FX

Share: Open interest in gold futures markets dropped once again on Wednesday, this time by around 2.3K contracts according to preliminary readings from CME Group. Volume, instead, increased for the second session in a row, now by around 29.6K contracts. Gold: Next on the downside emerges $1950 Wednesday’s marked pullback in gold prices was on

Share: Gold price is attempting to move lower into support following FOMC minutes. Fed minutes show officials split on support for more hikes.  The Gold price is mixed around the Federal Open Market Committee minutes that showed that the board members agreed that inflation risks are still unacceptably high but officials also generally agreed that the extent

Share: The Reserve Bank of New Zealand (RBNZ) hiked its key policy rate by 25 bps to 5.5%. Following the decision, the New Zealand Dollar slumped. Economists at ING believe that NZD/USD could test 0.61. RBNZ may be done with tightening “The RBNZ surprised markets with a dovish 25 bps hike. The decision to hike

Share: USD/MXN reaches a three-week high amid actions by the Mexican Government, stirring uncertainty in the business community and resulting in outflows from the Mexican Peso. Despite positive talks between President Biden and House Speaker McCarthy, US debt-ceiling agreement remains elusive, casting a shadow over US economic data and causing a downturn in US equities.

Share: Silver price prints two-day downtrend, reverses Friday’s corrective bounce. Looming bear cross on MACD, sustained trading below 50-SMA keeps XAG/USD sellers hopeful. Silver sellers can keep 61.8% Fibonacci retracement on radar unless breaking $24.55 resistance. Silver Price (XAG/USD) remains on the back foot around the intraday low of $23.45 heading into Tuesday’s European session.

Share: On Monday, US House Speaker Kevin McCarthy expressed optimism about reaching a deal on the debt-limit with White House negotiators, stating that discussions had been productive leading up to a meeting with President Joe Biden later in the day. With the impending “June X” deadline approaching, McCarthy emphasized the need for decisions to be

Share: Further upside could still push USD/JPY to the 139.00 level and beyond, comment UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Key Quotes 24-hour view: “We noted last Friday ‘upward momentum appears to be slowing and USD is unlikely to advance much further’ and we expected USD to ‘trade

Share: WTI bulls move in for the kill from support. The $72s are on the bulls radar. WTI is trying to correct but remains down on the day as the black gold consolidates into the weekend at around $71.85. From a point of view from analysts at TD Securities, ´´the positioning set-up in energy markets remains extremely

Share: USD/MXN eyes its first weekly gain since April 28, currently trading at 17.7767, as risk-off sentiment prompts outflows from the emerging market Peso. US Treasury Secretary Janet Yellen’s comments and Fed Chair Jerome Powell’s remarks on inflation triggered a shift towards safe-haven assets like the US Dollar. Banxico’s halt on its rate hike cycle

Share: EUR/USD bounces back from weekly lows, trading at 1.0818 following Jerome Powell’s comments about a potential pause in the Fed’s tightening cycle. Progress in US debt ceiling talks sparks optimism, with House Speaker McCarthy suggesting a deal might be reached over the weekend. In the Eurozone, the Producer Price Index rises month-on-month, while ECB

Share: Oil price reverses gains and marks a decline on Friday after Republicans walked out debt-ceiling talks with President Biden.  The US Dollar dips as safe-haven demand dries up on easing debt-ceiling worries, Oil is mainly priced in USD.  Downside for the US Dollar is likely to be contained amidst heightened inflation expectations.  Oil price

Share: GBP/USD bulls eye a continuation toward 1.2500. Meanwhile, a correction could be on the cards. As per the prior analysis, GBP/USD Price Analysis: Bulls are lurking in demand area, the price has moved into key resistance and this leaves the outlook for next week´s initial balance weighted to the downside as the following illustrates: GBP/USD

Share: Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group suggest GBP/USD could weaken further and revisit the mid-1.2300s in the near term. Key Quotes 24-hour view: “Our view for GBP to consolidate yesterday was incorrect as it plummeted to 1.2392 before recovering slightly to end the day at 1.2409 (0.63%).

Share: GBP/USD prolongs its falls past the 1.2400 figure, reaching a new three-week low at around 1.2397, as the Pound Sterling takes a hit, taking advantage of a light economic calendar in the United Kingdom (UK). Fears of a possible default in the United States (US) are fading, as talks between US Congress leaders and the White House showed

Share: UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest EUR/USD could slip back to the 1.0800 region in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘the underlying tone has softened somewhat and EUR is likely to edge lower’. We added, ‘any decline is likely part of

Share: Solid US housing market data and upbeat sentiment in US equities weaken the Japanese Yen. Improved US debt ceiling negotiations and hawkish Fed speakers keep the US Dollar climbing. Japanese economy surprises with better-than-expected Q1 GDP and consumption figures. USD/JPY rises to fresh two-week highs of 137.57, propelled by higher US Treasury bond yields

Share: USD/CAD is eyeing to reclaim the 1.3500 resistance amid a solid recovery in the USD Index. The postponement of US debt ceiling issues till the weekend has weighed on US Treasury yields. The oil price has dropped sharply as investors are worried about deepening fears of a US recession. The USD/CAD pair is looking

Share: Gold prices fall 0.80% as US economic data showcases resilience, led by strong retail sales and industrial production figures. Hawkish tones from Fed officials Mester and Barkin contribute to rising US Treasury bond yields, further pressuring gold prices. Upcoming speeches from New York Fed John Williams, Dallas Fed Lorie Logan, and Atlanta’s Fed Raphael