The USD/CHF to record the biggest monthly gain since May 2012, up 5.17%. A dampened market mood increased the appetite for the safe-haven Swissy as US dollar traders booked profits. USD/CHF Price Forecast: A daily close below 0.9700 might open the door for a mean reversion move. The USD/CHF retreats from YTD highs though clings
FX
DXY retreats from Thursday’s 19-year highs near 104.00. A deeper correction could extend to the 101.00 region. Following nearly 2-decade highs around 104.00, DXY is finally facing some corrective downside at the end of the week. There is still scope for further downside, as the index keeps navigating the overbought territory, as per the daily
Gold Price is fading its recovery from two-month lows as the US dollar regains poise. The DXY is driving higher on an adrenaline rush from uncertainty over the rate decision by the Fed. Apart from the interest rate decision, balance sheet reduction and further guidance will be in focus. Gold Price is struggling to hold
Apple (AAPL) stock next up on the earnings docket, after the close on Thursday. Facebook Meta (FB) stock rallied 20% on mediocre earnings, a relief rally. Amazon (AMZN) is also set to release earnings after the close on Thursday. Earnings season really is getting into the meaty stuff this week. We already mentioned this was
USD/JPY shoots to near 129.54 on a neutral stance dictated by the BOJ in its monetary policy meeting. The decision is in-line with the market expectations as inflation is well below the target of 2%. The DXY is likely to advance further on higher expectations of the US Core PCE on Thursday. The USD/JPY pair has attracted
XAG/USD continues to trade with a downside bias and hit more than two-month lows in the $23.20s on Wednesday. The buck continues to advance, weighing on the pair, amid risk-off flows, geopolitical jitters and Fed tightening bets. Continued buck buoyancy against the backdrop of still very jittery global market risk appetite (US stocks have pared
USD/JPY reaches 127.80 on a bullish open test-drive session. The market participants are discounting the neutral stance of the BOJ in its monetary policy meet. Some measures for supporting yen are highly expected. The USD/JPY pair has tested 127.80 in the Asian session as the asset is gradually advancing despite a steady move in the US
Oil prices have stabilised on Tuesday with WTI near the $100 level as traders mull geopolitics and China lockdown risks. WTI has stayed within $10 of the $100 mark since the start of April. Oil prices have seen stabilising on Tuesday following Monday’s choppy trading conditions, as traders weigh China lockdown risks against a still very tense
GBP/USD bulls seeking a break of 1.2765 in the sessions ahead. Bulls eye a significant correction from weekly support. GBP/USD is an interesting schematic on the charts. Following a negative start to the week, where the weekly chart has extended further to the downside, there are now prospects of a meaningful correction from what could
Gold Prices recently slid below the $1900 level for the first time in nearly one month and are now testing support. A break below $1890 support would open the door to selling pressure towards the 200DMA at $1830. Ahead, gold traders will be watching US data including GDP and Core PCE results, as well as
Citing nine sources familiar with European Central Bank (ECB) thinking, Reuters reported Monday that the central bank policymakers are eagerly waiting to wind up their asset purchases programme at the earliest so that they can begin raising raise interest rates in July and latest by September. Key takeaways “It was just over 2% so in
The US Dollar Index (DXY), hits a fresh 25-month high on Fed official’s comments. Fed speakers in the week support 50-bps rate hikes at the May 4-5 meeting. US Dollar Index Price Forecast (DXY): Bulls target January’s 2017 highs near 103.82. The US Dollar Index, a measurement of the greenback’s value against a basket of
The S&P 500, the Dow Jones, and the Nasdaq Composite recorded losses in a risk-off market mood. Fed speakers in the week support 50-bps rate hikes at the May 4-5 meeting. US Treasuries and the greenback finished the week higher amidst hawkish Fed comments. US equities finished the week with substantial losses, reflecting a gloomy
USD/CAD rallied roughly 140 pips on Friday to hit its highest level in over one month above the 1.2700 mark. That marks the largest one-day percentage gain since November. The pair rallied as a function of risk-off flows, with recent BoC hawkishness and strong data failing to support CAD. USD/CAD rallied roughly 140 pips on
Cleveland Fed President and FOMC member Lorreta Mester, speaking in an interview on CNBC, said on Friday that the Fed wants to see tighter financial conditions, though not all at once. “We are in a recalibration phase for monetary policy,” she said, adding that the Fed’s goal is to bring inflation under control, but also
Manufacturing PMI was a little stronger than expected, but Services PMI was much weaker than expected. The Dollar Index (DXY) did not react to the latest PMI data release. IHS Markit’s headline Manufacturing PMI rose to 59.7 in April from 58.8 in March, above expectations for a slight decline to 58.2, according to a flash
HYMC stock spiked on Wednesday as traders cite a $20 price target from Twitter account. HYMC stock gives up gains on Thursday and Monday as it returns to $1.80 support. HYMC is well followed by AMC apes after AMC investment. Update: The meltdown in Wall Street, courtesy of Fed Chair Jerome Powell’s hawkish reinforcement, exacerbated
EUR/USD has climbed back above the 1.09 level this morning. In the opinion of economists at Rabobank, the pair will end the year moderately higher. Moving on? “Around four European Central Bank (ECB) officials have indicated that rates could be raised in Q3. there is a clear sense that the Governing Council may be opening