FX

Share: Canadian Dollar falls back as broader markets reverse into Greenback bids. Canada economic data continues to slump, Manufacturing PMI flubs expectations. Crude Oil continues to slip, dragging down the Loonie. The Canadian Dollar (CAD) continues to ease back as the 2024 trading year gets underway, extending near-term declines against the US Dollar (USD) to

Share: Gold price moves higher as Fed’s rate-cut bets persist. This week, the US NFP and ISM PMI reports will guide further action in the FX domain. The US Dollar advances further ahead of crucial economic data. Gold price (XAU/USD) kicks-off the 2024 year on a promising note, demonstrating a firm-footing on Tuesday amid prospects

Share: The DXY jumped towards 101.30 after bottoming near 101.20.  The only highlight during the session was December’s Chicago PMI, which came in lower than expected. US Treasury yields gained some ground but remain near multi-month lows. The DXY will post a modest 2% yearly loss, opening the 2023 above 103.00 and closing just above 101.00.

Share: USD/JPY stuck to 141.00 as markets head towards 2024. Greenback shed a third of a percent against the Yen on the last Friday of 2023. USD/JPY down a full percent on the week, but up 7% on the year. The USD/JPY is back into the 141.00 handle as the pair struggles to accelerate momentum

Share: Gold price falls back $2,065 as the impact of deep Fed rate cut hopes start fading away. The Fed is expected to start cutting interest rates from March 2024. Next economic triggers for the Gold price will be US Employment and Manufacturing PMI data. Gold price (XAU/USD) has extended its correction but a consolidation is likely ahead

Share: The Euro wavers around 1.1050  in a choppy year-end trading session. Investors bets on Fed cuts in 2024 keep USD buyers in check. US data released on Thursday strengthened the case for a soft landing in Q4. ​​​The Euro (EUR) is trading moderately lower on Friday, weighed by a mild US Dollar recovery in a

Share: USD/JPY remains above the 141.00 psychological level amid a weaker US Dollar. The immediate resistance could be at the 141.50 major level following the 142.00 level. Technical indicators suggest a bearish sentiment to retest the 141.00 psychological support. USD/JPY continues to experience declines, driven by the weakening US Dollar (USD) influenced by subdued US

Share: WTI declined on Thursday, extending losses as broad-market risk flows reverse direction. Crude Oil markets are facing declines, shrugging off an unexpected decline in US crude stocks. Rough year-end markets are pulling down barrel prices to close out 2023. West Texas Intermediate (WTI) US Crude Oil extended a decline on Thursday, backsliding into the

Share: The Swiss Franc finishes 2023 as the top G10 performer. Economists at ANZ Bank analyze CHF outlook. Weaker EU growth is associated with a stronger CHF TWI on a broader time horizon We think the SNB will be less concerned with supporting CHF strength in 2024. Weaker EU growth is associated with a stronger

Share: The DXY Index fell to its lowest level since July, below 101.00. Markets are placing bets on six rate cuts by the Federal Reserve for 2024. As for now, investors are pricing in the first cut in March. The US Dollar (USD) continues to experience sharp losses, with the US Dollar Index (DXY) trading

Share: Russian Deputy PM Alexander Novak expressed his view on oil supply cuts and Brent oil prices in 2024, in his appearance on Wednesday. Key comments Russia is a responsible participant of OPEC+ agreement Our companies are sticking to their obligations on supply cuts. Russia ensures stable work of oil industry and its strategic development.

Share: The US Dollar is rebounding from Friday’s selloff as investors gear up for holiday. The Loonie briefly rallied to a fresh 19-week high as rate-hungry markets pummel the USD. USD/CAD set for a fifth weekly decline in six straight weeks. The USD/CAD pared back above 1.3260 after plunging to a fresh 19-week low on

Share: Gold pulls back after testing $2,070 ahead of Friday’s pre-holiday close. Rising investor bets of faster, more frequent Fed rate cuts squeeze Gold higher. US inflation continues to cool off, Treasuries ease back amidst risk appetite recovery. XAU/USD briefly tested above $2,070 on Friday before paring back toward the day’s opening bids. With the

Share: The Mexican Peso hit a 15-week high against the US Dollar on Friday. Mexico’s unadjusted Trade Balance hit a nine-month high in November. Friday marks the last trading day before the holiday break. The Mexican Peso (MXN) rallied to a fresh 15-week high on Friday as the broader market took one last opportunity to

Share: The GBP/USD is holding on the high side after US PCE inflation settled further on Friday. UK Retail Sales grew in November, Pound Sterling bidders shrug off UK GDP QoQ decline. US Dollar flows are decidedly bearish, propping up the broader market. The GBP/USD is on the high side amidst some rough chop in

Share: The GBP/USD is on the high side amidst some rough chop in the US market session, holding above the 1.2700 handle the pair reclaimed during the European trading window after the UK reported better-than-expected Retail Sales in November. Read More… The Pound Sterling (GBP) extends its recovery on Friday, supported by upbeat UK Retail Sales data

Share: Economists at Danske Bank view narrowing rate differentials between Japan and G10 to favour the JPY over the coming year. Yield differentials to be a tailwind for the JPY over the coming year We forecast USD/JPY to steadily decline below 135 on a 12M horizon. This is primarily because we believe that long US

Share: DXY Index plunged towards the 101.90 area, posting 0.40% daily losses. Gross Domestic Product of the United States expanded at an annual rate of 4.9% in Q3, revised from 5.2% US Jobless Claims accelerated in the second week of December. The US Dollar (USD) measured by the DXY index plunged to 101.90 and nears