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 persists the Fed can maintain current rate as long as needed. On data, building permits and h...

April 17, 2024
Read More >
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. US CPI for March is expected to come in at a 0.3% increase, a slight cooling from Feb...

April 10, 2024
Read More >
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 November 2023 high hitting 151.97 which is the highest level this pair has reached since 1990...

March 28, 2024
Read More >
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 highlight being Fed hawk Bostic where he reiterated his desire of just one rate cut in 2024, th...

March 26, 2024
Read More >
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
Read More >
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
Read More >
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
Read More >
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
Read More >
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
Read More >
GO Markets wins two titles at the International Business Magazine Awards

GO Markets, a leading global online trading provider, has been announced as the winner of the International Business Magazine Awards in the categories of: Most Trusted Global Forex Broker, Asia 2024 Best Global Forex Broker, Asia 2024 The International Business Magazine Awards recognise excellence and achievements in the international bu...

March 13, 2024
Read More >
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
Read More >
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
Read More >
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
Read More >
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
Read More >
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
Read More >