FX

Canadian Dollar propped up by broad-market, risk-on sentiment. Canada has a resilient financial system, says BoC Macklem. Canadian labor numbers slated to print on Friday. The Canadian Dollar (CAD) found some bids on Thursday after investors’ risk-appetite stepped up, bolstering markets out of safe-havens like the US Dollar (USD). The Greenback is broadly softer on

The Australian Dollar has halted its losses after Chinese Trade data due to the trade relationship between Australia and China.  Australian Retail Sales declined in the first quarter, swinging from the previous quarter’s growth. The US Dollar rose due to expectations of the Fed maintaining higher interest rates for an extended period. The Australian Dollar

Canadian Dollar rebounds after previous day’s downside. Canada is absent from the economic calendar on Wednesday. BoC’s Macklem due Thursday to deliver latest Financial System Review. The Canadian Dollar (CAD) rebounded across broader markets on Wednesday, regaining ground lost in the previous sessions. Markets remain thin as traders await meaningful data and watch for talking

Japanese Finance Minister Shunichi Suzuki said on Wednesday that rapid foreign exchange (FX) movements are undesirable. However, Suzuki declined to comment on whether the US has agreed on Japan’s FX intervention. Key quotes “Disorderly FX movements negatively impact the economy.” “Cannot comment on whether the US has agreed on Japan’s FX intervention.” “FX influenced by

Gold price is weakening on Tuesday on the back of a rise in the US Dollar.  The USD’s recent decline was due to weak US jobs data, but Fed commentary put a floor under the sell-off.  Fed policymakers made it clear they are still not in a hurry to cut interest rates, boosting the Greenback. 

GBP/USD extends the rally above 1.2550, eyes on BoE rate decision The GBP/USD pair trades in positive territory for the fifth consecutive day near 1.2560 during the Asian session on Tuesday. The weaker US Dollar (USD) provides some support to the major pair. The Bank of England (BoE) interest rate decision on Thursday will be

The US Dollar heads back to flat after taking a step back earlier. The Greenback gave up its earlier gains against the Chinese Yuan and the Japanese Yen this Monday.  The US Dollar Index trades near 105.00 and flirts with a break below.  The US Dollar (USD) sees traders piling back into trades and bets that

WTI price gained ground after Saudi Arabia increased the Official Selling Prices (OSPs) for Oil sold to most regions. OPEC+ producers are prepared to prolong voluntary output cuts of 2.2 million barrels per day beyond June. Oil prices edged up due to concerns about the potential failure of a Gaza ceasefire deal. West Texas Intermediate (WTI)

The daily indicators hint at a strengthening bullish momentum. Hourly indicators are consolidating after hitting overbought conditions earlier in the session. If the buyers regain the 100-day SMA, the bearish trend will be threatened. At the end of the week, the NZD/USD rallied to around 0.6050, up by 0.80%. Bullish momentum is picking up but

US Nonfarm Payrolls report from April underperformed, showing a lower-than-expected increase. The odds of a rate cut in September increased, which seems to be applying pressure on the USD. The US Dollar Index (DXY) is visiting the 105 level with sharp losses at the end of the trading week. This comes after Friday’s report of

GBP/USD down 0.06% after reaching a three-week high of 1.2634. RSI flattening suggests normalization of buying pressure. Support levels at 1.2500, 1.2474, and 1.2466; breach may test 1.2400. Resistance at 200-DMA, 1.2600, and DMAs at 1.2612 and 1.2644. The Pound Sterling holds to gains versus the US Dollar yet retraced from three-week highs reached at

GBP/USD Price Analysis: Bears in charge as ‘shooting star’ looms The Pound Sterling holds to gains versus the US Dollar yet retraced from three-week highs reached at 1.2634 following a softer than expected US Nonfarm Payrolls report. However, buyers lacked the strength to keep prices above 1.2600, opening the door for a test of the 200-day moving average (DMA).

US ISM Services PMI dropped into the contraction territory below 50 in April. US Dollar Index stays in negative territory below 105.00. Business activity in the US service sector contracted in April, with the ISM Services PMI edging lower to 49.4 from 51.4. in March. This reading came in below the market expectation of 52.0.  Other details

Indian Rupee drifts higher on Friday amid the softer Greenback.  The positive outlook in the Indian economy and capital inflows support the INR.  Investors await the US ISM Services PMI and the employment data on Friday.  Indian Rupee (INR) gains momentum on Friday as the cautious comments by the Federal Reserve (Fed) Chair Jerome Powell

Oil took it on the chin with a 5.5% in just three trading days.  WTI Oil’s recovery to $80 gets cut short by positive news from Hamas. The US Dollar Index holds ground above 105.50 and trades flat ahead of weekly Jobless Claims.  Oil prices are giving up their gains for this Thursday and are at risk

The Japanese Yen rallied on Wednesday amid speculations of another intervention by authorities.  The momentum, however, runs out of steam on the back of the divergent BoJ-Fed policy outlooks. Traders now look to the second-tier US data for some impetus ahead of the NFP report on Friday. The Japanese Yen (JPY) surged to over a

Silver price rebounds sharply from $26.30 as US Manufacturing PMI contracted in April. The speculation for Fed’s hawkish interest rate outlook remains firm as Manufacturing Price Paid rise above 60.0. Investors await the Fed’s policy decision for meaningful guidance. Silver price (XAG/USD) recovers strongly from four-month low of $26.30 as the United States Institute of

Gold price trades on a positive note near $2,288 on Wednesday.  The Federal Reserve is widely expected to keep rates steady; Fed’s Powell is anticipated to maintain a hawkish stance.  The rising geopolitical risks could boost traditional safe-haven assets like gold.  Gold price (XAU/USD) posts modest gains around $2,288 on Wednesday during the Asian session. The precious metal edges higher as markets