FX

Share: The preliminary release published by Eurostat revealed on Friday that the Eurozone economy expanded by 0.1% on a quarterly basis in the three months to March of 2023, missing the 0.2% expected and against the no growth seen in the previous quarter. The bloc’s annual GDP rate grew by 1.3% in the first quarter (Q1)

Share: Amazon lapped earnings expectations for Q1. AMZN stock jumped 8.3% on the news. Most growth came from the North America segment. Resistance sits in the $120 to $122 range. Jeff Bezos couldn’t be prouder. Amazon (AMZN) stock popped more than 8% late Thursday on the retail/cloud powerhouse’s robust first quarter earnings beat. Amazon reported $0.31

Share: US GDP is forecast to grow at an annual rate of 2.0% in the first quarter of 2023. The US Dollar value will probably continue to be determined by risk perception. After data released by the US Bureau of Economic Analysis, markets will pay close attention to Q1 earnings reports. The Gross Domestic Product

Share: S&P 500 index is moving into what could be a support area after breaking the structure of 4,069.   The market will remain biased to the downside while below the 78.6% Fibonacci level and on the backside of the prior bullish trendline.  the S&P 500 dropped again on Wednesday and took out structure on

Share: Big-name tech earnings are in acute focus this week and Meta (formerly Facebook) will be eyed carefully by investors for signs of where the company is heading with the so-called ‘Metaverse’. The Metaverse idea seemed to be peaking as the Covid induced lockdowns kept everyone apart. However, with non-Covid life now being enjoyed by

Share: Microsoft beat Wall Street consensus on sales, revenue for FQ3. Cloud revenue rose 22% YoY. Personal Computing was the sore segment in the report. Microsoft is moving ahead with Activision buyout. Microsoft (MSFT) stock advanced a solid 5% late Tuesday on the mega cap’s hefty beat of Wall Street consensus for the most recently

Share: Extra gains in USD/CNH are likely on a breakout of the 6.9350 region in the near term, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: “We expected USD to trade with an upward bias yesterday but we held the view that ‘any advance is likely

Share: WTI increased due to optimism for higher fuel demand during China’s holiday travel season. OPEC+ producer group’s planned supply cuts may tighten the oil market. WTI Price Analysis: Neutral to downward bias remains as oil dips below crucial EMAs. In the mid-Monday North American session, WTI crude oil prices continued to climb, trading at

Share: Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “German economy is far away from the substantial upswing.” Additional quotes Proportion of German companies that want to raise prices has fallen again. German economy is lacking momentum. Industry’s export expectations have risen. Strong economies in China and

Share: Weekly forecast, April 24 – 28, 2023 Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 4177, which will be followed by moving up to resistance level 4223 – 4244. Downtrend scenario The downtrend may be expected to continue, while market is trading below resistance level 4177, which

Share: S&P Global PMI figures ease recessionary fears, boost US economy. Traders’ moods fluctuating to risk-on/off dominated the New York session. EU’s PMI results are mixed; manufacturing activity shranks, while Services and Composite Indices exceed expectations. Markets remain cautious amid uncertain rate outlooks from the Fed and the ECB. The EUR/USD prepares to finish the

Share: US Dollar benefits from upbeat Manufacturing and Services PMIs for April. Fed’s Harker signals the end of rate hikes, but Mester suggests higher rates are needed. NZD/USD Price Analysis: Bearish biased and can test YTD lows if it dives below 0.6084. The NZD/USD fell to six-week lows around 0.6126 as business activity in the

Share: GBP/USD cracking 1.2400 could trigger a bearish resumption, exposing 100 and 200-day EMAs at 1.2173. Buyers pushing GBP/USD above 1.2400 could spark upward momentum and test YTD high at 1.2546. After a tranche of UK and US economic data, GBP/USD stays in sideways choppy trading, keeping the pair scrambling for direction following the last

Share: Markets are on pause, awaiting catalysts. It will be the week before the central bank’s weeks. Major currency pairs are moving sideways, with a mixed US Dollar, holding on to recent losses versus EUR and GBP. The pattern could continue next week, considering that the first week of May is crucial with monetary policy

Share: USD/JPY remains under heavy selling pressure for the second successive day on Friday. Stronger inflation figures from Japan and a softer risk tone benefit the safe-haven JPY. Bets for more Fed rate hikes act as a tailwind for the USD and could limit further losses. The USD/JPY pair drifts lower for the second successive

Share: NZD/USD shows a likelihood of a continuation to the downside. The 0.6180 structure is the line in the sand. As per the prior analysis, NZD/USD Price Analysis: Bears eye a continuation to 0.6120, the bias remains bearish as the following will illustrate. NZD/USD prior analysis NZD/USD was embarking on a run to test a 50% mean reversion level

Share: The index gives away some gains below the 102.00 mark. Global markets remain within a consolidative phase so far. Weekly Claims, Philly Fed Index next of note in the docket. The greenback, when tracked by the USD Index (DXY), trades slightly on the defensive below the 102.-00 region on Thursday. USD Index looks at

Share: Analysts at Danske Bank forecast the AUD/USD pair at 0.68 in a month, at 0.68 in three months and at 0.67 in a six months period.  Key quotes:  “The Reserve Bank of Australia (RBA) paused its hiking cycle in March following the banking sector uncertainty. After the strong March employment data, markets now price