David Song

4 days ago | forex.com | David Song

USD/JPY reverses ahead of the May high (148.65) to snap the recent series of higher highs and lows, but data prints coming out of the US may influence the exchange rate as the Personal Consumption Expenditure (PCE) Price Index is anticipated to show persistent inflation.

2 weeks ago | forex.com | David Song |Matt Weller CFA

US CPI KEY TAKEAWAYS: US CPI expectations: 2.5% y/y headline inflation, 2.9% y/y core inflation After falling to 2.3% last month, base effects are likely to increase the year-over-year inflation readings in each of the next two months. The April low around 98.00 in the US Dollar Index is the most important support level to watch, whereas the nearest clear level of topside resistance comes from the descending bearish trend line closer to 99.50. When is the US CPI report?

2 months ago | forex.com | Razan Hilal |Michael Boutros |David Song

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2 months ago | forex.com | James Stanley |David Song |Fawad Razaqzada

Tomorrow brings a rate decision from the European Central Bank with the wide expectation for a 25 bp cut. Despite that expectation EUR/USD has been breaking out over the past two months, setting a fresh three-year high just last Friday. The weekly EUR/USD chart is overbought and sellers had an open door to run a pullback at the start of this week – but they could not get below the 1.1275 Fibonacci level and bulls have since used that price as a springboard from higher-low support.

2 months ago | forex.com | Fawad Razaqzada |David Song |David Scutt

The USD/JPY eased lower as US stock markets wobbled. Technology sector took a hit thanks to sharp falls in Nvidia, AMD and ASML. While trade tensions flared up again, sentiment was not significantly bearish thanks to news, courtesy of Bloomberg, that China may be open to fresh talks — provided President Trump reins in his more hawkish aides and shows respect. It remains to be seen whether talks between the two sides will start soon and whether a trade agreement will be struck.