Mon, Apr 15, 2024

AUDUSD Analysis

AUDUSD is moving in an Ascending channel and the market has reached the higher low area of the channel.

President Biden and his aides have tried to reassure Chinese leaders that they do not seek to contain China in the same way the Americans did with the Soviet Union during the Cold War. But the announcement on Thursday that the U.S. military is expanding its presence in the Philippines leaves little doubt that the United States is positioning itself to constrain China’s armed forces and bolstering its ability to defend Taiwan.

GOLD Analysis

XAUUSD Gold price is moving in an Ascending channel and the market has reached the higher low area of the channel

XAUUSD Gold price is moving in an Ascending channel and the market has reached the higher low area of the channel.

Russian President Vladimir Putin criticises Germany for sending Leopard 2 tanks to Ukraine in a speech to mark the 80th anniversary of the battle of Stalingrad. Ukrainian President Volodymyr Zelenskyy says his country deserves to start European Union accession talks “this year”. German Chancellor Olaf Scholz sees no chance of a negotiated end to the war in Ukraine until Russia agrees to withdraw from occupied territories. Ukraine rejects negotiations until Russian troops have fully withdrawn from Ukrainian territory.

SILVER Analysis

XAGUSD Silver Price is moving in the Descending channel and the market has reached the lower high area of the channel 1

XAGUSD Silver Price is moving in the Descending channel and the market has reached the lower high area of the channel.

The global economy is poised to slow this year, before rebounding next year. Growth will remain weak by historical standards, as the fight against inflation and Russia’s war in Ukraine weigh on activity. Despite these headwinds, the outlook is less gloomy than in our October forecast, and could represent a turning point, with growth bottoming out and inflation declining. Economic growth proved surprisingly resilient in the third quarter of last year, with strong labor markets, robust household consumption and business investment, and better-than-expected adaptation to the energy crisis in Europe.

USDCHF Analysis

USDCHF is moving in the Descending channel and the market has rebounded from the lower low area of the channel 1

USDCHF is moving in the Descending channel and the market has rebounded from the lower low area of the channel.

Swiss lawmakers are mulling the idea of selling their mothballed Leopard 2 main battle tanks to countries like Poland and Germany which are likely to supply their tanks to Ukraine. Switzerland possesses 96 Leopard 2 tanks stored in various locations in the country’s eastern region. However, due to its stance of neutrality, the country’s Federal Council has sternly forbidden the delivery of weapons to a warring nation like Ukraine. Swiss politicians also advocate that the Swiss tanks should not be employed in the Ukraine War.

USDJPY Analysis

USDJPY is moving in the Descending triangle pattern and the market has rebounded from the horizontal support area of the pattern

USDJPY is moving in the Descending triangle pattern and the market has rebounded from the horizontal support area of the pattern.

Low immunity against Covid-19 and a growing population of frail elderly is driving a surge in coronavirus deaths in Japan which had, for a long time, upheld some of the strictest pandemic restrictions. Japan once boasted one of the lowest Covid mortality rates, but the figure has been trending upwards since the end of 2022. It hit an all-time high on 20 January this year, surpassing the UK, US and South Korea. Japan was largely closed to foreign visitors from 2020 till mid-June last year.

EURUSD Analysis

EURUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel 1

EURUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.

The US is tracking a suspected Chinese surveillance balloon that has been spotted flying over sensitive sites in recent days. Defence officials said they were confident the “high-altitude surveillance balloon” belonged to China. It was most recently seen above the western state of Montana. The military decided against shooting it down in case debris falls. China warned against speculation and “hype” until the facts are verified.

GBPUSD Analysis

GBPUSD is moving in the Descending channel and the market has reached the lower low area of the channel

GBPUSD is moving in the Descending channel and the market has reached the lower low area of the channel.

Vivienne Stern, the chief executive of Universities UK group (UUK), has told vice-chancellors that the government was “revisiting ways to reduce net migration”, with the future of the graduate student work visa in the spotlight. The visa allows international students to work for two years after graduation, and has been credited with a huge boost to student recruitment from India and Nigeria since 2021. The economic impact is likely to take on greater urgency after the International Monetary Fund’s forecast that the UK economy is likely to shrink in 2023 and for growth to remain the lowest among industrialised countries into 2024.

GBPCHF Analysis

GBPCHF is moving in the Symmetrical triangle pattern and the market has reached the bottom area of the pattern

GBPCHF is moving in the Symmetrical triangle pattern and the market has reached the bottom area of the pattern.

Switzerland has been booted out of the organisation responsible for planning Europe’s scientific infrastructure needs, throwing into confusion how the continent will coordinate on big new projects. The European Strategy Forum on Research Infrastructures (ESFRI) has ejected the Swiss because the country has not joined Horizon Europe, the EU’s research and innovation programme. Under ESFRI rules, members must be EU states, associated to Horizon, or an EU candidate country.

GBPNZD Analysis

GBPNZD is moving in the Descending channel and the market has reached the lower low area of the channel

GBPNZD is moving in the Descending channel and the market has reached the lower low area of the channel.

Overseas owners of property in the UK face the prospect of financial penalties or prosecution after a deadline passed for them to register with British authorities and declare the identities of their beneficial owners. The register sets the UK on a different course to neighboring nations after the European Court of Justice struck down public beneficial ownership registers for European Union nations. That sparked outcries from transparency advocates.

AUDCAD Analysis

AUDCAD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel 2

AUDCAD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.

The Reserve Bank announced on Thursday that it will not replace the image of Queen Elizabeth on the $5 note with King Charles, but with an image that honours the culture and history of First Australians. Treadell said the UK was “not at all” offended by the move. “It is for Australia to decide what it wants on its coins, and on its notes,” she told ABC radio on Friday.


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