Notizie dai Mercati

6 ottobre 2022
  • 04:41

    Japan’s Kihara: North Korea's frequent missile launches cannot be permitted

    Japanese Deputy Chief Cabinet Secretary Seiji Kihara is out on the wires now, via Reuters, condemning the missile launches by North Korea.

    Key quotes

    "North Korea's frequent missile launches cannot be permitted."

    "North Korea may increase provocative operations, including nuclear tests."

    Meanwhile, the White House said in the last hour that North Korean missile launches pose no immediate danger to allies.

    Also read: North Korea appears to have fired missiles again towards Japan

    Market reaction

    At the time of writing, USD/JPY is trading modestly flat around 144.65, unperturbed by the geopolitical headlines.

  • 04:30

    Commodities. Daily history for Wednesday, October 5, 2022

    Raw materials Closed Change, %
    Silver 20.641 -1.8
    Gold 1716.68 -0.47
    Palladium 2255.4 -2.69
  • 04:25

    Gold Price Forecast: XAU/USD bulls target $1,735 as focus shifts to US NFP – Confluence Detector

    • Gold price is back on the bids amid a subdued US dollar alongside yields.
    • Investors assess mixed US data and the Fed rate hike bets amid a better mood.
    •  XAU/USD bulls keep their sight on the $1,735 barrier ahead of US NFP.

    Gold price is finding fresh demand in Thursday’s trading so far, reverting towards three-week highs amid a broadly subdued US dollar and lackluster performance in the Treasury yields. Markets are in a risk-on mood, implying that they are ignoring the impact of surging oil prices while cheering hopes for not-so-aggressive Fed, especially after the US ISM Services Price Paid component softened more than expected in September. However, the US ADP employment data outpaced expectations of 200K, arriving at 208K in the reported month. All eyes now remain focused on Friday’s US Nonfarm Payrolls release for a fresh direction in the dollar, as well as, in the yellow metal.  

    Also read: Gold Price Forecast: Bulls not ready to give up

    Gold Price: Key levels to watch

    The Technical Confluence Detector shows that the gold price is yearning for acceptance above the convergence of the SMA50 one-day and pivot point one-month R1 at $1,724.

    The previous day’s high of $1,728 will test bulls’ immediate upside, above which the pivot point one-day R1 at $1,730 needs to be cleared to kickstart a fresh rally towards the previous month’s high of $1,735.

    On the flip side, bulls will draw support from the Fibonacci 61.8% one-day at $1,718, below which sellers will target the previous low four-hour at $1,715.

    The confluence of the Fibonacci 38.2% one-day and pivot point one-week R2 at $1,712 will be a tough nut to crack for XAU bears.

    Here is how it looks on the tool

    fxsoriginal

    About Technical Confluences Detector

    The TCD (Technical Confluences Detector) is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc.  If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points at a time. If you are a medium-to-long-term trader, this tool will allow you to know in advance the price levels where a medium-to-long-term trend may stop and rest, where to unwind positions, or where to increase your position size.

  • 03:54

    USD/CAD bulls are lurking at key support

    • USD/CAD bears are in town, attempting to take over control.
    • USD/CAD bulls could be back for more is the US dollar can stabilise in support.

    The Canadian dollar has attempted a comeback following a resurgence in the US dollar and key events surrounding the oil market. USD/CAD is currently down 0.155 in Asia at 1.3595. The US dollar index, DXY has dropped from its overnight high of 111.735 that came about following a tear in US yields as markets price out overall optimistic speculation over a Federal Reserve pivot. The yield on the US 10-year note was up a high of to 3.78%. In trade today, DXY is down -0.22%.

    US data went some ways in supporting the greenback as it failed to buttress recent hopes the Fed might adopt a less hawkish policy stance. The September ISM services index showed significant resilience in the face of rapid Fed tightening since March.

    ''At 56.7, the index rose for the 28th consecutive month and is more or less in line with the 20-year long-run average (57.5). In sum, service sector activity is not yet sufficiently below trend to exert strong downward pressure on inflation. Indicators of price pressures are slowing. The prices component was 68.7 vs 71.5 and the supplier deliveries index eased 0.6 to 53.9. Employment rebounded to 53.0 (+2.8) and new exports rose (+3.2 to 65.1), despite the strength in the US,'' analysts at ANZ Bank explained. 

    Meanwhile, West Texas Intermediate crude was higher by some 1.5% having climbed from a low of $87.52 to a high of $88.41that rallied due to a significant cut to production expected from OPEC+ that meets in Vienna. The cartel looks to buoy oil prices that have dropped by nearly 30% from their July highs.

    The worries over a slowing global demand had dragged the price of WTI down 37% from its peak in June," economist Jenny Duan at TD Economics said in a note, " and reports have said the group is considering cutting quotas by as much as two million barrels per day, This is coming at the same time that Russia seeks to handicap a G7 initiative to cap the price paid for the country's oil to hamper its ability to fund its war in Ukraine. Oil prices were also supported after the American Petroleum unexpected drop in US oil inventories of 1.77-million barrels last week, against analyst expectations for a 333,000-barrel rise. The Energy Information Administration will release official inventory figures later on Wednesday morning.

    USD/CAD technical analysis

    USD/CAD's breakout is flaking away following a move lower in the greenback again as the following technical analysis shows: 

    The price accelerated out of the downside trend on Wednesday but has run into offers as the US dollar corrects its resurgence and commodities pick up, even leading into Asia.

    However, as the following DXY chart illustrates, there is the case for an upside correction as per the M-formation's chart pattern which could see a turn around in USD/CAD for the day ahead. 

  • 03:24

    US Dollar Index declines sharply below 111.00 despite soaring hawkish Fed bets

    • The DXY has surrendered 111.00 ahead of US NFP data.
    • Soaring hawkish Fed bets have failed to support the DXY.
    • The US jobless rate is seen unchanged at 3.7%.
    • Yields have fallen sharply on the soaring market mood.

    The US dollar index (DXY) has turned extremely volatile after opening as investors have shifted their focus toward the US Nonfarm Payrolls (NFP) data. The DXY has surrendered the critical support of 111.00 as the risk-off impulse has faded away and investors are channelizing their funds into the risk-sensitive assets.

    That said, yields have fallen sharply despite the soaring bets over a hawkish stance expected by the Federal Reserve (Fed). At the time of writing, the 10-year US Treasury yields have fallen dramatically below 7.40%. As per the CME Fedwatch tool, 67.8% chances are favoring a fourth consecutive 75 basis points (bps) rate hike by the Federal in the scheduled monetary policy meeting in the first week of November.

    On Wednesday, the DXY displayed a firm pullback after dragging to near 110.00. The DXY bulls got an adrenaline rush on upbeat US ISM Services PMI data and Automatic Data Processing (ADP) Employment Change figures. The Non-Manufacturing PMI landed at 56.7, higher than the expectations of 56.0. Also, the payrolls have increased to 208k vs. the expectations of 200k.

    US NFP to display lucid employment status

    Cues from US ADP Employment data indicate that the US Nonfarm Payrolls (NFP) numbers will remain upbeat. As per the expectations, the US economy has added 250k jobs in the labor market against the prior projection of 315k. The Unemployment Rate is seen unchanged at 3.7%. Apart from them, the Average Hourly Earnings data will hog the limelight. The labor cost index is expected to decline to 5.1%, 10 bps lower than the prior release.

     

     

  • 03:18

    AUD/USD bulls are attempting to break higher with eyes towards 0.6680

    • AUD/USD bulls eye a break of the H&S resistance.
    • US dollar is under pressure in Asia, but bulls are lurking.

    AUD/USD bulls are in play as they knock on the doors of a key resistance despite the miss in the Trade Balance.

    At the time of writing, AUS/USD is trading close to 0.6510 following a mixed bag in the August trade data:

    The surplus came in slightly lower than forecast (A$8.32bn, versus A$10bn expected) due to the stronger than expected import growth at +4%, versus +1% forecast. Exports were also firmer, +3% (+2% forecast), more details to follow on this. 

    However, a weaker US dollar in trade on Thursday is giving the commodities a boost. The greenback is correcting the move from Wednesday when the DXY, rallied to 111.735. 

    A tear in US yields had helped to prop up the US dollar as the money markets price out overall optimistic speculation over a Federal Reserve pivot. The yield on the US 10-year note was up a high of to 3.78%. The US data went some ways in supporting the greenback as it failed to buttress recent hopes the Fed might adopt a less hawkish policy stance. The September ISM services index showed significant resilience in the face of rapid Fed tightening since March.

    ''At 56.7, the index rose for the 28th consecutive month and is more or less in line with the 20-year long-run average (57.5). In sum, service sector activity is not yet sufficiently below trend to exert strong downward pressure on inflation. Indicators of price pressures are slowing. The prices component was 68.7 vs 71.5 and the supplier deliveries index eased 0.6 to 53.9. Employment rebounded to 53.0 (+2.8) and new exports rose (+3.2 to 65.1), despite the strength in the US,'' analysts at ANZ Bank explained. 

    However, er are seeing a turnaround in flows in Asia on Thursday:

    AUD/USD and US dollar technical analysis

    The M-formation on the DXY is bullish, but if the index continues lower, then the Aussie will likely benefit significantly and this could be the makings of an inverse head and shoulders breakout to the upside:

  • 03:09

    Australian Trade Balance misses the mark, AUD/USD pops and drops

    The trade balance released by the Australian Bureau of Statistics came out missing expectations:

    • Australia's August exports +3% Mom vs. the prior -9.9% & imports +4% vs. the prior +5.2%.

    AUD/USD is testing into the 0.6520s on US dollar weakness in Asia but finding resistance there:

    However, the head and shoulders is a bullish prospect.

    About the Trade Balance

    This is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.

  • 02:49

    S Korea president Yoon: Firing of intermediate-range ballistic missile is aimed at hitting strategic assets

    South Korea president Yoon said the firing of an intermediate-range ballistic missile is aimed at hitting strategic assets. 

    North Korea fired missiles again according to the Japanese coast guard.

    The United States condemns North Korea's ballistic missile launch, the state department said the missile launches pose threat to regional neighbours and the international community.

    The US remains committed to a diplomatic approach to North Korea and call on the North to engage in dialogue.

    Earlier in the week, Japan urged residents to take shelter after North Korea had been reported to have fired a ballistic missile over the north of the country.

    It was the North's first missile launch over Japan since 2017.

    The US, Japan and South Korea conducted their own military drills in response.

    This escalation of Pyongyang’s missile tests has prompted immediate backlash from Tokyo and has put markets on risk-off alert. 

  • 02:48

    USD/JPY eyes more weakness below 144.40 on upbeat market mood, US NFP eyed

    • USD/JPY is looking to surrender the immediate support of 144.40 amid a volatile DXY.
    • The yen bulls are not giving much importance to the geopolitical tensions.
    • A decline in the US labor cost index won’t offset the impact of soaring inflationary pressures.

    The USD/JPY pair is hovering around the crucial support of 144.40 in the Tokyo session. The asset has established firmly below 144.50 and is expected to display sheer volatility as the US dollar index (DXY) has sensed a firmer selling interest. The DXY has dropped sharply below 111.00 and may test Wednesday’s low at around 110.00.

    An improvement in the risk appetite of the market participants has been observed as S&P500 futures have rebounded strongly after a subdued New York session. Last hour recovery in New York and continuation of upside momentum in Tokyo has underpinned risk-on impulse, which is also hurting the DXY.

    It seems that Japanese yen investors have shrugged off uncertainty over geopolitical tensions with North Korea for a while but things have not been fixed yet. The Japanese military has prepared military drills in response to ballistic missiles from North Korea without any prior intimation. Meanwhile, comments have arrived from South Korea President Yoon Suk-yeol that the firing of an intermediate-range ballistic missile is aimed at hitting strategic assets.

    Going forward, the US Nonfarm Payrolls (NFP) data will be of utmost importance. The employment generation process is elevating but at a diminishing rate. As per the estimates, the US NFP will release lower at 250k vs. the former figure of 315k. The catalyst that is expected to impact much is the Average Hourly Earnings data, which is seen declining by 10 basis points (bps) to 5.1% on an annual basis.

    Price pressures in the US economy are at elevated levels and higher earnings are required to offset the same. A decline in the labor cost index may dent the sentiment of households.

     

  • 02:32

    Hong Kong SAR Nikkei Manufacturing PMI came in at 48, below expectations (51.8) in September

  • 02:32

    Australia Imports (MoM) dipped from previous 5.2% to 4.5% in August

  • 02:32

    Australia Exports (MoM) increased to 2.6% in August from previous -9.9%

  • 02:32

    Australia Imports (MoM): 4% (August) vs previous 5.2%

  • 02:31

    Australia Exports (MoM) increased to 3% in August from previous -9.9%

  • 02:30

    Australia Trade Balance (MoM) came in at 8324M below forecasts (10500M) in August

  • 02:30

    Stocks. Daily history for Wednesday, October 5, 2022

    Index Change, points Closed Change, %
    NIKKEI 225 128.32 27120.53 0.48
    Hang Seng 1008.46 18087.97 5.9
    KOSPI 5.84 2215.22 0.26
    ASX 200 116.4 6815.7 1.74
    FTSE 100 -33.88 7052.62 -0.48
    DAX -153.3 12517.18 -1.21
    CAC 40 -54.23 5985.46 -0.9
    Dow Jones -42.45 30273.87 -0.14
    S&P 500 -7.65 3783.28 -0.2
    NASDAQ Composite -27.77 11148.64 -0.25
  • 02:22

    NZD/USD Price Analysis: Bulls take charge towards RBNZ highs, eye a break of 0.5800

    • NZD/USD is breaking towards the RBNZ highs on Thursday.
    • A move above 0.5800 will open risk to the price imbalance between 0.5820 and 0.5835 on the way to 0.5850. 

    NZD/USD crash-landed mid-week, tumbling out of the blue skies made on the back of the Reserve Bank of New Zealand's hawkish hike of 50bps. However. the US dollar has found its feet again and the DXY index was last seen dipping below 111.00 but it had been as high as 111.735 on Wednesday.

    A tear in US yields has helped to prop up the US dollar as the money markets to price out overall optimistic speculation over a Federal Reserve pivot. The yield on the US 10-year note was up a high of 3.78%. It has come under some pressure in the Tokyo session, however:

    The yield is resisted but the M-formation is bullish. This in turn could put a floor in the downside for the greenback and weigh on the bird going forward:

    DXY H1 

    The price of the index is extending the downside in Asia which may give rise to a bullish continuation on the kiwi:

    NZD/USD H1 

    The bird is breaking towards the RBNZ highs on Thursday and a move above 0.5800 will open risk to the price imbalance between 0.5820 and 0.5835 on the way to 0.5850. 

  • 02:15

    Currencies. Daily history for Wednesday, October 5, 2022

    Pare Closed Change, %
    AUDUSD 0.64891 -0.17
    EURJPY 142.853 -0.76
    EURUSD 0.98799 -1.04
    GBPJPY 163.658 -1.04
    GBPUSD 1.13189 -1.31
    NZDUSD 0.57381 0.26
    USDCAD 1.36159 0.79
    USDCHF 0.98292 0.33
    USDJPY 144.605 0.3
  • 02:07

    EUR/USD extends recovery above 0.9900 as risk-off fades, US NFP in focus

    • EUR/USD has overstepped the major hurdle of 0.9900 as the risk-off market tone has started fading away.
    • The DXY is going through a tough time ahead of US NFP data.
    • Weaker projections for Eurozone Retail Sales indicate a decline in retail demand.

    The EUR/USD pair has crossed the immediate hurdle of 0.9900 confidently and is expected to establish above the same. The risk profile is getting cheerful now as S&P500 has rebounded firmly. Also, yields have cooled somehow as investors are shifting their focus toward the US Nonfarm Payrolls (NFP) data. The 10-year benchmark yields have slipped below 3.75%.

    Meanwhile, the US dollar index (DXY) has slipped sharply to near 111.00. It seems that the DXY is facing volatility amid lower consensus for the US employment data. Escalating interest rates by the Federal Reserve (Fed) to combat the mounting inflation has trimmed employment opportunities.

    The corporate has left with no other option than to postpone the capacity expansion and investment plans to avoid higher interest obligations. This is resulting in a slowdown in the job creation process.

    As per the expectations, the US Nonfarm Payrolls (NFP) data will decline to 250k vs. the prior release of 315k. The jobless rate is seen as stable at 3.7%. Apart from that, the Average Hourly Earnings data will remain in focus, which is expected to trim by 10 basis points (bps) to 5.1% on an annual basis.

    However, the upbeat release of the US Automatic Data Processing (ADP) payroll data on Thursday is not supporting the case for a slowdown in the recruitment process by the corporate sector. But the US NFP data is expected to display a clear picture of employment status in the US economy.

    On Thursday, the eurozone bulls will dance to the tunes of Retail Sales data. According to the estimates, the economic catalyst will decline by 1.7% against the former print of 0.9%. This indicates a slowdown in the overall retail demand and the mounting price pressures are responsible for the same. Apart from that, firms in the trading bloc are facing a serious decline in operating margins due to soaring energy prices.

     

  • 02:01

    New Zealand ANZ Commodity Price above forecasts (-1.7%) in September: Actual (-0.5%)

  • 01:50

    Japan Foreign Bond Investment climbed from previous ¥-1102.5B to ¥-886.3B in September 30

  • 01:50

    Japan Foreign Investment in Japan Stocks: ¥-501.8B (September 30) vs ¥-1178.9B

  • 01:35

    AUD/JPY sees an upside above 94.00 on escalating Japan-North Korea tensions

    • AUD/JPY is aiming to establish above 94.00 as yen bulls may face volatility on geopolitical tensions.
    • In response to North Korean missile tests, Japan military has formed drills with defensive agenda.
    • Australian Trade Balance will be the major trigger for further guidance.

    The AUD/JPY pair is gathering momentum to cross the immediate hurdle of 94.00 as the yen bulls are expected to face volatility amid ongoing tensions between Japan and North Korea. The market sentiment is expected to remain negative as the continuous firing of missiles from King Jong-un's economy is discarding Japan’s harmony.

    In the past 10 days, North Korea has fired more than five rounds of missiles. Tensions between Japan and North Korea scaled when it flew a missile for the first time since 2017. The unavailability of a prior warning has tangled things and forced the Japanese administration to conduct military exercises with a defensive agenda.

    For now, investors are keeping an eye on Australian Trade balance data, which could be a meaningful trigger for further guidance. As per the projections, the Australian Bureau of Statistics will report the monthly Trade Balance for August month at 10,500M vs. the prior release of 8,733M. The projections indicate that trading activity has spurted in the Australian region, which will support the aussie bulls further.

    While the AiG Performance of Construction Index for September has slipped to 46.5 vs. the prior release of 47.9 but didn’t make any major impact on the antipodean.

    On Friday, the Japanese yen will dance to the tunes of Overall Household Spending data. An increment in the economic data indicates the confidence of consumers in the economy. The economic data is seen higher at 6.7% against the former figure of 3.4%. This indicates that the retail demand has soared firmly and may also support the inflation rate to remain intact above 2%.

     

     

  • 01:24

    GBP/JPY Price Analysis: Subdued below the 78.6% Fibonacci, as sellers gain momentum

    • The GBP/JPY daily chart delineates the pair as neutral-biased from a technical perspective.
    • However, the pair meanders around the 78.6% Fibonacci retracement, which, once broken, will resume the GBP/JPY downtrend.
    • Contrarily, a break above 164.00 could open the door for a re-test of the weekly high.

    The GBP/JPY reached a fresh weekly high on Wednesday at 165.71 but plunged towards its daily low at 162.60 before retracing to current exchange rates for some reasons. Firstly, expectations of a possible Fed pivot extended the GBP/JPY uptrend since Monday. Nevertheless, Fed officials’ rhetoric emphasized the need for higher rates for longer, spurring a risk-off impulse. Therefore, as the Asian session begins, the GBP/JPY is trading at 163.77, below its opening price.

    The GBP/JPY is neutral-biased from a daily chart perspective, even though the pair managed to stay above the 100, 50, and 20-day EMAs. Nevertheless, it’s meandering around the 78.6% Fibonacci level, drawn from the September 13-26 high at 167.94/low at 148.63, which, if broken to the downside, might pave the way for further losses.

    If that scenario plays out, the GBP/JPY first support would be the 100-day EMA at 163.07, which, once cleared, will expose the confluence of the 50 and 20-day EMAs, around 162.10/20. A decisive break might send the pair plummeting to the junction of the 200-day EMA and the 61.8% Fibonacci retracement at 160.57.

    On the other hand, if GBP/JPY buyers hold the price above 163.81, it could open the door for further gains. The GBP/JPY’s first resistance would be the 164.00 figure, followed by 165, and then the October 5 daily high at 165.71.

    GBP/JPY Daily Chart

    GBP/JPY Key Technical Levels

     

  • 00:59

    EUR/JPY Price Analysis: A bearish harami in the daily chart could pave the way towards 142.00

    • EUR/JPY sellers stepped in around 144.00, sending the pair sliding below 143.00.
    • A bearish harami candle pattern in the daily chart suggests the EUR/JPY might be headed to the downside.
    • Short term, the EUR/JPY hourly chart portrays the 20-EMA crossing under the 50-EMA, opening the door for a resumption of the downtrend.

    The EUR/JPY retreats from weekly highs, as traders dump riskier assets, as market participants assess that a Fed “dovish” pivot might not happen, as Fed policymakers reiterated that further rate hikes are coming. At the time of writing, the EUR/JPY is trading at 142.88, below its opening price as the Asian session begins.

    EUR/JPY Price Analysis: Technical outlook

    The EUR/JPY rally stalled around 144.00 as Wednesday’s price action opened near Tuesday’s close and hit a daily low at 142.44 before closing at 142.98. Traders should be aware that a bearish-harami candle chart pattern emerged, as shown by the EUR/JPY daily chart. Therefore, if the EUR/JPY breaks decisively, October’s 5 low of 142.44 could pave the way for further losses.

    The EUR/JPY’s first support would be the 20-day EMA at 142.11, which, once cleared, will expose the 142.00 mark.

    In the one-hour scale, the EUR/JPY depicted a double top chart pattern, fulfilled through Wednesday’s session, falling towards the October 3 high at 142.46 before bouncing off toward the current exchange rate. Nevertheless, the 20-EMA is about to cross under the 50-EMA around 143.18, which coupled with the RSI’s aiming lower in bearish territory, could open the door for a resumption of the downtrend.

    Therefore, the EUR/JPY first support would be the confluence of October’s 3 low and the 100-EMA at 132.44/48. The break below will expose the S1 daily pivot at 142.26, followed by the S2 pivot point at 141.50, ahead of the 200-EMA at 140.88.

    EUR/JPY Key Technical Levels

     

  • 00:51

    Gold Price Forecast: XAU/USD aims to extend recovery above $1,720 as focus shifts to US NFP

    • Gold price has resumed its upside journey after a pullback to near $1,700.00.
    • Escalating Japan-North Korea tensions are turning the risk-profile wheel to the negative side.
    • After bumper US ADP data, upbeat NFP numbers would soar the odds of a 75 bps rate hike further.

    Gold price (XAU/USD) has turned sideways after sensing demand around the critical support of $1,700.00. The precious metal is aiming to cross the $1,720.00 hurdle and will find its next barricade around $1,730.00. The yellow metal is holding its gains while the market sentiment is turning negative on escalating tensions between Japan and North Korea.

    The option of announcing a third consecutive 75 bps rate hike by the Federal Reserve (Fed) is getting votes now. Earlier, the San Francisco Fed President Mary Daly said that inflation remains high, adding that more rate hikes are needed. She emphasized that the Fed is “resolute” on raising rates further to bring inflation down.

    Apart from that, upbeat payroll data dictated that the pace of hiring by the corporate is not slowed down yet. The US Automatic Data Processing (ADP) data reported higher at 208k vs. the prior release of 200k. Also, a better-than-projected US ISM non-manufacturing gamut is hinting that the overall demand is still solid.

    On Friday, the release of the US Nonfarm Payrolls (NFP) will display a true picture of the labor market status. As per the consensus, the economy has added 250k fresh jobs lower than the reading of 315k reported for August.

    Gold technical analysis

    Gold prices have bounced back sharply after sensing a significant buying interest around the horizontal support placed from October 10 high at $1,702.62. The 200-period Exponential Moving Average (EMA) has acted as major support for the counter. Also, the termination of a corrective move to near $1,700.00 has pushed the gold prices back above the 50-EMA at around $1,714.00.

    Meanwhile, the Relative Strength Index (RSI) (14) is hovering around 60.00 and is looking to establish above the same.

    Gold intraday chart

     

  • 00:17

    AUD/USD corrects to near 0.6500 as hawkish Fed bets soar

    • AUD/USD has surrendered the 0.6500 cushion as firmer US ADP has spurted the hawkish Fed bets.
    • The release of better-than-projected payroll data and ISM Services PMI data soared DXY’s appeal.
    • Market mood has turned sour as North Korea launched a missile in early Tokyo.

    The AUD/USD pair has dropped marginally below the psychological support of 0.6500 after facing barricades around the usual resistance of 0.6520, acting firmer for the past few trading sessions. The risk-off profile has got traction back amid escalating Japan-North Korea tensions. Kim Jong-un region is continuously firing missiles and one has been reported outside Japan’s EEZ-NHK in early Tokyo. Also, the 10-year Treasury yields are holding them at elevated levels above 3.75% while writing.

    Meanwhile, the US dollar index (DXY) is expected to oscillate above 111.20 and will later resume recovery further. A firmer demand has been recorded at around 110.00, which will continue its upside momentum on higher-than-expected US ISM Services PMI data. The economic data has landed at 56.7, higher than the expectations of 56.0. Also, the New Order Index that illustrates forward demand has been reported higher at 60.6 vs. the projections of 58.9.

    Apart from that, a release of better-than-projected US Automatic Data Processing (ADP) Employment data has spurted the odds of a fourth consecutive 75 basis point (bps) rate hike by the Federal Reserve (Fed). According to US ADP payroll data, the US economy has added 208k jobs than the estimates of 200k which has pushed the odds for a 75 bps rate hike to 67.8%, showed by the CME Fedwatch tool.

    On the Aussie front, investors are still in a hangover from an initial extent rate hike announcement by the Reserve Bank Australia (RBA). It is worth noting that the alternative of 25 bps rate hike was in consideration of RBA policymakers as it was discussed in September monetary policy meeting but was not announced.

     

     

  • 00:02

    USD/CAD Price Analysis: Inverted head-and-shoulders in the hourly chart targets 1.3877

    • USD/CAD found support around 1.3500, some pips above the 20-day EMA.
    • In the short term, the USD/CAD one-hour chart formed an inverse head-and-shoulders, which targets the pair to hit 1.3877.

    The USD/CAD cuts two days of losses and rises almost 0.80% as the New York session winds down due to some factors. Firstly, market sentiment deteriorated as traders assessed that a Fed “dovish” pivot was nowhere near to happening, so the greenback recovered against most G8 currencies. Therefore, the USD/CAD is trading at 1.3620, above its opening price.

    USD/CAD Price Analysis: Technical outlook

    The USD/CAD faced solid support at 1.3500, the 38.2% Fibonacci retracement, 50-pips above the 20-day EMA, after plunging from the YTD high above 1.3800. Traders should be aware that price action in the last couple of days formed a tweezers-bottom, meaning that prices would likely increase. However, after dropping from oversold levels, RSI’s flat slope suggests the pair might consolidate before determining its direction.

    The USD/CAD one-hour chart portrays the pair as forming an inverted head-and-shoulders chart pattern, though to validate it, the major needs to clear the neckline at around the R1 daily pivot at 1.3707. Once broken, the next resistance would be the R2 pivot at 1.3797, followed by the inverted head-and-shoulders chart pattern target at 1.3877.

    USD/CAD Key Technical Levels

     

6 ottobre 2022
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USDCHF
USDJPY
XAGEUR
XAGUSD
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Il materiale pubblicato nel presente calendario economico è solo a scopo informativo. Si prega di leggere la dichiarazione di responsabilità.

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Avviso sui rischi dell'investimento: Il trading sul Forex e CFD a margine comporta un alto livello di rischio e può non essere adatto a tutti gli investitori. I CFD sono strumenti complessi e comportano un alto rischio di perdere denaro rapidamente a causa della leva finanziaria. Il 76.41% dei conti degli investitori al dettaglio perde denaro quando trada i CFD tramite questo provider. Prima della negoziazione è necessario prendere in considerazione il proprio livello di esperienza e la propria situazione finanziaria. TeleTrade usa il massimo impegno per fornire ai propri clienti tutte le informazioni necessarie e le più appropriate misure di protezione ma, nel caso in cui i rischi risultino ancora poco chiari, esortiamo i nostri clienti ad avvalersi anche di una consulenza indipendente.

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Il materiale pubblicato ha scopo puramente informativo. Le performance passate non rappresentano indicazione di risultati futuri. Si prega di leggere l'informativa sulla dichiarazione di responsabilità.

I CFD sono strumenti complessi e presentano rischio significativo di perdere denaro a causa della leva finanziaria. Il 76.41% di conti di investitori al dettaglio perde denaro negoziando CFD con questo fornitore. Valuti la sua comprensione dei CFD e se può permettersi di correre un elevato rischio di perdite.