Top 10 Forex News and Analysis – Feb 20, 2023
USDCAD Analysis
USDCAD is moving in an Ascending channel and the market has reached the higher low area of the channel.
The US says China is considering supplying weapons and ammunition to Russia for the Ukraine war – a claim strongly denied by Beijing. US Secretary of State Antony Blinken said Chinese firms were already providing “non-lethal support” to Russia and new information suggested Beijing could provide “lethal support”. Such an escalation would mean “serious consequences” for China, he warned.
GOLD Analysis
XAUUSD Gold price is moving in the Descending channel and the market has reached the lower high area of the channel.
US Secretary of State Antony Blinken took a helicopter tour of Hatay, one of the provinces worst affected by the February 6 earthquake in southern Turkey and northern Syria, and pledged a further $100m in aid to help the region. The visit came as Turkey ended rescue efforts in all provinces except the two hardest hit by last week’s massive quake that killed tens of thousands of people. US President Joe Biden announced $85m for Turkey and Syria days after the earthquake, which has killed more than 46,000 people in the two countries.
SILVER Analysis
XAGUSD Silver price is moving in a Descending channel and the market has reached the lower high area of the channel.
Hundreds of Syrians living in Turkey have returned to the war-torn country after last week’s devastating earthquake. The Turkish government has allowed Syrians with ID cards from the quake-hit Turkish provinces to leave for up to six months. The rule change has led to hundreds queuing for hours at border crossings. Almost four million Syrians have settled in Turkey since civil war broke out in their home country 12 years ago. Some survivors of last week’s earthquake are making the trip to the crossings in an attempt to reunite with family members back in Syria.
USDCHF Analysis
USDCHF is moving in the Descending channel and the market has reached the lower high area of the channel.
Swiss authorities on Wednesday ruled that it was unconstitutional to permanently confiscate the assets of sanctioned Russians held within the country. Until now, Bern has moved in lockstep with the EU in freezing the assets of high-profile Russians connected to President Vladimir Putin. It currently holds some 7.5 billion Swiss francs ($8.1 billion) in frozen assets. Von der Leyen described the ruling as putting business interests ahead of political justice.
USDJPY 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.
EURUSD Analysis
EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
As Russia’s onslaught in Ukraine approaches its one-year milestone, fears are growing about the Kremlin’s efforts to leverage simmering tensions in a “second battleground.” The Western Balkans, a group of six countries that European Union officials have repeatedly said belong to the European family, comprises Albania, Bosnia and Herzegovina, Montenegro, Kosovo, North Macedonia and Serbia. The promise of EU accession is viewed as the West’s most powerful tool to stabilise and integrate the region.
EURAUD Analysis
EURAUD is moving in the Symmetrical triangle pattern and the market has fallen from the top area of the pattern.
US Secretary of State Antony Blinked said Sunday that China was considering providing weapons including ammunition to Russia in its war against Ukraine. Earlier on Sunday, France said it will begin delivering the armored vehicles it has promised Ukraine by next weekend. European Union foreign policy chief Joseph Borrell said in a speech at the Munich Security Conference that the West must provide more military aid to Ukraine and speed up its delivery. Read our live blog to see how all the day’s events unfolded.
EURCHF 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.
GBPUSD Analysis
GBPUSD is moving in the Box pattern and the market has rebounded from the horizontal support area of the pattern.
European countries should stop hoarding weapon stockpiles and give them to Ukraine to allow Kyiv to make a decisive assault, Rishi Sunak has told the Munich security conference. The British prime minister said Ukraine needed more ammunition, air defense, heavy Armory and longer range weapons, amid frustration in London and Kyiv that some European powers are refusing to hand over arms on the basis they cannot afford to reduce their own defences.
AUDNZD Analysis
AUDNZD is moving in an Ascending channel and the market has reached the higher high area of the channel.
The death toll from Cyclone Gabrielle in New Zealand climbed to 11 on Sunday as thousands of people remained missing a week after the storm struck the country’s North Island. The cyclone hit the island’s northernmost region on Feb 12 and tracked down the east coast, inflicting widespread devastation. Prime Minister Chris Hopkins has called Gabrielle New Zealand’s biggest natural disaster this century. Supply chains were disrupted causing problems moving goods, many crops had been destroyed, and 28,000 homes were still without power.
Top 10 Forex News and Analysis – Feb 20, 2023
USDCAD Analysis
USDCAD is moving in an Ascending channel and the market has reached the higher low area of the channel.
The US says China is considering supplying weapons and ammunition to Russia for the Ukraine war – a claim strongly denied by Beijing. US Secretary of State Antony Blinken said Chinese firms were already providing “non-lethal support” to Russia and new information suggested Beijing could provide “lethal support”. Such an escalation would mean “serious consequences” for China, he warned.
GOLD Analysis
XAUUSD Gold price is moving in the Descending channel and the market has reached the lower high area of the channel.
US Secretary of State Antony Blinken took a helicopter tour of Hatay, one of the provinces worst affected by the February 6 earthquake in southern Turkey and northern Syria, and pledged a further $100m in aid to help the region. The visit came as Turkey ended rescue efforts in all provinces except the two hardest hit by last week’s massive quake that killed tens of thousands of people. US President Joe Biden announced $85m for Turkey and Syria days after the earthquake, which has killed more than 46,000 people in the two countries.
SILVER Analysis
XAGUSD Silver price is moving in a Descending channel and the market has reached the lower high area of the channel.
Hundreds of Syrians living in Turkey have returned to the war-torn country after last week’s devastating earthquake. The Turkish government has allowed Syrians with ID cards from the quake-hit Turkish provinces to leave for up to six months. The rule change has led to hundreds queuing for hours at border crossings. Almost four million Syrians have settled in Turkey since civil war broke out in their home country 12 years ago. Some survivors of last week’s earthquake are making the trip to the crossings in an attempt to reunite with family members back in Syria.
USDCHF Analysis
USDCHF is moving in the Descending channel and the market has reached the lower high area of the channel.
Swiss authorities on Wednesday ruled that it was unconstitutional to permanently confiscate the assets of sanctioned Russians held within the country. Until now, Bern has moved in lockstep with the EU in freezing the assets of high-profile Russians connected to President Vladimir Putin. It currently holds some 7.5 billion Swiss francs ($8.1 billion) in frozen assets. Von der Leyen described the ruling as putting business interests ahead of political justice.
USDJPY 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.
EURUSD Analysis
EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
As Russia’s onslaught in Ukraine approaches its one-year milestone, fears are growing about the Kremlin’s efforts to leverage simmering tensions in a “second battleground.” The Western Balkans, a group of six countries that European Union officials have repeatedly said belong to the European family, comprises Albania, Bosnia and Herzegovina, Montenegro, Kosovo, North Macedonia and Serbia. The promise of EU accession is viewed as the West’s most powerful tool to stabilise and integrate the region.
EURAUD Analysis
EURAUD is moving in the Symmetrical triangle pattern and the market has fallen from the top area of the pattern.
US Secretary of State Antony Blinked said Sunday that China was considering providing weapons including ammunition to Russia in its war against Ukraine. Earlier on Sunday, France said it will begin delivering the armored vehicles it has promised Ukraine by next weekend. European Union foreign policy chief Joseph Borrell said in a speech at the Munich Security Conference that the West must provide more military aid to Ukraine and speed up its delivery. Read our live blog to see how all the day’s events unfolded.
EURCHF 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.
GBPUSD Analysis
GBPUSD is moving in the Box pattern and the market has rebounded from the horizontal support area of the pattern.
European countries should stop hoarding weapon stockpiles and give them to Ukraine to allow Kyiv to make a decisive assault, Rishi Sunak has told the Munich security conference. The British prime minister said Ukraine needed more ammunition, air defense, heavy Armory and longer range weapons, amid frustration in London and Kyiv that some European powers are refusing to hand over arms on the basis they cannot afford to reduce their own defences.
AUDNZD Analysis
AUDNZD is moving in an Ascending channel and the market has reached the higher high area of the channel.
The death toll from Cyclone Gabrielle in New Zealand climbed to 11 on Sunday as thousands of people remained missing a week after the storm struck the country’s North Island. The cyclone hit the island’s northernmost region on Feb 12 and tracked down the east coast, inflicting widespread devastation. Prime Minister Chris Hopkins has called Gabrielle New Zealand’s biggest natural disaster this century. Supply chains were disrupted causing problems moving goods, many crops had been destroyed, and 28,000 homes were still without power.
