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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 January and February CPI numbers. This dovish tilt saw risk assets surge and the USD dump. US...

March 21, 2024
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FX Analysis – USDJPY surges post BoJ, AUDUSD drops on dovish RBA, USD bid ahead of FOMC

JPY was the currency everyone was watching coming into the pivotal BoJ meeting on Tuesday. The BoJ, as widely telegraphed, ended 17 years of negative interest rates, ETF purchases and their yield curve control policy. While a big move from the central bank there was no real surprise, with USDJPY surging to touch on 151, well into the “interventio...

March 20, 2024
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GO Markets victorious at the World Business Outlook Awards

The World Business Outlook Awards are among the most distinguished recognitions in the global business landscape, celebrating excellence, innovation, and outstanding performance across various sectors. GO Markets' remarkable win in this category underscores its commitment to providing exceptional services and building trust among its clientele. ...

March 20, 2024
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FX analysis – AUD whipsaws ahead of RBA, USDJPY inches higher with BoJ in sight, XAUUSD holds support

Mondays FX trade was relatively quiet on ahead of a some key central bank meetings today in the RBA and especially the BoJ. USD saw gains with the Dollar Index (DXY) rising from lows of 103.33 to highs of 103.65, with the index heading into APAC trade near Monday’s session high after yields were higher across the curve ahead of key risk events...

March 19, 2024
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FX Analysis – Gold rebounds, USDJPY whipsaw, EURUSD holds key support

USD saw marginal weakness on Wednesday in a quiet news day. The US Dollar Index (DXY) pushing to lows after a strong 30yr Treasury saw yields drop and DXY briefly breaking beneath Tuesdays low of 102.72.  A turn around later in the session saw DXY retake the 50% Fib support level at 102.80 ahead of today’s Retail Sales, Jobless Claims, and PPI d...

March 14, 2024
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FX Analysis – Yen surges on BoJ jawboning, Gold sets another ATH, EUR breaks key level

USD was notably weaker in Thursday’s session ahead of the pivotal NFP report on Friday. The US Dollar index falling for the fifth straight session and breaking below 103 to touch on the Jan 24 lows before finding some support. Risk-on sentiment, a fall in yields and weak jobless claims data being the main drivers of the Greenback decline. ...

March 8, 2024
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FX Analysis – Risk-off sees Gold soar to all time highs, Yen outperforms after hot CPI

Risk off returned to the markets in Tuesdays session with US equity markets pulling back sharply led by tech stocks with the NASDAQ being the biggest loser, shedding 1.65%. The big headline for the day in FX was gold touching on all-time highs, rallying for a fifth straight session, buoyed by haven flows and a drop in US treasury yields. XAUUSD ...

March 6, 2024
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FX analysis – Gold hits new closing high, USDJPY holds above 150, DXY flat despite rising yields

Gold surged again in Monday’s session despite a rise in US Treasury yields and setting a new closing high. There was little fundamental news to drive the rally though a comparable surge in the Crypto markets has seemingly given the other “alternative” currency a tailwind. This is four up sessions for gold and with momentum behind it is eyeing...

March 5, 2024
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FX Analysis – USD dips, USDJPY holds above 150, EURUSD rallies

USD sold off on Monday with DXY failing to hold above 104 after finding some resistance at the 100 DAY SMA and dipping from a high of 104.20 to a low of 103.70 where the 200 Day SMA held as support. The move lower in USD came despite higher UST yields, which would normally support the USD. EURUSD was supported by the weaker USD with EURUSD r...

February 27, 2024
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The week ahead – RBNZ rate decision, USD, AUD and JPY inflation data

FX markets enter the new week with market sentiment firmly risk-on with all-time highs seen in US and Japanese indexes after a blowout earnings report from AI darling Nvidia (NVDA) sent stocks surging. Ahead this week we have key inflation data out of the US, Australia and Japan along with a RBNZ rate decision which is certainly in play. The ...

February 26, 2024
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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 mixed with a fall in Services but a rise in Manufacturing, DXY heading into the APAC session ju...

February 23, 2024
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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 of $22.1 billion. Analysts were expecting EPS of $4.60 on revenue of $20.4 billion. For c...

February 22, 2024
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FX analysis – AUDUSD at key resistance ahead of RBA minutes and wage data

With the US closed for a holiday FX markets on Monday struggled to find much direction though China re-opening in the green after an extended leave did lend some support to the Aussie dollar ahead of todays RBA minutes. The February 6th RBA meeting saw a statement that had a bit of both ways, acknowledging broad progress on the inflation front but ...

February 20, 2024
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FX Analysis – USD dips , GBP falls on cool CPI, JPY jawboning , EUR up on data

USD dipped in Wednesday’s session after the CPI inspired surge on Tuesday. The US dollar index (DXY) hitting resistance at the 105 level and dropping to a low of 104.65. Reports of Fed Chair Powell downplaying Tuesday's hotter than expected CPI along with the Fed's Goolsbee stating US inflation is still consistent with the Fed's path back to targ...

February 15, 2024
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FX Analysis – USDJPY holds key level, AUDNZD has best day of year, USD quiet ahead of CPI

USD Dollar saw mild strength in Monday’s session, DXY trading either side of the psychological 104.00 level but again being capped to the upside by the 100-day SMA resistance. The was little in the way of a catalyst with no tier one data released, that will change today with US CPI figures released, which will help market participants and the Fed...

February 13, 2024
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