FX

Brexit Tensions are increasing and may weigh on the British pound in coming months, warn analysts at Danske Bank. They also point out that relative interest rates have weighed on EUR/GBP for quite some time but not anymore. Key Quotes:  “It is still worth keeping an eye on the EU-UK negotiations on the implementation of

Vroom stock is advancing on Friday. VRM stock has dropped as much as 98% since reaching a high above $75 in 2020. Vroom stock is benefitting from retail traders attempting to create a short squeeze. Vroom (VRM) stock has continued advancing on Friday a day after retail splurged and pushed shares up 36.4% to $1.61 a share. At the

Gold price is expected to rebound as a retest of Wednesday’s low shows a loss of downside momentum. The hawkish commentary from Fed Powell has put the gold prices on tenterhooks for a prolonged period. The DXY is performing lackluster on the downbeat US PMI. Gold price (XAU/USD) is hoping for a rebound as the

Gores Guggenheim voted on Wednesday to take Polestar public. Polestar will list under the ticker PSNY on the Nasdaq and start trading on June 24. GGPI stock rose 12% on Wednesday in anticipation of the deal going through. Gores Guggenheim (GGPI) stock merger with Polestar looks set to debut on the Nasdaq on Friday under the ticker

AUDUSD returns to the red after the early recovery to near 0.6930. Recession fears revive the dollar’s safe-haven demand, as Powell disappoints. Daily technical setup risks a test of the critical support at 0.6855. AUDUSD is trading close to 0.6900, having failed to sustain the tepid bounce near the 0.6930 region. The US dollar is seeing a

NASDAQ:MULN rose by 32.0% over the last week of trading. Mullen releases some promising updates for its solid-state battery technology. Mullen hires a new executive to run its global operations division. NASDAQ:MULN continues its volatile performance this year as the electric vehicle startup posted a 32% gain last week. The main catalyst that sent shares

Gold prices have extended their losses after slipping below the cushion of $1,830.00. Fed Powell’s testimony is expected to be extremely hawkish considering the runaway inflation rate. The EU is supposed to ban gold trading from Russia. Gold price (XAU/USD) has extended its losses in the Asian session after violating the critical support of $1,830.00.  The

Welcome back to our deep dive series where this time we focus on the consumer sector with Walmart (WMT). As per usual we will look at both fundamental and technical valuation methods to arrive at our 12-month price target for the retailer giant company. We also take into account the overall market cycle and macroeconomic

GBP/USD remains directed towards 1.2300 but bulls catch a breather. US dollar licks its wounds amid a risk-friendly market environment. BOE Mann’s hawkish comments underpin the GBP, focus shifts to Powell. GBP/USD is looking to build on the previous day’s recovery, as bulls keep their sight on the 1.2300 barrier amid an upbeat market mood. Risk

AMC stock zoomed higher on Friday and may benefit further once markets open on Tuesday after Monday’s Juneteenth holiday. The weekend box office receipts were decent but not better than the previous weekend. However, summer blockbusters like Jurassic World Dominion and the new release Lightyear helped bring in the crowds. Overall, the June 17 to 19 weekend brought in

European Central Bank (ECB) Governing Council member Olli Rehn said over the weekend that he wants to ensure that the fragmentation risks do not cause undue turbulence on government bond markets. Key quotes “We are firmly committed to contain unwarranted fragmentation that would impair monetary-policy transmission.”  “We are fully committed to preventing fiscal dominance —

The Swiss franc is on the driver’s seat, as shown by the USD/CHF dropping 1.82%. Sentiment in the FX space fluctuated, with safe-haven peers gaining, except for the JPY. USD/CHF Price Forecast: Subject for a mean reversion move towards 0.9850. The USD/CHF recovered some ground after falling to fresh weekly lows around 0.9620, bounced off,

US stocks recovered some ground after a bumpy trading week. The Nasdaq Composite rose and led the pack, followed by the S&P 500, while the Dow Jones fell. The US Dollar Index rose, contrarily to US Treasury yields dropping US equities recovered some ground after a rough trading week and recorded gains between 0.13% and

The Australian dollar prepares to finish the week with losses of almost 1.60%. Fluctuating sentiment in the FX space boosts the USD and weighs on the AUD. St. Louis Fed President Bullard: Achieving a soft landing is feasible. AUD/USD plummets from weekly highs reached on Thursday around 0.7069, down below the 0.7000 mark, after Wednesday’s

The gold spot is falling due to broad US dollar strength and steady US real yields. US Industrial Production expànded at a lower rate than in April, showing that the US economy is slowing. Gold Price Forecast (XAUUSD): To consolidate amid the lack of a catalyst. Gold spot (XAUUSD) drops courtesy of a buoyant greenback,

In the opinion of economists at Rabobank, safe-haven flows could keep the US dollar stronger for longer. Subsequently, the euro, the pound and the yen are set to weaken against the greenback. Cable seen back at 1.20 and potentially below on a three-month view “While a US recession in 2023 suggests that the market will

USD/JPY takes the bids to refresh daily top, snaps a two-day downtrend. Weekly horizontal resistance, descending trend line from Tuesday test buyers. MACD, RSI hints at further recovery moves until the quote stays beyond 100-SMA. BOJ is widely anticipated to keep the monetary policy intact. USD/JPY extends the bounce off weekly low while refreshing intraday

Here is what you need to know on Thursday, June 16: A new dawn has arrived today for most of us in financial markets. The Fed has hiked interest rates by 75 basis points for the first time since the 1990s. This is a feat most likely not too many of us will remember, certainly not