ไทม์ไลน์ข่าวสาร forex

The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1011 as compared to the previous day's fix of 7.1016 and 7.2102 Reuters estimates.

WTI prices gain momentum to one-week highs near $79.30 on Friday. Rising demand optimism in China and the ongoing Middle East geopolitical tensions lift WTI prices. The Fed’s hawkish stance might limit the upside of USD-denominated oil. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $79.30 on Friday. The black gold edges higher amid optimism about rising demand in China and the US, the world's two biggest crude-consuming nations. 

China’s crude oil imports rose by 5.45% in April compared to the same month last year, indicating an encouraging improvement in demand, China's official statistics showed on Thursday. The improved China Trade Balance data added to the upside momentum for WTI prices, said Tina Teng, an independent market analyst.

On Wednesday, a decline in oil inventories lifted the black gold. Crude inventories in the US dropped by 1.4 million barrels in the week ending May 3, from 7.3 million barrels built in the previous week, according to the Energy Information Administration (EIA). The market consensus projected that stocks would decrease by 1.4 million barrels.  

Israeli forces massed tanks and opened fire close to built-up areas of Rafah on Thursday after President Joe Biden said the US would withhold weapons from Israel if its forces mounted a major invasion of the southern Gaza city. The ongoing geopolitical tensions and uncertainties in the Middle East are likely to raise concern about oil supply disruptions, boosting WTI prices. 

Nonetheless, the stronger US Dollar (USD), supported by the hawkish stance of the US Federal Reserve (Fed), might cap the upside of the USD-denominated oil for the time being. San Francisco Fed President Mary Daly said on Thursday that uncertainty over the inflation outlook makes policy projections difficult until the Fed gets more clarity. WTI US OIL Overview Today last price 79.29 Today Daily Change 0.09 Today Daily Change % 0.11 Today daily open 79.2   Trends Daily SMA20 81.5 Daily SMA50 81.52 Daily SMA100 78.14 Daily SMA200 79.77   Levels Previous Daily High 79.44 Previous Daily Low 78.57 Previous Weekly High 83.63 Previous Weekly Low 77.76 Previous Monthly High 87.12 Previous Monthly Low 80.62 Daily Fibonacci 38.2% 79.1 Daily Fibonacci 61.8% 78.9 Daily Pivot Point S1 78.7 Daily Pivot Point S2 78.2 Daily Pivot Point S3 77.83 Daily Pivot Point R1 79.57 Daily Pivot Point R2 79.94 Daily Pivot Point R3 80.44    

USD/JPY edges higher to 155.50 in Friday’s early Asian session. Fed’s Collins becomes the latest Fed official to warn rates will likely stay higher for longer. The BoJ’s recent hawkish comments and FX intervention considerations support the Japanese Yen. The USD/JPY pair trades on a stronger note around 155.50 on Friday during the early Asian trading hours. The renewed US Dollar (USD) demand lifts the pair. Nonetheless, the verbal intervention and the hawkish comment from the Bank of Japan’s (BOJ) Governor Kazuo Ueda might cap the downside of the Japanese Yen (JPY) for the time being. 

On Thursday, San Francisco Fed President Mary Daly stated that the central bank may take more time to return inflation to its target as the uncertainty about inflation in the next few months has increased. Other Fed officials this week have also shown they favor keeping rates at their current levels for longer. This, in turn, might lift the Greenback and create a tailwind for USD/JPY. 

Financial markets anticipate the US central bank to keep policy on hold for the rest of the year as it looks for "greater confidence" in inflation, and Fed’s Chair Jerome Powell emphasized that it might take longer than expected to achieve that confidence.” 

On the other hand, BoJ Governor Kazuo Ueda said on Thursday that the central bank will scrutinize the JPY's recent weakness in guiding monetary policy, per Reuters. The hawkish comments have prompted the expectation of an increase in short-term borrowing costs in the coming months, which provide some support to the JPY and drag the USD/JPY lower. 

Additionally, the verbal intervention from Japanese authorities is likely to limit the pair’s upside in the near term. Early Friday, Japanese Finance Minister Shunichi Suzuki said once again that he will take necessary measures regarding foreign exchange if required. USD/JPY Overview Today last price 155.51 Today Daily Change 0.01 Today Daily Change % 0.01 Today daily open 155.5   Trends Daily SMA20 155 Daily SMA50 152.29 Daily SMA100 149.68 Daily SMA200 148.66   Levels Previous Daily High 155.95 Previous Daily Low 155.16 Previous Weekly High 160.32 Previous Weekly Low 151.86 Previous Monthly High 160.32 Previous Monthly Low 150.81 Daily Fibonacci 38.2% 155.46 Daily Fibonacci 61.8% 155.65 Daily Pivot Point S1 155.12 Daily Pivot Point S2 154.74 Daily Pivot Point S3 154.33 Daily Pivot Point R1 155.92 Daily Pivot Point R2 156.34 Daily Pivot Point R3 156.72  

 

 

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}} Japanese Finance Minister Shunichi Suzuki said on Friday that he will closely watch the foreign exchange (FX) move, adding that he will take necessary measures regarding FX if required. Key quotes“Says is closely watching FX moves.”

“Won't comment on FX levels.”

“To take necessary measures regarding foreign exchange if required.”

“To take necessary measures as required.”

“To take appropriate foreign exchange measures without hesitation.”Market reaction The verbal intervention has little to no market reaction to the Japanese Yen (JPY). At the time of writing, USD/JPY is trading 0.07% lower on the day to trade at 155.40.  Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers. This process has exacerbated more recently due to an increasing policy divergence between the Bank of Japan and other main central banks, which have opted to increase interest rates sharply to fight decades-high levels of inflation. How does the differential between Japanese and US bond yields impact the Japanese Yen? The BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supports a widening of the differential between the 10-year US and Japanese bonds, which favors the US Dollar against the Japanese Yen. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.  

EUR/USD climbs into positive territory for the week.Rate cut bets increase on rising US unemployment claims.US consumer sentiment due on Friday.EUR/USD gained ground on Thursday, finding upside on the week after the US Dollar (USD) broadly fell back after rising US Initial Jobless Claims sparked renewed hope of rate cuts from the Federal Reserve (Fed). US Initial Jobless Claims rose to 231K for the week ended May 3, the highest number of new jobless benefits seekers week-on-week since last August. With possible signs of weakness appearing in the US job market, rate-hungry markets pivoted into risk appetite.  At current cut, the CME’s FedWatch Tool shows interest rate markets are pricing in nearly 70% odds of at least a quarter-point rate cut at the Fed’s September rate call. Rate traders are also pricing in 67% chances of a second rate cut from the Fed before the end of 2024.Fed Daly: Considerable uncertainty about inflation over the next three monthsDespite broad-market hopes for Fed rate trims this year, Fedspeak continues to lean into caution. San Francisco Fed President Mary C. Daly noted on Thursday that the inflation outlook remains uncertain, and recent downturns in employment data appear to be low-risk. EUR/USD technical outlook EUR/USD rallied on Thursday as the pair rebounds from the 200-hour Exponential Moving Average (EMA) at 1.0740, sending the pair into the green for the week, up a quarter of a percent from Monday’s early opening bids and testing 1.0790. Daily candlesticks warn of stiff resistance for bullish momentum as EUR/USD approaches the 200-day EMA at 1.0788, and the pair has struggled to develop meaningful momentum, grinding from the last swing low into the 1.0600 handle. EUR/USD hourly chart EUR/USD daily chart EUR/USD Overview Today last price 1.0785 Today Daily Change 0.0037 Today Daily Change % 0.34 Today daily open 1.0748   Trends Daily SMA20 1.0696 Daily SMA50 1.079 Daily SMA100 1.0835 Daily SMA200 1.0794   Levels Previous Daily High 1.0757 Previous Daily Low 1.0735 Previous Weekly High 1.0812 Previous Weekly Low 1.065 Previous Monthly High 1.0885 Previous Monthly Low 1.0601 Daily Fibonacci 38.2% 1.0744 Daily Fibonacci 61.8% 1.0749 Daily Pivot Point S1 1.0736 Daily Pivot Point S2 1.0725 Daily Pivot Point S3 1.0714 Daily Pivot Point R1 1.0759 Daily Pivot Point R2 1.0769 Daily Pivot Point R3 1.0781    

GBP/USD trades with a mild positive bias around 1.2525 amid the weaker USD on Friday. The BoE kept rates unchanged at 5.25% and opened the door to a rate cut sooner than expected.Fed’s Daly said it’s difficult to make projections for policy until the central bank gets more clarity.The GBP/USD pair posts modest gains near 1.2525 during the early Asian session on Friday. The major pair bounces off the lows of 1.2445 after the Bank of England (BoE)’s dovish hold. The attention on Friday will shift to the first reading of the UK Gross Domestic Product (GDP) for Q1 and the US Michigan Consumer Sentiment report. 

The BoE kept its borrowing costs on hold at 5.25% for the sixth meeting in a row on Thursday and signaled that it could begin cutting interest rates as early as next month as inflation is “moving in the right direction.”  The BoE Governor Andrew Bailey stated during the press conference that “a rate cut next month was a possibility.”, but he will wait for inflation, activity, and labor market data before making the decision. The dovish stance from the UK central bank that opened the door to future cuts in interest rates exerted some pressure on the Pound Sterling (GBP) following the monetary policy meeting.

Meanwhile, BoE Chief Economist Huw Pill said that the central bank was more confident that they would consider rate cuts over the next few meetings, although they needed more evidence. Investors have been pricing in two rate cuts this year, with the first expected in August. 

On the other hand, San Francisco Fed President Mary Daly said late Thursday that uncertainty about the next few months of inflation has increased and it may take “more time” to bring inflation down to the central bank’s target. A cautious approach to setting interest rates implied that the current rates will likely stay at their current levels for longer. The divergence of policy between the BoE and the Fed is likely to weigh the Cable and cap the pair’s upside in the near term.  GBP/USD Overview Today last price 1.2528 Today Daily Change 0.0030 Today Daily Change % 0.24 Today daily open 1.2498   Trends Daily SMA20 1.2482 Daily SMA50 1.2604 Daily SMA100 1.264 Daily SMA200 1.2545   Levels Previous Daily High 1.2516 Previous Daily Low 1.2468 Previous Weekly High 1.2635 Previous Weekly Low 1.2466 Previous Monthly High 1.2709 Previous Monthly Low 1.23 Daily Fibonacci 38.2% 1.2486 Daily Fibonacci 61.8% 1.2497 Daily Pivot Point S1 1.2472 Daily Pivot Point S2 1.2446 Daily Pivot Point S3 1.2424 Daily Pivot Point R1 1.252 Daily Pivot Point R2 1.2542 Daily Pivot Point R3 1.2568    

BusinessNZ's New Zealand Performance of Manufacturing Index (PMI) saw an uptick in April, with the seasonally-adjusted figure coming in at 48.9 compared to March's 46.8, but is still lower than February's 49.1. New Zealand's manufacturing sector has been in contraction for 14 consecutive months, though the figures are seeing signs of improvement rather than across-the-board weakness.  As noted by BusinessNZ's Director of Advocacy Catherine Beard, "The key sub-index result of Production (50.8) returned to expansion for the first time since January 2023, as well as Employment (50.8) and Finished Stocks (50.4) also both returning to slight expansion. In contrast, New Orders (45.3) remained firmly in contraction, although showing a slight improvement from March." BusinessNZ Director, Advocacy Catherine Beard continued, "despite the small improvement in April, the proportion of negative comments again increased to 69%, compared with 65% in March and 62% in February. An overall lack of sales and orders was the dominant theme in comments, along with a struggling economy". Market impact NZD/USD is trading thinly into the high side in the early Friday market session, drifting into 0.6040 after finding an intraday floor near 0.5980. About BusinessNZ's PMI The Business NZ Performance of Manufacturing Index (PMI), released by Business NZ on a monthly basis, is a leading indicator gauging business activity in New Zealand’s manufacturing sector. The data is derived from surveys of senior executives at private-sector companies. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), industrial production or employment.The index varies between 0 and 100, with levels of 50.0 signaling no change over the previous month. A reading above 50 indicates that the manufacturing economy is generally expanding, a bullish sign for the New Zealand Dollar (NZD). Meanwhile, a reading below 50 signals that activity among goods producers is generally declining, which is seen as bearish for NZD.

EUR/GBP jostled after BoE rate cote steps towards cuts.Officials from both central banks insist progress is being made.Friday to wrap up the trading week with UK GDP.EUR/USD cycled within familiar levels on Thursday as the pair’s respective central banks compete to reaffirm markets that progress is being made on inflation, and the path towards rate cuts is coming, but not quite yet. The Bank of England (BoE) took one step closer to delivering rate cuts with a 7-to-2 vote on holding rates steady, while talking points from multiple European Central Bank (ECB) officials reiterated the message that inflation will eventually return to ECB target levels. Of the nine voting members of the BoE’s Monetary Policy Committee (MPC), all but two voted to keep rates on hold for another meeting. Markets expected an 8-to-1 vote with Dr. Swati Dhingra broadly expected to be the lone holdout for a single quarter-point cut. Deputy Governor for Markets and Banking Sir David Ramsden joined Dr. Dhingra in voting for a 25-basis-point rate trim, bringing the BoE one step closer to pushing down interest rates. Friday brings a fresh print of UK Gross Domestic Product (GDP), which is expected to return to growth after the previous month’s contraction. Q1 UK GDP is forecast to print at 0.4% QoQ, compared to the previous quarter’s -0.3%. EUR/GBP technical outlook EUR/GBP remains hung up on intraday technical congestion near 0.8600 as 0.8620 threatens to solidify into technical resistance. The pair has been drifting higher, bolstered by the rising 200-hour Exponential Moving Average (EMA) at 0.8582. Daily candlesticks show EUR/GBP scrambling to retake the last swing high above 0.8640 as the pair grapples with keeping aloft above the 200-day EMA at 0.8599. The EUR/GBP has traded higher for all but one of the last eight consecutive days, but a bearish turnaround from here will chalk in another lower high and send the pair back down to long-term consolidation near the 0.8500 handle. EUR/GBP hourly chart EUR/GBP daily chart

The daily RSI for the NZD/USD reveals strong buying momentum, underpinned by rising MACD green bars.Despite slightly weakening green bars on the hourly MACD, the RSI indicates steadfast buying traction near 70.If buyers regain the 200-day SMA, the outlook will turn positive for the pair.The NZD/USD pair is showcasing a strong performance, rising to 0.6032 on Thursday. Despite this, an observed stagnation in hourly advances warrants attention for any short-term shift as indicators reach overbought conditions and buyers might take profits. On the daily chart, the Relative Strength Index (RSI) shows positive momentum. Its latest reading is in positive territory. This, along with the rising green bars of the Moving Average Convergence Divergence (MACD), indicates a market predominately dominated by buyers. NZD/USD daily chart Turning attention to the hourly chart, the RSI still indicates strong buyer domination, hovering around 66. However, the MACD shows decreasing green bars, which could indicate slightly weaker bullish momentum compared to the daily chart. Traders shouldn’t take off the table a slight technical correction ahead of the Asian session. NZD/USD hourly chart Regarding the Simple Moving Averages (SMA) the pair holds above the 20-day SMA but remains below the 100 and 200-day. However, buyers are anticipated to challenge the 200-day SMA at the critical level of 0.6040 which if surpassed, could usher in stronger bullish prospects for the NZD/USD. On the contrary, sellers might step in again if the pair lacks the strength to reconquer the mentioned resistance. NZD/USD Overview Today last price 0.6032 Today Daily Change 0.0028 Today Daily Change % 0.47 Today daily open 0.6004   Trends Daily SMA20 0.5946 Daily SMA50 0.6014 Daily SMA100 0.6095 Daily SMA200 0.6039   Levels Previous Daily High 0.6015 Previous Daily Low 0.598 Previous Weekly High 0.6046 Previous Weekly Low 0.5875 Previous Monthly High 0.6079 Previous Monthly Low 0.5851 Daily Fibonacci 38.2% 0.6002 Daily Fibonacci 61.8% 0.5993 Daily Pivot Point S1 0.5984 Daily Pivot Point S2 0.5965 Daily Pivot Point S3 0.5949 Daily Pivot Point R1 0.6019 Daily Pivot Point R2 0.6035 Daily Pivot Point R3 0.6054    

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}AUD/USD climbs over 0.60% as US unemployment claims hit 231K, exceeding expectations, weakening the dollar.Higher jobless claims contribute to falling US Treasury yields.RBA holds rates; Governor Bullock's comments open to future Cash Rate adjustments.The Australian Dollar rallied against the US Dollar on Thursday, printed gains of more than 0.60%, due to the Greenback remained offered following a softer than expected US jobs report. The AUD/USD trades back above the 0.6600 threshold and gains 0.04% as Friday’s Asian session begins. AUD/USD gains as softer US labor data and falling Treasury yields dampen Greenback’s appeal. US economic data was the main reason behind the poor performance of the American Dollar. The US Bureau of Labor Statistics (BLS) revealed that people filling out forms for unemployment benefits exceeded estimates. Initial Jobless Claims for the week ending May 4 rose to 231K, exceeding the estimates of 210K, and showing an increase from the previous week's figure of 209K. Following the data, US Treasury bond yields dropped, with the 10-year benchmark note rate down almost four basis points to 4.459%. The US Dollar Index (DXY), which measures the buck’s performance against a basket of six currencies, dropped 0.25% and is at 105.23 at the time of writing. It should be said that the latest round of US jobs data revealed in May showed signs the labor market is cooling. According to ANZ Analysts, “The data follow further falls in job openings at the end of March and the April nonfarm payrolls showing the softest growth for seven months. Not too much can be read into one round of data, but the incoming data will be watched very closely for further evidence that US labour market momentum may be slowing.” In the meantime, San Francisco Fed President Mary Daly commented that lowering inflation to the Fed’s target would be a bumpy ride. Daly noted that the last three months of data leave policymakers uncertain about the future of inflation. On the Aussie’s front, the Reserve Bank of Australia (RBA) 's latest monetary policy decision to hold rates unchanged sponsored a leg-down in the AUD/USD despite “not ruling anything ir or our” regarding monetary policy. However, Thursday’s price action lifted the pair to a new three-day high at 0.6621. RBA’s Governor Michele Bullock maintained a balanced tone at the press conference. Regarding rates, she mentioned that "we might have to raise, we might not," indicating the board's contemplation of rate hikes at this meeting. AUD/USD Price Analysis: Technical outlookFrom a daily chart perspective, the pair is neutral to upward biased, despite buyers reclaiming key resistance levels like the 0.6600 figure. Nevertheless, it remains shy of testing the latest cycle high seen at 0.6667, the March 8 high, which could exacerbate a rally toward 0.6700. Once cleared, the next resistance level would be the December 28 high at 0.6871. On the other hand, if sellers push prices below the 100-day moving average (DMA) at 0.6577, subsequent losses are awaited. The next demand level would be the 50-DMA at 0.6535, followed by the 200-DMA at 0.6515. Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.  

Silver rallies, gaining nearly $1.00 to pass $28.00, fueled by falling US Treasury yields and a weaker dollar.Bullish technicals as RSI exceeds 60, indicating room for more upward movement.Resistance levels at $28.49 and $29.00, targeting year-to-date high of $29.79; support at $28.00 and $27.70.Silver prices rallied sharply as US Treasury yields tumbled, and the Greenback weakened as major central banks opened the door to ease policy. At the time of writing, XAG-USD trades at $28.29, up by more than 3.50%. XAG/USD Price Analysis: Technical outlook After consolidating below the latest cycle high of $27.733 witnessed on April 26, the grey metal exploded with close to $1.00 gains, clearing the $28.00 threshold, with bulls eyeing the $28.50 mark. As wrote on May 8, “The Relative Strength Index (RSI) is in bullish territory, indicating that momentum favors bulls,” This means, the precious metal could be headed for further gains, as the RSI just punched above the 60.00 threshold with enough room before turning overbought. If buyers reclaim the 23.6% Fib retracement at $28.49, that could pave the way to test $29.00. Once cleared, the next stop would be the year-to-date (YTD) high of $29.79, followed by the $30.00 figure. On the flip side, if sellers drag Silver below $28.00, the immediate support would be the 38.2% Fib retracement at $27.70, followed by the 50% Fib retracement at $27.05. Once those levels are cleared, up next is the psychological $27.00 figure. XAG/USD Price Action – Daily ChartXAG/USD Overview Today last price 28.33 Today Daily Change 1.00 Today Daily Change % 3.66 Today daily open 27.33   Trends Daily SMA20 27.5 Daily SMA50 26.06 Daily SMA100 24.55 Daily SMA200 23.87   Levels Previous Daily High 27.48 Previous Daily Low 27.01 Previous Weekly High 27.44 Previous Weekly Low 26.02 Previous Monthly High 29.8 Previous Monthly Low 24.75 Daily Fibonacci 38.2% 27.3 Daily Fibonacci 61.8% 27.19 Daily Pivot Point S1 27.07 Daily Pivot Point S2 26.81 Daily Pivot Point S3 26.6 Daily Pivot Point R1 27.54 Daily Pivot Point R2 27.74 Daily Pivot Point R3 28.01