Forex and Currency News :: Page 160

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COT Currency Speculators boost Mexican Peso bullish bets to 104-week high

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday March 8th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the euro will decline versus the dollar.

Highlighting the COT currency data is the rising bullish sentiment in the Mexican Peso currency futures contracts. Peso speculators have boosted their bullish bets for six consecutive weeks and in nine out of the past ten weeks. Over the past six-week time-frame, Peso bets have gained by a total of +53.807 contracts, going from -790 net positions on January 25th to +53,017 net positions this week. This recent improvement in Peso positioning pushed the current net speculator standing (+53,017 contracts) to the most bullish level in the past one hundred and four weeks, dating back to March 10th of 2020.

Joining the Mexican peso (10,639 contracts) with positive changes this week were the Japanese yen (12,876 contracts), Brazil real (48 contracts), Swiss franc (5,538 contracts), New Zealand dollar (1,793 contracts), Australian dollar (141 contracts) and Bitcoin (185 contracts).

The currencies with declining bets were the US Dollar Index (-730 contracts), Euro (-6,095 contracts), British pound sterling (-12,189 contracts), Canadian dollar (-6,494 contracts) and the Russian ruble (-1,868 contracts).

Data Snapshot of Forex Market Traders | Columns Legend

Mar-08-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	62,447	95	34,044	85	-37,890	12	3,846	59
EUR	738,990	98	58,844	53	-83,873	52	25,029	16
GBP	246,312	68	-12,526	65	25,457	45	-12,931	29
JPY	208,683	61	-55,856	33	76,657	74	-20,801	5
CHF	51,820	30	-9,710	53	21,942	56	-12,232	27
CAD	149,425	30	7,646	55	-15,494	46	7,848	45
AUD	197,094	80	-78,195	12	78,183	77	12	52
NZD	53,250	50	-12,379	50	13,592	51	-1,213	38
MXN	166,433	34	53,017	50	-55,194	50	2,177	52
RUB	22,420	7	7,806	32	-7,325	69	-481	22
BRL	68,623	65	50,496	100	-52,564	0	2,068	90
Bitcoin	9,591	48	265	100	-422	0	157	17

US Dollar Index Futures:

The US Dollar Index large speculator standing this week totaled a net position of 34,044 contracts in the data reported through Tuesday. This was a weekly decrease of -730 contracts from the previous week which had a total of 34,774 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 84.5 percent. The commercials are Bearish-Extreme with a score of 11.6 percent and the small traders (not shown in chart) are Bullish with a score of 58.6 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	73.7	12.8	9.0
– Percent of Open Interest Shorts:	19.2	73.4	2.9
– Net Position:	34,044	-37,890	3,846
– Gross Longs:	46,031	7,962	5,642
– Gross Shorts:	11,987	45,852	1,796
– Long to Short Ratio:	3.8 to 1	0.2 to 1	3.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	84.5	11.6	58.6
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.9	7.7	-19.7

Euro Currency Futures:

The Euro Currency large speculator standing this week totaled a net position of 58,844 contracts in the data reported through Tuesday. This was a weekly decline of -6,095 contracts from the previous week which had a total of 64,939 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 53.1 percent. The commercials are Bullish with a score of 52.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.9 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.8	52.3	11.6
– Percent of Open Interest Shorts:	24.9	63.7	8.2
– Net Position:	58,844	-83,873	25,029
– Gross Longs:	242,683	386,654	85,727
– Gross Shorts:	183,839	470,527	60,698
– Long to Short Ratio:	1.3 to 1	0.8 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	53.1	52.0	15.9
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	8.4	-7.8	0.5

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week totaled a net position of -12,526 contracts in the data reported through Tuesday. This was a weekly decrease of -12,189 contracts from the previous week which had a total of -337 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 65.0 percent. The commercials are Bearish with a score of 44.7 percent and the small traders (not shown in chart) are Bearish with a score of 28.9 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.7	66.8	9.4
– Percent of Open Interest Shorts:	25.8	56.4	14.6
– Net Position:	-12,526	25,457	-12,931
– Gross Longs:	50,982	164,423	23,076
– Gross Shorts:	63,508	138,966	36,007
– Long to Short Ratio:	0.8 to 1	1.2 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	65.0	44.7	28.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.4	5.1	-8.0

Japanese Yen Futures:

The Japanese Yen large speculator standing this week totaled a net position of -55,856 contracts in the data reported through Tuesday. This was a weekly boost of 12,876 contracts from the previous week which had a total of -68,732 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 32.7 percent. The commercials are Bullish with a score of 74.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 4.8 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.5	81.6	8.1
– Percent of Open Interest Shorts:	34.2	44.9	18.1
– Net Position:	-55,856	76,657	-20,801
– Gross Longs:	15,548	170,330	16,884
– Gross Shorts:	71,404	93,673	37,685
– Long to Short Ratio:	0.2 to 1	1.8 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	32.7	74.3	4.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.9	-3.1	-13.5

Swiss Franc Futures:

The Swiss Franc large speculator standing this week totaled a net position of -9,710 contracts in the data reported through Tuesday. This was a weekly boost of 5,538 contracts from the previous week which had a total of -15,248 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 53.0 percent. The commercials are Bullish with a score of 55.5 percent and the small traders (not shown in chart) are Bearish with a score of 27.4 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.4	70.7	17.3
– Percent of Open Interest Shorts:	28.1	28.4	40.9
– Net Position:	-9,710	21,942	-12,232
– Gross Longs:	4,856	36,635	8,947
– Gross Shorts:	14,566	14,693	21,179
– Long to Short Ratio:	0.3 to 1	2.5 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	53.0	55.5	27.4
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.6	9.6	-22.1

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week totaled a net position of 7,646 contracts in the data reported through Tuesday. This was a weekly fall of -6,494 contracts from the previous week which had a total of 14,140 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.1 percent. The commercials are Bearish with a score of 46.4 percent and the small traders (not shown in chart) are Bearish with a score of 45.4 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.5	41.7	22.7
– Percent of Open Interest Shorts:	27.3	52.1	17.5
– Net Position:	7,646	-15,494	7,848
– Gross Longs:	48,492	62,360	33,951
– Gross Shorts:	40,846	77,854	26,103
– Long to Short Ratio:	1.2 to 1	0.8 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	55.1	46.4	45.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.5	2.8	1.2

Australian Dollar Futures:

The Australian Dollar large speculator standing this week totaled a net position of -78,195 contracts in the data reported through Tuesday. This was a weekly advance of 141 contracts from the previous week which had a total of -78,336 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 12.3 percent. The commercials are Bullish with a score of 77.2 percent and the small traders (not shown in chart) are Bullish with a score of 52.5 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.9	74.1	13.0
– Percent of Open Interest Shorts:	49.6	34.5	13.0
– Net Position:	-78,195	78,183	12
– Gross Longs:	19,521	146,144	25,564
– Gross Shorts:	97,716	67,961	25,552
– Long to Short Ratio:	0.2 to 1	2.2 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	12.3	77.2	52.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.7	-14.6	35.3

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week totaled a net position of -12,379 contracts in the data reported through Tuesday. This was a weekly rise of 1,793 contracts from the previous week which had a total of -14,172 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 50.5 percent. The commercials are Bullish with a score of 51.3 percent and the small traders (not shown in chart) are Bearish with a score of 37.9 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.6	62.0	5.2
– Percent of Open Interest Shorts:	52.9	36.5	7.5
– Net Position:	-12,379	13,592	-1,213
– Gross Longs:	15,775	33,005	2,792
– Gross Shorts:	28,154	19,413	4,005
– Long to Short Ratio:	0.6 to 1	1.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	50.5	51.3	37.9
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.7	0.5	14.8

Mexican Peso Futures:

The Mexican Peso large speculator standing this week totaled a net position of 53,017 contracts in the data reported through Tuesday. This was a weekly lift of 10,639 contracts from the previous week which had a total of 42,378 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 50.0 percent. The commercials are Bearish with a score of 49.8 percent and the small traders (not shown in chart) are Bullish with a score of 52.3 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	45.7	36.4	3.4
– Percent of Open Interest Shorts:	13.8	69.5	2.1
– Net Position:	53,017	-55,194	2,177
– Gross Longs:	76,020	60,537	5,674
– Gross Shorts:	23,003	115,731	3,497
– Long to Short Ratio:	3.3 to 1	0.5 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	50.0	49.8	52.3
– Strength Index Reading (3 Year Range):	Bearish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	22.9	-22.4	-0.4

Brazilian Real Futures:

The Brazilian Real large speculator standing this week totaled a net position of 50,496 contracts in the data reported through Tuesday. This was a weekly lift of 48 contracts from the previous week which had a total of 50,448 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 0.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 90.3 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	79.5	15.3	5.1
– Percent of Open Interest Shorts:	5.9	91.9	2.1
– Net Position:	50,496	-52,564	2,068
– Gross Longs:	54,543	10,468	3,488
– Gross Shorts:	4,047	63,032	1,420
– Long to Short Ratio:	13.5 to 1	0.2 to 1	2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	100.0	0.0	90.3
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	62.0	-62.3	8.4

Russian Ruble Futures:

The Russian Ruble large speculator standing this week totaled a net position of 7,806 contracts in the data reported through Tuesday. This was a weekly fall of -1,868 contracts from the previous week which had a total of 9,674 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.9 percent. The commercials are Bullish with a score of 68.7 percent and the small traders (not shown in chart) are Bearish with a score of 21.5 percent.

RUSSIAN RUBLE Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.5	60.6	2.9
– Percent of Open Interest Shorts:	1.6	93.3	5.1
– Net Position:	7,806	-7,325	-481
– Gross Longs:	8,173	13,590	657
– Gross Shorts:	367	20,915	1,138
– Long to Short Ratio:	22.3 to 1	0.6 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	31.9	68.7	21.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	9.1	-7.0	-22.4

Bitcoin Futures:

The Bitcoin large speculator standing this week totaled a net position of 265 contracts in the data reported through Tuesday. This was a weekly gain of 185 contracts from the previous week which had a total of 80 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 7.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.5 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	80.9	2.8	9.9
– Percent of Open Interest Shorts:	78.1	7.2	8.3
– Net Position:	265	-422	157
– Gross Longs:	7,760	272	950
– Gross Shorts:	7,495	694	793
– Long to Short Ratio:	1.0 to 1	0.4 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	100.0	7.6	16.5
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.4	4.5	-8.1

Article By InvestMacro – Receive our weekly COT Reports by Email

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.

11 Mar

Intraday Market Analysis – Commodity Currencies Find Support

By Orbex

NZDUSD consolidates gains

The New Zealand dollar inched higher supported by roaring commodity prices. A break above the daily resistance at 0.6890 has put the kiwi back on track in the medium term.

A bullish MA cross on the daily chart suggests an acceleration to the upside. As sentiment improves, the bulls may see the current consolidation as an opportunity to accumulate.

A close above 0.6920 would extend the rally to 0.7050. 0.6800 is the first support and 0.6730 over the 30-day moving average a key demand zone.

XAGUSD seeks support

Silver consolidates amid ongoing geopolitical instability. A bearish RSI divergence suggests a deceleration in the rally.

A tentative break below 25.40 has prompted some buyers to take profit. While sentiment remains optimistic, a correction might be necessary for the bulls to take a breather.

The psychological level of 25.00 is a major demand zone. Its breach could send the precious metal to 24.30 which sits on the 30-day moving average. A rally above 26.90 could propel the price to last May’s highs around 28.50.

US 30 struggles for buyers

The Dow Jones 30 turned south after talks between Russia and Ukraine stalled again. A rebound above 34000 has provided some relief.

Nonetheless, enthusiasm could be short-lived after the index gave up all recent gains. The prospect of a bear market looms if this turns out to be a dead cat bounce. A fall below 32300 could trigger another round of liquidation and push the Dow to a 12-month low at 30800.

On the upside, 33500 is the first resistance. The bulls will need to lift offers around 34100 before they could attract more followers.

Article by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

Financial News Forex and Currency News

11 Mar

The cryptocurrency market digest. Overview for 11.03.2022

Article By RoboForex.com

The crypto market is once again experiencing a local decline and there is a fundamental reason for that. Yesterday, the US reported on the February inflation and the indicator skyrocketed to its 40-year high, 7.9% y/y. Investors were expecting the actual reading to be quite high but the reality turned out to be much more disappointing.

Rising inflation means that the US Fed is getting closer and closer to tightening its monetary policy and raising the benchmark interest rate this year. It’s no surprise but now market players know it for sure and have to respond.

Good news is that during the March meeting the American regulator might decide to raise the rate by 25 basis points and will surely be very careful in its estimations of future prospects. The Fed won’t talk about cutting its own balance – it might result in great sales in capital markets and the regulator doesn’t want any extra emotions right now. if the stock market remains stable (NASDAQ and S&P 500 in the first instance), the crypto market may reach stability. We remind you that there is a stable correlation between NASDAQ and the BTC.

The Bitcoin rate lost almost 7% yesterday and remans under bearish pressure; it is mostly trading at $39,065. It means that the BTC continues moving within a sideways channel of $34,000-45,000. The closest support is at $33,500, the next one – $27,600.

ETH: the flat continues

The ETH price also remains in the flat of $2,268-2,732. In the short term, there are no reasons why the price may break this channel but investors are obviously ready to explore any opportunity for that.

USDT: global financial systems have weaknesses

The rate of USDT, the third biggest cryptocurrency in terms of capitalisation, is also falling on Friday. The Tether head Paolo Ardoino said yesterday that activities of global central banks to create their own digital currencies are far behind the innovativeness of his own company when it formed USDT. He believes that the modern financial system is digitalised enough but still has a lot of serious weaknesses.

NFT: new cards from Warner Brothers

And here is some news from the parallel universe: Warner Bros intends to issue 6 million cards with NFTs displaying ВС superheroes. A set of cards will cost $5-120, and NFTs will be issued oт the basis of a sidechain of Ethereum Immutable X. What’s the point of such tokens? An NFT is an ownership certificate, it is not divided into parts and is usually limited in number. The fewer NFTs, the more valuable and unique they are.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Financial News Forex and Currency News

11 Mar

Ichimoku Cloud Analysis 11.03.2022 (EURUSD, XAGUSD, GBPUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1001; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1045 and then resume moving downwards to reach 1.0725. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1155. In this case, the pair may continue growing towards 1.1215.

XAGUSD, “Silver vs US Dollar”

XAGUSD is trading at 25.70; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 25.45 and then resume moving upwards to reach 27.70. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 24.40. In this case, the pair may continue falling towards 23.45.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3092; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3160 and then resume moving downwards to reach 1.2820. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3335. In this case, the pair may continue growing towards 1.3425.

Article By RoboForex.com

Financial News Forex and Currency News

11 Mar

The Analytical Overview of the Main Currency Pairs on 2022.03.11

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.1068
Prev Close: 1.0988
% chg. over the last day: -0.72%

Yesterday, the European Central Bank unexpectedly announced that it would begin cutting its bond-buying program in the third quarter of this year and open the door to raising the interest rate by the end of 2022 to fight rising inflation. The ECB also slightly lowered its growth forecasts for this year and next year and raised inflation expectations.

Trading recommendations

Support levels: 1.0993, 1.0930, 1.0823
Resistance levels: 1.1065, 1.1112, 1.1291

From the technical point of view, the EUR/USD currency pair trend on the hourly time frame is bearish, but there are signs that the price may change priority amid more hawkish statements from the ECB. The MACD indicator has become inactive. Under such market conditions, it is better to look for sell trades on the intraday time frames from the resistance of 1.1065 or 1.1112. Buy trades should be considered from the support level of 1.0993 or 1.0930, but only with short targets.

Alternative scenario: if the price breaks out through the 1.1112 resistance level and fixes above, the mid-term uptrend will likely resume.

News feed for 2022.03.11:

– German Consumer Price Index (m/m) at 09:00 (GMT+2);
– US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3178
Prev Close: 1.3083
% chg. over the last day: -0.72%

The British pound is declining as the UK and the US government bond yield spread shows a downward trend. Optimism regarding an early end to the war in Ukraine is decreasing, putting pressure on rising energy prices and negatively affecting the British currency.

Trading recommendations

Support levels: 1.3091
Resistance levels: 1.3195, 1.3274, 1.3315, 1.3418

On the hourly time frame, the GBP/USD currency pair trend is bearish. Volatility remains high, and sellers’ pressure is increasing again. The MACD indicator has become negative. Under such market conditions, buy trades should be considered from the support level of 1.3091, but it is better with confirmation because it has been tested by the price before. The best way to sell is to consider the resistance level of 1.3195, but only after the sellers’ initiative.

Alternative scenario: if the price breaks out through the 1.3274 resistance level and fixes above, the mid-term uptrend will likely resume.

News feed for 2022.03.11:

– UK GDP (m/m) at 09:00 (GMT+2);
– UK Industrial Production (m/m) at 09:00 (GMT+2);
– UK Manufacturing Production (m/m) at 09:00 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 115.79
Prev Close: 116.12
% chg. over the last day: +0.28%

The US Federal Reserve and the Bank of Japan will hold monetary policy meetings next week. Still, although the Federal Reserve will almost certainly raise interest rates, the Bank of Japan will remain in monetary policy for a long time. This situation favors the growth of USD/JPY quotes. The dollar has already reached a five-year high against the yen. But investors should remember that the Japanese yen is a safe-haven currency in case of various financial disturbances. In this regard, the war in Ukraine may make adjustments.

Trading recommendations

Support levels: 116.32, 115.50, 115.13, 114.71, 114.41
Resistance levels: 117.11

The medium-term trend on the USD/JPY currency pair is bullish. The MACD indicator is in the positive zone. There are signs of overselling but no signs of reversal. Under such market conditions, it is best to look for buy deals after a small pullback, as the price has strongly deviated from the moving averages. A support level of 116.32 would be best, but with additional confirmation. For sell deals, a resistance level of 117.11 can be considered, but it is necessary to wait for the reaction of sellers.

Alternative scenario: if the price fixes below 115.50, the uptrend will likely be broken.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.2806
Prev Close: 1.2768
% chg. over the last day: -0.30%

The Canadian dollar is a commodity currency, so it is highly dependent not only on the monetary policy of the Bank of Canada but also on the dynamics of oil prices and the dollar index. The dollar index showed a slight growth yesterday, while oil remained stable. As a result, the USD/CAD quotes are traded in the price corridor.

Trading recommendations

Support levels: 1.2737, 1.2653, 1.2555, 1.2517
Resistance levels: 1.2815, 1.2871, 1.2890

From a technical point of view, the USD/CAD currency pair trend is bullish. The price trades between the moving averages, indicating a more flat structure within a bullish trend. It is worth trading only with short targets, as both oil and the dollar index are still fundamentally inclined to rise. Under such market conditions, it is better to look for buy trades on lower time frames from the support level of 1.2737, but it is better with additional confirmation. For sell deals, it is better to consider the resistance level of 1.2815.

Alternative scenario: if the price breaks through and consolidates below 1.2737, the downtrend will likely resume.

News feed for 2022.03.11:

– Canada Unemployment Rate (m/m) at 15:30 (GMT+2).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Financial News Forex and Currency News

11 Mar

Rising inflation and energy prices will slow global economic growth

by JustForex

The US stock indices closed lower yesterday amid negative consumer price index data. The inflation rate in the US reached 7.9% year on year, the highest level in the last 40 years. At the close of the stock market yesterday, the Dow Jones index (US30) was down 0.34%, the S&P 500 index (US500) lost 0.43%, and the NASDAQ technology index (US100) fell by 0.95%. Analysts are now confident that the US Federal Reserve will raise interest rates by 25 bps at subsequent meetings this year. Yesterday, SaxoBank analysts said that “given the strong increase in energy and transportation costs, mainly related to Ukraine, we forecast that the US inflation rate could reach double digits this year.”

European stock indices have started to decline again. At the close of business yesterday, the German DAX (DE30) decreased by 2.93%, the French CAC 40 (FR40) lost 2.83%, the Spanish IBEX 35 (ES35) decreased by 1.15%, and the British FTSE 100 (UK100) fell by 1.27%. At its meeting yesterday, the European Central Bank unexpectedly announced that it would begin cutting its bond-buying program in the third quarter of this year and open the door to raising the interest rate by the end of 2022 to fight rising inflation. The ECB also lowered its forecast for Eurozone economic growth this year to 3.7% from the 4.2% previously expected. The inflation forecast for the current year was raised to 5.1% from 3.2%. Analysts believe that the war in Ukraine will have a serious impact on economic activity and inflation in the Eurozone due to rising energy and commodity prices, undermining international trade, and the weakening of confidence. In addition, market participants were disappointed by the talks between Russian Foreign Minister Sergei Lavrov and Ukrainian Dmitry Kuleba in Turkey.

The US Federal Reserve and the ECB face very difficult challenges in balancing high inflation and slowing economic growth. The situation cannot be left as it is. Otherwise, inflation will continue to rise, which is already at highs. On the other hand, tighter monetary policy will slow economic growth, given that many countries have failed to reach the pre-pandemic levels and could go back into recession. Against this backdrop, European countries are more vulnerable than the US and UK.

At yesterday’s EU summit, the Hungarian Prime Minister said that the EU would not impose sanctions on oil and gas imports from Russia. But at the same time, the heads of the states and governments of the European Community have stated their determination to increase pressure on Russia and Belarus even more.

Asian stock indices are decreasing sharply in trading on Friday amid uncertainty over the situation in Ukraine and concerns about persistently high inflation. Japan’s Nikkei 225 (JP225) decreased by 2.05% from the open, Hong Kong’s Hang Seng (HK50) lost 1.61%, and Australia’s S&P/ASX 200 (AU200) fell by 0.94%. Reserve Bank of Australia Governor Lowe said that the RBA would prepare to raise interest rates this year amid an expected further inflation rise due to a jump in global commodity prices. Two weeks ago, the RBA did not plan to raise rates this year.

Main market quotes:

S&P 500 (F) (US500) 4,259.52 -18.36 (-0.43%)

Dow Jones (US30) 33,174.07 -112.18 (-0.34%)

DAX (DE40) 13,442.10 -405.83 (-2.93%)

FTSE 100 (UK100) 7,099.09 -91.63 (-1.27%)

USD Index 98.54 +0.57 (+0.58%)

Important events for today:

– Australia RBA Lowe’s Speech at 00:15 (GMT+2);
– UK GDP (m/m) at 09:00 (GMT+2);
– UK Industrial Production (m/m) at 09:00 (GMT+2);
– UK Manufacturing Production (m/m) at 09:00 (GMT+2);
– German Consumer Price Index (m/m) at 09:00 (GMT+2);
– Canada Unemployment Rate (m/m) at 15:30 (GMT+2);
– US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+2).

by JustForex

Financial News Forex and Currency News

10 Mar

RoboMarkets Entered Into Premium Partnership With Eintracht Frankfurt

RoboMarkets, a provider of investment services in financial markets, announced a premium partnership with professional football club Eintracht Frankfurt from Bundesliga starting 2022.

The agreement between RoboMarkets and Eintracht Frankfurt came into effect this year and is valid until the end of the 2023/2024 season. According to the agreement, RoboMarkets will receive the Premium Partner status. The company’s logo will be featured on the club’s home stadium, Deutsche Bank Park. It will also be displayed on advertising panels, and appear in TV advertisements during the matches. Apart from the visual advertising on the stadium, throughout its validity period, the agreement implies a series of marketing and communication activities via the football club’s digital channels.

Along with the basic cooperation package, the agreement also includes a partnership with EintrachtTech, a digital subsidiary of Eintracht Frankfurt that develops an application for fans named Mainaqila. The application runs the club’s breaking news and streams the coverage and interviews on EintrachtTV and EintrachtFM. By using the Mainaqila app, fans can buy merchandise, tickets for matches, and receive access to exclusive offers from partners. The partnership between RoboMarkets and EintrachtTech is focused on collaborative applications of technological solutions, which help to develop and improve Mainaqila and make it more convenient for the club’s fans.

Axel Hellmann, Eintracht Frankfurt board spokesman comments on the partnership: “With RoboMarkets, we’ve managed to onboard a Premium Partner that not just thinks about the future but is actually living in it. With Frankfurt being one of the world’s most important financial centres, there are brand new visions opening up here for all parties, which everyone can be happy about.”

Maximilian Felske and Gottfried Korzuch, General Managers of RoboMarkets Deutschland GmbH, added: “We see Eintracht Frankfurt as our strategic partner in the coming years, who will support us significantly in expanding the awareness levels of RoboMarkets in existing as well as new territories. Our partnership is shaping our ambitious vision of meeting challenges head-on at the very top of our respective leagues in Germany and Europe on a consistent basis.”

About Eintracht Frankfurt

The Frankfurt-based professional football club Eintracht Frankfurt was founded in 1899. The club has been developing for over 100 years and demonstrating remarkable results in Bundesliga, the top German football league. The club has won one German championship and five German knockout football cups. Internationally, Eintracht Frankfurt has won one UEFA Cup and has once finished as runner-up in the European Cup/UEFA Champions League.

About RoboMarkets

RoboMarkets is an investment company, operating under CySEC licence No. 191/13. RoboMarkets offers investment services in European countries by providing access to its proprietary trading platforms to traders who work on financial markets. Find out more about the Company’s products and activities on www.robomarkets.com.

Financial News Forex and Currency News

10 Mar

The Aussie Is Trending Higher, But For How Long?

By Orbex

Usually, when there is a move towards safe havens, commodity currencies take a bit of a hit.

So, traders might be a little surprised to see that the AUDUSD has generally been trading higher since the massive risk-off event that was the Russian invasion of Ukraine. Sure, the pair had been moving higher throughout most of February, only correcting a bit in early March. Overall, the trend seems to be towards the upside.

In order for us to understand if it’s likely to continue or turn around, it would be worthwhile to look into some of the possible reasons why this unusual phenomenon is happening.

Things aren’t exactly normal

A quick explanation might simply be that Australia is literally on the other side of the world from the conflict. It would likely be one of the countries that could have the least negative effect. So that might be a good place for investors to park their cash during this uncertain time. That is surely a contributing factor, but not the full explanation.

One of the things that people are becoming increasingly aware of as more sanctions are imposed on Russia, is just how much Europe, in particular, depends on Russia for raw materials. The one we’ve been mostly focusing on has been natural gas. It’s the most obvious, followed by crude oil. Nonetheless, that’s not directly related to Australia.

A potential upside

It turns out that Europe also imports 67% of its metallurgical coal from Russia. Metallurgical coal, coke, or coking coal, is used in steel manufacturing to heat up the iron ore enough to make steel. Germany’s industrial capacity, particularly of cars, would likely experience a major blow if there’s a sanction of Russian coal. This could also happen if there are any shipments interruptions for other reasons.

On top of that, Germany gets over half of its thermal coal from Russia as well. Thermal coal is used for heating, and primarily for electricity generation. Germany’s electric grid is already in trouble because of less wind than the seasonal norm, and the lack of inventories for its natural gas plants.

Russia is the world’s second-largest steel producer. Ukraine is in the top ten. There has been a lot of fighting around Mariupol, where one of the largest steel mills in Europe is. If other countries were to ramp up steel production, they would need both coal and iron ore.

Those are Australia’s two main exports

Coal prices have more than doubled since the start of the Ukrainian crisis. Iron ore prices, which had been declining throughout February, have shot higher. However, they’re still not back to last year’s levels.

So far, there was no interruption of supplies of these materials. But just like with natural gas and crude, buyers are shying away from Russian sources out of fear that they won’t be able to deliver in the future. That has put a premium on material sourced from other countries, like Australia.

Most notably, this concern over not being able to deliver doesn’t appear to be affecting Chinese buyers. But it is enough to push up the international price. It also implies more demand for the Aussie dollar as long as the uncertainty around Ukraine remains.

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Article by Orbex

Financial News Forex and Currency News

10 Mar

Japanese Candlesticks Analysis 10.03.2022 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the resistance level. At the moment, EURUSD is reversing and may form a new correctional impulse. In this case, the downside correctional target may be at 1.0980. However, an alternative scenario implies that the price may continue growing to reach 1.1140 without any corrections towards the support area.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed a Shooting Star reversal pattern not far from the resistance level. At the moment, the asset is reversing and may start a new pullback towards the support area. In this case, the downside correctional target may be at 115.80. At the same time, an opposite scenario implies that the price may grow to reach 116.60 and continue the uptrend without any corrections towards the support area.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Hanging Man reversal pattern near the resistance area, EURGBP is reversing and may start another descending wave. In this case, the downside target may be at 0.8365. Later, the market may test the support level, break it, and continue the descending tendency. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.8445 first and then resume trading downwards.

Article By RoboForex.com

Financial News Forex and Currency News

10 Mar

Murrey Math Lines 10.03.2022 (USDCHF, GOLD)

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 6/8. However, this scenario may be cancelled if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, after breaking 8/8, XAUUSD is no longer trading within the “overbought area”. In this case, the price is expected to continue moving downwards to reach the closest support at 7/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and form one more ascending wave towards +1/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

Article By RoboForex.com

Financial News Forex and Currency News

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