FX

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

Share: USD/CAD is trading near the 1.3600 mark, above the key 100-hour EMA. Relative Strength Index (RSI) stands in the bearish territory below 50. 1.3650 will be the immediate resistance level; 1.3575 acts as an initial support level. The USD/CAD pair loses traction and hovers around the 1.3600 mark during the early European session on

Share: XAU/USD closed the week with a 1% weekly decline above the convergence of the 20 and 200-day SMAs. US yields are set to close a 2% weekly increase. Attention shifts to next week’s US CPI and Retail Sales from the US. At the end of the week, the XAU/USD traded with mild losses, around

Share: S&P 500 closed up 0.14% at 4,457.49 on Friday but lost 1.13% for the week, reflecting investor caution amid global economic uncertainties. US economic data shows resilience with solid service sector activity and tight labor market, contrasting with gloomy outlooks in China and Europe. US Treasury bond yields advance to 4.268% on 10-year note,

Share: The USD/CLP is breaching into significant highs as the Chilean Peso crumbles. CLP down significantly as the Chilean central bank starts to axe interest rates in the face of evaporating inflation. Market economists expect the Banco Central de Chile expected to begin making 100-point rate cuts in the coming months. The Chilean Peso (CLP)

Share: As Wall Street opens positive, NZD/USD rises 0.57% to 0.5907, partially offsetting fears of a global economic slowdown. US Dollar softens after hitting a six-month high, providing a tailwind for NZD/USD amid a lack of fresh US economic data. Traders await key economic indicators next week, including US inflation data and New Zealand Retail