EUR/CHF has rebounded sharply from the low of 1.0300. The pair is expected to test the 200-day moving average (DMA) located at 1.0700, economists Société Générale report. Downside limited while above 1.0420 “Holding above the daily Ichimoku cloud at 1.0420, the bounce could persist.” “Next potential resistance is located at the 200-DMA near 1.0700.” See: EUR/CHF
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GBP/JPY snaps two days of losses as buyers eye a second test of the YTD highs above 157.00. GBP/JPY Technical Outlook: The cross-currency pair is upward biased, as indicated by three technical signals. The British pound recovers from two straight days of losses amid an improved market sentiment as the North American session winds down.
EUR/USD has regained its traction after dropping below 1.1300 on Monday. But as FXStreet’s Eren Sengezer notes, the pair needs to clear 1.1350 to extend recovery. 1.1320 aligns as the first support level “In case EUR/USD the 1.1350 resistance, where the Fibonacci 38.2% retracement of the latest uptrend and the 200-period SMA on the four-hour
NIO stock extends decline on Monday as risk aversion leads the way. Other EV stocks such as Rivian and Lucid also suffered large losses. Sector out of favour and likely to remain so as macro factors too powerful. UPDATE: NIO is down over 1% heading into the close, trading at $23.82 per share. Global stocks edged lower
EUR/USD revisits the 1.1300 region on Monday. The dollar remains bid amidst persistent risk aversion. US 10y yields trade on the defensive near the 1.90% mark. The single currency sheds further ground and forces EUR/USD to put the 1.1300 support level to the test on Monday’s European morning. EUR/USD looks to geopolitics, risk aversion EUR/USD
The possibility of steeper interest rate hikes worried investors, and tensions between Ukraine and Russia escalated on Friday. This was sending markets into a state of flux with the usual risk assets and FX responding in kind; More on that below. Meanwhile, there was news that a Russian attack on Ukraine could begin any day now and
WTI has ebbed back to the low $93.00s after spiking to the $94.60s on reports a Russian invasion of Ukraine is imminent. US National Security Advisor Sullivan pushed back against an earlier report that the admin thought Russia would invade next week. If Russia does attack next week as US press reported, many traders would
The S&P 500, the Dow Jones, and the Nasdaq Composite fell between 1.43% and 3.07%. Ukraine/Russia conflict escalation points towards a Russia’n invasion as reported by US press, confirmed by the US Security Advisor. Market sentiment was dismal, as safe-haven flows like gold, the USD, and the yen dominated the end of the week. Western
The USD/JPY is barely flat during the day, as market mood conditions remain mixed. US Treasury yields advance, led by the 10-year above the 2% mark. USD/JPY bias is tilted upwards as USD buyers attack 116.00, followed by the YTD high. The USD/JPY barely falls during the North American session, following Thursday’s volatile trading day,
As a result of the last European Central Bank meeting, analysts at Rabobank revised EUR/USD forecasts to the upside. Now they expect the pair to drop to 1.11 by mid-year down from their previous target of 1.10 Key Quotes: “We have moderated our EUR/USD forecasts in light of the hawkish pivot at the ECB’s February
The 6.3400-6.3805 range is expected to prevail in USD/CNH for the time being, commented FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected USD to trade between 6.3590 and 6.3740 yesterday. USD subsequently traded within a wider range than expected (6.3520/6.3690) before closing largely unchanged at 6.3634 (+0.03%). Despite closing largely unchanged, the
The cross-currency is almost flat during the day, as both currencies are the main gainers in the FX complex. The EUR/GBP is trapped between the 50 and the 100-DMA, a 36-pip range. EUR/GPB is neutral biased but could shift neutral-upwards with an upbreak of the 100-DMA. The EUR/GBP is barely down during the North American
NZD/USD gained positive traction for the third successive day, though lacked bullish conviction. A positive risk tone extended support to the perceived riskier kiwi amid subdued USD demand. Traders seemed reluctant and preferred to wait on the sidelines ahead of the key US CPI report. The NZD/USD pair traded with a mild positive bias through
EUR/GBP bulls take control as markets get set for the US CPI key event. ECB and BoE sentiment continues to drive the cross. EUR/GBP is heading into the last hour of Wall Street on a strong footing ahead of the countdown into US Consumer Price Index which could be a trigger for the US dollar
The Indonesian rupiah continued depreciating against the US dollar to its monthly low by temporarily reaching the lower-IDR 14,400 level on January 31. In February, market participants should be cautious of the possibility for the IDR to depreciate against the USD, economists at Mizuho Bank report. Market participants should remain cautious about the rise of
EUR/USD bears stay in control and eyes are on a significant retracement. The daily time frame’s 38.2% ratio is located at 1.1345. As per the prior analysis, EUR/USD: Bulls firming, eyes on M-formation neckline before 1.1410 break, the price remains pressured with a bias to the downside from both the hourly and daily perspectives. EUR/USD prior
UOB Group’s FX Strategists noted further consolidation is expected in USD/CNH in the next weeks. Key Quotes 24-hour view: “Yesterday, we highlighted that ‘momentum indicators are mostly neutral’ and we expected USD to ‘trade sideways between 6.3500 and 6.3700’. While our view for sideway-trading was not wrong, USD traded within a narrower range than expected
XAU/USD has recently pushed back above $1820 and, in doing so, moved back above its 21DMA. The bulls will be eyeing a move towards the next key resistance area around $1830. XAU/USD has been taking advantage of the subdued FX markets and a slight pullback in US government bond yields. Spot gold (XAU/USD) prices have