Top 10 Forex News and Analysis – Feb 15, 2023
AUDUSD Analysis
AUDUSD is moving in an Ascending channel and the market has reached the higher low area of the channel.
Two back-to-back strong winter storms are expected to bring heavy snow, rain and powerful winds to several parts of the US this week, meteorologists say. The severe weather advisories are partly due to record-high, early spring temperatures in the north-east of the country. Parts of northern Arizona, New Mexico and southern Colorado are already under a winter storm warning. It will also bring possible thunderstorms in warmer regions, particularly around the southern Plains and lower Mississippi valley.
GOLD Analysis
XAUUSD Gold price is moving in the Descending channel and the market has reached the lower low area of the channel.
Russia has held at least 6,000 Ukrainian children, and probably many more, in Russian-occupied Crimea and Russia itself in actions that might constitute a war crime, according to a new study backed by the United States. The children included those with parents or obvious family guardians, those Russia deemed orphans, others who were in the care of Ukrainian state institutions before the invasion, and those whose custody was unclear due to the war.
SILVER Analysis
XAGUSD Silver Price is moving in the Descending channel and the market has reached the lower low area of the channel.
Some 200 buildings were completely destroyed by the 7.8-magnitude earthquake that struck nearby southern Turkey on 6 February. The While Helmets say 517 bodies have been pulled from the rubble there, though another 813 injured survivors have been found alive. The deaths represent almost a quarter of the total reported across the region, where 90% of the 4.6 million population were in need of humanitarian assistance even before the disaster. The UN and the international community failed to deliver any heavy machinery or other specialist equipment.
USDJPY Analysis
USDJPY is moving in an Ascending channel and the market has reached the higher high area of the channel.
Almost 12 years have passed since the strongest earthquake in Japan’s recorded history resulted in a tsunami that killed more than 18,000 people along its north-east coast. There is progress on decommissioning, a process that could take four decades, is being held up by the accumulation of huge quantities of water that is used to cool the damaged reactor cores. Now, 1.3m tons of water, enough to fill about 500 Olympic-sized swimming pools, is being stored in 1,000 tanks that cover huge swathes of the complex. And space is running out.
USDCHF Analysis
USDJPY is moving in an Ascending channel and the market has reached the higher low area of the channel.
While the war may be far from over, observers say that part of its impact will be how it is accelerating unprecedented shifts in Tokyo’s security policy while mitigating public and political opposition to changes in Japan’s defense posture. Tokyo had long said that the regional security situation was deteriorating and that additional steps were needed to defend Japan, particularly amid North Korea’s military provocations and China’s growing assertiveness in both the East and South China seas.
NZDUSD Analysis
NZDUSD is moving in an Ascending channel and the market has reached the higher low area of the channel.
The European Union cannot and will not stump up increasing amounts of new cash to deal with a green subsidy race that’s heating up on both sides of the Atlantic, according to Germany’s top finance official. European Union officials have been embroiled in tense discussions over how to make the region more competitive in the wake of the U.S. Inflation Reduction Act, also referred to as IRA. The American legislation was approved by U.S. lawmakers in August and includes $369 billion in spending on climate and energy policies.
EURGBP Analysis
EURGBP is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
The European Parliament formally approved a law on Tuesday to effectively ban the sale of new petrol and diesel cars in the European Union from 2035, aiming to speed up the switch to electric vehicles and combat climate change. The landmark rules will require that by 2035 carmakers must achieve a 100 per cent cut in CO2 emissions from new cars sold, which would make it impossible to sell new fossil fuel-powered vehicles in the 27-country bloc. The law will also set a 55 per cent cut in CO2 emissions for new cars sold from 2030 versus 2021 levels.
EURCAD Analysis
EURCHF is moving in an Ascending channel and the market has reached the higher low area of the channel.
Ukrainian President Volodymyr Zelenskyy urged Western allies to speed up their military aid for Ukraine, warning attendees at the conference on Friday that delays would play into Russia’s hands as the invasion approaches its first anniversary. The war in Ukraine has dominated discussions at the Munich conference, an annual gathering of security and defence officials from around the world.
About 40 heads of state and government, other politicians and security experts from almost 100 countries are attending the three-day gathering as fears persist that the fighting in Ukraine could generate a new cold war.
GBPCAD Analysis
GBPCAD is moving in the Descending triangle pattern and the market has fallen from the lower high area of the pattern.
The U.K. inflation rate fell for the third month in a row in January to hit 10.1%, below economists’ expectations, but high food and energy prices continued to put the pressure on British households. The largest upward contribution came from housing, gas and electricity, food and non-alcoholic beverages, while the biggest price drops were in transport and restaurants and hotels. While the inflation rate has dropped, it’s important to remember prices aren’t necessarily going to start falling.
CHFJPY Analysis
CHFJPY is moving in an Ascending channel and the market has reached the higher high area of the channel.
Japan said Tuesday it strongly suspects three Chinese spy balloons entered its airspace between 2019 and 2021. Three balloon-shaped flying objects were detected between November 2019 and September 2021, the Japanese Ministry of Defense said, adding that these were strongly presumed to be unmanned reconnaissance aircraft flown by China. The ministry said it had asked the Chinese government to confirm the facts regarding this matter through diplomatic channels and strongly requested that this not happen again.
Top 10 Forex News and Analysis – Feb 15, 2023
AUDUSD Analysis
AUDUSD is moving in an Ascending channel and the market has reached the higher low area of the channel.
Two back-to-back strong winter storms are expected to bring heavy snow, rain and powerful winds to several parts of the US this week, meteorologists say. The severe weather advisories are partly due to record-high, early spring temperatures in the north-east of the country. Parts of northern Arizona, New Mexico and southern Colorado are already under a winter storm warning. It will also bring possible thunderstorms in warmer regions, particularly around the southern Plains and lower Mississippi valley.
GOLD Analysis
XAUUSD Gold price is moving in the Descending channel and the market has reached the lower low area of the channel.
Russia has held at least 6,000 Ukrainian children, and probably many more, in Russian-occupied Crimea and Russia itself in actions that might constitute a war crime, according to a new study backed by the United States. The children included those with parents or obvious family guardians, those Russia deemed orphans, others who were in the care of Ukrainian state institutions before the invasion, and those whose custody was unclear due to the war.
SILVER Analysis
XAGUSD Silver Price is moving in the Descending channel and the market has reached the lower low area of the channel.
Some 200 buildings were completely destroyed by the 7.8-magnitude earthquake that struck nearby southern Turkey on 6 February. The While Helmets say 517 bodies have been pulled from the rubble there, though another 813 injured survivors have been found alive. The deaths represent almost a quarter of the total reported across the region, where 90% of the 4.6 million population were in need of humanitarian assistance even before the disaster. The UN and the international community failed to deliver any heavy machinery or other specialist equipment.
USDJPY Analysis
USDJPY is moving in an Ascending channel and the market has reached the higher high area of the channel.
Almost 12 years have passed since the strongest earthquake in Japan’s recorded history resulted in a tsunami that killed more than 18,000 people along its north-east coast. There is progress on decommissioning, a process that could take four decades, is being held up by the accumulation of huge quantities of water that is used to cool the damaged reactor cores. Now, 1.3m tons of water, enough to fill about 500 Olympic-sized swimming pools, is being stored in 1,000 tanks that cover huge swathes of the complex. And space is running out.
USDCHF Analysis
USDJPY is moving in an Ascending channel and the market has reached the higher low area of the channel.
While the war may be far from over, observers say that part of its impact will be how it is accelerating unprecedented shifts in Tokyo’s security policy while mitigating public and political opposition to changes in Japan’s defense posture. Tokyo had long said that the regional security situation was deteriorating and that additional steps were needed to defend Japan, particularly amid North Korea’s military provocations and China’s growing assertiveness in both the East and South China seas.
NZDUSD Analysis
NZDUSD is moving in an Ascending channel and the market has reached the higher low area of the channel.
The European Union cannot and will not stump up increasing amounts of new cash to deal with a green subsidy race that’s heating up on both sides of the Atlantic, according to Germany’s top finance official. European Union officials have been embroiled in tense discussions over how to make the region more competitive in the wake of the U.S. Inflation Reduction Act, also referred to as IRA. The American legislation was approved by U.S. lawmakers in August and includes $369 billion in spending on climate and energy policies.
EURGBP Analysis
EURGBP is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
The European Parliament formally approved a law on Tuesday to effectively ban the sale of new petrol and diesel cars in the European Union from 2035, aiming to speed up the switch to electric vehicles and combat climate change. The landmark rules will require that by 2035 carmakers must achieve a 100 per cent cut in CO2 emissions from new cars sold, which would make it impossible to sell new fossil fuel-powered vehicles in the 27-country bloc. The law will also set a 55 per cent cut in CO2 emissions for new cars sold from 2030 versus 2021 levels.
EURCAD Analysis
EURCHF is moving in an Ascending channel and the market has reached the higher low area of the channel.
Ukrainian President Volodymyr Zelenskyy urged Western allies to speed up their military aid for Ukraine, warning attendees at the conference on Friday that delays would play into Russia’s hands as the invasion approaches its first anniversary. The war in Ukraine has dominated discussions at the Munich conference, an annual gathering of security and defence officials from around the world.
About 40 heads of state and government, other politicians and security experts from almost 100 countries are attending the three-day gathering as fears persist that the fighting in Ukraine could generate a new cold war.
GBPCAD Analysis
GBPCAD is moving in the Descending triangle pattern and the market has fallen from the lower high area of the pattern.
The U.K. inflation rate fell for the third month in a row in January to hit 10.1%, below economists’ expectations, but high food and energy prices continued to put the pressure on British households. The largest upward contribution came from housing, gas and electricity, food and non-alcoholic beverages, while the biggest price drops were in transport and restaurants and hotels. While the inflation rate has dropped, it’s important to remember prices aren’t necessarily going to start falling.
CHFJPY Analysis
CHFJPY is moving in an Ascending channel and the market has reached the higher high area of the channel.
Japan said Tuesday it strongly suspects three Chinese spy balloons entered its airspace between 2019 and 2021. Three balloon-shaped flying objects were detected between November 2019 and September 2021, the Japanese Ministry of Defense said, adding that these were strongly presumed to be unmanned reconnaissance aircraft flown by China. The ministry said it had asked the Chinese government to confirm the facts regarding this matter through diplomatic channels and strongly requested that this not happen again.
