FX

Share: GBP/USD gains some confidence for new higher high [Video] GBPUSD stepped on the 20-day simple moving average (SMA) and climbed back above the broken short-term support trendline from October at 1.2720, reviving hopes that the soft four-day bullish wave could gain extra legs in the coming sessions. Read more… [embedded content] GBP/USD Price Analysis: Consolidates

Share: Australia’s Retail Sales, a measure of the country’s consumer spending, improved 2.0% MoM in November from the previous reading of a 0.2% drop, according to the official data published by the Australian Bureau of Statistics (ABS) on Tuesday. The figure came in better than the market expectation for an increase of 1.2%. Market reaction

Share: European Central Bank (ECB) Governing Council member Boris Vujcic said on Monday that he thinks the Eurozone will be able to avoid a recession, as reported by Bloomberg. Vujcic noted that he also expects inflation to slow gradually, adding that they are not discussing rate cuts and they probably will not do so before summer. 

Share: The Federal Reserve (Fed) Bank of Dallas President Lorie Logan said on Saturday that the central bank may need to continue raising its short-term policy rate to keep a recent decline in long-term bond yields from rekindling inflation. Key quotes “Premature easing of financial conditions could allow demand to pick back up.” “If we

Share: DXY Index retreats after the latest string of US data holds onto weekly gains United States NFPs from December were higher than expected, as well as Average Hourly Earnings, while the Unemployment Rate stood at 3.7%. The Services ISM PMI from the same month was disappointing. The US Dollar (USD), represented by the Dollar

Share: EUR/USD whipped in hectic Friday action following Eurozone inflation, US labor data. European inflation continues to hamper the ECB, while US jobs data beat the street. EUR/USD wraps up the week near 1.0940. The EUR/USD fell to a three-week low on Friday after European inflation rebounded higher in December, with the Eurozone Harmonized Index

Share: The Canadian Dollar is etching in a broad range on NFP Friday. Canada jobs additions crumble, US jobs easily beat the street. Despite weak labor figures, Canadian wage pressures persist. The Canadian Dollar (CAD) slumped to a new low for the week against the US Dollar (USD) before surging to a three-day high as

Share: Mexican Peso gains against USD, with USD/MXN falling to 16.87 after US jobs data shows higher-than-expected employment growth. Banxico’s recent minutes highlight ongoing inflation challenges, affirming the need for stable interest rates. Economic data from the United States was mixed, though it maintains a Goldilocks scenario. US Treasury yields rise as market expectations for Fed

Share: USD/CAD has climbed to near 1.3380 as investors turn anxious ahead of US labor market data. The Unemployment Rate in the US and Canada in December is seen at 3.8% and 5.9% respectively. A decisive break above 23.6% Fibo retracement has improved appeal for the Loonie asset. The USD/CAD pair prints a fresh two-week

Share: NZD/JPY’s 0.70% surge driven by Japanese Yen’s broad weakness, indicating a bullish turn above the Ichimoku cloud. Upcoming resistance challenges include cycle high at 90.43 and the key 91.00 psychological level. Bears could regain ground, targeting supports at Kumo’s top, the Kijun-Sen, and Kumo’s bottom. The NZD/JPY soared sharply and posted gains of more

Share: USD/CAD falls sharply to near 1.3320 amid a correction in the USD Index. Investors await the US/Canada labour market data for further guidance. The Loonie asset struggles to break above the 23.6% Fibo retracement. The USD/CAD pair falls sharply after failing to extend upside above 1.3370. The Loonie asset has dropped to near 1.3320

Share: GBP/USD clings to mild losses near 1.2665 on the firmer USD. Richmond Fed Barkin said the potential for additional rate hikes remains on the table. The fear of recession in the UK economy weighs on the British pound (GBP). Investors await the UK Composite PMI and the US ADP Employment Change. The GBP/USD pair

Share: Gold price pares intraday gains as bets in favour of early rate cuts by the Fed drop slightly. Action in the FX domain could turn volatile as FOMC Minutes and Manufacturing PMI are due for release. The US Dollar Index recovers as upbeat sentiment-based rally pauses. Gold price (XAU/USD) surrenders gains generated in the

Share: Canadian Dollar falls back as broader markets reverse into Greenback bids. Canada economic data continues to slump, Manufacturing PMI flubs expectations. Crude Oil continues to slip, dragging down the Loonie. The Canadian Dollar (CAD) continues to ease back as the 2024 trading year gets underway, extending near-term declines against the US Dollar (USD) to

Share: Gold price moves higher as Fed’s rate-cut bets persist. This week, the US NFP and ISM PMI reports will guide further action in the FX domain. The US Dollar advances further ahead of crucial economic data. Gold price (XAU/USD) kicks-off the 2024 year on a promising note, demonstrating a firm-footing on Tuesday amid prospects

Share: The DXY jumped towards 101.30 after bottoming near 101.20.  The only highlight during the session was December’s Chicago PMI, which came in lower than expected. US Treasury yields gained some ground but remain near multi-month lows. The DXY will post a modest 2% yearly loss, opening the 2023 above 103.00 and closing just above 101.00.

Share: USD/JPY stuck to 141.00 as markets head towards 2024. Greenback shed a third of a percent against the Yen on the last Friday of 2023. USD/JPY down a full percent on the week, but up 7% on the year. The USD/JPY is back into the 141.00 handle as the pair struggles to accelerate momentum

Share: Gold price falls back $2,065 as the impact of deep Fed rate cut hopes start fading away. The Fed is expected to start cutting interest rates from March 2024. Next economic triggers for the Gold price will be US Employment and Manufacturing PMI data. Gold price (XAU/USD) has extended its correction but a consolidation is likely ahead