US Central Bank Governor Jerome Powell reaffirmed that the bank is determined to raise US interest rates further in the future until US prices stabilize.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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The pound has now tumbled against the dollar for 2023 thanks to the sharp drop in February, and some analysts say further declines below 1.20 are possible over the coming weeks.
The price of gold extended its decline after US Central Bank Governor Jerome Powell said in prepared remarks that the Federal Reserve is ready to increase the pace of raising US interest rates if necessary.
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The positive performance of the US dollar currency pair against the Japanese yen USD/JPY culminated yesterday in obtaining a strong and positive momentum for the US dollar.
The Dow Jones Industrial Average slid down during its last trading on intraday levels, to incur sharp losses by -1.72%, to lose about -574.98 points,
Spot natural gas prices (CFDS ON NATURAL GAS) settled down during its early trading on Wednesday, achieving slight daily gains until the moment of writing this report, by 1.02%.
The British pound experienced a back and forth trading session on Tuesday as it struggled to pick up momentum
Gold markets have been struggling lately, and this Tuesday was no exception.
The USD/CAD is trading near the 1.37600 ratio as of this writing, the currency pair has traded above the 1.37700 level earlier in the morning.
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The US dollar is expected to continue its upward momentum against the Japanese yen in the near term, according to recent market analysis.
The GBP/USD initially tried to rally during the trading session on Tuesday but eventually showed signs of hesitation.
The Australian dollar fell sharply during the trading session on Tuesday and is now well below the 0.67 level.
Throughout Tuesday's trading session, the West Texas Intermediate Crude Oil market experienced a back-and-forth movement as it continues to consolidate.
On Tuesday, silver experienced a significant fall in value due to the negative correlation between the US dollar and silver.
The EUR/USD currency pair tried to rally on Tuesday but failed near the 1.07 level, which is a large, round, psychologically significant figure.