NZD/USD Technical Analysis: Charting an inverse head-and-shoulders

NZD’s recovery from post-CPI low of 0.6750 could end up creating an inverse head-and-shoulders pattern with neckline resistance of 0.6795.  A break above the neckline would open doors to 0.6865 (target as per the measured move method). Hourly chart Spot Rate: 0.6775 Daily High ...

China State Planner: China has ample policy room to deal with shocks

China State Planner is out on the wires stating the world's second-largest economy has ample policy room to deal with uncertainties in the global economy.  Key quotes (Source: Reuters) Will provide targeted help to firms impacted by Sino-US trade tensions.  China will be able t ...

Gold review: risk reversals hit 6.5-month low ahead of Powell testimony

Gold risk reversals show put demand is strongest since Dec. 29.  The yellow metal is holding just above 50-month MA, eyes Powell testimony. Gold one-month 25 delta risk reversals fell to -0.55 today - the lowest level since December 29, highlighting strong put demand ahead of Fed’ ...

AUD/JPY Technical Analysis: Aussie hesitating after RBA dovish minutes

The Aussie is resuming to strike a weaker tone in early Tuesday action after the RBA towed the regular line of wait-and-see, noting high household debt and sluggish wage growth. The AUD/JPY's current bull run on higher timeframes could be softening up ahead of a bearish turnover. Dail ...

USD/CNH Technical Analysis: Pennant pattern seen on hourly chart

The USD/CNH hourly chart shows a pennant pattern.. An upside breakout would mean continuation of the rally (or sell-off in offshore Yuan exchange rate) and would allow a break above the recent high of 6.7292. A technical correction would gather pace if the pennant is breached to the downside ...

RBA Meeting Minutes: next rate move likely up if economy hits expectations

The Reserve Bank of Australia (RBA) has dropped the latest release of the central bank's Meeting Minutes, and the RBA has maintained their steady policy stance of waiting for further economic improvement within Australia, while they continue to middle on their calls for the next rate hike ...

CNY is undervalued, but with a caveat attached – ANZ

According to analysts at ANZ, the Chinese Yuan and other Asian currencies are being hit by the worsening trade tensions between the US and China, and the bank suggests that the gap between the USD and CNY is due to close, but only if trade tensions are relaxed. Key quotes "The escalation o ...

China House Price Index rose from previous 4.7% to 5% in June

Asian Stocks Slide as Traders Shift Focus to Earnings

Investing.com – Asian markets slid in morning trade on Monday following a mixed close in the U.S. as traders shifted their focus to corporate earnings. Overnight, The Dow Jones Industrial Average rose 0.2%, while the S&P 500 and the Nasdaq Composite slipped 0.1 and 0.3% respectively as ...

Morgan Stanley calls for a weaker USD heading into late 2019

Morgan Stanley (MS) analysts largely expect the USD to wind up on the weak side heading into the next 12 months, and their USD-short stance shows in their projection ranges heading towards 2019's third quarter MS sees the USD/JPY between 88.00 - 101.00, while the EUR/USD is expected to hi ...

USD/JPY: bulls not throwing in the towel, just yet, testing 50hr SMA

USD/JPY bulls are advancing on thin ice in Tokyo.  We have yet further key events this week, which are sure to keep traders alert and not fully positioned one way of the other.  USD/JPY is currently testing the upside in Tokyo, with bulls reluctant to completely throw in th ...

USD/JPY Technical Analysis: Dollar bumping higher heading into Tuesday

The Dollar is seeing some lift heading into Tuesday's action. Another speech from the US Fed's Powell is due for Wednesday, and Greenback bulls are looking forward to another showing from the head of the key central bank. Last week's lift may have sent the pair into a new recen ...

USD/CNY fix projection: 6.6826 – Nomura

Analysts at Nomura offered their model's outlook for today's fix. Key Quotes: "Our model1 projects the fix to be 68 pips higher than the previous fix (6.6826 from 6.6758) and 12 pips lower than the previous official spot USD/CNY close of 6.6838. The basket implied change is 14 pip ...