Forex
EUR looking to continue its bullish trend ahead of FOMC and ECB meeting
The EUR has been on a run since it bottomed in September 2022. From that time, the price is up almost 15% and is currently trading at 1.0863. However, with important economic data to come out of the USA and the next interest rate decision from both the ECB and the Federal Reserve coming out in the next few days the market may find some more directi...
US Dollar Index Testing Key Level
US Dollar Fundamental Analysis Recent data indicated that the U.S. economy grew strongly in the fourth quarter which has boosted the Dollar against the Euro. This has supported the Federal Reserve's hawkish stance in spite of reports that US consumer spending has fallen, and inflation has cooled. According to the Commerce Department, the Consumer ...
AUD hits $0.71 for first time since August 2022
The Australian dollar has continued its rise against the USD reaching the highest level in almost 3 months. With risk on assets receiving a boost and the USD weakening the Australian dollar has been a big beneficiary. As hopes for a Federal Reserve pivot increase the greenback has seen aa pullback and growth assets have seen an influx of money. Wit...
Yen well placed ahead of Bank of Japan meeting
The Bank of Japan is set to release its rate decision and policy statement later today in what could shape as an important catalyst for the JPY. The JPY will likely see some increased volatility in the lead up to and as the BOJ announces its rate decision. There is no clear consensus on what the BOJ will do but it ranges from the Bank holding th...
Aussie dollar continues Santa rally into 2023
The Aussie dollar has been on a tear in recent weeks as a weaker USD and thoughts of a pivot in US interest rate hikes has seen the Aussie bounce from its lows near $0.62. The Australian dollar and economy have benefited from the improved strength in commodity prices such as Gold and Iron ore which are important players in Australia’s economy. In...
CHFJPY sees potential bottom and short-term reversal
The JPY had seen some renewed strength after the Bank of Japan finally intervened late in 2022 to widen its target band on its 10-year band to -0.5-0.5% from -0.25-0.25%. This was seen as an overall positive catalyst for the currency and a sign that the Bank may be ready to increase rates. The question that remains is will th...
USDJPY tanks as Bank of Japan adjusts its threshold for intervention
The USDJPY has dropped more than 400 pips in just a few minutes after the Bank of Japan brought adjusted its intervention criteria. The bank did not change its official rate, which are -0.10%, an extremely low figure compared to almost every other country. Japan has been a show of dovishness in a sea of hawkishness. However, this latest move has be...
Is the EUR ready for its next leg down?
The EUR look to be turning after an impressive run. The pair has risen by 12.57%since it hit the bottom in September. At the time the price fell to 0.9525. This was the lowest level the EUR had reached since the year 2000. In September, Europe was facing extreme inflationary pressure and conversely the USD was rocketing towards record high levels. ...
Yuan sees increasing strength as Covid 19 restrictions ease
Yuan sees increasing strength as Covid 19 restrictions ease The USDCNH is an important currency pair not just in terms of pure trading but also in terms of gauging overall market sentiment. The pair is also reflective of much of the macroeconomic pressures effecting the global economy at the moment. This includes but is not limited to, recessionar...
Possible high return Swing Trade on USDCHF
The USDCHF has just reached a significant support zone providing a potential entry for a low-risk high return trade. In recent weeks the USD has an aggressive pulled back on the back of weaker then expected inflation figures. This has benefited the CHF and most other non-USD currencies as expectations of a potential pivot grow and money moves away ...
EUR looking Bullish
The EUR has been on a ‘recovery rally’ since it fell below parity level with USD earlier this year. With inflationary pressures potentially easing across the world the USD has finally taken a breath. The currency which has been haven for many market participants in dealing with the high volatility finally saw a dip after weaker than expected US...
AUDNZD falls from the top of its range
The AUDNZD pair has seen a large drop in the last few weeks and months as the Reserve Bank of Australia has brought about softer interest rate changes then compared to many other countries. Most other countries have dealt with inflation by raising interest rates aggressively. However, the AUD has been the victim of the RBA’s softer stance. The ...
Buying entry forming on EUR/NZD?
The EUR has been rebounding strongly on the back of being sold off for much of the year. With inflation at record highs and a cost of living and energy crisis, the currency has become extremely weak, even dropping below parity with the USD. However, in recent week, the EUR has begun putting in a bottom. The ECB last night decided to raise their off...
GO Markets wins at the International Business Magazine Awards
GO Markets has been announced as the winner of the International Business Magazine Awards in the categories of: Most Trusted Forex Broker Mauritius 2022 Best Forex Broker Mauritius 2022 The winners were decided by a judging panel after the entrants have met the eligibility criteria. A full list of this year’s winners can be foun...
Short term break out on the EURUSD
The EURUSD is showing some signs of a potential short term break out on the daily and 4-hour time price charts. This is largely a technical breakout, although it is also supported by a shift in sentiment towards growth assets and away from the USD in the last week. Technical Analysis The daily cart show...