USD/MXN: Short-term price action to remain between 20.12/20.00 and 21.00 – Societe Generale
Source Fxstreet
USD/MXN carved out an interim high near 21.28 earlier this week and re-integrated within its multi-month range; this denotes lack of steady upward momentum, Societe Generale’s FX analysts note.
MACD experiences crisscross moves around its trigger line
“This is also highlighted by the daily MACD, which has turned flattish and has experienced crisscross moves around its trigger line. Short-term price action could remain within a range defined by limits at 20.12/20.00 and 21.00; a break beyond one of these bands is essential to confirm a directional move.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their weekly gains on Friday as traders await the US Nonfarm Payrolls (NFP) report for the next directional catalyst.
Yen hits one-month high on BOJ September-hike bets; AUD/JPY cracks support as carry unwindsUSD/JPY has tumbled from the 160 area to a one-month low near 155.2 in two sessions as Bank of Japan hike bets for the Sept 17-18 meeting intensify. AUD/JPY has broken below 112.7, flagging carry-trade stress. A test of 155.21 - and then 153 - is now in focus.
USD/JPY has tumbled from the 160 area to a one-month low near 155.2 in two sessions as Bank of Japan hike bets for the Sept 17-18 meeting intensify. AUD/JPY has broken below 112.7, flagging carry-trade stress. A test of 155.21 - and then 153 - is now in focus.
Gold rebounds above $4,450 as Waller tempers Fed rate hike bets ahead US jobs dataGold price (XAU/USD) gains momentum to around $4,470 during the early Asian session on Friday. The precious metal extended its recovery as Federal Reserve (Fed) rate hike bets ease. All eyes will be on the US August Nonfarm Payrolls (NFP) report, which is due later on Friday.
Gold price (XAU/USD) gains momentum to around $4,470 during the early Asian session on Friday. The precious metal extended its recovery as Federal Reserve (Fed) rate hike bets ease. All eyes will be on the US August Nonfarm Payrolls (NFP) report, which is due later on Friday.
Gold is back above $4,400 after weak ADP data cut September rate-hike odds to ~58%. XAU/USD rebounded from Wednesday's $4,282 low; Friday's NFP is the next catalyst.
US August Nonfarm Payrolls Preview: Will the Labor Market Quell Fed Rate Hike Expectations? US Stocks, Dollar, and Gold Face Key TestThe U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report at 8:30 a.m. ET on September 4. Following hawkish signals delivered by Fed Chair Warsh at Jackson Hole
The U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report at 8:30 a.m. ET on September 4. Following hawkish signals delivered by Fed Chair Warsh at Jackson Hole
Related Instrument
