FX

Share: Economist Enrico Tanuwidjaja and Junior Economist Agus Santoso at UOB Group comment on the latest release of inflation figures in Indonesia. Key Takeaways Indonesia’s headline inflation in Jul eased to 3.1% y/y viz. 3.5% in Jun, underpinned largely by decrease in agricultural commodities due to an improvement in food production and stocks. The implementation

Share: NASDAQ Stock Market Report: Analyzing Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms, Netflix (NFLX), and Alphabet (GOOGL) Video Chapters00:00  NASDAQ 100 07:26 Apple (AAPL)10:59 Amazon (AMZN)12:33 NVIDIA (NVDA)13:23 Meta Platforms (META)15:55 Netflix (NFLX) 16:30 Alphabet (GOOGL)17:55 Microsoft MSFT18:33 Tesla (TSLA)21:16 End Welcome to our comprehensive stock market report, where we delve

Share: Gold price recovers as investors await US labor market data. The US Dollar Index struggles for a firm footing as US Factory activities contract for ninth months consecutively. The impact of a decline in Gold demand, reported by the World Gold Council, starts fading. Gold price (XAU/USD) bounced back after gauging intermediate support near

Share: The GBP weakened on Tuesday against the USD as the Greenback gained ground against most of its rivals. Ahead of Thursday’s Bank of England (BoE) decision, the weak British made the GBP lose interest while markets await key labour data from the US. Economic data reported on the session from the US came in

Share: Economists at Commerzbank analyze Greenback’s outlook after the US GDP data for Q2 provided some strong support for the USD last week. Further tightening would reduce the possibility of a soft landing for the US economy Strong economic data constitute a double-edged sword for the Dollar. On the one hand, the prospect of a

Share: GBP/USD is offered on Monday, extending losses from Friday while the dollar index is finishing July down after a similar loss in June. However, the Greenback is rebounded from July lows that printed following below-forecast US core PCE that favoured the Fed being done with rate hikes. The following illustrates the prospects of a low close for the day

Share: The Dollar is proving quite resilient. Economists at ING analyze USD outlook. Dollar can probably trade out ranges over coming weeks Cross-market volatility remains low – perhaps as investors are now expecting prolonged pauses in core interest rate markets. This remains a negative for the Japanese Yen and a positive for the high yielders

Share: GBP/USD bears eye a 50% mean reversion if not the 61.8%ratio. The 4-hour W-formation neckline support has a confluence with the 78.6% Fibonacci.  GBP/USD ended at around 1.2840 on Friday after reaching its lowest level since July 6 while investors remain concerned that the hawks will continue to circle over the Federal Reserve following

Share: WTI is attempting to breakdown but the bulls stay in charge. A break of $79.00 is required for bearish thesis to be solidified.  WTI crude also rose  4.6% for the week, marking the fifth consecutive weekly increase, the longest winning streak since the week ending June 10, 2022. This leaves the longs exposed for the

Share: The two-day BOJ meeting concluded with an unexpected adjustment to the Yield Curve Control. Germany’s Inflation data came in line with expectations of 6.5% but lower than the previous 6.6%, and Q2 GDP data disappointed. Ueda’s dovish tone weights on the Yen. At the time of writing, the EUR/JPY pair is trading near the 155.50

Share: Thursday proved a bad day back in the office for EUR/USD. Economists at ING analyze the pair’s outlook. ECI to the rescue The ECB press conference proved a negative for the Euro as ECB President Lagarde backed away from a September rate hike and seemed to acknowledge both softer activity data and welcome disinflation.

Share: GBP/JPY sells-off on BoJ sentiment ahead of Friday’s meeting. GBP/JPY drops into a potentially strong area of support in the 177.70/90s as per the hourly structure. Bears also eye the Point of Control near 177.00 and then a swing support area at 176.50.  GBP/JPY collapses on a strong hint from Nikkei news that the

Share: Silver scales higher for the third straight day and climbs to a fresh weekly high on Thursday. The technical setup seems tilted in favour of bulls and supports prospects for further gains. A sustained break below the $24.00 mark is needed to negate the near-term positive bias. Silver gains strong follow-through positive traction for

Share: The Fed hiked rates by 25 bps as expected to 5.25-5.50%, its highest in 22 years. All eyes are now on ECB’s decision on Thursday, expected to deliver a 25 bps hike. The EUR/USD is trading positive after 6 consecutive days of losses, precisely at 1.1090 and 0.37% gains during the session. As expected,

Share: Further decline could drag USD/CNH to the 7.1240 level in the short term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: We expected USD to edge lower yesterday. However, we were of the view that “any decline is unlikely to break 7.1500.” We did not

Share: Sterling moved out of consolidation in the later part of the New York morning and is finding demand at a daily support area on the charts. However, at 1.1900, the pair is remaining precariously close to recent trend lows ahead of Wednesday’s expected Fed 25bp hike. Read More… The Pound Sterling (GBP) struggles to

Share: In its quarterly survey of 158 big banks, the European Central Bank (ECB) highlighted that “firms’ demand for credit dropped to lowest since the survey started in 2003.” Additional takeaways Net 14% of Eurozone banks tightened credit standards in 2Q23 vs 27% in 1Q23. Banks expect more moderate net tightening on loans to firms

Share: EUR/USD bears are in the market and eye last month’s highs.  A break of support will leave a 61.8% ratio vulnerable on the daily chart. The Euro is under pressure due to economic data that continues to show the resilience of the US economy in contrast to those that are topping on the edge of a