USD/CHF edges lower on Wednesday in the Asian session. Higher highs and higher lows depict the upside trend in the pair since August 30. MACD holds onto the overbought zone with receding upside momentum. USD/CHF remains muted on Wednesday in the initial Asian trading hours. After testing the low of 0.9185 in the US session,
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In an interview with Reuters on Tuesday, European Central Bank (ECB) policymaker Bostjan Vasle said there are early signs that wage pressures in the euro area could become material and pose inflation risks. Additional takeaways “ECB should end the Pandemic Emergency Purchase Program (PEPP) in March if economic trends continue.” “Real financing conditions remain favourable despite nominal
GBP/USD Forecast: Will the British pound look past Brexit developments? GBP/USD has been moving in an ascending channel since late September. UK’s Frost says there is still a gap between the EU and the UK negotiating positions. Near-term technical outlook points to additional gains as long as 1.3700 support holds. The GBP/USD pair preserved its
Procter & Gamble’s fiscal quarter earnings report is due on October 19, 2021. The multi-national corporation reported $76.1 billion in net revenues for 2021, a 7% increase over the previous year. Organic revenues grew 6%, driven by a 3% rise in organic volume, excluding the effects of foreign exchange, acquisitions and divestitures. Due to a
In thin trade at the start of the week, New Zealand Consumer Prices, which surprised to the upside at the start of the day, has seen NZD/USD rally to test 0.7100 and print 0.7105 the high. New-Zealand (Sep) CPI (YoY) actual: 4.9% vs 3.3% previous;est 4.2%. New-Zealand (Sep) CPI (qoq) actual: 2.2% vs 1.3% previous;est 1.5%.
The Dow Jones Industrial, the S&P 500, and the Nasdaq Composite posted gains between 0.7% and 1.6% on Friday. US Retail Sales surprised to the upside, while the University of Michigan Consumer Sentiment Index fell. The USD/JPY reached five-year highs above 114.00. Bitcoin broke the $60,000 barrier, trades at All-Time-Highs. US equities finished on a
The British pound continues its rally against the Japanese yen on the back of BoE’s hiking rates expectations. The market sentiment is upbeat, boosting risk-sensitive currencies like the Sterling. Japanese Finance Minister said that currency stability is “very important” and will keep an eye on the forex market moves. The GBP/JPY extends its seven-day rally
USD/JPY soars during the week, despite US dollar weakness across the board. Rising US T-bond yields underpins the USD/JPY pair. US Retail Sales upwardly surprised, rose by 0.7%, more than expectations. The USD/JPY extends its one-and-a-half month rally, advances 0.47% during the New York session, trading at 114.21 at the time of writing. As portrayed by
Having failed to conquer the $1,800 mark on Thursday, gold witnessed some selling on the last day of the week and snapped three consecutive days of the winning streak to near one-month tops. The intraday retracement slide extended through the first half of the European session and dragged the XAU/USD to fresh daily lows, around
EUR/USD is stalling just below the daily 20 EMA. A period of sideways accumulation could be on the cards for the near term. EUR/USD has shot higher in the last few sessions but the rally has stalled and left a doji topping candle on the daily chart. The following is an analysis of both the daily
Fed officials do not appear swayed from their QE tapering plans by the slowdown in jobs growth, keeping the US dollar on a solid footing. The US Dollar Index (DXY) is looking a little shaky into 94.5, but should retain the bulk of its recent gains, according to economists at Westpac. Gas supply bottlenecks in
AUD/USD continues its northerly trajectory supported by higher energy and covid vaccinations optimism. China remains a significant risk to Australia’s export-dependent economy. AUD/USD is second to only the Canadian dollar on Wednesday in New York closing in the cunt down to Thursday’s Asian session’s key event that will reveal Australia’s jobs data for September. At the closing
A modest USD pullback assisted AUD/USD to attract some dip-buying on Wednesday. Traders now eye the US CPI report and FOMC minutes for a fresh directional impetus. A sustained move beyond multi-week tops is needed to confirm a fresh bullish break. The intraday USD selling picked up pace in the last hour and pushed the
Gold is in the balance of the market’s forecasts for stagflation. Gold is at the mercy of the Fed, inflation risks and US jobs and other critical data this week. The price of gold is higher by some 0.38% around the close of Wall Street as US equities plummet. The Dow fell more than 100 points as
Following the release of the monthly ZEW Survey for Germany, the country’s highly influential institute presents a dour outlook of the economy. Key takeaways “Assessment of the economic situation in Germany has worsened in the current survey.” “Compared to the previous month, the outlook for the economic development in the next six months has noticeably
The AUD/USD threatens to break above 0.7400 despite broad US dollar strength across the board. Higher Iron Ore prices boost the Australian dollar. AUD/USD: A daily close above the 100-DMA could exert upward pressure towards 0.7500. The AUD/USD advances 0.55% during the New York session and is trading at 0.7348 at the time of writing.
DXY starts the week on a positive footing above 94.00. US 10-year yields regain traction above the 1.60% mark. Short-term Auctions will be the sole release in the US docket. The greenback, when tracked by the US Dollar Index (DXY), manages to reverse two sessions with losses and resumes the upside around the 94.20 area
XAG/USD is steady as the US 10-year T-bond yield sits firmly around 1.61%. The US Dollar Index seems poised to close above 94.00 for the second consecutive week. Silver (XAG/USD) is advancing during the New York session, climbs 0.69%, trading at $22.76 at the time of writing. Price action throughout the American session has been