FX

The Japanese Yen weakens across the board after BoJ announced its policy decision.  A shortlived spike in the Yen may be testament to an attempt by the Japanese authorities to intervene. US PCE Price Index shows higher-than-expected inflation but does little to impact USD/JPY which almost touches 157.00. The Japanese Yen (JPY) plummets to a

Gold price faces selling pressure near $2,350 as US Dollar rebounds. Higher US core PCE inflation data has prompted the US Dollar’s recovery. Market expectations for the Fed delaying rate cuts remain firm. Gold price (XAU/USD) falls from $2,350 in Friday’s early New York session as the United States annual core Personal Consumption Expenditure Price Index (PCE) data for

Following his meeting with US Secretary of State Antony Blinken early Friday, China’s Foreign Minister Wang Yi said that the Sino-US “relationship has stabilized but negative factors are building.” Additional comments Sliding into conflict with the US would be a lose-lose situation. We urge the US not to interfere with China’s internal affairs. In response,

It’s been a surprising week for the markets. Firstly, the US tech giants did not impact the markets as a unified block with the market favouring Tesla’s results over those from Meta, which is on track to record a deep decline on Thursday. Second, M&A activity in the UK market, which is propelling the FTSE

WTI edges lower to $82.45 on Thursday as the fear of wider war in the Middle East eased.  Higher bets that the US Fed will delay rate cuts support the Greenback.  US commercial crude stockpiles last week fell by 6.368 million barrels, the largest drawdown since mid-January.  Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 on

The Pound Sterling struggles to hold recovery, driven by upbeat preliminary S&P Global/CIPS PMI report for April. Investors speculate that the BoE will shift to rate cuts in June or August meeting. BoE Haskel wants to see more slack in labor demand to gain confidence that inflation will sustainably return to the 2% target. The Pound Sterling

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The US Dollar steadies after a step back earlier as the Euro’s recovery weighs on the Greenback.  Surprisingly upbeat PMI data from France, Germany and the Eurozone trigger substantial strength in the Euro. The US Dollar Index eases and snaps below 106.00.  The US Dollar (USD)  is a touch softer on  Tuesday ahead of US

WTI loses momentum to nearly one-month lows of $82.00 on Tuesday. Easing tensions between Israel and Iran limits the WTI’s downside.  A large build in the US stockpile in recent weeks and a hawkish Fed weigh on the black gold. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.00 on Tuesday. The black gold edges lower on

Gold price drops as investors see no immediate escalation in Israel-Iran tensions. Fizzling Fed rate cut prospects combined with easing geopolitical fears weigh on Gold. Fed’s Goolsbee said progress in taming inflation has stalled. Gold price (XAU/USD) dips vertically after failing to recapture the crucial resistance of $2,400 in Monday’s early American session, driven by less

Gold price trades on a softer note near $2,385 on Monday.  The hawkish shift in market sentiment could dampen demand for yellow metal.  The rising conflict between Israel and Iran might lift the gold price.  Gold Price (XAU/USD) attracts some sellers around $2,385 on Monday during the early Asian trading hours. The hawkish comments by Federal

The daily RSI for the NZD/USD reveals growing selling pressure, nearing oversold conditions. The hourly indicators also remain weak. The pair will close a 0.80% losing week. The NZD/USD pair saw a 0.25% loss on Friday’s sessing and continues exhibiting a significant bearish tendency. Both short-term and long-term outlooks suggest the prevalence of sellers, which

DXY Index demonstrates slight losses yet sustains near early November highs. The downward movements may be seen as buyers running out of momentum. Hawkish bets on the Fed and a sour market mood may limit the losses. The US Dollar Index (DXY) is currently trading at 106.09, a mild loss from its recent peak of

Gold price trades close to $2,400 amid worsening geopolitical tensions. The US Dollar’s upside stalls as investors see other central banks postponing rate cut plans. US bond yields are down despite the Fed maintaining a hawkish stance. Gold price (XAU/USD) faces pressure to recapture new all-time highs around $2,430 in Friday’s early New York session. The

Federal Reserve Bank of Chicago President Austan Goolsbee argued on Friday that it would make sense to wait to get more clarity on the inflation outlook before taking a policy step. Key takeaways “Progress on US inflation has stalled.” “Fed’s current restrictive monetary policy is appropriate.” “Proper Fed policy going forward will depend on the

Oil turns red for this Friday with markets writing off Middle Eastern tensions during APAC session. WTI Oil prices retreat from $85.00, while Brent dips below $90. The US Dollar Index eases as well on a turnaround from safe haven inflows earlier on the back of headlines.  Oil prices are dropping lower with markets having

AUD/USD falls following hawkish signals from Fed officials, emphasizing no immediate rate cuts. US economic indicators strengthen, with the Philadelphia Fed Manufacturing Index hitting a new high since April 2022. Australian employment data disappoints, with job losses and a slight increase in the unemployment rate casting shadows over RBA forecasts. The Aussie Dollar is on

The Mexican Peso consolidates after strengthening temporarily on Banxico Heath’s comments.  USD/MXN forms a bullish Pennant price pattern on the 4-hour chart.  The economic growth outlook for Mexico gets downgraded.  The Mexican Peso (MXN) traces a flat line on most charts on Thursday, as traders digest the previous day’s gains prompted by comments from Banxico