FX

Share: Mullen completes production of 350 Class-1 EV vans. On Thursday, Mullen also announced a new delivery van pilot program with the New York Power Authority. MULN stock gained 10.7% on Thursday. After lacking ignition at the beginning of the week, Mullen Automotive (MULN) stock has made a silent comeback in the second half. The stock has

Share: AUD/USD retreats below 0.6850, still poised to make a 2.40% weekly gain, its highest in 2023. UoM US Confidence data provided some support to the USD. DXY Index stabilised below 100.00 but remains vulnerable. At the end of the week, the Aussie lost some ground agains the Greenback as US Treasury yields somewhat recovered, lending the

Share: AUD/NZD struggles for a firm intraday direction, stuck in a narrow range. The critical resistance level stays at 1.0800, with an initial support level of 1.0750. The Relative Strength Index (RSI) hovers between 40-60. The AUD/NZD pair consolidates in a narrow range between the 1.0750-1.0790 area on the four-hour chart. The path of least

Share: USD/CHF recorded more than 0.85% losses on the day, falling below the 0.8600 mark. Following soft CPI and PPI figures from the US from June, investors take of the table an additional hike by the Fed past July. Jobless Claims decelerated in the week ending on July 7. Declining US Treasury yields made the

Share: The Yuan has weakened since mid-April. Economists at Commerzbank analyze CNY outlook. Weaker for longer We forecast USD/CNY to largely stay beyond 7.2 through Q3 before falling back to around the key 7 mark in Q4 and below 7 in 2024 due to the anticipated softening of the Dollar.  EUR/CNY will likely rise in

Share: NZD/USD rose above 0.6295, its highest since May 23. US CPI declined to 3% YoY vs the 3.1% expected, fuelling a decline in US Treasury yields. RBNZ held rates steady, just as expected. On Wednesday, the NZD/USD gained bullish momentum following soft Consumer Price Index (CPI) inflation figures. As a reaction, the US DXY

Share: There is scope for GBP/USD to revisit the key 1.3000 mark in the next few weeks, suggest, Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: We highlighted yesterday that “there is room for GBP to rise further.” We added, “1.2950 is unlikely to come into view.”

Share: UK wage jump increases BoE rate hike chances, with analysts expecting a 50 bps hike in August. GBP/USD hits year-to-date high, with buyers eyeing 1.3000. USD weakness continues ahead of US inflation data. GBP/USD rallied to a 15-month high of 1.2934 after a solid employment report in the United Kingdom (UK) increased the chances

Share: The UK Unemployment Rate unexpectedly rises to 4.0% in the three months to May. The Claimant Count Change for Britain arrived at 25.7K in June. The UK Average Earnings excluding bonuses rose 7.3% 3M YoY May vs. 7.1% expected. The Office for National Statistics (ONS) published the latest employment data on Tuesday showing the United Kingdom’s (UK)

Share: The WTI price trades with losses near the $73.00 area, cutting a four-day winning streak. Weak NFPs from the US and dovish bets on the Fed made Oil prices rally on Friday. Eyes on inflation data from the US on Wednesday. At the start of the week, the West Texas Intermediate (WTI) barrel trades

Share: CME Group’s flash data for gold futures markets noted traders added around 3.3K contracts to their open interest positions on Friday, adding to the ongoing uptrend. Volume, instead, shrank for the second session in a row, this time by around 19.4K contracts. Gold: Initial hurdle comes near $1930 Friday’s marked advance in gold prices

Share: US stocks slammed into the close and erode the NFP knee-jerk rally.  Investors rethink the US data this week and the hawkish sentiment is a dark cloud over Wall Street.  The S&P 500 (US500) index fell on Friday with weakness intensifying into the close. The US Nonfarm Payrolls data from the Labor Department, which offered a mixed view

Share: Mexican Peso recovers as weak US data sparks a sell-off, bringing USD/MXN down from a four-week high. US job growth disappoints, triggering Dollar weakness; inflation fears persist as Average Hourly Earnings rise. Mexican inflation declines for the fifth month, defying estimates; CME FedWatch Tool shows heightened odds for a Fed rate hike. The Mexican

Share: On Friday, the EUR/JPY found support at the 155.40 area, near the 20-day SMA and then settled at 155.80 The JPY strengthen agains most of its rivals amid strong Labor Cash Earning data from Japan. Eyes on German CPI data next Tuesday. At the end of the week, the EUR/JPY traded with losses for

Share: The US dollar weakens across the board after the US official jobs report. EUR/USD gains momentum after breaking above 1.0930. The pair is heading for its highest weekly close since May. The EUR/USD pair gained momentum amid a weaker US Dollar following the release of US employment data. After breaking above 1.0930, the Euro

Share: USD/CHF plunges to a two-month low of 0.8889, down 0.72%, due to weaker-than-expected US labor data and a weakened US Dollar. The pair breaches a two-month support trendline, extending losses below 0.8900. The next target is the year-to-date low of 0.8819, pending a breakthrough of the 0.8850 psychological level. If buyers reclaim 0.8900, initial