FX

Share: Gold price has stretched its downside to near $1,990.00 amid steep recovery in the USD Index. Investors are anticipating a rebound in US inflation figures amid solid labor market conditions. Gold price is declining towards the upward-sloping trendline plotted at $1,885.77. Gold price (XAU/USD) has extended its downside to near $1,990.00 as the US

Share: GBP/USD tumbles on a worse-than-expected US Nonfarm Payrolls report, with the US economy adding fewer jobs than analysts’ consensus. However, the initial reaction favored the US Dollar (USD). At the time of writing, the GBP/USD trades volatile around the 1.2450-1.2370 range, below its opening price. Read More… GBP/USD seesaws around 1.2155-60 while printing the first

Share: EUR/USD hovers around 1.0900 after hitting a low of 1.0876. US Nonfarm Payrolls rose below forecast but cemented the case for a 25 bps Fed rate hike. ECB’s Knot: Further rate hikes need, and no rate cuts in 2023. The EUR/USD falls during the North American session and retraces towards the 1.0900 figure after

Share: EUR/GBP barely moved the needle amidst thin liquidity conditions on a worldwide holiday. A solid US jobs report pushed recession fears away, as US equity futures showed. The EUR/GBP advances for two straight days and hits a four-day high of around 0.8790 on a subdued trading session in observance of the Good Friday holiday.

Share:  Here is what you need to know for next week:  Markets continue to move fast. A month ago, Silicon Valley Bank (SVB) was still relatively unknown. Later, came the banking crisis, and now it looks like it’s the beginning of worries about global growth after softer economic data. The Federal Reserve (Fed) went from

Share: USD/INR stays well-set for three-week losing streak, down for the fourth consecutive day. Indian Rupee buyers take a breather at 11-week-old ascending trend line. Clear break of upward-sloping previous support line from September 2022, bearish MACD signal favor USD/INR sellers. Convergence of Five-month-old support line, 200-DMA appears a tough nut to crack for pair

Share: St. Louis Federal Reserve President James Bullard said on Thursday he thinks inflation is going to be sticky going forward. Regarding monetary policy, he considers that interest rates are currently at the low end of a sufficiently restrictive range. He mentioned the need to “stay at it” to get inflation back into the target. 

Share: GBP/USD is eyeing more weakness to near 1.2400 amid a dismal market mood. China’s retaliation over arms support to Taiwan by the US might result in some restrictions on exports from China to the US. Scrutiny of US ADP Employment data is indicating a slowdown in the labor market ahead. The GBP/USD pair is

Share: Economists at HSBC discuss the Swiss Franc outlook. Its “safe haven” is likely to be less supportive in the coming weeks. CHF to move largely sideways against the USD in the weeks ahead “The CHF can still enjoy occasional ‘safe haven’ allure, but we expect this factor will be less supportive in the coming

Share: USD/INR is declining toward 82.00 as investors are yet to discount the overnight sell-off in the USD Index. Weak US Job Openings data is indicating that the tight US labor market is cooling-off. S&P500 futures have added nominal gains after a bearish Tuesday, portraying caution in the overall market mood. The USD/INR pair is

Share: Bank of England Chief Economist Huw Pill said on Tuesday that caution is still needed in assessing inflation prospects on account of the potential persistence of domestically generated inflation, as reported by Reuters. Key takeaways “The onus remains on ensuring enough monetary tightening is delivered to see the job through.” “There is a lot

Share: Global markets remain dicey as traders reassert week-start moves amid a light calendar. S&P 500 Futures seesaw around multi-week high, prods four-day uptrend of late. US 10-year, two-year Treasury bond yields pause the previous fall but struggles to recover of late. OPEC+ shock gains mixed response amid downbeat US data, geopolitical challenges test optimists.

Share: USD/JPY’s rally is at risk of running out of steam. Year-end foreign bond buying might have fuelled some of this move higher and that is unlikely to be sustained while the scale of the drop in US yields still points to downside USD/JPY risks, economists at MUFG Bank report. JPY weakness may not be

Share: NZD/USD stays defensive as it attacks short-term key support confluence inside bearish chart formation. China PMIs drop in March, NZIER hints at 0.25% RBNZ rate hike. 200-SMA, rising wedge’s support line challenge sellers even as bearish MACD signals keep them hopeful. Bulls need successful break of 0.6300 to retake control. NZD/USD grinds near the

Share: US Department of Commerce reported that PCE was below estimates, spurring speculations for a Fed shift. Oil prices rise after output reduction at several oilfields in northern Iraq’s Kurdistan region. Western Texas Intermediate (WT), the US crude oil benchmark, is set to finish the week with more than 9% gains after touching a YTD

Share: A triple bottom in the EUR/USD daily chart remains in play but at a brisk of being negated. EUR/USD’s price action during the last couple of weeks created a double top, which could shift the pair’s bias. The Euro (EUR) drops from around weekly highs of 1.0925 on a buoyant US Dollar (USD) and

Share: Gold price pulls back after spiking higher following lower-than-forecast US Personal Consumption Expenditure price data. Three Federal Reserve officials say more work needs to be done to bring down inflation. Never mind deposits, what about bank’s assets? Questions economist who sees crisis reviving and Gold exceeding $2,000. Gold may be forming a triangle in

Share: USD/CHF drops as US core PCE rose by 4.6% YoY, below the previous month. The University of Michigan’s Consumer Sentiment was below expected. USD/CHF Price Analysis: Presses toward 0.9100, but sellers struggle to break that support below. USD/CHF falls to a new weekly low below 0.9126, sponsored by economic data from the United States