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Analytical Forex forecast for today, October 6, for EUR/USD, USD/JPY, NZD/USD & Silver
EUR/USD, currency, USD/JPY, currency, NZD/USD, currency, Silver, mineral, Analytical Forex forecast for today, October 6, for EUR/USD, USD/JPY, NZD/USD & Silver NZD/USD: the RBNZ decision updated the seven-year high in the pairThe New Zealand currency shows a slight strengthening during the Asian trading session, being at the level of 0.5800. The NZD/USD instrument has successfully updated the local maximum of September 23 due to the observant position of traders in the market, but they expect the publication of expanded statistics of the national labor market for September and hope to receive positive factors regarding plans from the US Federal Reserve to further tighten monetary parameters.As expected, following a meeting of officials from the RBNZ (Reserve Bank of New Zealand) on Wednesday, the key indicator was increased by 50 percentage points, and the target value reached 3.5% after eight corrections over the past year, the peak of the indicator of the last seven years was updated to a number. As follows from the statement of the chairman of the financial department Adrian Orr, thanks to the "hawkish" rate, the regulator successfully maintains stable prices and supports the stability of the labor market. Analysts predict an increase in the interest rate at the next stage by another 0.50% following the results of the next meeting of participants of the Reserve Bank of New Zealand, announced for November with a probability of more than 60%.Resistance levels: 0.5800, 0.5850, 0.5900, 0.5938.Support levels: 0.5720, 0.5650, 0.5563, 0.5500.USD/JPY: "American" expects positive incentivesThe US dollar shows an ambiguous trend against the Japanese yen during the Asian trading session, testing the 144.50 mark. Economic data from the United States act as support for the quotations of the US currency, but the bulls are cautious at the level of a record high, since the next stage of currency intervention by the Bank of Japan may be leveled by their achievements.In the previous week, the leadership of the Central Bank indicated the need to monitor fluctuations in the Japanese yen to determine the degree of its pressure on the rate of strengthening of the cost of goods and services. In September, annual inflation fell to 2.8% from 2.9%, against a growing correction of the base value to 2.8% from 2.6%, which allows inflation to exceed the target set by the Japanese regulator at 2.0% four months in a row. The board members remain confident that the crisis in the global economy is able to reverse the downward dynamics of the Japanese currency, which has already lost more than 20% in value this year against the background of hedging by investors of trade risks in traditional "safe" assets. The financial authorities conducted a currency intervention amounting to 2.84 trillion yen, which has not happened since 1998, instantly strengthening the USD/JPY pair, but the potential of the "bulls" was of a short-term nature.Resistance levels: 145.00, 146.00, 147.00, 148.00.Support levels: 144.00, 143.51, 142.54, 141.50.EUR/USD: Upward correction may exhaust potentialWithin the framework of this week, the EUR/ USD currency pair is testing the 1.0000 mark, but earlier it moved to a downward correction.The single currency of the eurozone is under the influence of negative factors against the background of published PMI statistics. So, after negative data from the industry sector, in which the indicator was at 48.4 points, the index for the services sector also decreased, reaching 48.8 points from the previous 49.8 points. A significant negative background, which reflects business activity among the leading sectors of the European economy with increasing pressure from inflation, does not leave economists with hopes of avoiding a recession in the short term.Resistance levels: 1.0009, 1.0131, 1.0253.Support levels: 0.9765, 0.9643, 0.9521.Silver PricesThe quotes of the banking metal are moving in an attempt to recoup the losses that the asset suffered earlier and did not allow the upward dynamics to gain a foothold from September 28. Currently, the asset has reached the level of 20.80 with the prospect of further growth, while waiting for the next incentives to strengthen. As part of the growth in value, silver was able to reach the indicators of the end of June at 21.00 due to the uncertainty of the US dollar, but for further strengthening, silver needs to break through the resistance threshold at 22.60. The precious metal found support in weaker-than-forecast data on the PMI index among industrialists, which provoked a drawdown in the level of US bond yields and a decline in the position of the US currency.Resistance levels: 20.86, 21.20, 21.69, 22.00.Support levels: 20.48, 20.00, 19.74, 19.50. If you are interested in Silver analytics, we recommend you to visit the analytics page, where you can find the latest analytics on Forex from top traders from all over the world. These analytics will be useful both for beginners and professional traders. The Forex signals service makes it much easier for beginners to make their first steps in trading on the financial markets. The latest XAG/USD forecasts and signals contain support and resistance levels, as well as stop-loss ...
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Forex analytical forecast for today, October 3, for USD/JPY, NZD/USD, gold and cryptocurrencies
USD/JPY, currency, NZD/USD, currency, Bitcoin/USD, cryptocurrency, Gold, mineral, Forex analytical forecast for today, October 3, for USD/JPY, NZD/USD, gold and cryptocurrencies USD/JPY: The dollar continues to hold record positionsThe US dollar continued to develop a gradual but steady growth in the Asian trading session, having resumed the testing of the level of 145.00, with the prospect of overcoming it. The U.S. currency continues to be attractive for the market participants in anticipation of the further steps on tightening of the US FRS monetary parameters, announced the day before. It is expected that the regulator plans at least another increase in interest rates by the end of this year, the more so as experts allow for a correction of 1.25%.Japanese regulator prefers to maintain the same position in order to avoid resumption of the past deflationary effects. Earlier the macroeconomic data was published in Japan that increased the negative factors for the national currency. Thus, Tankan index, showing the dynamics of large enterprises in Q3 decreased to 8.0 points from the previous 9.0 points against expectations of the market to strengthen to 11.0 points, and PMI (business activity index) of the manufacturing sector from Jibun Bank Japan decreased to 50.8 points for September from the previous 51.0 points a month earlier against expectations of the growth to 51.5 points.Resistance levels: 145.00, 146.00, 147.00, 148.00.Support levels: 144.00, 142.54, 141.50, 140.78.NZD/USD: The New Zealand currency is moving in a weak corrective growthThe New Zealand dollar is moving within the weak strengthening during the morning session, moderately recovering from the strong losses suffered last week, testing the 0.5633 level. At the end of the previous trading week traders increased demand for the dollar during Friday's trading after reading the Consumer Price Index data, which showed another strengthening. Moreover, the statistics from the United States only supported consumer sentiment. According to the data, the U.S. households in August increased their incomes by 0.3%, which meets the experts' preliminary expectations, while personal expenses went up by 0.4% against decrease by 0.2% in the previous month, while economists expected correction by 0.2% only.The New Zealand currency was put under increased pressure by the statistics from China released the day before. Thus, the volume of approved applications for construction work in New Zealand in August fell by 1.6% from 4.9% the previous month, with the analysts' forecasts of strengthening by 2.0%. Chinese data had disappointed with a strong decline of services PMI for September to 50.6 points against expectations of 52.6 points.Resistance levels: 0.5650, 0.5720, 0.5800, 0.5850.Support levels: 0.5563, 0.5467, 0.5400, 0.5300.Gold pricesThe precious metal is priced at 1660.00, enjoying moderate support amid the uncertainty in the US currency towards the end of the previous week, still leaving the bulls under the influence of negative factors. Moreover, the safe-haven asset continues to remain vulnerable to rising US Treasury yields.There are still probability that gold will resume its downward trend this week, because the world's leading regulators maintain their stance on the necessity to tighten monetary policy. According to reliable data, officials from the Australian Central Bank are expected to meet on October 4 to raise the interest rate to 2.85% from 2.35%. On Wednesday, the New Zealand regulator will adjust its key rate to 3.5% from the current 3.0%. By Friday market participants will expect statements from ECB (European Central Bank) and Bank of England wishing to evaluate regulators' intentions to tighten monetary parameters due to inflation reaching 10.0% in Eurozone countries.Resistance levels: 1675.00, 1688.58, 1700.00 and 1720.00.Support levels: 1653.92, 1640.00, 1620.00, 1600.00.Cryptocurrency analysisThe first cryptocurrency BTC has been holding in the price range of 19800.00-18750.00 for about two weeks. The previous week the altcoin tested the upper resistance level, but the attempts were not successful and the "bears" retook the advantage of the asset.Like the entire digital asset market, BTC continues to be under pressure over the long term. The dominance of hawks at the U.S. Federal Reserve promoting systemic monetary policy tightening, as well as widespread increased interest from regulators in the turnover of funds on crypto markets in the world's leading economies, geopolitical instability and risks of the beginning of recession by region significantly reduce the attractiveness of investment instruments among institutional market participants. In addition, analysts report that the popularity of crypto-assets is losing demand even among traders in the medium and small segments of the market. As reported in the results of Bankrate's survey of American teenagers, in 2022, no more than 30% of respondents showed interest in cryptocurrencies, compared to 50% in 2020. According to experts, earlier interest was due primarily to the rapidly growing value of the tools, allowing investors to quickly earn money, but now the chances for a rapid return decreased many times over.Resistance levels: 19800.00, 21093.75, 21875.00.Support levels: 18750.00, 17800.00, 17187.50, 16900.00. More about Bitcoin tradingIf you are interested in Bitcoin analytics, we recommend you to visit the analytics page, where you can find the latest analytics on Forex from top traders from all over the world. These analytics will be useful both for beginners and professional traders. The Forex signals service makes it much easier for beginners to make their first steps in trading on the financial markets. The latest Bitcoin forecasts and signals contain support and resistance levels, as well as stop-loss ...
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Forex analytical forecast for today, September 28, for EUR/USD, NZD/USD, Crude oil & Gold
EUR/USD, currency, NZD/USD, currency, WTI Crude Oil, commodities, Gold, mineral, Forex analytical forecast for today, September 28, for EUR/USD, NZD/USD, Crude oil & Gold EUR/USD: the U.S. currency is showing an upward trendThe single currency in Europe is actively declining against its major world competitors, which was triggered by the worsening economic situation in the Eurozone.According to the preliminary estimates of analysts from Nomisma Energia, blue fuel prices for end users can increase up to 60% in Q4 and the next electricity price cap will reach 66.6 cents/kWh, which will exceed the previous quarter's cap by 25.0 cents. The Russian natural gas supply chain has once again been exposed to risks following reports of damage and subsequent collapse of the Nord Stream pipeline in Danish territorial waters. According to comments from Nord Stream AG, the operator of the project, critical damage is confirmed, with no known timeframe for fixing it. Against this backdrop, analysts expect Italy's GDP to be revised downward from past forecasts, which could trump a two-fold decline and inflation could reach 10%. Last month, energy prices gained 44.9% against 42.9% last month, foodstuffs gained 10.5% and long-life goods gained 3.9%. The Italian government has already allocated an additional 50.0 billion euros to stabilize the national economy, but these measures are no longer enough.Support levels: 0.9480 and 0.9300.Resistance levels: 0.9670 and 0.9860.NZD/USD: The "New Zealander" made a new record lowThe New Zealand currency is trading in a moderate decline in the Asian session, having updated record lows since spring 2020. At the moment the NZD/USD instrument reached the 0.5600 mark and continues to decline amid an active strengthening of the U.S. dollar position. Market participants continue to expect an increase in interest rates by the U.S. regulator in the future, due to which they refrain from redirecting their own capital to positions of alternative assets, but the risks of an increase in the rate of decline of global GDP are growing, increasing the likelihood of recession in the regions.Previously released data from the U.S. displayed mixed statistics, but can not become a factor in restraint for the U.S. currency. Thus, durable goods orders for August decreased by -0.2%, having preliminary decreased by 0.1% for the previous month, while experts expected -0.4%. Capital goods orders excluding defense and aviation rose 1.3% after earlier strengthening by 0.3% in July, beating analysts' expectations of a slowdown to 0.2%. At the same time, the residential real estate value index was down 0.6% from 0.1%, while experts had expected the index to strengthen positively to 0.7%. However, demand for new residential homes increased 2.28%, down 8.6% for July.Resistance levels: 0.5650, 0.5720, 0.5800, 0.5850.Support levels: 0.5563, 0.5467, 0.5400, 0.5300.Gold pricesThe bank metal is traded under pressure, testing the level of 1623.0, as the US dollar continues to strengthen and has successfully updated its historical high of 115,000 in the USD Index.It is worth noting for the sake of fairness that the structure of precious metal's fall has no physical component, and the decline in value is due to speculative factors and does not reflect investors' capital outflows. The confirmation is the evaluation of gold investment portfolios on the commodity market trading floor. As follows from the publication of data CFTC (Commodity Futures Trading Commission), last week showed a decrease in contracts for gold, amounting to 65.7 thousand against 97.3 thousand the previous week, but studying in detail the dynamics of the decline, the decline was rather due to the active opening of new positions for sale. Producers have 5.097k in the structure of the portfolio, while the number of contracts on demand has strengthened by 4.513k.Support levels: 1600.0, 1550.0.Resistance levels: 1650.0, 1700.0.Oil market reviewThe price of WTI crude oil is under little pressure in the Asian trading session, reaching the 77.00 level, approaching the annual low.The probability of recession in the world economy is a negative factor for the asset, and macroeconomic data and comments of officials of leading regulators only fuel fears among investors. Market participants were also worried by reports that the eurozone countries are considering imposing a cap on the cost of raw materials for supplies from Russia, which increases the risks of a complete halt to oil imports from Russia to the world markets. The ongoing release of oil from reserve storages in the USA only aggravates already unfavorable situation for the raw material. According to The Wall Street Journal, the national stockpile last week fell to its lowest level since 1984, totaling 427.0 million barrels.Resistance levels: 78.00, 79.24, 81.00, 83.00.Support levels: 76.00, 74.00, 73.00, 72.00. More about EUR/USD tradingIf you are interested in EUR/USD analytics, we recommend you to visit the analytics page, where you can find the latest analytics on Forex from top traders from all over the world. These analytics will be useful both for beginners and professional traders. The Forex signals service makes it much easier for beginners to make their first steps in trading on the financial markets. The latest EUR/USD forecasts and signals contain support and resistance levels, as well as stop-loss ...
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Forex analytical forecast for today, September 23, for GBPUSD, USDCHF, USDJPY & NZDUSD
GBP/USD, currency, USD/CHF, currency, USD/JPY, currency, NZD/USD, currency, Forex analytical forecast for today, September 23, for GBPUSD, USDCHF, USDJPY & NZDUSD GBP/USD: Pound is near a record lowThe British currency ended the trading week with a weak downtrend, being at a record low. GBP/USD reached 1.1230 at the time of writing within the descending trend due to the US Federal Reserve's decision to raise the interest rate by 75 basis points. After the correction the index was strengthened to the range of 3.00-3.25%. Following economists' expectations, by the end of 2022 the value may rise to 4.40% against preliminary estimates of 4.25%, and by the end of 2023 to 4.60% against forecasted 4.50%. Subsequent stages of monetary tightening will increase pressure on economic sectors and slow national GDP growth to 0.2% by the end of this year and to 1.2% by next year.Resistance levels: 1.1300, 1.1349, 1.1404, 1.1478.Support levels: 1.1210, 1.1140, 1.1060, 1.1000.USD/CHF: The US dollar is strengtheningIn the APAC trading session, the USD/CHF is approaching resistance at 0.9800.Pressure on the growing U.S. currency was put by the outcome of the NBS (Swiss National Bank) meeting. According to preliminary estimates, the regulator announced an increase in the key indicator by 0.75%, which strengthened the target value to 0.50% from -0.25%, where the indicator has remained without correction since 2014. Economists note that the NBSH was the latest to embrace a marathon of monetary tightening among eurozone central banks because of the onslaught of record global inflation. As follows from the accompanying statements, the regulator reserves the right to raise the interest rate systematically in the face of rising inflation.Resistance levels: 0.9807, 0.9868, 0.9930, 1.0000.Support levels: 0.9762, 0.9700, 0.9650, 0.9600.USD/JPY: The Japanese currency has gained groundEarlier USD/JPY had fallen significantly and at the beginning of the session managed to renew a new record high, getting close to the level of 146.00.Positions of the "Japanese" showed quite a significant strengthening due to the interventions of the Japanese regulator. Such a decision had not been made since 1998, however the agency had expressed fears of a sharp rupture of the yen against the US dollar several times before. However, after a two-day meeting the regulator's officials decided to leave the key figures at negative -0.1%. Moreover, the Central Bank of Japan said they do not expect a correction in value; instead they are going to maintain a wait-and-see attitude in the hope that global inflation will soon run out of steam.Resistance levels: 142.54, 144.00, 145.00 and 146.00.Support levels: 141.50, 140.78, 139.67, 138.50.NZD/USD: The New Zealand economy remains under pressureThe stabilization of the U.S. currency has caused the NZD/USD pair to drop to 0.5826, near the yearly low of 0.5800.The central factor weighing on the currency pair was the trade deficit in the New Zealand economy, the trade balance for August was -12.280 billion dollars against the previous figure of -11.970 billion dollars, having lost $2.447 billion on the month. Also a key driver is denoted by a further increase in the price of imported goods, which has already reached $7.93 billion in August against $7.76 billion the day before. Export volumes slumped to $5.48 billion from $6.35 billion in the previous period. Leading the price increase was imported fuel, strengthening by $462 million, or 79%.Support levels: 0.5800 and 0.5650.Resistance levels: 0.5900, 0.6030. If you are interested in NZDUSD analytics, we recommend you to visit the analytics page, where you can find the latest analytics on Forex from top traders from all over the world. These analytics will be useful both for beginners and professional traders. The Forex signals service makes it much easier for beginners to make their first steps in trading on the financial markets. The latest NZD/USD forecasts and signals contain support and resistance levels, as well as stop-loss ...
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Dollar falls, losing support from US government bonds
USD/CAD, currency, USD/JPY, currency, NZD/USD, currency, US Dollar Index, index, Dollar falls, losing support from US government bonds The dollar fell against the Canadian dollar and hovered near multi-month lows against European currencies on Tuesday as Treasury bond yields were little moved amid expectations the US Federal Reserve will not raise interest rates in the near future.Dallas Fed President Robert Kaplan reiterated on Monday that he does not expect interest rates to rise until next year, lowering expectations that inflationary pressures could force the Fed to change policy sooner than stated.Read more: Causes of inflation and scientific approaches to their studyThe yield on 10-year US Treasury bonds stood at 1.6454%, continuing a decline from last week's five-week high.The dollar index to a basket of six major currencies was down 0.19% to 89.991 by 09:34. The euro rose 0.25% to $1.2181, close to its lowest level since February 26. At the same time, the pound rose 0.31% to $1.4178. The British currency was supported by the lifting of coronavirus restrictions in the UK.The Canadian dollar rose 0.31% against the US dollar to $1.2029, almost hitting a six-year high, thanks to higher oil prices. "The Aussie rose 0.46% to $0.7799. The New Zealand dollar rose 0.58% to $0.7242.The mainland yuan rose 0.2% to 6.4257. The Japanese yen rose 0.1 per cent paired with the dollar, to 109.08 yen.In the cryptocurrency market, bitcoin rose 3.81% to $45.255 but remained near a three-month low following tweet from Tesla CEO Elon Musk. Etherium rose 7.58% to $3,529.95, recovering from a two-week low hit on Monday.Read more: The history of Federal Reserve (Fed) and its ...
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