FX

Share: The Core Personal Consumption Expenditures Price Index is forecast to rise 0.2% MoM and 3.9% YoY in August. The Federal Reserve’s Summary of Economic Projections pointed to one more rate hike in 2023. A soft PCE reading could weaken the US Dollar.  The Core Personal Consumption Expenditures (PCE) Price Index, the US Federal Reserve’s

Share:  During the Asian session, Japan will release critical economic reports including the September Tokyo Consumer Price Index, the August Unemployment Rate, Industrial Production, Retail Sales, and Housing Starts. In Australia, Private Sector Credit data is due. Later in the day, a new estimate of UK Q2 GDP and Consumer Credit will be reported, while

Share: Gold price faces an intense sell-off as Fed Kashkari said he sees one more interest rate hike this year. Strength in the US economy due to tight labor market and strong consumer spending have backed the Fed’s hawkish stance. The US Dollar refreshes a six-month high near 106.80 amid global slowdown risks and impending

Share: Disney has been in a tremendous decline since it peaked at $203.02 back 03.08.2021. The Peak ended a Grand Super Cycle and since then it has corrected in larger pullback. The Elliott Wave Theory provides us with cycle degrees determined by the time each cycle lasts. So the Grand Super Cycle is the highest

Share: GBP/JPY finds an intermediate support near 181.00 while the downside seems favored. Fears of a stealth intervention by the BoJ in the FX domain to defend the falling Japanese Yen may keep the asset under pressure. GBP/JPY drops after testing the breakdown region of the Symmetrical Triangle pattern. The GBP/JPY pair discovers some buying

Share: GBP/USD prints losses of 0.46%, on risk-off, after last week’s BoE’s decision. The Federal Reserve’s “higher-for-longer” mantra continues to underpin the Greenback, with several Fed speakers emphasizing the need for another rate hike and sustained high rates. The last Bank of England’s decision weighs on the Pound Sterling, set to continue to weaken. The

Share: Gold price seeks potential support but it is pressured by a strong US Dollar and increasing Treasury yields. Fed’s higher for longer interest-rate stance keeps Gold price under pressure. US Durable Goods Orders are seen contracting at a slower pace in August. Gold price (XAU/USD) looks for a cushion after facing a sell-off as

Share: Gold buyers are struggling to hang on to $1,915.00 for Monday. A well-bid US Dollar is seeing the XAU/USD flounder into recent lows. Analysts see Gold reaching $2,200 by the end of the year, but policy risks remain. The XAU/USD took a step lower on Monday, knocking into $1,915.00 and seeing little relief pressure

Share: Japanese Prime Minister (PM) Fumio Kishida said on Monday that he will instruct ministers to compile an economic package on Tuesday. Additional quotes Aim to move from cost cut-led economy to one with active investments. Economic package aims to protect people’s lives from rising prices. Private consumption, capex lack strength, being unstable. To swiftly

Share: The USD/CAD is recovering for Friday after slipping to 1.3425. Rising oil prices are bolstering the CAD, but the USD has been finding market support. Canadian Retail Sales rose for July, but slightly less than expected, reducing CAD upside. The USD/CAD is set to finish out Friday near where it started, trading just south

Share: S&P 500 concluded the week at 4,320.06, marking a 0.23% daily and a 3.02% weekly drop, reaching levels last seen in June, with Nasdaq and Dow Jones also incurring losses Federal Reserve’s decision to hold rates but revise upward projections for the Federal Funds rate for 2023 and 2024 spurred a sharp reaction in

Share: The EUR/GBP made a late-week break for the 0.87 handle. The Pound Sterling continues to give up ground after a dovish BoE shrank from rate hikes, EU PMI figures came in mixed, keeping Euro gains restrained. The EUR/GBP stretched for the 0.8700 major handle in Friday trading, closing the week with over a full

Share: Next week, markets will continue to digest the outcomes of recent central bank meetings. Additionally, market participants will closely monitor the release of economic data, with a particular focus on inflation figures from the Eurozone and the US Core Personal Consumption Expenditure (PCE) index. Here is what you need to know for next week: 

Share: AUD/USD is up 0.51%, benefiting from the overall weakness of US Dollar. Despite hawkish remarks from various Fed officials, the US Dollar remains subdued, with the DXY showing modest gains at 105.55. Solid PMIs in Australia and considerations of rate hikes by the RBA support the AUD. Key economic data scheduled for release next

Share: The Norges Bank hiked by 25 bps to 4.25%. The Norwegian Krone was unable to benefit notably from Norges Bank’s decision. Economists at Commerzbank analyze NOK outlook. The end of the rate hike cycle could soon be reached Norges Bank hiked by 25 bps to 4.25% yesterday, but at the same time signalled another

Share: The AUD/USD is recovering into the back end of Thursday trading as risk appetite recovers. The Aussie knocked into 0.6385 as US Dollar flows take the AUD back into familiar territory. The week is set to cap off chart action with PMI figures for both Australia and the US. The AUD/USD is catching a

Share: European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel commented on the interest rate outlook during his scheduled appearance on Thursday. Nagel said that “rates must stay sufficiently high for sufficiently long.” Market reaction At the time of writing, EUR/USD is trading near 1.0660, attempting recovery from six-month lows, modestly flat on the day.

Share: The NZD/USD reversed its course and fell towards 0.5930, after reaching a high of 0.5985. The US Dollar strengthened on the back of rising US yields after the Fed’s hawkish pause. The Fed kept rates at 5.25-5.50% as expected. The bank reduced projections of 100 bps of rate cuts in 2024 to 50 bps.