FX

GBP/USD analysis: Reaches below 1.3750 The 1.3820 level provided enough resistance for the GBP/USD to pass below the lower trend line of the channel down pattern, which guided the rate since June 23. During Friday’s trading hours, the rate fluctuated sideways near the 1.3750 mark. In theory, the pair should decline, as it has no

The US economy is expected to grow by 3.2% and 3.9% in the second and the third quarter of 2021, respectively, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. “News from this week’s data releases decreased the nowcast for 2021:Q2 by 0.2 percentage point and decreased the nowcast for 2021:Q3

NZD/USD remains under pressure in the Asian trading hours. More downside envisioned for pair if price decisively breaks 0.6960. Momentum oscillator holds onto the oversold zone with negative bias. NZD/USD  extends the previous day’s losses on Friday. The pair started the fresh month of trading on a lower note. At the time of writing, NZD/USD is

Mexican peso falls for the second day in a row versus the US dollar. USD/MXN turns bullish in the short-term, next resistance at 20.25. The USD/MXN is rising again on Thursday, and it climbed to 20.07, the highest level in a week. It is hovering near the top with the bullish tone intact. More gains

YSE:CCIV adds 7% on Monday as merger date nears. CCIV and Lucid vote to be held on July 22. Merger should then go ahead on July 23 if the vote passes. Update June 29: Churchill Capital Corp IV snapped its two-day losing streak and rallied over 7% on Monday, kicking off the week on a positive

It is the end of the month – and the quarter – and money managers are rushing to adjust their portfolios, unwinding some of the recent market moves. For gold, that means reversing Tuesday’s fall to the lowest levels since April. That drop was attributed to new Basel III regulations and also to the Fed’s

AAPL shares add another 1% so far on Tuesday and are close to breaking $137 resistance. Apple builds on Monday’s strong bullish continuation candle, breaking $135.51. AAPL stock targetting next resistance at $137 where it can gap higher from. Update June 30: Apple shares kept pushing higher on Tuesday, sharply up for the second straight

USD/JPY lost its traction during the American trading hours. US Dollar Index stays in the positive territory above 92.00. 10-year US Treasury bond yield erased majority of daily gains. Following Monday’s decline, the USD/JPY pair staged a technical correction and rose above 100.70 during the European trading hours. Nevertheless, the pair lost its traction in

WTI extends the previous day’s decline on profit taking. Spinning top near the YTD high builds up downside pressure. Momentum oscillator tilts in favor of bears, awaiting confirmation. Crude oil gathers downside momentum with substantial losses in the Asian session. After touching YTD high at $74.10, prices fell sharply to close near $72.89. At the

USD/JPY lost its traction after rising to 111.00 on Monday. 10-year US Treasury bond yield is down more than 3%. US Dollar Index struggles to break above 92.00. The USD/JPY pair advanced to a daily high of 111.00 during the European trading hours but reversed its direction in the early American session. As of writing,

GBP/USD Price Analysis: Bulls battle against gravity Early forex prices have cable starting out on the bid by some 20 pips. However, the bulls are up against a strong bearish bias as the monthly chart and structure illustrate: The triple top is bearish and the break of support for a fresh low is also painting a bearish bias

What you need to know on Monday, June 27: The dollar advanced on Friday on the back of higher US PCE inflation, which rose in May 3.4% YoY, its highest reading in almost three decades.  Gains however were modest and the dollar ended the week with modest losses. US stocks soared, with the Nasdaq and

GBP/USD Weekly Forecast: UK GDP, Delta covid strain woes may exacerbate BOE-led pain GBP/USD hit by dovish BOE, Delta plus covid strain despite Fed’s mixed signals. The cable’s fate hinges on UK quarterly GDP, Brexit updates and US data. GBP/USD decline is far from over, speculative interest aims to 1.3660. Central banks’ monetary policy signals

Boston Federal Reserve President Eric Rosengren said on Friday that they have to think about some of the side effects of a low-for-long interest rate strategy, as reported by Reuters. “Monetary policy may not be able to be accommodative for as long if financial stability risks are not addressed,” Rosengren further argued. “I’m worried that if

On Thursday, the Bank of Mexico unexpectedly rose the key interest rate by 25 basis points to 4.25%; it was the first hike since 2018. As a consequence, analysts at Rabobank have shifted their USD/MXN point forecast from 20.5 in one month to 20, with the risk skewed to the downside. They still expect the

S&P 500 Futures edge higher after refreshing record top the previous day. Biden’s infratructure spending and EU-US trade optimism battle Fed’s move, covid woes amid a quiet session. US Core PCE, Fedspeak will be the key to follow for fresh impulse. S&P 500 Futures remain firmer around all-time high, flashed Thursday, amid subdued markets on

Atlanta Federal Reserve President Raphael Bostic said on Thursday that FOMC policymakers need to aim for both growth and sustainability, as reported by Reuters. “Business leaders are reluctant to hire to full capacity because they don’t know what steady state is,” Bostic noted. “It’s still a very open question if there will be less demand

Bears are moving in at an acritical level of resistance confluence. EUR/JPY bears are seeking a test of the 4-hour support structure.  At the highs of 132. 70, EUR/JPY is testing the critical counter-trendline and the confluence of the 21-EMA as well as the horizontal resistance with the 61.8% Fibonacci retracement slightly below.  The following illustrates