4 Global Market Updates- 6 January, 2023

 

In this article, we have covered the highlights of global market news about the USD/CNH, USD/JPY, EUR/USD and AUD/USD.

USD/CNH: Solid support is aligned around 6.8400 – UOB

For the time being, more losses in USD/CNH shouldn’t be ruled out, according to UOB Group economists Lee Sue Ann and Quek Ser Leang.

24-hour perspective: “Yesterday, we said that the US Dollar is expected to move lower but is unlikely to breach the support at 6.8700. Our prediction came true as the US Dollar fell to a low of 6.8714 before rising. Although the US Dollar may go below 6.8700 today, the next support, around 6.8560, is unlikely to be in sight. The underlying tone still seems weak. A violation of 6.9000 (a minor resistance level at 6.8900) would signal an easing of the slight downward pressure now present.

Read More...

EDGE-FOREX

Comments

Post a Comment

Popular posts from this blog

4 Global Market Updates- 6 February, 2023

  In this article, we have covered the highlights of global market news about the  EUR/USD,  AUD/USD , USD/CHF  and  GBP/USD . EUR/USD Price Analysis: The main support level is breached beyond 1.0760 During a slow Monday morning in Europe, bulls and bears compete to control the  EUR/USD  at 1.0800. The leading currency pair struggles to explain the latest Doji candlestick inside a three-day-old negative channel. However, a convergence of the 200-SMA, the bottom line of the indicated channel, and the 50% Fibonacci retracement level of the January-February gain, at 1.0760, limits the short-term downside of the pair. Bearish MACD signals also tempt EUR/USD sellers. Read More... EDGE-FOREX
Read more

4 Global Market Updates- 11 July, 2022

  In this article, we have covered the highlights of global market news about the  UK Conservative leadership, Fiscal policy, US Dollar , and Natural Gas . Candidates for the UK Conservative leadership present contrasting tax strategies. Jeremy Hunt, a candidate for the UK Conservative leadership, said on Monday that he wants to reduce all taxes. “I can decrease taxes within our present budgetary laws,” Hunt continued. While this is happening, several UK media sites claim that UK Finance Minister Nadhim Zahawi intends to impose 20 percent budget cutbacks across the board to pay for his proposed tax cuts. Zahawi ran for the position of prime minister after Boris Johnson. Read More... forex managed account services   #globalmarket #UK #USD #tax #naturalgas #dollar #forex #trading #trade #edgeforex
Read more

4 Global Market Updates- 22 July, 2022

  In this article, we have covered the highlights of global market news about the Price of Natural Gas, Dollar , Crude Oil Prices and  Gold Price . Futures for natural gas: Further increases seem to be unfavorable On Thursday, open interest in natural gas futures markets decreased by around 3.2 thousand contracts, which was the opposite of the previous increase when advanced prints from CME Group were included. After three days of daily increases, volume followed suit and decreased by roughly ten thousand contracts. Read More... forex factory   #leverage #fxtrading #foreignexchange #trading #forextrading #risk #forexnews #globalmarket #edgeforex
Read more