FX

Share: The White House has begun planning a November meeting in San Francisco between President Biden and Chinese leader Xi Jinping to stabilize relations between the world’s two most powerful nations. This would be the first meeting between the leaders of the world’s two largest economies since they met in November last year in Bali,

Share: USD consolidates as yields remain supportive. Economists at Scotiabank analyze Greenback’s outlook. DXY gains remain stretched High US yields and wide rate differentials will keep the USD well-supported in the near-term at least but the disruptive impact of the US Treasury sell-off is a niggling concern for investors and may be increasing the risk

Share: USD/JPY trades sideways below the 149.00 area, supported by the suspected FX intervention by Japanese authorities. US private payrolls rose by 89,000 in September vs. 180,000 prior. 10-year Japanese Government Bond (JGB) yield spiked to 0.8% for the first time since 2013 on Wednesday. Market players await the highly-anticipated US Nonfarm Payrolls. The USD/JPY

Share: Oil (WTI) not enjoying the week as it trades below $90. The US Dollar printed a new high in the US Dollar Index, flirting with the 52-week high. Despite supply cut confirmations and US stockpile drawdowns, prices remain under pressure.  Oil prices already had a busy morning this Wednesday with OPEC+  issuing its report.

Share: NZD/USD extends its downside above 0.5900 amid the cautious mood and USD demand. US JOLTS Job Openings came in above expectations. The Reserve Bank of New Zealand (RBNZ) is likely to hold the rate unchanged at 5.50% at its October meeting. Traders await the RBNZ rate decision on Wednesday. The NZD/USD pair remains on

Share: JOLTS report will be watched closely by Fed officials ahead of September jobs data. Job openings are forecast to hold steady at around 8.8 million on the last business day of August. US labor market conditions remain out of balance despite Fed rate hikes. The Job Openings and Labor Turnover Survey (JOLTS) will be

Share: AUD/USD remains flat around 0.6362 as traders turn cautious ahead of Australia’s key event. US ISM Manufacturing PMI came in at 49.0 in September vs. 47.6 prior, better than expected. Market players expect another interest rate pause at 4.1% from the Reserve Bank of Australia (RBA) on Tuesday. The AUD/USD pair consolidates its recent

Share: Oil (WTI) heads higher on Monday, halting the sell-off at the end of last week. The US Dollar is flat and under a bit of pressure from a risk-on market mood. The door is open towards $94 with more headlines underway in the wake of the Adipec meeting. Oil prices are recovering from the

Share: AUD/USD remains confined near 0.6430 amid the USD demand. The annual Core PCE Price Index rose 3.9% vs. 4.3% prior, the monthly figure grew 0.1% vs. 0.2% prior. China’s manufacturing PMI grew into positive territory. Traders await the US ISM Manufacturing PMI ahead of the Reserve Bank of Australia (RBA) rate decision on Tuesday.

Share: Canadian Dollar back into recent lows as Crude Oil prices tumble on Friday. Canadian GDP missed market expectations, economic growth came in flat. USD/CAD etches in a new high for the week as CAD slips, US Dollar recovers. The Canadian Dollar (CAD) saw both a new high and a new low against the US

Share: The GBP/USD initially rose on Friday, but got knocked lower as the market broadly swept back into the US Dollar. The US Dollar index caught a late bid to push back into the middle to close out the trading week. Recession risk is still quite high in the UK, capping Pound Sterling bids. The

Share: Mexican Peso finished the week on a lower note against the US Dollar. Mexico’s inflation rate will be the highlight of the economic agenda for the next week. USD/MXN could turn sideways after Banxico is determined to hold rates higher to curb inflation. The Mexican Peso (MXN) held to its gains vs. the US

Share: Nike beat earnings consensus for FQ1 results. The quarter ending in August witnessed better pricing power. Nike earned $0.94 per share on revenue of $12.94 billion. NKE stock has conquered the 21-day SMA, signaling a new uptrend. August PCE data shows core inflation slowing its growth trajectory. Nike (NKE) stock has surged over 9%

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