FX

Upside momentum firming and Commodity Trading Advisors (CTAs) in Crude Oil remain on the bid, TDS commodity strategists note. Markets look to take profits on Oil “Crude oil continues to prove resilient, with upside momentum firming and CTAs remaining on the bid. However, we still argue that the rally could start to fade as these CTA

The UK Office for National Statistics will publish the May CPI report on Wednesday. UK inflation is expected to cool down, falling back to the BoE´s target. The Bank of England will announce its decision on monetary policy on Thursday. The Pound Sterling is expected to post a wild reaction to inflation data. The United Kingdom’s

Silver price rebounds strongly from $29.00 as slower US Retail Sales growth weighs on the US Dollar and bond yields. Sluggish US Retail Sales growth has prompted Fed rate-cut bets for September. US households cut spending on discretionary items. Silver price (XAG/USD) bounces back strongly from the crucial support of $29.00 in Tuesday’s American session.

Japanese Finance Minister Shunichi Suzuki said on Tuesday that interest rates are set by markets, reflecting JGB demand and various aspects. However, Suzuki declined to comment on the Bank of Japan’s (BoJ) decision last week on the planned reduction of JGB purchases.  Key quotes JGB yields are determined by the market. Aims to smoothly issue Japanese

Oil keeps pushing higher ahead of the US trading session.  Demand recovery faces substantial issues in the medium turn with the shift away from fossil fuels.  The US Dollar Index trades above 105.50 on the back of turmoil in the European bond market.  Oil prices are in positive territory at the start of this week,

USD/JPY gains traction around 157.50 on Monday, up 0.08% on the day.  The hawkish stance from the US Fed supported the Greenback, despite the weaker-than-expected Michigan Consumer Sentiment Index data.  BoJ kept short-term rate target unchanged and could reduce its purchases of JGBs after the next monetary policy meeting. The USD/JPY pair extends the rally

EUR/JPY trades at 168.43, marking the second consecutive day of losses due to political uncertainty in France. Technical outlook: Consolidation below 170.00 with potential further losses if price drops below the 50-DMA at 167.47. Key support levels: Kumo bottom at 165.92 and 100-DMA at 164.78, indicating acceleration of the downtrend if breached. The Euro tumbled

Gold soars above $2,330 as investors bet on Fed rate cuts later this year. Risk aversion due to European political turmoil boosts demand for safe-haven assets like gold. US Consumer Sentiment dips in June, inflation expectations remain above Fed’s 2% target. XAU/USD is underpinned by fall of 10-year US Treasury yield. Gold’s price spiked during

EUR/GBP is climbing on Friday after a dip to the 0.8400 handle. ECB soothing talking points are helping to recover sentiment, but only slightly. BoE rate call looms ahead next week, but rate moves not expected yet. EUR/GBP dipped to a fresh 22-month low on Friday, tapping 0.8400 before finding a thin recovery that still

Broadcom could be the next company to join the trillion dollar club. Wednesday’s earnings release showed another beat-and-raise announcement that has become commonplace. Markets consolidate on Friday after week’s CPI-led fireworks. Michigan Consumer Sentiment drains, sending NASDAQ lower. Broadcom (AVGO) stock exploded 12% on Thursday, quite a feat for a company already valued at more

USD/CAD rises further to 1.3770 as the Fed’s hawkish policy update dampens market sentiment. Fed Mester agreed that the disinflation process has resumed. Canada’s Manufacturing Sales grew by 1.1% in April on month, missing estimates of 1.2%. The USD/CAD pair extends its upside to near 1.3770 in Friday’s American session. The Loonie asset strengthens as

Japanese Finance Minister Shunichi Suzuki said on Friday that he aims to achieve the primary balance goal. He further stated that he will keep an eye on China’s excess production on the Japanese economy.  Key quotes Aims to achieve primary balance goal.  Will monitor the impact of China’s excess production on the Japanese economy. Poised to

Natural Gas falls lower with markets having difficulties digesting Fed’s communication. German utility company Uniper terminates Gas supply contracts with Russia’s Gazprom after a court ruling. The US Dollar Index trades sideways after a very volatile session on Wednesday.  Natural Gas price (XNG/USD) sinks lower by more than 1%, turning red after a green bounce

Bank of Canada (BoC) Governor Tiff Macklem reiterated on Wednesday that there is a limit to how far the Canadian central bank can diverge on rates from the Federal Reserve (Fed), but they’re not close to that limit.   Key quotes “For many of our citizens, this has been their first experience with high inflation, and

Inflation in the US, as measured by the change in the Consumer Price Index (CPI), declined to 3.3% on a yearly basis in May from 3.4% in April, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 3.4%. Join our Live Coverage here. The annual

USD/JPY trades in positive territory for the fourth consecutive day on Wednesday.  The US CPI inflation report and the Fed interest rate decision will be closely watched later on Wednesday.  The BoJ is expected to keep the short-term policy rate steady at 0-0.1% at its June meeting on Friday.  The USD/JPY pair extends the rally near

Natural Gas price shows no signs of fatigue and resides near the high of 2024. Chevron’s Wheatstone LNG plant ountage causes supply tightening. The US Dollar Index resides near 105.00 ahead of Wednesday’s CPI and Fed meeting. Natural Gas price (XNG/USD) trades higher on Tuesday, nearing a fresh yearly high, as Europe discusses ways of

NZD/USD edges lower near 0.6130 in Tuesday’s early Asian session. Any signs of US inflation data improvement might trigger the Fed to cut rates in the coming months.  The RBNZ’s hawkish stance might continue to support the Kiwi in the near term.  The NZD/USD pair trades on a softer note around 0.6130 on Tuesday during