FX

USD/JPY witnesses heavy selling for the fourth straight day and drops to a one-and-half-month low. The USD selling bias, the narrowing of the US-Japan yield differential continue to exert pressure. Ascending trend-line breakdown now supports prospects for a further near-term depreciating move. The USD/JPY pair witnessed some selling pressure for the fourth successive day on

Gold price is set for a fresh upside rally after breaching the demand zone in a $1,768.32-1,772.22 range. A higher US PCE print indicates that rising interest rates are failing to slow down the inflation rate. The US ISM Manufacturing PMI is expected to remain lower at 52 vs. 53 reported earlier. Gold Price (XAU/USD)

GBP/USD extends its gains to two straight weeks, gains some 1.49%. From a daily chart perspective, the GBP/USD is still downward biased, facing solid resistance around 1.2200. GBP/USD Price Analysis: Unless buyers reclaim 1.2245, the pair remains tilted downwards. The British pound finished the week on the right foot and recorded its second consecutive week

The three major US equity indices advanced between 0.97% and 1.88%. A risk-on impulse since last Wednesday underpinned US equities, lifted by US corporate earnings of Amazon and Apple. The US Dollar Index fell below 106.000, while the US 10-year T-note yield finished around 2.654%. US equities finished the week on a higher note, as

US dollar loses momentum late on Friday amid lower US yields. EUR/USD practically flat for the week remains sideways. Price keeps moving below 1.0260 and supported by 1.0100. The EUR/USD printed a fresh daily low during the American session at 1.0145 and then rebounded back above 1.0200, amid lower US yields and higher equity prices in

Some of the shine has been taken of the strong US dollar but case for more sustained and deeper sell off is not yet compelling, explained analysts at MUFG Bank. They consider that global growth fears are supportive for the greenback. They added the Federal Reserve policy pivot is not yet sufficiently dovish.  Key Quotes:

Amazon stock advanced more than 5% on Wednesday. AMZN Q2 earnings are expected after the close on Thursday. Amazon has missed four revenue forecasts from Wall Street in a row. UPDATE: Amazon reported a loss of $-0.20 per share on revenue of $121.2 billion for the second quarter. The bottom line missed the expected $0.12

What you need to take care of on  Friday, July 29: Thursday was another volatile day, with financial markets struggling for direction. The dollar remained under pressure during Asian trading hours, resurged during the European session and came again under pressure in the American afternoon. The greenback’s intraday advance could be attributed to renewed recession-related

In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, NZD/USD could revisit the area north of the 0.6300 yardstick in the next weeks. Key Quotes 24-hour view: “NZD dropped to 0.6192 before rising to a high of 0.6261 during NY session. Upward momentum has improved slightly and NZD

AUD/USD bulls move in on a dovish tilt at the Fed.  The bulls have broken a key daily resistance level and eye space in the 0.7000s ahead of the RBA. AUD/USD is moving through a critical level on the daily chart (see below) and has reached a high of 0.7000 following a dovish outcome at the

Today’s instrument is Meta Platforms Inc.‘s stock traded on the Nasdaq exchange under the ticker META. When we look at the META‘s chart, we can see that it is traded close to its lowest level at around $159.20. Today we could expect it to stay above its support level which is located at around $154.30

NASDAQ:MULN plummeted on Tuesday’s trading session amid a worsening mood. EV stocks were mostly trading lower as Tesla cooled off to start the week. Canoo announces its quarterly earnings date after officially signing on with WalMart. Update: NASDAQ:MULN collapsed on Tuesday, ending the day at $0.87 per share after losing 14.36%. Financial markets suffered from

Analysts at TD Securities (TDS) offer their outlook on the EM currencies and the main underlying theme impacting them this week. Key quotes “The trend remains for richer G-spread curves across the EM SSA spectrum. Both Asian and Latin American names exhibit a clear tendency in this direction, while this is less obvious in EMEA.”

NYSE:NIO posts a modest advance on Monday amid tepid optimism.  EV Stocks erase gains on Friday as markets pull back. Volskwagen’s CEO is stepping down at the end of August. Update: NIO stock changed course on Monday and posted a modest 0.39% advance, settling at $19.32 per share. Wall Street held ground as investors hope the

This/next week forecast (July 25 – 29, 2022) Uptrend scenario The uptrend may be expected to continue, while market is trading above support level 3922, which will be followed by reaching resistance level 4168. Downtrend scenario An downtrend will start as soon, as the market drops below support level 3922, which will be followed by

Gold Price is set to finish the week up by almost 1%, snapping five weeks of losses. Investors’ recession fears re-emerged on weak EU and US PMI data. The US 2s-10s yield curve inversion extended for 14 straight days. Gold Price rises for the second consecutive day after tumbling to a fresh multi-month year low

EUR/JPY finishes negative in the week, down by 0.48% as the yen shows signs of strength. Deteriorated market mood, augmented appetite for safe-haven peers. EUR/JPY Price Analysis: In the near term is downward biased, eyeing a fall below 137.00. The EUR/JPY plummets from weekly highs hit on Thursday at 142.32, drops more than 160 pips

The GBP/JPY finished the week with decent losses of 0.68%. July’s worldwide reported S&P Global PMIs resurfaced recession concerns in the financial markets, shifting sentiment sour. GBP/JPY Price Analysis: In the short-term downward biased unless buyers reclaim 164.00; otherwise, losses would extend towards 161.80. The GBP/JPY slides for the third straight day creep below the