Articles written by Ajit Singh - Benzinga

Bottom Fishing Opportunity: CAD/CNH Pair Signals Potential Rebound

| Amidst China’s prolonged economic slump due to the impact of COVID-19, the offshore Yuan (CNH) has experienced significant depreciation against the Canadian Dollar (CAD), creating an enticing bottom-fishing opportunity for investors and traders.

GBP/JPY: A Crucial Turning Point

| The GBP/JPY pair finds itself at a critical juncture as the British Pound has experienced a slight pullback against the Japanese Yen in recent weeks. Although there have been attempts to push higher, the price action is signaling a potential topping pattern, noticeable between June 27th and July 27th, with no significant follow-through.

CNH/INR: Chinese Yuan Set To Rebound Against The Rupee

| The offshore Chinese Yuan (CNH) is showing signs of a potential comeback against the Indian Rupee (INR) as it emerges from the bottom and rises above the 20-period simple moving average (red line). Recently, it has formed higher lows, indicating increasing strength. Currently, it stands at a critical pivot point, and there are indications of a potential breakout to the upside.

EUR/CAD Signals Bearish Trend As Euro Faces Economic Pressure

| The EUR/CAD pair is displaying a compelling technical setup, with a 78.6% retracement and lower highs combined with pivot point resistance providing triple confirmation of an impending depreciation of the Euro against the Canadian Dollar.

INR/JPY: Japan's Inflation Falls Short Of Expectations

|Japan's annual inflation rate in June 2023 rose marginally to 3.3% from May's 3.2%, but fell below market forecasts of 3.5%. While costs increased for various categories such as food, housing, transport, and medical care, fuel, light, and water charges continued to decline for the fifth consecutive month.

USD/CHF - A Promising Bottom Fishing Opportunity Unfolds

| The USD/CHF is currently forming a descending wedge pattern, hinting at a potential turnaround and reversal in its downward trajectory. Over the past nine months, the USD has experienced a steady decline against the Swiss Franc, and it appears to be nearing the end of stage 4, preparing to establish a foundation at Stage 1.

Retail Sales Showdown: Impact On USD/MXN Exchange Rate

| Tomorrow morning brings the eagerly awaited retail sales data for Mexico, a market that has been on a roller coaster ride throughout the year. Experts predict that the upcoming report will likely show a decrease compared to the previous month’s figures.

Inflation Nation: Japan's Decreasing Inflation And Its Political Impact On USD/JPY

| This Friday morning, Japan’s annual inflation rate is set to reveal a fresh decline, catching many off guard, as it unexpectedly dropped to 3.2% in May 2023 from the prior month’s 3.5% peak, missing market forecasts of 4.1%.

Inflation Insights: Unraveling The Impact On GBP And Equity Markets!

| Tomorrow morning, Great Britain awaits a key set of economic releases, including inflation data points, producer price index data points, and retail price index figures. Notably, consumer price inflation in the United Kingdom remained steady at 8.7 percent in May 2023, maintaining the previous month’s 13-month low but surpassing market expectations of 8.4 percent.

Inflation Showdown: Unraveling The Euro's Fate And Impact On Stocks

| Tomorrow morning, the Euro Area’s consumer price inflation rate is set to be unveiled, anticipated to continue its downward trend. However, the magnitude of this decrease will play a significant role in shaping the European Central Bank’s (ECB) approach to future rate hikes.

CAD Inflation Data: Following The US Trend With Potential Slowdown!

|Canadian inflation data is scheduled to be released tomorrow morning EST, and analysts widely anticipate it to reflect slowing inflation. The prior month’s report indicated that Canada’s annual inflation rate dropped to 3.4% in May 2023, compared to 4.4% in the previous month, marking the lowest rate since June 2021.

Crunch Time For The Dollar: Major Macro Data On The Horizon!

| A series of economic data is scheduled for release tomorrow morning EST providing insights into the current state of the consumer and manufacturing industries. Retail sales in the US have been showing a slight uptrend, unexpectedly rising 0.3% month-over-month in May, surpassing prior forecasts of a 0.1% decline.

EUR/INR At Crossroads: An Inflection Point Looms!

| Consumer spending in Europe is experiencing a significant decline, as a combination of inflation andeconomic recession puts pressure on households to cut back on both essential food items anddiscretionary purchases. Europe’s economic recovery is facing challenges due to China’s continued

Australia Central Bank's Meeting Minutes Expected To Strongly Impact AUD/USD, Commodity Prices

|The Reserve Bank of Australia (RBA) meeting minutes are due to be released during the Asia-Pacific market open on Tuesday morning AEST (Monday evening EST). During its July meeting, the RBA decided to maintain its cash rate at 4.1%, following a 25-basis point increase in June. This latest increase marks a total of 400 basis points in hikes since May 2022.

Canada Surprise Rate Hike

| The Bank of Canada raised its overnight rate by 25bps to 4.75% after pausing the previous two meetings. This could cause the Federal Reserve to follow suite next week during its June meeting. The daily and weekly charts are both making defined moves.

AUD Surprise Rate Hike

| Reserve Bank of Australia made a surprise rate hike in its last meeting on Tuesday by 25bp. The Federal Reserve may follow suit in its meeting next week as it faces the same situation with inflation.

DXY At A Major Inflection Point

|The U.S. dollar has mounted a comeback in May bouncing off a double bottom with mixed economic data. There are a variety of macro and technical factors that will guide where the dollar goes from here.

Breaking Down Bitcoin: What Traders Should Watch As BTC Tracks With Nasdaq 100 (QQQ)

|Bitcoin (CRYPTO: BTC) saw a massive fall on Friday to the tune of about 15%, but given its strong correlation with the NASDAQ 100 it’s not surprising to see that when the NASDAQ 100 has a strong directional day or trend, Bitcoin tends to follow suit.

Is Crude Oil Looking To Spoil Lower Or Boil Higher?

|With this week's monthly OPEC report due on Thursday, the price of oil finds itself in a very interesting place. Earlier this year Crude Oil found itself higher due to two primary reasons:

VIX – Time To GIDDY UP!

|The VIX (CBOE: $VIX) has seen a sharp decline since the S&P 500 bottomed in mid-June allowing large money managers to scale up on portfolio allocations that they may have been under invested in July posted very strong returns for the equity markets as a whole, and now in August which is historically a weak month, we’re seeing a bottoming wedge pattern form in the VIX.