IC Markets

2023-02-27 07:03:45 The Dollar Index (DXY)
Key news events today
No major news events.
What can we expect from DXY today?
On Friday, the Core PCE price index was released at 0.6% (Forecast: 0.4%). This signaled that inflation growth in the US was higher than expected which is likely to spur further interest rate increases from the US Federal Reserve. Following the news release, the DXY climbed steadily from the 104.65 price level up toward the 105.30 price area. Currently consolidating at the 105 price level, look for the price to retrace briefly before trading higher toward the near term resistance of 105.50.
Central Bank Notes:
Federal Reserve hiked rates by 25bps taking interest rates to 4.75%
Next meeting is on 23 March 2023
Ongoing rate increases will be expected

Next 24 Hours Bias
Weak Bullish Open / Comment

2023-02-26 23:51:10 IC Markets pinned «Join us for our first ever pre-market live analysis starting in 9 minutes!

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2023-02-26 23:51:05 Join us for our first ever pre-market live analysis starting in 9 minutes!


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2023-02-26 00:46:28 Join Desmond in our Pre-Market Analysis where we look at the major news events and technical setups for the week ahead! Happening at 26th Feb 2023, 9pm (GMT)! https://youtube.com/live/H_rsQ_V7Gms?feature=share Open / Comment

2023-02-25 07:38:52 IC Markets pinned «Join Desmond in our Pre-Market Analysis where we look at the major news events and technical setups for the week ahead! Happening at 26th Feb 2023, 9pm (GMT)! https://youtube.com/live/H_rsQ_V7Gms?feature=share» Open / Comment

2023-02-25 06:30:57 Join Desmond in our Pre-Market Analysis where we look at the major news events and technical setups for the week ahead!

Happening at 26th Feb 2023, 9pm (GMT)!

https://youtube.com/live/H_rsQ_V7Gms?feature=share Open / Comment

2023-02-24 07:21:27 The Japanese Yen (JPY)
Key news events today
JPY BOJ Gov-Designate Ueda Speaks
What can we expect from JPY today?
The USDJPY traded higher to reach the 135.40 price area overnight, but the move higher was quickly retraced with the USDJPY trading back in the consolidative range of 134.80. Significant volatility is expected for the Japanese Yen as the market looks toward possible comments from BoJ Governor Designate Ueda regarding his stance on the current monetary policy. A hawkish view and suggestions over possible tightening could see the Japanese Yen strengthen strongly. This could lead the USDJPY to trade significantly lower, down to the 133 round number and key support level.
Central Bank Notes:
Cash rate stands at -0.1%
Expanded range for 10 year JGB yield fluctuations to 0.5%
Next meeting is on 8 March 2023

Next 24 Hours Bias
Weak Bullish Open / Comment

2023-02-24 07:21:07 The Kiwi Dollar (NZD)
Key news events today
No major news events.
What can we expect from NZD today?
Overnight, the NZDUSD failed to sustain a move higher as the strength of the DXY dragged prices lower. As the NZDUSD attempts to break below the 0.62 price level, look for a strong breakout to the downside if the round number support level is breached. Further strength on the DXY could see the NZDUSD trade beyond the 0.62 support level, down toward the next key support level of 0.6075.
Central Bank Notes:
Cash rate stands at 4.75%
Central bank is likely to continue with the current path of rate adjustment
Next meeting is on 5 April 2023
Next 24 Hours Bias
Weak Bearish Open / Comment

2023-02-24 07:20:43 The Australian Dollar (AUD)
Key news events today
No major news events.
What can we expect from AUD today?
The downward pressure continues for the AUDUSD as the price traded lower strongly, breaking below the round number support level of 0.68. If the DXY continues to strengthen, this could see the AUDUSD continue the downtrend and trade significantly lower. Anticipate significantly choppy price action, however, if the price breaks below the 0.6750 price level, the next key support level is at 0.6660.
Central Bank Notes:
Cash rate stands at 3.35%
Future rate rises are expected as RBA targets the 2-3% inflation target.
Next meeting on 7 March 2023
Next 24 Hours Bias
Weak Bearish Open / Comment

2023-02-24 07:20:20 Gold (XAU)
Key news events today
No major news events.
What can we expect from Gold today?
Gold broke out of the previous consolidation with significantly choppy price action as the price spiked down to 1819 and retraced sharply. However, as the DXY continued to strengthen, this has led Gold to break below the key support level of 1820 and is likely to signal further downside pressures. Look for the price to break below 1819.50 price level before Gold could trade down the 1800 round number support level.
Next 24 Hours Bias
Medium Bearish Open / Comment