Yen Surges, Euro Awaits Ifo
Yen surges across the board as traders are unwilling to focus all of the safe haven flows on the US dollar after the Fed renewed its asset purchases. EURUSD bounces off its 200-DMA for the 4th straight day, but failing to close above its 6-week trendline. The quick knee-jerk reaction to 1.2920s resulted by unfounded rumours that Cyprus reached a deal with Russia, but news of Cypriote Fin Min Sarris' return home without any agreement sent euro back down. Euro awaits German IFO survey due at 9 am GMT/London, expected to show 107.8 from 107.4 in the Business Climate index, 110.5 from 110.2 in the Current Assessment index and 105.0 from 10.6 in the Expectations index. A “beat” in the news will be required to sustain EUR above the 1.2880-00 support. GBPUSD nears our Premium target as it creeps towards the Jan 02nd trendline resistance. For thsoe Premium trades, please see our latest Premium Insights.
Copper Broke, Time to Worry?
by Ashraf Laidi | Sep 28, 2023 12:22
Inflection points in Gold إنعطافات الذهب
by Ashraf Laidi | Sep 22, 2023 18:25
GBP Does it again عملها مرة أخرى
by Ashraf Laidi | Sep 20, 2023 13:19
ندوة أوربكس الآن مع أشرف العايدي
by Ashraf Laidi | Sep 19, 2023 18:43
Gold & CPI Scenarios الذهب والسيناريوهات
by Ashraf Laidi | Sep 15, 2023 12:11