to predict,” seemed to have probed the USD/JPY bulls afterward before the latest run-up. Read: Fed Quick Analysis: Three dovish moves boost stocks, why more could come, why the dollar could rise It’s worth noting that the US warning to scrap Nordstorm 2 oil pipeline deal with Russia if it invades Ukraine and the record high covid numbers in Japan are likely to act as immediate challenges for the risk appetite and the USD/JPY pair. “Japan's daily count of new COVID-19 cases hit yet another record of over 70,000 on Wednesday as the more transmissible Omicron variant continues its rapid spread in Tokyo and elsewhere,” said Kyodo News. Talking about the data, US housing numbers improved in December whereas Japan’s Foreign Bond Investment shrunk to negative and the Foreign Investment in Japan Stocks reversed the previous contraction with ¥10.2B level. Against this backdrop, US equities and commodities remained on the back foot, except for oil, whereas the US 10-year Treasury yields rose the most in three weeks, up eight basis points (bps) to 1.87% by the end of Wednesday’s North American session. That said, the US T-bond yields stay firmer around 1.87% while the S&P 500 Futures print mild gains by the press time. Looking forward, risk catalysts like Ukraine-Russia tussles and Sino-American tensions, not to forget virus woes, may play a notable role to direct short-term USD/JPY moves but major attention will be given to the first readings of the US Q4 GDP and Durable Goods Orders for December. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia Technical analysis USD/JPY pair’s daily closing beyond a three-week-old resistance line, now support near 114.15, directs the quote towards the mid-month top of 115.06.  

Australia Westpac Leading Index (MoM) dipped from previous 0.12% to -0.03% in December

Ireland Consumer Confidence rose from previous 74.9 to 81.9 in January

USD/CAD consolidates the previous day’s gains around 1.2660, down 0.11% intraday amid Thursday’s Asian session. The Loonie pair failed to praise the B

USD/CAD pares Fed-led gains around weekly high, down for the second day in a week.Fed, BOC matched market forecasts whereas Powell, Macklem sound cautiously optimistic.WTI crude oil prices stay firmer around the highest levels since October 2014.US Q4 GDP, Durable Goods Orders will be crucial for near-term direction.USD/CAD consolidates the previous day’s gains around 1.2660, down 0.11% intraday amid Thursday’s Asian session. The Loonie pair failed to praise the Bank of Canada’s (BOC) hawkish verdict on Wednesday as the US Federal Reserve (Fed) matched the market’s upbeat expectations. However, strong prices of Canada’s main export item WTI crude oil allow the quote to retreat from a multi-day high. That said, the US Federal Reserve (Fed) kept benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Fed Chairman Jerome Powell also spoke in sync with the hawkish signals from the US central bank while saying, “There’s plenty of room to raise rates.” Though, his comments like, “The rate-hike path would depend on incoming data and noted that it is ‘impossible’ to predict,” seemed to have underpinned the USD/CAD pair’s latest pullback. Read: Fed Quick Analysis: Three dovish moves boost stocks, why more could come, why the dollar could rise Before that, the BOC held benchmark interest rate unchanged at 0.25% while saying, per Reuters, "The BoC repeated that it sees slack being absorbed sometime in the middle quarters of 2022." Following the monetary policy verdict, BOC Chairman Tiff Macklem said, “Interest rates will have to go up to counter inflation.” Read: Breaking: Bank of Canada leaves policy settings unchanged in December as expected It’s worth noting that the fears of supply outage due to the geopolitical risks emanating from Russia rejected the dovish EIA Crude Oil Stocks Change to keep WTI oil prices near the highest levels marked since October 2014, up 0.70% around $86.70 at the latest. Amid these plays, equities and commodities remain on the back foot, except for oil, whereas the US 10-year Treasury yields rose the most in three weeks, up eight basis points (bps) to 1.87% by the end of Wednesday’s North American session. Moving on, risk catalysts like Ukraine-Russia tussles and Sino-American tensions may play a notable role to direct short-term USD/CAD moves but major attention will be given to the first readings of the US Q4 GDP and Durable Goods Orders for December. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia Technical analysis USD/CAD keeps the five-week-old resistance breakout despite the recent pullback, which in turn keeps buyers hopeful to again challenge the 50-DMA level near 1.2710. However, a downside break of the previous resistance around 1.2645 will need a clear break of the 100-DMA surrounding 1.2620 to convince USD/CAD bears.  

Japan Foreign Investment in Japan Stocks rose from previous ¥-13B to ¥10.2B in January 21

Japan Foreign Bond Investment declined to ¥-107.1B in January 21 from previous ¥928.2B

Australia Westpac Leading Index (MoM) dipped from previous 0.12% to 0% in December

EUR/USD stays pressured around a multi-day low near 1.1240 after the Fed showdown. That said, the major currency pair dropped the most in over a week

EUR/USD holds lower ground after Fed directed bears to five-week low.Bearish MACD signals, clear downside break of two-month-old ascending trend line and sustained trading below 20-DMA favor bears.Buyers remain cautious until refreshing the 2022 peak, 61.8% FE will challenge bears past 1.1185.EUR/USD stays pressured around a multi-day low near 1.1240 after the Fed showdown. That said, the major currency pair dropped the most in over a week while breaking a two-week-old ascending trend line post-Fed, staying below the support-turned-resistance line of 1.1295 by the press time of the initial Asian session on Thursday. In addition to the downside break of the previously important support line, bearish MACD signals and downbeat RSI line, not oversold, also favor EUR/USD bears to aim for the year 2021 bottom surrounding 1.1185. However, a horizontal area comprising multiple lows marked since November, near 1.1230, tests the immediate downside of the pair. It should be noted that the quote’s weakness past 1.1185 will be challenged by the RSI line, which is declining towards the oversold territory. Also likely to test the EUR/USD sellers is the 61.8% Fibonacci Expansion (FE) of the pair’s moves from late September 2021 to the January 2022 swing high, near 1.1120. Alternatively, a corrective pullback may initially aim for the previous support line, near 1.1295, before directing EUR/USD bulls towards the 20-DMA level of 1.1340. If the pair buyers manage to cross the 1.1340 mark, a horizontal resistance from November 16, near 1.1385-90, will probe the quote’s upside towards the monthly high, also the yearly peak, of 1.1482. EUR/USD: Daily chart Trend: Further weakness expected  

Economics at the Bank of America (BofA) reiterated their bullish calls on the US dollar after witnessing the hawkish play of the US Federal Reserve (F

Economics at the Bank of America (BofA) reiterated their bullish calls on the US dollar after witnessing the hawkish play of the US Federal Reserve (Fed). BofA initially said, "Overall, the January FOMC meeting reinforces our view that the Fed will likely need to hike more than the market is currently pricing. This should push rates higher across the US rates curve & in a bear flattening bias." The analytical piece adds that the USD strongly and broadly appreciated on the back of today's hawkish FOMC decision, with gains skewed somewhat toward lower beta FX - EUR, JPY and CHF. “US dollar gains accelerated from an initially modest level post-statement release throughout Chair Powell's press conference,” per the US bank. While concluding the findings, the investment bank said, “We remain bullish USD vs. low beta FX and would look to buy dips on a trend basis into rate liftoff as the market further prices in a more aggressive Fed and hence additional monetary policy divergence.” Read: Fed Quick Analysis: Three dovish moves boost stocks, why more could come, why the dollar could rise

d to wait till this November before it responds to higher inflation with its first interest rate rise in over a decade,” per the latest Reuters poll.

d to wait till this November before it responds to higher inflation with its first interest rate rise in over a decade,” per the latest Reuters poll. Key quotes The poll showed inflation would meet the RBA's target range of 2-3% from next quarter and through 2023 averaging at 2.5% this year and 2.3% in 2023, while the economy is forecast to grow 4.0% this year and 2.9% in 2023. Economists canvassed in a Reuters Jan 18-25 poll also brought forward their rate hike expectations for third month in a row. Most of the 34 respondents, however, expect the RBA to take more time, with a median forecast for a 15 basis-point move in November. Two economists expect a rate rise already in the second quarter, seven in the third quarter, 11 in the fourth quarter and 13 still see the central bank first pulling the trigger next year. Economists were less divided on when the central bank will pull the plug on its bond-buying program, with 17 out 22 of those who answered the question expecting an announcement at the next policy meeting on Feb. 1. Five others saw the central bank ending the program launched in response to the coronavirus pandemic in May. The last time the central bank raised rates was more than a decade ago, in Nov. 2010, when it lifted rates to 4.75%. An expected hike this November would be followed by a 25 basis point increase in the first quarter of next year and another 25 basis points in the June quarter, taking the cash rate back to 0.75% where it was before the pandemic. FX implications AUD/USD defended 0.7100 mark, around 0.7120 by the press time, following the hawkish survey results. However, Fed’s rate hike signals and cautiously optimistic Powell tames the Aussie bulls. Read: AUD/USD defends 0.7100 after Fed showdown, focus shifts to US GDP

AUD/USD braces for the second consecutive weekly fall, despite bouncing off 0.7100, as Fed played by rules to match upbeat market expectations. That s

AUD/USD licks Fed led wounds after declining the most in a week.Fed matched upbeat market expectations by signaling faster rate hikes, Powell sounds cautiously optimistic.Reuters’ poll suggests RBA will terminate bond-buying in February, lift the rates in November.Light calendar in Australia after a day off, US Durable Goods Orders, Advance Q4 GDP is crucial for near-term direction.AUD/USD braces for the second consecutive weekly fall, despite bouncing off 0.7100, as Fed played by rules to match upbeat market expectations. That said, the risk barometer pair dropped the most in a week by the end of Wednesday as Fed backed faster rate hikes and monetary policy normalization. However, the quote took a U-turn from 0.7095 to recall 0.7120 level on early Thursday morning in Asia. The US Federal Reserve (Fed) kept benchmark interest rates and tapering targets intact during Wednesday’s Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Fed Chairman Jerome Powell also spoke in sync with the hawkish signals from the US central bank while saying, “There’s plenty of room to raise rates.” Though, his comments like, “The rate-hike path would depend on incoming data and noted that it is ‘impossible’ to predict,” seemed to have underpinned the AUD/USD rebound from 0.7095. While following the Fed’s hawkish signals Fed and mostly upbeat comments from Powell, equities and commodities dropped whereas the US 10-year Treasury yields rose the most in three weeks, up eight basis points (bps) to 1.87% by the end of Wednesday’s North American session. The same mood propelled the US dollar. It’s worth noting, however, that upbeat polls for the Reserve Bank of Australia (RBA), suggesting an end to the Quantitative Easing (QE) in February and wait for November for the rate lift-off, seems to have underpinned the AUD/USD rebound. The reason for the hawkish poll could be linked to the recent strong employment and inflation data from Australia. “Economists canvassed in a Reuters Jan 18-25 poll also brought forward their rate hike expectations for the third month in a row. Most of the 34 respondents, however, expect the RBA to take more time, with a median forecast for a 15 basis-point move in November. Economists were less divided on when the central bank will pull the plug on its bond-buying program, with 17 out 22 of those who answered the question expecting an announcement at the next policy meeting on Feb. 1,” per Reuters. That said, AUD/USD traders may now wait for more clues to extend the latest rebound from 0.7095. In doing so, the risk catalysts like Ukraine-Russia tussles and Sino-American tensions may play a notable role. However, more important will be today’s first readings of the US Q4 GDP and Durable Goods Orders for December. Read: US GDP Preview: Inflation component could steal the show, boost dollar, already buoyed by Russia Technical analysis Multiple lows marked since August 2021 restricts short-term AUD/USD declines around 0.7100. However, a sustained trading below the 50-DMA level near 0.7180 joins bearish MACD signals to keep sellers hopeful. That said, the pair buyers remain worried until witnessing a clear break of the 100-DMA, around 0.7270 at the latest.  

The NZD/JPY edges up in the session, after Wall Street closed, gains some 0.22% after the Federal Reserve unveiled its monetary policy statement. At t

On Wednesday, the NZD/JPY clings to its gains, up some 0.10%, amid a risk-off environment.A risk-off market mood triggered an equities sell-off in the US stock market, influencing risk-sensitive FX currencies, like the NZD.The NZD/JPY is downward biased though a break above 77.00 would expose crucial DMAs.The NZD/JPY edges up in the session, after Wall Street closed, gains some 0.22% after the Federal Reserve unveiled its monetary policy statement. At the time of writing, the NZD/JPY is trading at 76.20. In the meantime, the risk sentiment got a toll after Fed’s Chairman Jerome Powell press conference, as shown by the NZD/JPY hourly chart, which depicts the pair slumped 60-pips. However, in the aftermath of the press conference, the cross-currency pair trimmed some of its losses, trading at 76.20NZD/JPY Price Forecast: Technical outlookThe NZD/JPY is downward biased per the daily chart. Nevertheless, JPY bulls have been unable to print a daily close below December 3, 2021, daily low at 75.96. The 50-day moving average (DMA) resides at 77.64, some 40-pips below the 200-DMA at 78.09, which is trapped between the former and the 100-DMA at 78.48. That said, the NZD/JPY first support would be 76.00. A breach of the latter would expose the January 24 swing low at 75,74. If that level is broken, the next stop for the cross-currency would be July 20, 2021, pivot low at 75.27, and then August 19, 2021, low at 74.56. Contrarily, the NZD/JPY first resistance would be January 26 daily high at 76.66. A daily close above that level would send the pair rallying towards January 21 daily high at 77.05, and then the 50-DMA at 77.64.  

Consumer Price Index for New Zealand arrived and beat expectations. The consensus expected inflation to rise 1.3% QoQ and 5.7% YoY. However, the data

NZD/USD holds steady despite CPI beat.The markets have piled into the US dollar following hawkish Fed Powell. Consumer Price Index for New Zealand arrived and beat expectations. The consensus expected inflation to rise 1.3% QoQ and 5.7% YoY. However, the data beat 1.4% and 5.9% respectively. NZD/USD stabilised ahead of the Federal Reserve meeting, but the Fed's chair, Jerome Powell delivered a hawkish commentary at the press conference that shook things up. In early Asia, the bird is ending the day down near 0.5% to 0.6650 after falling from a high of 0.6701 to a low of 0.6638. Fed's Powell's key comments We are of a mind to raise rates at march meeting’. The current economy means we can move sooner, perhaps faster than we did last time. Next meeting will be coming to more of the details on the Balance Sheet. Other forces this year should also bring down inflation. Quite a bit of room’ to raise rates without dampening employment. No decision made on policy path, path to be led by incoming data. ''Near term, we expect the kiwi’s downtrend to resume and rallies are selling opportunities,'' analysts at ANZ Bank explained.  NZD/USD daily chart The M-formation is a reversion pattern and bulls can targe the neckline near 0.6750. However, a more shallow target comes near the 38.2% Fibonacci around 0.67 the figure. 

Chile BCCH Interest Rate above forecasts (5.25%) in February: Actual (5.5%)

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