FX

USD/CHF is downward biased but subject to a mean reversion move towards 0.9300. Solid resistance lies at 0.9235/40, with the confluence of technical indicators rejecting the USD/CHF rally. USD/CHF Price Analysis: Bulls are hopeful if the pair remains above 0.9158. After slumping on Wednesday, the USD/CHF stages a comeback recovering the 0.9200 psychological level, eyeing

The US core PCE, the Fed’s preferred gauge for inflation, edges down, sparking speculations for a Fed pivot. Consumer Sentiment improved, while inflation expectations ticked lower. EUR/USD Price Analysis: Upward biased, but short-term neutral, ahead of Fed and ECB’s decisions. The EUR/USD got rejected from the 1.0900 psychological barrier for two consecutive days and on

Analysts at MUFG Bank see the USD/ZAR moving to the downside over the next days. They point out the South African Rand has failed to strengthen alongside other Emerging Market currencies on the back of building optimism over a dovish Federal Reserve policy pivot and China’s economy reopening more fully this year. Key quotes: “The

GBP/USD is set to finish Friday with losses of at least 0.20%. United States inflation continues to wane but remains twice elevated of Fed’s target. GBP/USD Price Analysis: To remain sideways ahead of the Fed and BoE monetary policy decisions. GBP/USD snaps two days of gains and tumbled below Thursday’s close of 1.2406, slumping toward

The daily upside in EUR/USD falters around 1.0900. The greenback looks side-lined ahead of key data releases. US PCE, Core PCE, Consumer Sentiment next of note in the docket. After a brief test of the 1.0900 region earlier in the session, EUR/USD now comes under some mild downside pressure and revisits the 1.0880 zone at

After initially suggesting a fall in the UK Inflation, British Treasury Secretary Jeremy Hunt will say on Friday that he will tackle the country’s weak productivity growth, including by using post-Brexit finance reforms to drive more investment into the economy, per the UK Treasury as reported by Reuters. The update also states that UK Chancellor

The South African central bankers are getting together for their first monetary policy meeting in 2023 today. A hawkish SARB is unlikely to lift the Rand, according to economists at Commerzbank. The Rand is under pressure due to domestic risks “Usually the Rand is able to benefit from a hawkish SARB, above all in a

AUD/USD seesaws around five-month high as bulls take a breather after four-day uptrend. Higher highs on RSI (14) contrast with the lower high on prices to probe the bullish trend. Overbought RSI conditions, seven-month-old horizontal hurdle also challenge buyers. 61.8% Fibonacci retracement, previous weekly high restrict immediate downside. AUD/USD pauses the four-day uptrend around the

Gold price retreats from a nine-month high as bulls opt to take some profits off the table. Bets for smaller rate hikes by Federal Reserve weigh on US Dollar and should limit losses. Looming recession risk might further lend some support to the safe-haven precious metal. Gold price edges lower on Wednesday and moves away

AUD/USD is aiming to print a fresh five-month high above 0.7060 ahead of Australian inflation. The USD Index has found an intermediate cushion around 101.50, however, the downside bias is still solid. A bullish momentum will be triggered after a jump by the RSI (14) into the bullish range of 60.00-80.00. The AUD/USD pair is

GBP/USD drifts into negative territory for the second successive day on Tuesday. The USD attracts haven flows amid looming recession risks and exerts pressure. Expectations that the BoE will continue raising rates should limit deeper losses. The GBP/USD pair attracts some sellers following an early uptick to the 1.2415 area and turns lower for the

Silver prices dived more than 2% on Monday as US Treasury yields gained traction. Silver Price Analysis: In consolidation, though appears to be peaking around $24.00. Silver prices appear to have peaked following Monday’s price action, with the white metal unable to hold to the $24.00 figure, collapsing as low as $22.76, beneath the 50-day

Sterling continues to perform well and is holding onto the gains made last week. Economists at ING expect the GBP/USD pair to struggle to surpass the 1.2450/2500 area. Marked improvement in the perception of UK sovereign risk “The market now prices a 45 bps Bank of England (BoE) hike at next week’s meeting. The firming

Reuters reported that the European Central Bank (ECB) is set to raise interest rates by 50 basis points in both February and March and will continue to raise rates in the months after, ECB governing council member Klaas Knot said in an interview with Dutch broadcaster WNL on Sunday. “Expect us to raise rates by 0.5%

GBP/USD seesaws during the North American session, around the 1.2360-1.2390 region, around the London Fix, unable to gain a clear direction. Risk appetite increased, which usually favors the Pound Sterling (GBP), but soft UK economic data weighed on the GBP/USD. At the time of writing, the GBP/USD exchanges hands at 1.2391. Read More… GBP/USD is on the back foot,

EUR/JPY bounced off the day’s lows at 139.03 and hit a daily high of 141.19 before losing steam. The EUR/JPY reclaiming and achieving a daily close above the 200-day EMA keeps bulls hopeful of higher prices. The Euro (EUR) rallies sharply on Friday, ahead of the weekend, as the Japanese Yen (JPY) weakened following the

XAG/USD stays firm and climbs as the US Dollar remains offered across the board. Silver Price Analysis: Range-bound but could turn bullish above $24.50; otherwise, it could re-test the 50-DMA. Silver price extended its gains for the second consecutive day, cleared Thursday’s daily high of $23.93, and held its ground above the 20-day Exponential Moving Average

Silver prices have risen by 27% since mid-October 2022. Economists at ANZ Bank expect XAG/USD to perform well in 2023. Silver should not be ignored “We expect prices to correct in the short-term, but fundamentals are likely to be supportive over the next 12 months.” “The supply-demand balance looks strong. The growing adoption of green