USDCAD Analysis
USDCAD is moving in the Descending channel and the market has fallen from the lower high area of the channel.
A dangerous combination of record-setting cold temperatures and powerful winds buffeted the northeastern United States and Canada over the weekend, creating life-threatening conditions and wind-chills from the Arctic blast. The Arctic air reached the region just as a rapid cyclogenesis developed over Labrador and Newfoundland, churning up powerful winds. A cyclogenesis refers to an intensification of a cyclone or low-pressure storm system.
GOLD Analysis
XAUUSD Gold Price is moving in an Ascending channel and the market has reached the higher high area of the channel.
Ukraine’s defense minister says the country is anticipating a new Russian offensive later this month. At a news conference, Oleksiy Reznikov said not all Western weaponry will have arrived by then, but Ukraine had enough reserves to hold off Russian forces. He added that Ukraine had negotiated the supply of new long-range missiles. President Volodymyr Zelensky has said his troops are facing heavy fighting in Bakhmut, Vuhledar, and Lyman in Ukraine’s east. Reznikov said Russia did not have all of its resources ready to launch an offensive but may do so anyway as a symbolic gesture, given the one-year anniversary of Moscow’s full-scale invasion on 24 February.
SILVER Analysis
XAGUSD Silver Price is moving in the Descending channel and the market has fallen from the lower high area of the channel.
Russian forces are attempting to tie down Ukrainian forces with fighting in the eastern Donbas region, Ukraine has said. Moscow is reportedly assembling additional troops there for an expected offensive in the coming weeks, perhaps targeting the Luhansk region. “The battles for the region are heating up,” said Pavlo Kyrylenko, the governor of Donetsk. In Luhansk, fellow governor Serhiy Haidai said shelling there had subsided because “the Russians have been saving ammunition for a large-scale offensive.”
USDJPY Analysis
USDJPY is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
NATO Secretary-General is set to meet Japanese Prime Minister Kishida on an Asian tour that has sparked suspicion in China. The trip comes after the leaders of Japan, South Korea, Australia and New Zealand for the first time attended the summit of the 30-member North Atlantic Treaty Organization last year. The NATO boss has visited an airbase and will give joint remarks with Kishida on Tuesday, as well as making a speech in the city the following day.
USDCHF Analysis
USDCHF is moving in the Descending channel and the market has fallen from the lower high area of the channel.
The volume of trade between Switzerland and Russia has increased since the start of the Ukraine war, despite Swiss sanctions, according to official figures. Exports are dominated by pharmaceutical products, the newspaper reports, with some trade likely catching up from logjams created by the pandemic. In August, Switzerland, which is a major global hub for processing gold, adopted European Union sanctions prohibiting the trade of Russian gold and gold products. But this appears to be having little impact on Russian gold imports.
EURGBP Analysis
EURGBP is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
Members of the European Union Parliament (MEPs) have today adopted a report that seeks to modernize the visa application procedures in the Schengen area by moving from physical applications and visa stickers to a digital system. According to the Parliament of the EU, the report on the digitalization of visa procedures in the Schengen area was adopted with 34 votes in favor, five against, and 20 abstentions. In addition, the same stressed that the digitalization of the visa application process would also ensure consistent practices throughout the EU.
GBPUSD Analysis
GBPUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Ukrainian President Volodymyr Zelenskyy has arrived in the UK to meet Rishi Sunak, the King and Ukrainian troops. He was greeted by the prime minister at Stansted Airport after landing in an RAF plane just before 10.30am on Wednesday for his first visit to the UK since Russia invaded Ukraine in February last year. Shortly after Mr Zelenskyy landed, the UK announced further Russian sanctions, including against six entities providing military equipment.
NZDUSD Analysis
NZDUSD is moving in an Ascending triangle pattern and the market has rebounded from the higher low area of the pattern.
New Zealand is ready to share its experience with Ankara about diplomatic expansion in the wider Asia-Pacific region, according to its top diplomat to Turkey. Türkiye launched the Asia Anew initiative in 2019 to “further enhance its relations with Asia, which is becoming the world’s economic center, in multiple dimensions.” The initiative is seen by experts as a step toward reshaping the future diplomacy of Turkey. This country straddles two continents and “is a bridge between the East and the West.”
CHFJPY Analysis
CHFJPY is moving in the Descending channel and the market has fallen from the lower high area of the channel.
NATO’s chief on Wednesday applauded Japan’s plan to double its defense spending, saying that the pledge reflected the country’s resolve for greater security involvement in a volatile world. For decades, Japan has capped military spending at around 1% of GDP, but late last year Prime Minister Fumio Kishida’s government approved a new security strategy. Rising threats from China and North Korea and Russia’s war on Ukraine have fueled public support for greater military spending in Japan.
AUDCHF Analysis
AUDCHF is moving in an Ascending channel and the market has reached the higher low area of the channel.
King Charles III will not feature on Australia’s new five-dollar note, the country’s central bank has announced. The Queen’s death last year reignited debates about Australia’s future as a constitutional monarchy. The A$5 banknote is the only Australian banknote to carry the image of a British monarch. The late Queen appears on the country’s coins as well, although Australia is transitioning to using an effigy of King Charles III. The decision was welcomed by Aboriginal politicians and community leaders.
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