FX

GBP/JPY takes offers to refresh intraday low, down for the second consecutive day. Market sentiment improves on mixed US data, China stimulus. Cautious optimism of Japan government, challenges for BOJ’s easy money policy seem to underpin JPY strength of late. A light calendar keeps risk catalysts in the driver’s seat, Jackson Hole in focus. GBP/JPY

Nvidia will release official Q2 earnings after the close on August 24. Wall Street consensus is for adjusted EPS of $0.52 on $6.7 billion in sales. NVDA pre-reported Q2 revenue due to demand weakness. Nvidia (NVDA) will unveil earnings for the second fiscal quarter of 2023 after the close on Wednesday, August 24. NVDA shares are

AUD/USD remains pressured around intraday low, reverses the previous day’s rebound from monthly bottom. Multiple swings around 61.8% Fibonacci retracement level highlight 0.6850 as the key support. Short-term bearish channel, pullback from 200-EMA also keep sellers hopeful. AUD/USD sellers attack 0.6900 while consolidating the bounce off the monthly low during Wednesday’s Asian session. The Aussie

USD/TRY extends the advance north of 18.00 on Tuesday. The rally in the US dollar sustains the upside in spot. Türkiye Consumer Confidence improved to 72.2 in August. The persistent upside momentum in the greenback lifts USD/TRY to the area of 2022 highs past the 18.00 hurdle on Tuesday. USD/TRY up on USD-buying, targets the

Japanese Foreign Minister Yoshimasa Hayashi said on Tuesday that “we should continue stringent measures against Russia.” Additional quotes Discussed Ukraine’s situation with other ministers. Will continue strong support for Ukraine. Japan PM Fumio Kishida said we must secure a steady supply of energy. Japan PM Kishida said to continue diplomatic measures including sanctions against Russia

Senior Economist at UOB Group Alvin Liew assesses the latest publication of the FOMC Minutes. Key Takeaways “The key takeaways from the 26-27 Jul FOMC minutes released overnight (18 Aug, 2am) were that as at late Jul, Fed policy makers agreed there was ‘little evidence’ inflation pressures were subsiding and that it would take considerable

The greenback bulls are aiming to re-test the 19-year low at 0.9952. The 10-and-20-EMAs are scaling lower, which adds to the downside filters. A (20.00-40.00) bearish range shift by the RSI (14) signals more downside ahead. The EUR/USD pair has given a downside break of the consolidation formed in a narrow range of 1.0030-1.0046 in

The gold price plunged 3% in the week, despite investors’ perceived dovishness of July’s FOMC minutes. US central bank policymakers continued their campaign against inflation, even though they acknowledged downside risks to growth. Gold Price Analysis (XAU/USD): Break below $1750 opened the door towards the $1711-$1739 range. Gold price drops for the fifth-consecutive day, set to

AUD/USD plunged more than 0.50% on Friday amidst a buoyant greenback. The major slid in each day of the week; losing between Monday-Wednesday almost 3%. A break below 0.6869 clears the path towards 0.6800, followed by 0.6718. The AUD/USD refreshed four-week lows preparing to finish the week with hefty losses, equal to 3.50%. The Aussie

GBP/USD collapses to fresh six-week lows reached at 1.1791. Sentiment shifted sour as traders assessed recent Fed hawkish commentary. UK’s released data was mixed, with GfK consumer sentiment plunging, whereas Retail sales beat expectations. The GBP/USD plunges in the North American session due to sentiment turning sour as traders reassess their reading of recent Fed

Richmond Federal Reserve Bank President Thomas Barkin said on Friday that FOMC policymakers had “a lot of times still” before they decide on the size of the September rate increase, as reported by Reuters. Additional takeaways “Fed will need to move rates to restrictive territory but will take signal from the economy on how high that

MNMD stock is up about 20% in Friday’s premarket. MindMed stock is the newest interest of BBBY champion Jake Freeman. Mindmed stock closed up 36% on Thursday. MindMed (MNMD) is at it again. The trendy psychedelic pharma stock has added 19.6% to trade at $1.22 in Friday’s premarket. Much of the interest surrounding the small-cap

AUD/USD sellers keep reins during five-day downtrend to refresh fortnight low. Clear downside break of 200-SMA, bearish MACD signals direct sellers towards the key support line. Weekly resistance line adds to the upside filters, 61.8% Fibonacci retracement level becomes additional support. AUD/USD remains on the back foot as sellers attack the 0.6900 threshold while poking

DXY adds to Wednesday’s uptick and retargets 107.00. Above 107.00 the index could revisit the weekly high at 107.42. DXY extends the upside for the second session in a row on Thursday, although another test of the 107.00 neighbourhood remains elusive for the time being. The continuation of the upside momentum could extend to the

AUD/NZD hourly chart bears are lurking near a 78.6% Fibonacci as a potential last defence. The price action will likely occur around critical Aussie data today.  Australian labour market data will be key today but the technicals for AUD/NZD are mixed heading into the data. From a daily perspective, there appears to be a bullish bias

Retail Sales in the US stayed unchanged on a monthly basis in July. US Dollar Index continues to push higher toward 107.00. Retail Sales in the US stayed virtually unchanged at $682.8 billion in July, the data published by the US Census Bureau showed on Wednesday. This reading followed June’s increase of 0.8% and came

GBP/USD Price Analysis: Pokes weekly resistance line around 1.2100 GBP/USD picks up bids to extend the previous day’s recovery to 1.2100 during Wednesday’s Asian session. In doing so, the Cable pair approaches a one-week-old resistance line while also portraying the third bounce off the 50% Fibonacci retracement level of July-August advances. Read More … GBP/USD

EUR/USD drops further and revisits the 1.0120 area. Extra losses should meet solid support around 1.0100. EUR/USD challenges the August lows in the vicinity of 1.0120 on turnaround Tuesday. While further correction appears likely in the short-term horizon, the lower end of the recent range in the 1.0100 zone should offer decent support prior to