GOMarkets Lachlan Meakin
FX Analysis – USD whipsaws , AUDNZD hits new lows, Gold holds key support
USD was ultimately flat in Thursdays session after a rollercoaster of a ride, DXY printed a low in the European session of 103.43 before rallying up to the 100 Day SMA at 104.10 after better than expected US Jobless claims. Flash PMIs for February were m...
7 months ago
Market analysis – NVDA rips higher on earnings, Gold holds key support, NZD outperforms
The much awaited NVDA Q4 earnings didn’t disappoint with the tech giant knocking it out of the park, handily beating analysts’ expectations on the top and bottom lines. For the quarter, Nvidia reported adjusted earnings per share (EPS) of $5.16 on revenue...
7 months ago
FX analysis – USDJPY hits 34 year highs, Gold surges
Thin trading in FX markets continued in a holiday shortened week with G10 FX mostly flat against the USD in Wednesday’s session also looking like traders are waiting for Fridays key US PCE inflation reading. The highlights were: USDJPY pushed past its Nov...
6 months ago
FX Analysis – USD weaker, AUD , NZD up on firm Yuan fix, JPY jawboning
USD was slightly lower on Monday with DXY hitting a low of 104.140, holding above the 104 support level. News was light with only New Home Sales of any note, which missed modestly to the downside (662k vs the expected 675k). There was some Fed speak, the...
6 months ago
FX Analysis – USD dips on dovish Powell, JPY continues lower after BoJ
USD was notably lower after what was seen as a dovish FOMC meeting on Wednesday. The Fed 2024 median dot was left unchanged with 3 cuts for 2024 still the Fed forecast but the dovish part came at the presser where Fed Chair Powell downplayed the hot Janua...
6 months ago
FX analysis – Gold and USD eye key CPI figure
After last week’s blockbuster NFP figure FX traders have a key US CPI reading to look forward to later today. Rates markets have seen see-sawing expectations on when the Fed will start cutting rates and today’s CPI will be another big part of that puzzle...
6 months ago
FX analysis – USD rallies on hawkish Fed, JPY holds above 154
USD rallied in Tuesday’s session, with the US dollar Index hitting a 2024 high of 106.510 after hawkish Fed Chair Powell commentary where he noted recent data was showing a lack of further progress on inflation. Powell also added that if higher inflation...
5 months ago
FX analysis – USD decline continues post FOMC, JPY outperforms on probable BoJ intervention
USD continued the move lower sparked by a somewhat dovish Powell in Wednesdays FOMC meeting. And ahead of today’s key NFP print. DXY did hit highs after hot labour costs data, though quickly reversed to hit 3-week lows of 105.29, closing at session lows a...
5 months ago