FX

Share: Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes JPY outlook as the Yen is beginning to look at the BoJ meeting. BoJ in focus The Q1 real GDP gain of 2.7% saar, compares with a 25-year average growth rate of 0.7% and the 2% (YoY) deflator compares to a 25-year average of

Share: USD/CHF shows bullish momentum, targeting the 0.9100 mark with 0.27% gains. RSI and three-day RoC indicators suggest bullish dominance despite sideways movement. Overcoming the 0.9120 hurdles could steer the USD/CHF toward the 0.9147 and 0.9200 landmarks. USD/CHF bounces off the 50-day Exponential Moving Average (EMA) and threatens to claim the 0.9100 figure late after

Share: Economists at Credit Suisse analyze USD/INR outlook ahead of the Reserve Bank of India (RBI) meeting. RBI will intervene to enforce an 81.00-83.00 USD/INR trading range We still think RBI intervention is the main driver for the USD/INR exchange rate. The RBI has intervened at 81.00 and 83.00 since October 2022. The decision to

Share: NZD/USD bulls are in riding the AUD´s coattails.  Focus will turn domestic with NZ GDP coming up.  NZD/USD has been range bound in the prior day following the Reserve Bank of Australia´s surprise hawkish hike. NZD/USD is steady in early Asia, sitting near 0.6075. ´´The Kiwi is little changed this morning and most crosses,

Share: Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the uptrend and went up by around 5.1K contracts on Monday. Volume, in the meantime, remained erratic and rose by around 20.5K contracts following the previous pullback. Natural Gas remains stuck within the range Prices of natural gas extended the

Share: USD/CHF takes a hit as weaker-than-expected US economic data spur recession fears, driving the Swiss Franc up. From a technical perspective, the USD/CHF pair is neutrally biased, awaiting a fresh catalyst for definitive market direction. Amid mixed signals from market oscillators, expectations of a hawkish Swiss National Bank may provide a catalyst for further

Share: The Eurozone Sentix Investor Confidence index keeps falling, arriving at -17.1 in June from -13.1 booked in May vs. -9.2 expected. The Index on the Current Situation fell steeply to -15.8 from -7.0 in May, raising worries over a recession in the Eurozone already underway. The Sentix index for Germany in June fell to the lowest since

Share: Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, said on Sunday, “Saudi Arabia to make extra 1 mln b/d output cut from July.” Additional comments The Kingdom will extend its 500k barrels per day (b/d) voluntary cut until the end of 2024. Saudis will review extra voluntary cuts every month. Extra voluntary cut is

Share: The EUR/JPY trades for a second consecutive day with gains. Cross ends week with gains, but below 150.00. Yield divergence favours the Euro. The EUR/JPY closes the week trading with gains above 149.80 as the Yen weakened across the board on Friday, against its major rivals, including the Sterling Pound, Swiss, the US and

Share: GBP/JPY surges to year’s high, up by 0.18%, amid positive market sentiment. Expectations of a dovish Fed and resolution of the US debt-ceiling imbue strength to high beta currencies. Despite the overall upward bias, the technical outlook suggests potential downside pressure on GBP/JPY. GBP/JPY climbed to fresh year-to-date (YTD) highs at 174.68 before a

Share: US adds 339K jobs, beating estimates; EUR/USD slips by 0.43%. Federal Reserve’s hawkish outlook hints at a possible July FFR increase. Positive economic indicators from Europe, including Italy’s Industrial Production and Spain’s Unemployment Change. EUR/USD slumps from weekly highs reached as a knee-jerk reaction to a solid US jobs report, driving the pair towards

Share: Oil price recovers for the second day after the debt-ceiling bill gets voted through by the US Senate.  The possibility of OPEC+ announcing more production cuts at its June 4 meeting further supports Oil.  The breakeven price for the Saudis is $80 a barrel despite Russia downplaying the need for cuts. Nonfarm payrolls beats

Share: Economists at ING discuss USD outlook ahead of US NFP job data.  Dollar bias looks lower unless NFP comes in strong We would say that an on-consensus +195K increase in jobs, a 3.5% unemployment rate and a 0.3% MoM increase in hourly earnings would not be enough to shift the needle from the view

Share: EUR/JPY retakes the 149.00 area after three days of losses. Headline and Core HICP decelerated to 6.1% and 5.3% YoY in May in the EZ. ECB’s Christine Lagarde stated that she is not satisfied with the inflation outlook.  The EUR/JPY rebounded towards the 149.35 area after the bears got rejected at the 20-day Simple

Share: USD/JPY regains positive traction on Thursday and snaps a three-day losing streak. A goodish pickup in the US bond yields boosts the USD and lends support to the pair. Reduced bets for more Fed rate hikes and intervention warnings could cap the major. The USD/JPY pair stages a solid bounce from sub-139.00 levels, or

Share: USD/CAD bears are in the market which leaves prospects of a correction on the cards.  Support is playing its role and there is a focus on the Fibo scale.  The Canadian Dollar strengthened on the back of data showing the domestic economy grew stronger than expected in the first quarter. USD/CAD is now breaking important

Share: EUR/USD resumes the decline and retests 1.0670/60. The greenback appears well bid and weighs on the risk complex. Germany Unemployment Rate held steady at 5.6% in May. Sellers remain well in control of the sentiment around the European currency and now force EUR/USD to drop to 2-month lows near 1.0660 on Wednesday. EUR/USD weaker

Share: USD/CAD bulls are starting to graze on the bearish correction.  Trendline support could well be respected leading to a bullish continuation.  The Canadian dollar edged higher against the US Dollar on Monday as a deal to temporarily suspend the US debt ceiling boosted investor sentiment. Technically, however, the correction could be grazed upon by hungry bulls