Asia-Pacific Market Briefing – AUD/USD May Rise After Rosy US Session The sentiment-linked Australian Dollar pulled cautiously higher on Thursday after US GDP data bolstered risk appetite on Wall Street. At the end of the session, the Dow Jones, S&P 500 and Nasdaq 100 gained 0.61%, 1.1% and 1.76%, respectively. This risk-on dynamic dented demand...Read More

NZD/USD SHORT-TERM TECHNICAL FORECAST – NEUTRAL Wednesday’s drop in the New Zealand dollar against the US dollar could be short-lived. NZD/USD fell after New Zealand’s fourth-quarter inflation rose less than what the Reserve Bank of New Zealand (RBNZ) had forecast. CPI rose 7.2% on-year in the fourth quarter, slightly above analysts’ expectations of 7.1%, but...Read More

Technical achievements alone are not enough to prompt the market to action. For charts traders – myself included – this has led to significant frustration in assessing market moves over these past months. The most recent break would come from the S&P 500 to start this week. The benchmark US index Monday picked up where...Read More

Global market sentiment was a mixed bag last week. On Wall Street, the Dow Jones plummeted 2.38% as the tech-heavy Nasdaq 100 soared 1.27%. Things looked worse across the Atlantic Ocean, the DAX 40 and FTSE 100 fell -0.35% and -0.94%, respectively. Markets were rosier in the Asia-Pacific region. The Nikkei 225 and Hang Seng...Read More

Asia-Pacific Market Briefing – Australian Dollar Vulnerable to Risk Aversion The sentiment-linked Australian Dollar underperformed against its major counterparts over the past 24 hours. It began with a disappointing employment report, where Australia unexpectedly lost jobs in December as unemployment ticked slightly higher. While this may induce less-hawkish Reserve Bank of Australia policy expectations, the...Read More

The Australian Dollar had a look lower after the unemployment rate came in at 3.5% for December against 3.4% previously and forecast. There were -14.6k fewer jobs which were below the 25k forecast to be added and 58k prior. Although a small miss, the unemployment rate continues to linger near multi-generational lows. Today’s numbers show...Read More

The Japanese Yen weakened over 2 percent in the aftermath of January’s Bank of Japan monetary policy announcement. If losses are sustained, this will end up being the best single-day performance for USD/JPY since March 2020. Let us take a closer look at what happened here. Well as it turns out, nothing much at all....Read More

The Australian Dollar leapt toward yesterday’s six-month peak against the US Dollar with China’s GDP much better than forecast. Chinese GDP printed at 2.9% year-on-year for the fourth quarter against expectations of 1.6% and 3.9% previously. Other Chinese data was released at the same time, with industrial production for the year to the end of...Read More

high against the US Dollar with USD/JPY trading as low as 127.46 on Friday. Inflationary data released today might provide a headache for the Bank of Japan at their monetary policy meeting this Wednesday. Year-on-year PPI to the end of December came in at 10.2%, above forecasts of 9.5% and 9.7% previously. The month-on-month figure...Read More

We are forming a nasty 2023 habit of closing out trading weeks on cliffhangers with tentative technical moves that fall critically short of fostering a genuine sense of conviction for directional traders. Given that we are coming out of the year-end holiday trading period, there is an abundance of technical levels carrying over from the...Read More