Risk-on sentiment continued to grow during most of last week before souring somewhat Friday with the release of declining consumer sentiment and expectations of higher short-term inflationary pressure in the USA.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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The Hong Kong 50 index is likely to continue going higher after we have seen a very bullish Friday.
The British pound initially pulled back during the trading session on Friday to test the crucial 1.25 level.
During the Friday session, the Canadian Employment Change numbers came out at 90,400 jobs added, much hotter than the anticipated 20,900 expected.
The USD/MXN has sustained lower values as this morning has opened in Forex.
The USD/ZAR is near the 18.41890 ratio as of this writing, but as the day begun the currency pair did touch a depth around the 18.35455 mark.
The GBP/USD pair remained sluggish after last Thursday’s Bank of England (BoE) interest rate decision and the strong UK GDP report.
Bitcoin’s deep slumber continued during the weekend amid a lack of a clear catalyst to propel it higher.
The AUD/USD pair pulled back on Monday morning after an encouraging statement from Australia’s Treasury Department on inflation.
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The ability of the GBP/USD to climb back from lows around the 1.24460 ratio seen on Thursday may spur speculators with a buying interest.
WTI Crude Oil finished the week of trading slight below its starting point last week.
Get the weekly Forex forecast for major currency pairs for the week of May 13-18, 2024 here.
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Sign up to get the latest market updates and free signals directly to your inbox.The US dollar has gone back and forth during the course of the trading session against the Japanese yen on Thursday, as we have seen the weekly Unemployment Claims in the United States surprise to the upside.
Silver rallied significantly during the course of the trading session on Thursday, breaking above the $27.50 level at one point, only before it turned around to show signs of exhaustion.
The DAX in Germany took off to the upside during the trading session on Thursday as we have now broken above the crucial €18,500 level.