22.03.2023: JPY wins luster with investors; USD unable to climb. USDX, USD/JPY, AUD/USD, NZD/USD
26.05.2023: Why USD continues rising? Outlook for EUR/USD and GBP/USD
2023-05-26 16:50 UTC+3
26.05.2023: USD to start correction? Outlook for USDX, USD/JPY, AUD/USD, NZD/USD
2023-05-26 15:33 UTC+3
26.05.2023: Oil traders await clarity on OPEC's next policy move. Outlook for oil, gold, RUB
2023-05-26 15:31 UTC+3
25.05.2023: Germany slides into recession. Outlook for EUR/USD and GBP/USD
2023-05-25 17:53 UTC+3
25.05.2023: US oil crude inventories tumble. Outlook for oil, gold, RUB
2023-05-25 16:12 UTC+3
25.05.2023: Stocks gripped by bearish sentiment; USD resilient to market uncertainty.
2023-05-25 15:11 UTC+3
24.05.2023: Investors unnerved about standoff in debt ceiling talks.
2023-05-24 19:32 UTC+3
24.05.2023: UK inflation slackens, but USD still exerts pressure. Outlook for EUR/USD and GBP/USD
2023-05-24 16:25 UTC+3
24.05.2023: US crude stockpiles fall again. Outlook for oil, gold, RUB
2023-05-24 15:42 UTC+3
24.05.2023: USD to lose momentum due to default fears; outlook for USDX, USD/JPY, AUD/USD, NZD/USD
2023-05-24 15:35 UTC+3
23.05.2023: Optimism fading on Wall Street.
2023-05-23 20:21 UTC+3
23.05.2023: Traders continue to sell off EUR.
2023-05-23 17:38 UTC+3
23.05.2023: Oil steady as US default risk offsets growth drivers. Outlook for oil, gold, RUB
2023-05-23 16:31 UTC+3
23.05.2023: Debt ceiling talks in spotlight; JPY recovers. USDX, USD/JPY, AUD/USD, NZD/USD
2023-05-23 15:31 UTC+3
22.05.2023: Wall Street weighed down by standoff between US and China.
2023-05-22 19:16 UTC+3
22.05.2023: Why traders continue buying USD amid threat of default?
2023-05-22 15:50 UTC+3
22.05.2023: Speculators anticipate results of talks on debt ceiling; USDX, USD/JPY, AUD/USD, NZD/USD
2023-05-22 15:34 UTC+3
22.05.2023: New sanctions package still under review. Outlook for oil, gold, RUB
2023-05-22 15:20 UTC+3
19.05.2023: Wall Street aims to cement optimism.
2023-05-19 20:53 UTC+3
19.05.2023: USD rallies, ignoring overbought conditions. Outlook for EUR/USD and GBP/USD
2023-05-19 16:24 UTC+3
19.05.2023: Oil prices flat as traders await G7 summit. Outlook for oil, gold, RUB
2023-05-19 14:59 UTC+3
Given a tight labor market and higher-than-expected inflation figures for February, the Fed will have to make a very difficult decision. That is why the US dollar moved to a consolidation phase earlier this week. It has been trading in a narrow range of 103.1-103.3 for some time.

It still resists bearish pressure. However, on Wednesday morning, it dipped lower. The US dollar index is moving near a 5-week low of 103.2 versus its main rivals.

Moreover, technical indicators signal a further downward movement. The greenback may enter the horizontal support area of early January between the levels of 102.65 and 102.55. However, it may also advance to the resistance level of 104.25

The yen regained ground following the weakness of the US dollar. However, there was also another strong driver that helped the yen climb.

Chief Cabinet Secretary Hirokazu Matsuno stressed that the government would allocate more than 2 trillion yen from reserves to protect households from rising prices. The joint efforts of the government and the Bank of Japan could boost the yen in the long run. It has been weak in recent months, boosting import prices. In turn, it undermined the standard of living.

Hirokazu Matsuno’s statement bolstered bullish sentiment in the stock market. Financial companies scored the biggest gains. For example, Mitsubishi and Mizuho Financial shares grew by 3%. Sumitomo Mitsui stock advanced by 2.8%. Shares of Keyence, the leading supplier of sensors and measuring devices, increased by 3.2%

Against the backdrop of eased concerns over the banking crisis and positive statements from the Japanese government, the yen rose as a safe haven asset. Its price advanced to 132.5. Even improved risk appetite did not spook the bulls. So, the yen kept moving in the channel of 132.2-132.8.

In the afternoon, the trajectory of the dollar/yen pair will depend entirely on the Fed’s rate decision and Jerome Powell’s speech. If Powell makes hawkish statements, the US dollar may recover. If so, the pair may approach the resistance levels of 133.6 and 134.

The RBA is now less hawkish than the Fed. So, the Fed meeting and Powell’s testimony will inevitably lead to sharp price changes in the AUD/USD pair.

On Wednesday morning, the Aussie was trading in the upward range of 0.6661–0.6705. However, its growth to 0.6691 looks unstable as the US session and the Fed meeting are approaching. The volatility of the Aussie could increase.

In the event of a dovish move by the Fed, the AUD/USD could climb to the resistance level of 0.6712 and Tuesday's high of 0.6726. However, a return to the support levels of 0.6635 or even 0.6600 is more likely.

The prospects of the New Zealand dollar look more dismal given the country’s weakened economy. However, today, the kiwi was able to rise to 0.6217. Bulls and bears are tussling before the Fed meeting. So, the pair consolidated in the range of 0.6172-0.6223.

00:00 Intro
01:31 VIX
01:58 Janet Yellen
02:48 USDX
03:50 USD/JPY
05:50 AUD/USD
06:46 NZD/USD


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Calendar and reviews
Trader’s calendar on May 29-31: Analysts provide gloomy forecasts for China.
Trader’s calendar on May 25 - 26: USD to post gains?
Trader’s calendar on May 22 - 24: USD to remain strong?
Trader’s calendar on May 18 - 19: This week to decide USD's future.
Trader’s calendar on May 15 - 17: USD gains steady ground.
Trader’s calendar on May 11 - 12: USD doomed to sell-offs.
Escolha do Editor
Modern Hong Kong is an Asian top financial centre. Having low taxation it has one of the most ideal economic systems in the world. The government does not interfere in the country’s economy and creates favourable conditions for business start-ups as well as Forex trading. Concentrating the biggest number of medium-sized and big businesses in the Asia, Hong Kong is one of the leading financial centres. InstaForex Company has visited this Asian commercially-vibrant metropolis and presents you this reportage.
Ruslan Makhauri, the winner of the Hummer to a Jammy Fellow campaign: "Thanks to InstaForex, fortune smiled on me" (ShowFx World Exhibition in Moscow)
Trader’s calendar on May 29-31: Analysts provide gloomy forecasts for China.
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