FX

Share: Here is what you need to know on Tuesday, May 30: The US Dollar (USD) continues to gather strength against its rivals as trading conditions normalize following Monday’s subdued action. The US Dollar Index sits at its highest level since mid-March near 104.50 ahead of the Conference Board’s Consumer Confidence report for May and

Share: NZD/USD bulls coming into the market.  Bearish impulse could be on the verge of a significant correction.  NZD/USD bears are lurking in a shallow correction of the daily bearish impulse as the following will illustrate in a top-down analysis starting on the daily chart. NZD/USD daily chart The price is embedded below prior support

Share: Here is what you need to know on Monday, May 29: Following the choppy action witnessed ahead of the weekend, financial markets stay relatively calm early Monday amid thin trading conditions. UK markets are closed due to the Spring Bank Holiday and American traders will be enjoying a long weekend on Memorial Day. Later

Share: WTI crude oil closes higher, settling at US$72.67 per barrel, driven by mixed signals from OPEC+ regarding production cuts. Ongoing talks between the Biden Administration and House Republicans bring relief as a deal to raise the US debt ceiling nears completion. US inflation surges as consumer spending exceeds expectations, with the personal consumption expenditures

Share: NZD/USD bears eye a continuation below structure.  Bulls could be lurking at a key area of potential support.  NZD/USD remains on the backfoot following the Reserve Bank of New Zealand confirming it would ease mortgage loan-to-value ratio (LVR) restrictions from June 1. The technical outlook is bearish for the meanwhile, but there could be prospects

Share: Reuters reported that the US Treasury Secretary Janet Yellen spoke on Friday and extended the deadline for raising the federal debt limit, saying the government could default on its debt as early as June 5 without increasing the country’s $31.4 trillion debt ceiling. Yellen had previously put that date as in early June, or potentially

Share: In an interview with CNBC on Friday, Federal Reserve Bank of Cleveland President Loretta Mester said that the Personal Consumption Expenditures (PCE) Price Index released on Friday underscored the slow progress on inflation.  Breaking: US Core PCE inflation increases to 4.7% vs. 4.6% anticipated. “It’s probably not wise to sort of pre-guess what the meeting

Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite.  US Dollar corrects after strong rally, giving Oil a backdraught.   Oil price steadies on Friday after the previous day’s tumble, as

Share: Open interest in crude oil futures markets rose for the fourth session in a row on Thursday, this time by around 38.5K contracts according to preliminary readings from CME Group. Volume followed suit and went up for the third straight day, now by more than 84K contracts. WTI: Next on the downside comes $70.00

Share: EUR/JPY bulls ahve run into test the 150s. Resistance could prove tough and lead to a retest of trendline support. EUR/JPY is currently trading at 150.10 and has traveled between a low of 149.37 and a high of 150.15 so far on the day. The following illustrates the market that is attempting to break

Share: Open interest in gold futures markets dropped once again on Wednesday, this time by around 2.3K contracts according to preliminary readings from CME Group. Volume, instead, increased for the second session in a row, now by around 29.6K contracts. Gold: Next on the downside emerges $1950 Wednesday’s marked pullback in gold prices was on

Share: Gold price is attempting to move lower into support following FOMC minutes. Fed minutes show officials split on support for more hikes.  The Gold price is mixed around the Federal Open Market Committee minutes that showed that the board members agreed that inflation risks are still unacceptably high but officials also generally agreed that the extent

Share: The Reserve Bank of New Zealand (RBNZ) hiked its key policy rate by 25 bps to 5.5%. Following the decision, the New Zealand Dollar slumped. Economists at ING believe that NZD/USD could test 0.61. RBNZ may be done with tightening “The RBNZ surprised markets with a dovish 25 bps hike. The decision to hike

Share: USD/MXN reaches a three-week high amid actions by the Mexican Government, stirring uncertainty in the business community and resulting in outflows from the Mexican Peso. Despite positive talks between President Biden and House Speaker McCarthy, US debt-ceiling agreement remains elusive, casting a shadow over US economic data and causing a downturn in US equities.

Share: Silver price prints two-day downtrend, reverses Friday’s corrective bounce. Looming bear cross on MACD, sustained trading below 50-SMA keeps XAG/USD sellers hopeful. Silver sellers can keep 61.8% Fibonacci retracement on radar unless breaking $24.55 resistance. Silver Price (XAG/USD) remains on the back foot around the intraday low of $23.45 heading into Tuesday’s European session.

Share: On Monday, US House Speaker Kevin McCarthy expressed optimism about reaching a deal on the debt-limit with White House negotiators, stating that discussions had been productive leading up to a meeting with President Joe Biden later in the day. With the impending “June X” deadline approaching, McCarthy emphasized the need for decisions to be

Share: Further upside could still push USD/JPY to the 139.00 level and beyond, comment UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Key Quotes 24-hour view: “We noted last Friday ‘upward momentum appears to be slowing and USD is unlikely to advance much further’ and we expected USD to ‘trade

Share: WTI bulls move in for the kill from support. The $72s are on the bulls radar. WTI is trying to correct but remains down on the day as the black gold consolidates into the weekend at around $71.85. From a point of view from analysts at TD Securities, ´´the positioning set-up in energy markets remains extremely