FX

The Euro finds sellers at 0.8775 and remains moving sideways. UK economy contracts less than expected in Q3. EURGBP: Still keeping the three-month forecast at 0.89 – Rabobank. The Euro recovery attempt from Thursday’s lows at 0.8695 has been capped at 0.8775 in Friday’s early US session before retreating to 0.8740. From a wider perspective, the

EURUSD finished up in the week close to 4%, spurred by a weak US Dollar. Softer-than-expected US CPI report and consumer inflation expectations rising tumbled the US Dollar. The double-digit inflation level in Germany underpinned the Euro. EURUSD Price Analysis: Upward biased, might test the 200-DMA in the short term. The Euro (EUR) finished the

The GBP extended its gains towards 1.1790s after a soft US inflation report. The US Dollar plunges sharply, as shown by the US Dollar Index, down 1.20%, below the 107.000 mark. Consumer sentiment in the United States worsened as inflation expectations rose. The Pound Sterling rises in the North American session, following a softer inflation

The Dollar dives to fresh six-week lows at 1.3255. The CAD extends gains on higher oil prices and risk appetite. US consumer sentiment deteriorated beyond expectations in November. The US Dollar has extended losses against its Canadian counterpart on Friday, reaching a fresh six-week low at 1.3255. The pair remains on the defensive after having depreciated

Open interest in gold futures markets rose for the 4th consecutive session on Thursday, this time by around 4.7K contracts according to preliminary readings from CME Group. Volume followed suit and increased by around 81.7K contracts. Gold now targets the $1,800 mark Prices of the ounce troy of gold advanced markedly on Thursday amidst rising

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EURJPY has resurfaced after dropping to near 146.50 as bets escalate for hawkish ECB policy. It is premature to determine Eurozone’s interest rate peak as the current inflation rate is far from target. An end to BOJ’s easy policy seems not in vision as the administration has announced more stimulus packages. The EURJPY pair has

USDCAD rose by 0.35% as buyers are eyeing to reclaim the 50-day EMA at 1.3515. Risk aversion kept CAD buyers from extending the USDCAD losses towards the head-and-shoulders chart pattern 1.3030 targets. Canadian and US jobs data suggests that the BoC and the Fed need some work to do. The American Dollar is recovering some

Japanese Economy Minister Shigeyuki Goto said on Wednesday, it is “desirable for FX to move stably reflecting fundamentals.” He further said that there is “no plan to compile the third extra budget.” His comments come after Japan’s Ministry of Finance (MOF) announced on Tuesday that the country’s cabinet approved a second supplementary budget for this fiscal

USDMXN is bearish despite extreme oversold readings. The next target is seen at the 19.20/25 support area. Recovery above 19.50 to alleviate bearish pressure. The USDMXN is trading at 19.46, after matching the lowest intraday level since March 2020. Earlier on Tuesday, it rose to 19.50 but then turned to the downside amid a sharp

Bloomberg reported on Tuesday, Japanese Prime Minister Fumio Kishida is set to approve USD198 billion in the additional budget for the economic stimulus plan. Meanwhile, Reuters reported, having seen a draft of the spending plan, Japan is set to spend 1.4 trillion Japanese Yen (JPY) ($9.55 billion) in additional fiscal loans in a second extra

US dollar remains weak after NFP, ahead of CPI. USDCHF extends its slide after finding resistance again at 1.0150. Next critical support is seen around 0.9850. The USDCHF is falling on Monday for the second day in a row and it dropped to 0.9874, reaching the lowest level since October 27. It is hovering slightly

USDJPY seesaws inside a two-week-old symmetrical triangle, recently bounced off 200-SMA support. Oscillators suggest further grinding inside the key SMA envelope. Ascending trend line from early October adds to the downside filters. USDJPY stays defensive around 147.20, mildly bid to consolidate the previous day’s losses ahead of Monday’s European session. In doing so, the Yen

The AUDJPY is set to finish the week with gains of 0.40%. AUDJPY Price Analysis: Once it cleared 95.56, it could re-test the YTD highs at around 98.50. The AUDJPY edges higher, snapping three days of consecutive losses amidst an upbeat market sentiment, as Wall Street pared its losses, while the US Dollar dropped almost

GBPUSD appreciates further and reaches session highs near 1.1400 The pound has continued appreciating during Friday’s US afternoon trading, buoyed by the broad-based USD weakness, to reach session highs at 1.1380. The pair has shrugged off the previous day’s negative pressure on Friday, to perform a shocking 1.9% daily rally after bouncing from the lower

The US dollar plunges 2.5% on Friday to hit six-week lows at 1.3470. A mixed NFP report sends the greenback tumbling. USDCAD is testing the neckline of a potential H&S formation. The US dollar is about to close its worst daily performance in some months with a nearly 1.8% sell-off. The pair has extended its reversal

The dollar dives 0.9% on the day and hits one-month lows at 146.55. US payrolls increase, but unemployment rises, and salaries slow down. USDJPY: More likely to peak at 155 than at 160 – MUFG. The US dollar is trying to return above 147.00 in the US afternoon trading session, to trim losses after having lost

The American Dollar has difficulty finding its feet, down 1.39%, as shown by the US Dollar Index. Speculations that the Fed would tighten in smaller increases mounted as the labor market gave signs of easing. The US 2s-10s yield curve inversion, the deepest since the 1980s, and US recession fear increased. Gold price continues to