FX

ICE Brent pushed above US$77/bbl yesterday with sentiment still largely supportive following a stronger physical market, ING’s commodity analyst Ewa Manthey and Warren Patterson note. Strength in the market continues in early morning trading “Concerns over Iranian and Russian oil flows will also be providing some support. There were reports yesterday that a port operator

EUR/USD inches lower to 1.0370 on Tuesday after repeated rejections at the 20-day SMA. The RSI rises to 45, suggesting improving momentum but still hinting at a cautious outlook. MACD shows flat green bars, indicating easing bearish pressure yet no clear bullish shift. EUR/USD managed to climb towards the 1.0370-1.0390 area at the begging of the

Silver price gains momentum as the weakening US Dollar makes the metal more accessible to buyers holding foreign currencies. The US Dollar faces challenges following reports of the incoming Trump administration adopting a more targeted approach in applying tariffs. Silver demand increases as China commits to adopting “more proactive” macroeconomic policies and lowering interest rates

Federal Reserve (Fed) Board Member and Vice Chair for Supervision will be stepping down from his regulatory role. The announcement came from a Federal Reserve press release and is expected to take place at the end of February. Fed’s Barr to step down from bank oversight role effective February 28, or when a successor is

Gold price attracts some follow-through selling for the second successive day on Monday.  The Fed’s hawkish shift remains supportive of elevated US bond yields and exerts pressure.  Geopolitical risks and trade war fears could offer some support to the safe-haven XAU/USD. Gold price (XAU/USD) turns lower for the second straight day following an intraday uptick

GBP/USD climbed back above the 1.2400 handle on Friday. Markets pivoted into a cautiously risk-on stance to end the week. UK data broadly missed the mark on Friday, US PMI figures beat the street. GBP/USD found a thin recovery on Friday, gaining roughly four-tenths of one percent and ending the first trading week of 2025

Gold bids cooled back below $2,650, crimping the week’s gains at the tail end. Market risk appetite recovered on Friday after US ISM data improved. Fedspeak further cooled investors concerns, Fed’s Barkin soothes market concerns. XAU/USD dipped on Friday, with Gold prices falling roughly two-thirds of a percent and dipping back below $2,650 per ounce

GBP/USD found a thin recovery on Friday, gaining roughly four-tenths of one percent and ending the first trading week of 2025 back above the 1.2400 handle. UK macroeconomic and consumer credit data broadly missed the mark early on Friday, but the low-tier figures barely registered on the needle. On the US side, US business activity

EUR/USD finds interim support near 1.0220; however, more downside looks likely. The Fed is expected to cut interest rates two times this year. Investors await the US ISM Manufacturing PMI and the German HICP data for December. EUR/USD finds temporary support in Friday’s North American session after diving to near 1.0220 on Thursday, the lowest level

The business activity in the US manufacturing sector contracted at a softer pace than expected in December. The US Dollar Index stays in negative territory near 109.00. The business activity in the US manufacturing sector continued to contract, albeit at a softening pace in December, with the ISM Manufacturing PMI rising to 49.3 from 48.4 in November.

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The Dow Jones cycled near familiar levels on the first trading day of 2025. Tepid intraday flows crimp hopes for a ‘Santa Clause rally’. Initial Jobless Claims improved, but not enough to spark a firm risk-on bid. The Dow Jones Industrial Average (DJIA) fizzled on Thursday, kicking off the 2025 trading year with a flat

NZD/USD appreciates as traders closely monitor signs of a potential recovery in China’s economy. Chinese President Xi Jinping announced on Tuesday that China will adopt more proactive policies in 2025 to stimulate economic growth. US weekly Initial Jobless Claims and S&P Global Manufacturing PMI for December will be eyed on Thursday. NZD/USD extends its gains

XAU/USD is holding north of $2,600/ounce, but topside momentum remains limited. Another spat of risk-off market sentiment pushed Gold higher on the year-end market session. Global markets will largely be shuttered on Wednesday for the New Year’s holiday. XAU/USD caught a bid on a quiet Tuesday, rising back into $2,625.00 per ounce after taking a

GBP/USD is positioned above the descending channel, suggesting a weakening bearish bias. The descending channel’s upper boundary acts as primary support near the 1.2540 level. The immediate resistance appears at its nine-day EMA at 1.2565 level. GBP/USD retraces its recent losses, trading around 1.2550 during the European hours on Tuesday. The daily chart analysis suggests

EUR/USD may depreciate further as the short-term price momentum is weaker. The initial support appears at its two-year low of 1.0332, recorded on November 22. The nine-day EMA acts as immediate resistance at the 1.0417 level. EUR/USD recovers its recent losses from the previous session, trading around 1.0410 during the European hours on Tuesday. A

USD/JPY depreciates as traders assess the market sentiment of the BoJ raising interest rates in January. The Japanese Yen is set to decline more than 10% against the US Dollar in 2024. US Treasury yields fell by approximately 2% with 2-year and 10-year yields at 4.24% and 4.53%, respectively, on Monday. USD/JPY extends its losses

Markets are struggling to find a reason to move too much in either direction ahead of the New Year’s market closures, which will see most global exchanges shuttered during the middle of the trading week. Here’s what you need to know heading into Tuesday, December 31 The US Dollar Index (DXY) churned in place on