FX

Commenting on the market reaction to the FOMC’s hawkish shift this week, Rabobank analysts noted that the sharp rally in the USD on the back of this week’s Fed meeting suggests a sharp re-adjustment in positions has been taking place.  Key quotes “It is possible that the Fed did too good a job in recent

GBP/USD Weekly Forecast: BOE may save sterling after massive Fed-induced 300-pip blow GBP/USD has tumbled down in response to a Fed decision, UK reopening delay. The BOE’s decision and a bulk of US figures are set to move the currency pair. Mid-June’s daily chart is showing bears are taking over. The FX Poll is pointing

Here is what you need to know on Friday, June 18: Happy Juneteenth day. The new US holiday falls on a Saturday this year so many businesses and workers are observing it today. The Dow is not taking a holiday but is instead taking a bath. After a fall on Thursday, Dow futures are indicating

AUD/USD remains range-bound below 0.7565, eases from intraday high of late. Failures to stay below 200-DMA, Momentum rebound backs recovery hopes. Six-month-old horizontal line guards immediate upside, bears need a clear break of 0.7520. AUD/USD remains sidelined around 0.7550, edges lower of late, during Friday’s Asian session. In doing so, the Aussie pair portrays a

Private sector employment in Canada continued to increase in May. USD/CAD clings to strong daily gains above 1.2330. Private sector employment in Canada increased by 101,600 jobs from April to May, the ADP Research Institute revealed in its monthly report on Thursday. This reading followed the previous print of 101,300 (revised from 351,300). Commenting on

May month employment statistics from the Australian Bureau of Statistics, up for publishing at 01:30 GMT on Thursday, will be the immediate catalyst for the AUD/USD pair traders. The figures become all the more important after the Reserve Bank of Australia’s (RBA) governor recently sounded cautious over the wage growth by nudging away rate hikes

Housing Starts in US rebounded following April’s sharp decline.  US Dollar Index extends sideways grind around 90.50. Housing Starts in the US rose by 3.6% on a monthly basis in May following April’s drop of 12.1% (revised from -9.5%), the data published jointly by the US Census Bureau and the US Department of Housing and

AUD/JPY trades cautiously in the Asian session. AUD remains grounded on upbeat economic data. Yen gains on its safe-haven appeal. The AUD/JPY cross-currency pair seesaws in the Asian trading session on Wednesday. The cross confides in a very narrow trading band. At the time of writing, AUD/JPY trades at 84.61, up 0.01% for the day.

Since June 3 earnings, DOCU stock has soared. Docusign shares now face critical resistance. DOCU stock is flat in Tuesday’s premarket. After a parabolic rise that saw Docusign (NASDAQ: DOCU) stock break out of its YTD descending price channel last week, the e-signature titan now approaches plenty of resistance between $262.65 and $268.80. Shares of Docusign closed

GBP/USD struggles to keep the bounce off monthly low. EU warns over UK’s reputation, France signals retaliation if London breaks Brexit deal. UK PM Johnson officially announced four-week delay to earlier June 21 unlock deadline. UK jobs report for May, US Retail Sales and pre-Fed sentiment will be the key. GBP/USD remains sidelined above 1.4100,

USD/CAD continues to trade near monthly high set on Friday. Rising crude oil prices help CAD limit its losses. US Dollar Index extends sideways grind around 90.50. The USD/CAD pair reached its highest level since mid-May at 1.2178 on Friday and seems to have gone into a consolidation phase on Monday. As of writing, the

Oil is firm in the open as market attention switches to the Fed.  Bulls seeking to retest the multi-year highs.  US West Texas Intermediate (WTI) is trading at $70.98 and within a range of $70.69 and $71.01 at the time of writing. WTI is continuing to correct following the sell-off from a multi-year high scored on

What you need to know on Monday, June 14: The dollar advanced on Friday, to close the week with gains against all of its major rivals. However, no critical threshold was broken. Demand for the American currency was backed by solid US data, which points to an underway economic comeback, as the preliminary estimate of

Previewing next week’s FOMC meeting, “given recent data the economic projections of FOMC participants are likely to see an upward revision for PCE inflation in 2021 and the dot plot may be getting closer to a rate hike before the end of 2023,” said Rabobank analysts. Key quotes “The Fed is pushing back verbally against

British Prime Minister Boris Johnson is planning to delay the lockdown lift to July 19, which was originally scheduled to take place on June 21, to July 19 amid rising cases of the coronavirus Delta variant, The Sun reported on Friday. According to the news outlet, the UK will have a two-week review and could

UK PM Johnson planning to postpone June 21 lockdown lift – The Sun British Prime Minister Boris Johnson is planning to delay the lockdown lift to July 19, which was originally scheduled to take place on June 21, to July 19 amid rising cases of the coronavirus Delta variant, The Sun reported on Friday. According

Strategists at Capital Economics think that inflation in the US will prove more persistent than both the Fed and investors appear to anticipate. Notwithstanding, they still expect the S&P 500 to make some further gains over the next couple of years. Higher inflation not to derail US equities “We still expect the US economy to

USD/JPY remains subdued on Friday. Lower US Treasury yields undermine the demand for the US dollar. Yen gains as GDP shrink less than expected. The selling pressure surrounding the US dollar keeps USD/JPY off the cliff in the initial Asian trading hours. The USD/JPY pair touched the intraday high of 109.79 in the New York