FX

Share: The Euro reverses Tuesday’s losses vs. the US Dollar. Stocks in Europe kicked off Wednesday’s session with decent gains. EUR/USD remains bid below the 1.0700 hurdle. The USD Index (DXY) treads water in the low 105.00s so far. The Fed is expected to keep rates unchanged at its event. Usual weekly MBA Mortgage Applications

Share: Gold price hit a two-week high at $1937.35 before retreating to $1931.77, down 0.06%. US 10-year Treasury bond yield reaches a 16-year high at 4.367%, weighing on gold. Investors keenly await the Federal Reserve’s ‘dot plots’ and updated economic projections for rate hike clues. Gold price retreats after hitting a two-week high at $1937.35

Share: AUD/USD has staged an initial bounce after probing multi-month descending line near 0.6360. 0.6525 is first hurdle, analysts at Société Générale report. Failure to reclaim 0.6525 can trigger new selling AUD/USD has recently formed an interim support at 0.6360 as it touched the line connecting lows of March and May. An initial bounce is

Share: S&P 500’s key event is Federal Reserve’s interest rate decision on Wednesday. US Building Permits, Housing Starts, Existing Home Sales lead week on data front. S&P Global Manufacturing & Services PMIs are released on Friday. Instacart is expected to IPO on Tuesday at a valuation above $9 billion. The Standard & Poor’s 500 index

Share: One central bank that seems to have almost emerged victorious from the fight against inflation already is the Swiss National Bank (SNB). Economists at Commerzbank analyze EUR/CHF outlook. Current CHF exchange rate likely to be distorted towards a stronger Franc The Swiss Franc should be at an advantage due to the disinflation progress already

Share: GBP/JPY looking down a steep hill as the pair loses ground near 183.00. Data-packed economic calendar for the UK in the bottom half of next week. GBP struggles to find a floor on mixed UK data souring investor appetite.  The GBP/JPY has struggled to develop meaningful momentum in recent weeks, and the Guppy is

Share: USD/NOK saw green on Friday, rising 0.50% above 10.788. Investors expect the NB to deliver a 25 basis point hike to 4.25% next week. The Fed decision will likely be a pause next Wednesday. On the last day of the week, the USD/NOK gained additional traction, rising to multi-month highs above 10.788.  On the NOK’s side, Norges

Share: S&P 500 closes down at 4450.32, losing 1.22%, as Technology, Consumer Discretionary, and Energy sectors led the decline. Upbeat US economic data, including a rise in the Empire State Manufacturing Index, fuels optimism that the Fed may achieve a soft landing. US 10-year Treasury yields climb to 4.334%, adding to market jitters, while WTI

Share: Kiwi holding near the middle, set to finish Friday near where it started. Market flows are firmly in the hands of the US Dollar. Risk sentiment getting limited knock-on positive support from upbeat China outlook. The NZD/USD is set to finish Friday on a slight downstep, trading into the 0.5900 level and unable to find

Share: As US economic data strengthens the dollar, GBP/USD trades at 1.2397, slipping below its 200-day Moving Average. Odds for a November rate hike by the Fed stand at 32.45%, while bets on a BoE rate hike toward 6% are scaled back. With U.S. 10-year Treasury yields at 4.326% and a solid US economy, the

Share: Gold price strengthens after China’s positive data and fresh fiscal stimulus. US Dollar (USD) has pulled back from its six-month high; contributing support for the yellow metal. Enhanced US bond yields could offer support in constraining the correction of the US Dollar (USD). Gold price extends gains on the second day, trading higher near $1,920

Share: USD/SEK increased more than 0.60% towards 11.2000, its highest since November 2022. Sweden’s August CPI came in lower than expected. The USD’s strengths amid strong economic figure contributes to the upward momentum. The USD/SEK tallied a fresh multi-month high around 11.2000 as the SEK lost interest following soft inflation figures from Sweden from August. On

Share: CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions for the third straight session on Wednesday, now by around 20.5K contracts. In the same line, volume reversed two daily builds in a row and went down by more than 29K contracts. Natural Gas: Next on the

Share: The USD/CNY took a dip back in market action on Wednesday. Bullish momentum remains firm for the Greenback despite defensive posturing in Chinese rhetoric. Emerging markets continue to suffer against advanced economy currencies. The Chinese Yuan (CNY) continues to struggle, with the USD/CNY pair sticking above the 7.2600 level despite slipping lower on Wednesday,

Share: Downward momentum in GBP/USD seems to have lost some traction as of late, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: Yesterday, we held the view that GBP “could test 1.2555 before leveling off.” However, GBP traded in a relatively quiet manner between 1.2460 and

Share: USD/MXN trades at 17.2607, with the dollar gaining 0.20% as risk-off sentiment prevails in the market. US inflation data due Wednesday could be a game-changer; CPI expected to rise from 3.2% to 3.6% YoY. Mexico’s 2024 economic package proposes fiscal deficit increase to 4.9% of GDP, the highest in 36 years. The Mexican Peso

Share: GBP/USD idles around 1.25. Economists at Société Générale analyze the pair’s technical outlook. Signs of a meaningful up-move are not yet visible GBP/USD gave a break below the neckline of a Head and Shoulders resulting in a steady decline. GBP/USD is now close to interim support of 1.2420 representing the 200-DMA. This test could

Share: S&P 500 pulled back 1.3% last week, trading as low as 4,430. Wednesday sees the release of the US CPI for August. Oracle reports earnings on Monday after the close. US Retail Sales for August arrive on Thursday and are expected to add 0.2% MoM. Adobe and Lennar report earnings on Thursday. The S&P