FX

Previewing next week key data releases from the US, “payrolls probably rose strongly by pre-covid standards but we see some downside risk versus the consensus again this month,” said TD Securities anaysts.  Key quotes “Our forecast implies a still-sizeable 7.7mn net decline from the pre-COVID level. The unemployment rate probably resumed its downtrend after a surprising
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Turkish Finance Minister Lutfi Elvan said on Friday that he expects the economy to grow by 6% in the first quarter, as suggested by the economic indicators. Additional comments “Expected this trend to continue with the support of external demand.” “Government’s priorities are price stability, controlling current account deficit, boosting labor market.” more to come
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Silver once again managed to find decent support near the $27.45 confluence support. Mixed oscillators on hourly/daily charts warrant caution before placing directional bets. Silver attracted some dip-buying near the lower end of its weekly trading range, around the $27.45 region and refreshed daily tops during the early part of the European session. The mentioned
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The US dollar is lurching lower with some key developments pointing to further weakness over the short-term such as USD/CNY – a key currency pair not just for Asia but for G10 also – breaking key technical support at 6.4000 with no obvious sign of opposition from the Chinese authorities, economists at MUFG Bank report.
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USD/CAD is currently consolidating around the lowest levels since 2017.  Bulls are looking for an upside correction on a monthly basis as accumulation kicks in.  Funds travelled between a high of 1.2078 and 1.2029 on the day with some upside pressure, rising 0.12% at the time of writing.  The loonie edged lower against its broadly
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What you need to know on Monday, May 24: The greenback recovered on Friday, ending the week mixed across the FX board.   The American appreciated following upbeat US data and comments from Federal Reserve officials suggesting a sooner rather than later discussion on tapering amid signs of heating inflation. On Friday, Atlanta Federal Reserve President
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Gold price retested three-month highs of $1890, although settled the week near $1880 levels, registering the third straight week of gains. Gold price remained undeterred by the FOMC minutes, which offered subtlest hints on tapering, as growing inflation risks continued to support the traditional inflation hedge. Further, persistent weakness in the US dollar and the
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The Swiss National Bank (SNB) Chairman Thomas Jordan made some comments on the monetary policy outlook and exchange rate value, in an interview with Swiss daily Neue Zuercher Zeitung on Saturday. Key quotes “The franc remains highly valued.” “Inflation is only slightly above zero.” “Productive capacities are not fully utilized in Switzerland.” “Against this background,
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