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Forex
USD/KRW rate pressured ahead of Bank of Korea rate decision
November 30, 2023 03:04 AM AEDT| By InvezzThe USD/KRW pair remained under pressure on Wednesday as traders waited for the upcoming Bank of Korea interest rate decision. The pair retreated to a low of 1,290, its lowest point since August 2nd. It has dropped by over 5.30% from the highest poin...
GBP/USD forecast: anticipating a decline as price nears key resistance
November 29, 2023 04:18 PM AEDT| By InvezzGBP/USD chart and technical analysis GBP/USD has been in a bullish trend since last month, however, the price is now approaching a major daily resistance level at 1.27590 from where it will possibly make some correction to the downside. I am expectin...
NZD/USD forecast: signal ahead of the RBNZ rate decision
November 29, 2023 02:45 AM AEDT| By InvezzThe NZD/USD exchange rate continued rising ahead of the closely watched Reserve Bank of New Zealand (RBNZ) interest rate decision. The pair rose to a high of 0.6102, its highest point since August 10th. It has soared by over 5.8% from its lowest poin...
US dollar index (DXY) slips as the fear and greed index turns green
November 28, 2023 12:43 AM AEDT| By InvezzThe US dollar index (DXY) slumped to the lowest point since August 31st as investors focused on the next actions of the Federal Reserve. The index fell to a low of $103.25, which was much lower than the year-to-date high of $107.34. Crude oil and bon...
GBP/USD forex: signal after the hawkish Huw Pill statement
November 24, 2023 11:00 PM AEDT| By InvezzThe GBP/USD pair held quite steady in a low-volume environment as traders reflected on the hawkish statement by Huw Pill. The pair jumped to a high of 1.2566, the highest point since September 5th. It has surged by over 4.45% from the lowest point in...
USD/TWD: Rising wedge forms as Taiwan election jitters rise
November 24, 2023 07:04 PM AEDT| By InvezzThe USD/TWD exchange rate has risen in the past three days as investors react to the ongoing political developments in Taiwan. The pair rose to 31.60 on Friday, higher than this month’s low of 31.30. It remains 2.72% below the highest point this year...
GBP/ZAR: Pound to rand outlook as the rebound continues
November 24, 2023 02:32 AM AEDT| By InvezzThe GBP/ZAR exchange rate continued rising on Thursday after the latest South African Reserve Bank (SARB) interest rate decision. The pair soared to a multi-week high of 23.65, which was about 5.50% above the lowest point this year. SARB decision and...
EUR/GBP signal: Rising wedge forms after UK autumn statement
November 24, 2023 12:55 AM AEDT| By InvezzThe EUR/GBP exchange rate remained in a consolidation phase on Thursday as traders reflected on the encouraging economic data from Europe. They also reflected on the latest UK autumn statement. The pair was trading at 0.8700, lower than this week’s h...
EUR/CZK, USD/CZK: Here’s why the Czech koruna is soaring
November 23, 2023 11:17 PM AEDT| By InvezzThe Czech koruna continued rising against the euro and the US dollar. The EUR/CZK exchange rate retreated to a low of 24.35, the lowest point since October 5th. Similarly, the USD/CZK dropped to 22.30, down from the October high of 23.53. Czech...
EUR/SEK, USD/SEK: Krona outlook after the Riksbank decision
November 23, 2023 10:00 PM AEDT| By InvezzThe Swedish krona moved sideways after the latest interest rate decision by Riksbank. The USD/SEK exchange rate was trading at 10.50 on Thursday, down sharply from the year-to-date high of 11.27. It is hovering at the lowest point since July 23rd. Th...
USD/IDR: Elliot wave pattern points to more rupiah weakness
November 23, 2023 07:02 PM AEDT| By InvezzThe USD/IDR exchange rate moved sideways after the no-surprise interest rate decision by the Indonesian central bank. It was trading at 15,550 on Thursday, higher than this week’s low of 15,377. The pair remains about 2.60% below the highest point th...
GBP/TRY, USD/TRY stuck at record highs ahead of CBRT decision
November 23, 2023 02:37 AM AEDT| By InvezzThe Turkish lira remains at a record low ahead of the upcoming Turkish central bank decision. The GBP/TRY exchange rate was trading at 36 on Wednesday, 61% above its lowest point in January. Similarly, the USD/TRY rate jumped to 28.8, also higher tha...
USD/ZAR: H&S forms ahead of SARB decision as inflation spikes
November 22, 2023 09:00 PM AEDT| By InvezzThe USD/ZAR exchange rate drifted upwards on Wednesday as traders focused on the latest South African inflation data and Federal Reserve minutes. The pair rose to a high of 18.72, higher than this month’s low of 18.12. South Africa inflation data The...
USD/SGD analysis: Vulnerable after Singapore GDP data
November 22, 2023 11:02 AM AEDT| By InvezzThe Singapore dollar rebounded to its highest point since August 4th. The USD/SGD exchange rate retreated to a low of 1.3385, which was much lower than this month’s high of 1.3762. It has retreated by over 7.6% from the highest point this year. FOMC...
USD/ARS: Argentina peso heads to the abyss after Javier Milei win
November 21, 2023 12:17 AM AEDT| By InvezzThe USD/ARS exchange rate surged to its highest point on record as investors reacted to the outcome of the Argentine election. The pair surged to a high of 353.60, which was much higher than the year-to-date low of 172.82. In all, it has jumped by mo...
Germany PPI continues sharp decline; Upcoming Fed Minutes to influence EURUSD
November 20, 2023 06:46 PM AEDT| By InvezzThe newly released producer price index (PPI) data for Germany, Europe’s largest economy, showed a decline of 11.0% YoY for the month of October 2023. This was in line with forecasts published by Investing.com, marking an improvement from last month’...
USD/CNH and USD/CNY plummet as copper and iron ore prices rise
November 18, 2023 04:28 AM AEDT| By InvezzThe renminbi has staged a comeback as investors predict that the Chinese economy has bottomed. The USD/CNH pair crashed to a low of 7.2097, the lowest point since August. It peaked at 7.3655 in September. Similarly, the USD/CNY exchange rate dropped...
GBP/ZAR analysis as UK retail sales, inflation plummets
November 17, 2023 03:03 PM AEDT| By InvezzThe GBP/ZAR exchange rate moved sideways this week as investors reflected on the latest UK inflation, retail sales, and jobs numbers. The pair was trading at 22.80, a few points above this week’s low of 22.38. It has slumped by over 7.7% below the hi...
Silver price could finally break the $23.59 resistance level
November 16, 2023 05:19 PM AEDT| By InvezzXAG/USD chart and technical analysis Silver has attempted 4 times to break the $23.59 resistance bearer in the last two months. However, the price was not able to close above that level. Price once again is attempting to close above this level after...
BTC/GBP, GBP/USD diverge as UK consumer inflation plunges
November 15, 2023 03:02 PM AEDT| By InvezzBitcoin price retreated in the overnight session even as the mood in the market improved. In the UK, the BTC to GBP (BTC/GBP) price dived to a low of 27,953, which was much lower than the year-to-date high of 30,935. It remains over 100% higher than...
