The USD Index (DXY) remains near its weekly low as expectations grow for further Fed monetary easing. Tuesday’s JOLTS report signaled a cooling US labor market, increasing speculation of rate cuts despite inflation concerns. Global sentiment is positive after President Trump delayed tariffs on Canadian and Mexican imports, easing trade war fears. This risk-on mood weakens the USD’s safe-haven appeal while supporting GBP/USD. However, lingering US-China trade tensions and the Fed’s hawkish stance limit USD losses, keeping GBP/USD gains in check. Traders await Thursday’s BoE policy meeting with key resistance levels at 1.2500, 1.2600, and 1.2650. Support stands at 1.2340, followed by 1.2265 and 1.2100.
https://www.tradingview.com/x/YM6MOBad/ Please, check our technical outlook for CADCHF. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 0.631. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.627 level soon. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
The EUR/USD pair is struggling to sustain its recovery from the 1.0200 area, the lowest since January 13, and is fluctuating near Wednesday’s weekly high around 1.0375-1.0380, showing little change amid mixed economic signals. Tuesday’s JOLTS report signaled a US labor market slowdown, reinforcing expectations of two Fed rate cuts this year. A risk-on mood keeps the USD near its weekly low, supporting EUR/USD, but concerns over potential US tariffs on EU goods and the ECB’s dovish stance, despite a 2.5% YoY rise in Eurozone HICP for January, limit upside potential. Traders await the final Eurozone Services PMI, while the US calendar features the ADP private-sector employment report, ISM Services PMI, and Fed speeches, influencing USD demand. However, Friday’s US NFP report remains the key focus. Technically, resistance levels are at 1.0410, 1.0460, and 1.0515, while support stands at 1.0350, 1.0220, and 1.0180.
Bullish Gartley Meme Coin As always, an idea that needs further multiple confirmations.
The Japanese yen strengthened past 154 per dollar on Wednesday, its highest in seven weeks, as strong wage and services data fueled expectations of a more aggressive Bank of Japan policy. Japan’s real wages rose for a second month in December, with nominal wage growth hitting a nearly 30-year high due to winter bonuses. The January services PMI was revised up to 53 from 52.7. In January, the Bank of Japan raised interest rates and signaled openness to further hikes if economic and inflation trends align. Externally, the yen gained as the US dollar weakened after Washington delayed tariffs on Mexico and Canada, while trade tensions with China eased. Key resistance stands at 155.90, with potential targets at 158.70 and 160.00. Support is at 153.00, followed by 151.90 and 149.20.
Valuations looking fine okay. Nothing exaggerated and quarter-on-quarter growth rates are good. Earnings growth has weakened in recent quarters, but remains strong in the big picture (YoY). Keep an eye on it. Broke out of the cup formation into the trend continuation after the recent earnings. Price and volume still cast doubt on the sustainability of the breakout. There is still a lack of follow-up buying to follow through. However, the price is not really falling back. Consolidates above the breakout from the cup. If the consolidation can be broken by the closing price: - upwards, it would be a buy signal for trend followers, - downwards, then a sell signal and possible correction. --- No advice, just a thought. ;)
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FINRA has fined Apex Clearing Corporation $3.2 million for violations related to its fully paid securities lending program. This marks the first enforcement action under FINRA Rule 4330, which governs the permissible use of customer securities.
Dubai, UAE, 4th February 2025, Chainwire
Dubai, United Arab Emirates, 4th February 2025, Chainwire