USD/JPY pares all the previous day’s gain on Thursday. More downside for the pair on the cards, if price breaches the Head & Shoulder formation neckline. Momentum Oscillators warn caution for any aggressive directional bets. USD/JPY remains under pressure in the European trading hours. The pair hinges near the daily support level of around 109.70.
FX
NIO shares get caught in yet another China crackdown. NIO is not involved but guilty by association as Chinese stocks suffer. Tesla results on Monday were solid, NIO is a peer. NIO stock continues to be stuck in a sideways range since retreating from a failure to break above resistance at $54.86 back in early
In light of the recent price action, USD/CHF could slip back to the 0.9117 level, suggests Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes “USD/CHF has failed at the 4-month downtrend at .9219 and is under pressure near term. We would allow for slippage back to the .9117 recent low and
Starbucks (SBUX) reported Q3 2021 earnings after the close on Tuesday. Earnings Per Share (EPS) came in at $1.01 versus the $0.77 average Wall Street estimate. Revenue was $7.5 billion versus the $7.24 billion estimate. Starbucks closed the regular session on Tuesday at $126.02. Starbucks (SBUX) earnings news Starbucks stock is trading at $123.74 in
Economist at UOB Group Barnabas Gan assesses the latest industrial/manufacturing figures in Singapore. Key Takeaways “Singapore’s industrial production rose 27.5% y/y (-3.0% m/m sa) in June 2021, in line with our expectations for a 27.4% y/y expansion. This is the fastest growth since November 2010 (+41.2% y/y, +1.5% m/m sa).” “Manufacturing growth in the second
What you need to know on Tuesday, July 27: The greenback lost some ground on Monday but held within familiar levels against major rivals. It got to recover ahead of Wall Street’s close, as the US indexes reverted early losses and settled at fresh all-time highs. The EUR/USD pair topped 1.1816, ending the day around
A combination of factors exerted some pressure on GBP/USD for the second straight day. A subdued USD price action extended some support and limited losses, at least for now. The GBP/USD pair remained on the defensive heading into the European session and was last seen hovering near daily lows, around the 1.3740-35 region. The pair
Since the crash of March 2020, all stocks have tried to recover what they lost and JNJ was no exception. Johnson & Johnson did not only recover the lost, but It also reached historic highs. Now, we are going to try to build a wedge from the March 2020 lows with a target above $176.
GBP/USD pares intraday losses, down little around mid-1.3700s GBP/USD attracted some dip-buying on Friday amid a subdued USD price action. The risk-on impulse in the markets acted as a headwind for the safe-haven USD. Rallying US bond yields underpinned the USD and capped the upside for the pair. The GBP/USD pair remained on the defensive
In a statement published on Friday, US Treasury Secretary Janet Yellen urged Congress to act as soon as possible on debt limit, as reported by Reuters. Additional takeaways “US will meet statutory limit on debt on August 1.” “Treasury will suspend the sale of state and local government securities at noon on July 30.” “Treasury will need
German Manufacturing PMI arrives at 65.6 in July vs. 64.2 expected. Services PMI in Germany expands to 62.2 in July vs. 59.1 expected. EUR/USD keeps its range around 1.1770 on upbeat German PMIs. The German manufacturing sector extends its expansionary mode into July, the preliminary manufacturing activity report from IHS/Markit research showed this Wednesday. The Manufacturing
What you need to know on Friday, July 23: The greenback ended Thursday mostly lower across the FX board, although higher against the EUR. The ECB was the main event of the day. As widely anticipated, the central bank decided to leave the interest rates on the main refinancing operations, the marginal lending facility and
AUD/USD attracted buying for the second consecutive day and recovered further from YTD lows. The risk-on impulse undermined the safe-haven USD and benefitted the perceived riskier aussie. COVID-19 jitters might hold bullish traders from placing aggressive bets and cap gains for the pair. The AUD/USD pair edged higher during the early European session and climbed
Oil prices have rebounded strongly to a marked area of resistance. General consumption data doesn’t support the demand fears. Oil prices as measured by West Texas Intermediate (WTI) crude are higher by more than 5.6% at the time of writing as the Wall Street session moves into the final hour of trade. Improved risk appetite set
FX option expiries for July 21 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1700 1.3B 1.1770 289M 1.1800 312M 1.1825-35 633M 1.1850 670M – USD/JPY: USD amounts 110.00-15 1B 110.50 820M – AUD/USD: AUD amounts 0.7400 858M – USD/CAD: USD amounts 1.2600 305M 1.2700 510M 1.2745 260M
WTI is edging higher in the second half of the day on Tuesday. Improving market mood seems to be helping oil gain traction. Investors await API’s Weekly Crude Oil Stock data. Crude oil prices came under strong heavy selling pressure at the start of the week and the barrel of West Texas Intermediate (WTI) lost
COVID-19 resurgences appear to be the primary driver of moves across many markets this year. Until the COVID-19 case count gets back under control, the yen may strengthen, the UK yield curve may flatten, and defensive lockdown-era leaders in the stock market may continue to outperform, according to Jeffrey Kleintop, Managing Director and Chief Global
GBP/JPY bears are in control, but weely support could result in a meaningful correction. Monthly prospects are bearish towards a lower low and prior resistance. The yen is picking up a safe-haven bid in the open of the week pertaining to fear of the delta variant spreading worldwide. However, from a technical standpoint, the price