FX

Australian Dollar remains tepid as market bias leans towards RBA adopting a dovish stance. Australia’s central bank may consider cutting interest rates in the second half of 2024. US Dollar strengthens as recent data suggests that the Fed may delay implementing rate cuts shortly. The Australian Dollar (AUD) extends its losses for the second successive

AMC Entertainment tumbles after disclosing plan to sell $250 million worth of stock. Cash would be used to pay down existing debt load. Kung Fu Panda 4 and Dune: Part 2 are doing well at the box office. Support from February awaits AMC stock at $3.60. AMC Entertainment (AMC) stock is back on the dilution train.

ASX 200 Index extends its gains on expectations of RBA reducing interest rates in the second half of 2024. Australia’s Consumer Inflation Expectations increased to 4.3% in March, against the previous rise of 4.5%. Allup Silica has extended its application potential by achieving high-purity results from its Sparkler project. The ASX 200 Index rises to nearly

Mexican Peso skyrockets sharply toward 16.53 against the US Dollar as USD/MXN contracts 0.65%. Mexico’s narrowed trade deficit and the tighter labor market in Mexico contributed to Peso’s ascent, surpassing expectations. Attention turns to Federal Reserve Governor Christopher Waller’s comments on Wednesday. The Mexican Peso rallied to a new eight-year high against the US Dollar

EUR/USD loses traction around 1.0830 on the renewed USD demand on Wednesday.  The pair maintains the bearish outlook above the key EMA; RSI lies below the 50-midline.  The first upside barrier is seen near 1.0853; the potential support level is located at 1.0800.  The EUR/USD pair trades in negative territory for two straight days near

The daily technical analysis reveals a steady bearish momentum but with indicators recovering. The hourly chart hints at initial signs of bullish momentum with the RSI in the positive territory. Despite the bearish short-term indicators, the pair is trading above the main SMAs, indicating a persisting bullish sentiment in the larger trend. During Tuesday’s session,

Gold price struggles to gain any meaningful traction, though the downside seems cushioned. The Fed projected three rate cuts in 2024 undermines the USD and continues to lend support. Tuesday’s US macro data to provide some impetus ahead of the US PCE Price Index on Friday. Gold price (XAU/USD) extends its sideways consolidative price move

Mexican Peso benefits from US Dollar weaknesses, shrugging off Banxico rate cut. Banxico Governor emphasized cautious approach to rate adjustments, stressing ongoing inflation battle. Mixed economic updates from both Mexico and the US leave traders weighing Fed’s rate cut discourse against actual data. The Mexican Peso capitalized on broad US Dollar weakness on Monday, climbing

Australian Dollar rises on stronger Chinese Yuan and higher ASX 200 on Monday. Australia’s government has committed to backing a minimum wage increase aligned with inflation in 2024. CNY experienced a significant upward movement due to FX intervention, with Chinese major state banks observed selling USD/CNY. Fed Atlanta President Raphael Bostic revised his earlier forecast

Investors continue to bet on the easing cycle beginning by June, led by incoming data. The Greenback is holding resilient despite the Fed’s somewhat dovish guidance and falling US Treasury yields. Next week, the US will release PCE figures from February. The US Dollar Index (DXY) is currently trading at a robust 104.428, marking the

Gold prices see second day of decline, falling to $2,159 after peaking at an all-time high of $2,223. The Federal Reserve’s dovish stance on interest rates keeps US yields down, except for US Dollar. Odds for Fed rate cut in June remain above 70% via CME FedWatch Tool. Gold prices drop for the second consecutive

Indicators flash oversold conditions on the daily chart. Contrarily, hourly chart indicators suggest a slow return of bullish impulse as the bears might have run out of steam. In Friday’s session, the NZD/USD declined just below the 0.6000 threshold, illustrating a bearish outlook as sellers continue to dominate the market. The pair is positioned below

AUD/USD has traded in the 0.6500 range through March – with a short rise above 0.6600. Economists at the National Australia Bank analyze the pair’s outlook. Aussie still expected to appreciate  Our expectation for an appreciation above 0.7000 in H2 2024 is contingent on the reversal of the broad strength shown by the USD over the

Lululemon Athletica plunges below $400. Full-year guidance cut to $250 million below consensus. LULU stock halts fall near long-time support at $386.50. Q4 earnings and revenue arrive above consensus. A Wall Street favorite, Lululemon Athletica (LULU) stock was dashed against the rocks on Friday due to management’s lower outlook for revenue in the current year.

NZD/USD pair loses ground after mixed PMI data from the United States. US Dollar strengthens despite lower US Treasury yields. New Zealand’s Trade Balance improved to $-11.99 billion. NZD/USD continues to lose ground on the second consecutive session on a stronger US Dollar (USD), which could be attributed to mixed data from the United States

The US Federal Reserve is moving closer to cutting interest rates. A first move at the meeting in June is still likely if the next inflation data show progress, economists at Commerzbank say.  Fed wants to gain more certainty that inflation has really been beaten While the Fed is moving towards lowering interest rates, it

Gold price gains strong positive traction for the second straight day and hits a fresh all-time high. The Fed’s projected three rate cuts this year weigh on the USD and benefit the yellow metal. The prevalent risk-on mood prompts some profit-taking amid slightly overbought conditions. Gold price (XAU/USD) trims a part of its intraday gains

The US Dollar sees its fifth consecutive gains starting to fade ahead of the Fed.  Traders brace for the Fed decision, with Powell and new economic projections on the docket.  The US Dollar Index slides back below 104.00 with gains being erased towards the Fed meeting. The US Dollar (USD) faces some hiccups with the Federal