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Mon, Apr 15, 2024

EURUSD Analysis

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

Having missed the first stage of the digital revolution, Europe is now in danger of missing the next big phase: artificial intelligence. This technology is now experiencing explosive growth. The US is leading, followed by China, and this is pretty much it. The German government has commissioned a study on large European AI models, which argues that unless the EU can develop its own technology, it will become dependent on the US, which would also mean dependence on a lower standard of data protection.

USDJPY Analysis

USDJPY is moving in Descending channel and the market has broken the lower high area of the channel.

USDJPY is moving in Descending channel and the market has broken the lower high area of the channel.

On February 2, Japanese Foreign Minister Hayashi Yoshimasa and Chinese Foreign Minister Qin Gang held a 50-minute phone conversation in which they agreed to maintain close communication at all levels and explored how to mend bilateral ties. Hayashi and Qin pledged to work toward constructive and stable relations, despite issues that both ministers pointed out. It was the first conversation between Hayashi and China’s new foreign minister, who took up his post in late December. Previously, Qin was the ambassador to the United States.

USDCAD Analysis

USDCAD is moving in Descending channel and the market has reached the lower high area of the pattern

USDCAD is moving in Descending channel and the market has reached the lower high area of the channel.

The US Air Force finally shot down the Chinese ‘spy balloon’ using its fifth-gen fighter jet, F-22 Raptor, Secretary of Defense Lloyd J. Austin confirmed. Earlier, a second Chinese spy balloon was spotted soaring over Latin America, one day after the US Pentagon revealed that a spy balloon had entered the United States airspace several days ago and was seen floating over Montana. Shortly after the incident was officially reported, a diplomatic showdown began between the two countries.

USDCHF Analysis

USDCHF is moving in Descending channel and the market has reached the lower high area of the pattern

USDCHF is moving in Descending channel and the market has reached the lower high area of the channel.

Switzerland is close to breaking with centuries of tradition as a neutral state, as a pro-Ukraine shift in the public and political mood puts pressure on the government to end a ban on exports of Swiss weapons to war zones. Buyers of Swiss arms are legally prevented from re-exporting them without Swiss permission, a restriction that some representing the country’s large weapons industry say is now hurting trade.

GBPCHF Analysis

GBPCHF is moving in Descending channel and the market has fallen from the lower high area of the pattern

GBPCHF is moving in Descending channel and the market has fallen from the lower high area of the pattern.

Tens of thousands of nurses and nearly 12,000 ambulance workers went on strike Monday over pay and working conditions in the biggest walkout in the 75-year history of Britain’s National Health Service (NHS). The escalating industrial action comes after years of falling wages, stretched budgets, and staff shortages that have left the NHS in a state of crisis, with waiting times for treatment at a record high. At the same time, an aging population needs its services more than ever. More than half of those on the list had been waiting up to 18 weeks, and about 400,000 patients had been waiting more than a year.

GBPAUD Analysis

GBPAUD is moving in Descending channel and the market has fallen from the lower high area of the pattern

GBPAUD is moving in Descending channel and the market has fallen from the lower high area of the pattern.

The Bank of England is starting further research and development work on a digital pound for purchasing goods and services – something that’s likely to be needed in the future, the regulator said Monday. The central bank and the country’s finance ministry want the public to weigh in on its plans for a digital version of the pound sterling and will publish a consultation open to public comment on Tuesday. The U.K. is also busy setting up new regulatory frameworks that set it apart in the region following its infamous exit from the European Union.

GBPNZD Analysis

GBPNZD is moving in Descending Channel and the market has fallen from the lower high area of the channel.

GBPNZD is moving in Descending Channel and the market has fallen from the lower high area of the channel.

New Zealand’s prime minister, Jacinda Ardern, has said she is resigning in an unexpected announcement that came as she confirmed a national election for October. Her term as prime minister will conclude no later than 7 February, but she will continue as an MP until the election this year. Who will replace Ardern is not yet clear. The deputy leader and finance minister, Grant Robertson, who would be considered a frontrunner, said that he would not be seeking the position himself but is excited to know who it may be.

AUDJPY Analysis

AUDJPY is moving in Descending channel and the market has fallen from the lower high area of the channel.

AUDJPY is moving in Descending channel and the market has fallen from the lower high area of the channel.

Australia’s central bank raised its cash rate by 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed in a more hawkish policy tilt than many had expected. Markets were surprised by the hawkish tone of the RBA which shattered any expectations of an imminent pause to the tightening campaign. The futures market has priced in a peak rate of 3.9%, implying at least two more rate hikes in March and April, compared with 3.75% before the decision.

CADCHF Analysis

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

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

Prime Minister Justin Trudeau says Canada stands ready to provide help after a powerful earthquake toppled buildings and killed thousands of people in Turkey and Syria, with the latest estimates of death tolls standing at roughly 2,600 people as of early Monday afternoon. The agency said there are currently 7,513 Canadians registered abroad in Turkey, while 1,394 are in Syria and 1,319 are in Israel. On both sides of the border, residents jolted out of sleep by the pre-dawn quake rushed outside on a cold, rainy and snowy night.

Crude Oil Analysis

Crude oil is moving in Descending channel and the market has reached the lower high area of the channel.

Crude oil is moving in Descending channel and the market has reached the lower high area of the channel.

Russia’s large-scale invasion of Ukraine launched a year ago, changed Europe overnight. It has set in motion tectonic shifts in political and economic relations, disrupting energy markets and upending existing supply chains. It has challenged the very core of the post-World War II European project: peace. The brutal attack on Ukraine has been particularly unsettling for Eastern Europe, which has relatively recent memories of Russian hostility and occupation.


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