AUD/NZD pushed back above 1.0550 on Monday to challenge last week’s highs on Monday. External central bank events will dictate FX action this week, but Australia and New Zealand data will be of note. AUD/NZD pushed back towards last week’s highs above 1.0550 on Monday, up about 0.1% on the day, as the Aussie dollar
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EUR/HUF rise faced an interim hurdle at 372.00 after breaking out from the year-long consolidation. Although the pair is staging an initial pullback, EUR/HUF is set to resume its advance towards the 375.00 level, economists at Société Générale report. November low of 358.50 should be a near-term support “An initial pullback is under way, however,
AUD/JPY strengthened a tad on Friday amid a more upbeat tone to markets. AUD/JPY appears to be forming a pennant and could break higher towards its 21DMA near 82.00. AUD/JPY strengthened a tad on Friday amid a more upbeat tone to markets. US inflation data didn’t come in quite as high as some had feared
A risk-on market mood boosts risk-sensitive currencies like the British pound, the JPY falls. Traders’ mood turned negative when the US inflation crossed the wires, thought later improved. GBP/JPY Price Forecast: Has a neutral-bullish bias, though downside risks remain. The British pound pares some Thursday’s losses during the New York session gains 0.31%, trading at
USD/JPY continues to trade close to the 113.50 level after seeing some post-US inflation data choppiness. The pair continues to track moves in the US 10-year yield and as long as that remains subdued, USD/JPY will struggle to recover. USD/JPY was subdued on Friday, for the most part sticking within recent ranges and not deviating
The US Dollar Index ended the week above the 96.00 threshold. The US 10-year Treasury yield finished flat, at 1.482%. DXY Technical outlook: An upside break above an ascending triangle target 98.00. The US Dollar Index, also known as DXY, which measures the greenback’s performance against a basket of six rivals, slides 0.19%, sitting at
UK Brexit Minister Lord David Frost said on Twitter on Friday that the UK and EU had made further limited progress on medicines but we have not reached agreement. 1. @MarosSefcovic and I met by video today to wrap up this week’s talks process about the Northern Ireland Protocol. We have made further limited progress on
The EUR/USD pair stalled at 1.1350 first and now marginally below 1.1300 again. In the view of economists at ING, we would need to see a clear hawkish twist by the European Central bank (ECB) to turn the tide for the slightly overvalued and not clearly oversold euro. Hard to turn the tide “EUR/USD may
NASDAQ:LCID changes course on Thrusday’s, losses over 17% Lucid announced a convertible senior notes offering after the session closed. President Biden signs an executive order to upgrade the government fleet to EVs. Update: NASDAQ:LCID is down over 17% heading into the US close, now quoting at $36.95 per share. The decline was triggered by news
AUD/USD has rebounded after revisiting November 2020 levels of 0.6990. However, the bounce is set to run out of steam ahead of the 0.7250 level. Economists at Société Générale warn that a break below 0.6990 would imply a deeper down move. Upside limited “A large upside is not envisaged; daily Kijun line at 0.7250 should
USD/JPY bulls moving in and eye a restest towards 115.20. On the downside, 112.50 is an important level worth noting. USD/JPY has corrected to into hourly support which gives rise to bullish prospects for the sessions ahead. The following illustrates, in a top-down analysis, the potential for a restest of the 114 area towards 115.20.
In order to ramp up emergency stimulus, the new Omicron covid variant must have a significant damaging impact on the euro area economy, European Central Bank (ECB) Governing Council member Martins Kazaks said in a Bloomberg interview on Wednesday. Key quotes “At the current moment, we don’t know how the omicron variant will develop.” “Unless
GBP/CAD slumped from above 1.6900 to under 1.6750 on Tuesday for its worst one-day performance since April. A combination of technical selling, higher oil prices and central bank policy divergence drove the move. GBP/CAD slumped to within a whisker of its lowest levels since March 2020 on Tuesday, slipping from above 1.6900 at the start
Gold stays indecisive despite keeping pullback from weekly top, bouncing off intraday low. Yields stay firmer even as Omicron fears recede, DXY snaps four-day uptrend. Risk catalysts will be focused ahead of Friday’s US CPI. Gold Price Forecast: Depressed amid a better market mood Gold (XAU/USD) consolidates intraday losses while bouncing off the daily low
What you need to know on Tuesday, December 7: The dollar ends Monday mixed as speculative interest aims to digest the latest developments. On Friday, the US published the Nonfarm Payrolls report, which showed the country added just 210K new jobs in November, missing the market’s expectations, and putting at doubt further aggressive tapering in
Gold struggled to capitalize on Friday’s goodish rebound from a one-month low touched in the previous day and witnessed a subdued/range-bound price action on the first day of a new trading week. The XAU/USD remained confined in a narrow band through the early European session and was last seen trading in the neutral territory, just
The shared currency advances against the greenback, up some 0.10%. The US Dollar Index, which measures the buck’s performance against six rivals, is flat at 96.16. EUR/USD: Mild bearish, but it needs a break below the 50-SMA to resume the downward move. After seesawing before the Wall Street open on US macroeconomic data, the EUR/USD
GBP/USD Weekly Forecast: Another dollar surge? US inflation could outweigh Omicron, UK GDP Time to retire “transitory” – these hawkish words by Federal Reserve Chair Jerome Powell when referring to inflation have served as the tiebreaker in favor of the dollar. Fears of the Omicron covid variant have been intermixed with hope that it isn’t