What you need to take care of on Friday, March 25: The American dollar finished the day mostly lower across the FX board, although it managed to keep advancing versus the Japanese yen, with USD/JPY hitting a fresh multi-year high of 122.40. The EUR/USD pair is still struggling with the 1.1000 threshold, unable to extend
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Eurozone PMI declined in early March but came in higher than expectations. EUR/USD continues to fluctuate around 1.1000 after the data. Manufacturing PMI in the eurozone edged lower to 57 in early March from 58.2 in February, the data published jointly by IHS Markit and S&P Global showed on Thursday. This print came in better
What you need to take care of on Thursday, March 24: The dollar ended Wednesday mixed, as investors struggled to make something out of mostly worrisome headlines. Higher crude oil prices amid escalating tensions between Russia and western nations dented the market’s mood. The barrel of West Texas Intermediate surged to $115.37 a barrel, while
USD/CHF regained positive traction on Wednesday amid the emergence of some USD buying. Elevated US bond yields, the Fed’s hawkish outlook continued acting as a tailwind for the buck. Modest pullback in the equity markets benefitted the safe-haven CHF and capped the upside. The USD/CHF pair maintained its bid tone through the early European session
Silver has stabilised around $24.80 in recent trade despite further upside for US equities and bond yields. Geopolitical risks remain elevated as Russo-Ukraine war continues and Western leaders sound the alarm about potential Russian chemical weapons attacks. For now, support at $24.50 is holding, but a bearish break could see the 200 and 50DMAs at
Find out the 3 bullish reversal patterns that provide early warning before the short covering rally in S&P 500. Click and watch the video below on YouTube (Pro Tip: adjust the speed to 1.5–2X): [embedded content] The bullish market sentiment is also reflected in my stock screener where the bullish setup outnumbers the bearish setup
Spot gold has advanced on Monday despite the US dollar and yields rising in wake of hawkish Powell commentary. XAU/USD is in the $1940 area and eyeing recent highs around $1950 as inflation and geopolitical concerns linger. Spot gold (XAU/USD) has mostly been trading on the front-foot during US trading hours, despite the latest remarks
In opinion of FX Strategists at UOB Group, USD/CNH is predicted to keep the trading range between 6.3300 and 6.3900 in the next weeks. Key Quotes 24-hour view: “We expected USD to ‘trade sideways within a range of 6.3530/6.3730’ last Friday. USD subsequently popped to 6.3807 before easing off to close little change at 6.3675
The New Zealand dollar posted gains of 3% vs. the Japanese yen amid a risk-on market mood. The euro and the Japanese yen suffered losses against most G8 currencies. NZD/JPY Price Forecast: The bias is upward, but the steepness of the rally might spur a correction before resuming up. The NZD/JPY extends its gains in
GBP/USD Weekly Forecast: Bullish potential limited, with UK inflation, Ukraine in spotlight Optimism over a probable truce between Russia and Ukraine offered a sigh of relief to risk-sensitive currencies such as the British pound. GBP/USD staged an impressive comeback, as the US dollar failed to capitalize on the hawkish Federal Reserve (Fed) outlook. Cable booked
The British pound trimmed some of the last week’s losses, finished up 1.07%. Russia – Ukraine peace talks slowed amid failure to reach an agreement. US President Biden and China’s Xi talked about Russia – Ukraine. Fed’s Bullard, Waller, and Kashkari crossed the wires. GBP/USD Price Forecast: The bias is downwards unless GBP bulls reclaim
Silver prices sold off on Friday as risk appetite elsewhere continued to improve, with XAG/USD falling back under $25.00. But silver continues to trade well within recent ranges as traders monitor geopolitical developments. A strong finish to a strong week for US (and global) equities has seen safe-haven silver come back under selling pressure on
Rivian Automotive (NASDAQ: RIVN), the budding electric vehicle maker, initially bank-rolled by the likes of Ford (NYSE: F) and Amazon (NASDAQ: AMZN), is currently trading 80% lower than its peak since listing on the Nasdaq stock exchange. Bear in mind that Rivian was listed on the Nasdaq in November 2021, when you had to be
Any USD/JPY dip in response to USD weakness has been very shallow. Economists at OCBC Bank expect the pair to grind higher to test the 120 mark in the coming sessions. Topside extension “With the pair looking to consolidate between 118.50 and 119.00, the next multi-session target may well be the 120.00 psychological level.” Note
What you need to take care of on Friday, March 18: The American Dollar remained under selling pressure throughout the day, accelerating its slump ahead of the London fix. The greenback was affected by persistent weakness in government bond yields following the hawkish Federal Reserve’s announcement on Wednesday. By the end of the American session,
EUR/USD closed the second straight day in positive territory on Wednesday but struggled to clear 1.1050. Economists at ING expect the pair to remain capped at the 1.1100/1120 region. Let’s hear from the ECB “After the Fed’s success with a hawkish message and some suggestion from sourced reports that the ECB was unhappy with EUR/USD
US stocks rebound in the Fed aftermath, S&P500 is 1.5% in the green. Ukraine/Russia peace talk hopes gain traction in global financial markets. The S&P 500 is in the green by some 1.6% at the time of writing and after the volatility surrounding the Federal Reserve that on Wednesday raised its benchmark lending rate for the first
FX option expiries for March 16 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1000 1.2b 1.1050 728m 1.1100 823m 1.1150 2.6b – GBP/USD: GBP amounts 1.3500 747m – USD/JPY: USD amounts 117.95 734m – USD/CHF: USD amounts 0.9115 440m 0.9325 770m 0.9400 540m – USD/CAD: USD amounts