FX

Share: Open interest in gold futures markets rose by just 300 contracts on Tuesday after two daily drops in a row according to preliminary readings from CME Group. Volume, instead, shrank for the second straight session, now by more than 105K contracts. Gold faces some consolidation near term Tuesday’s uptick in gold prices was on

Share: Federal Reserve’s policymakers’ hawkish comments did not underpin the US Dollar US housing data missed estimates, though EUR/USD traders ignored it. EUR/USD Price Analysis: Upside risks lie at 1.1000, potentially exposing the YTD high; downside risks are below 1.0900. EUR/USD snaps two days of consecutive losses and climbs, and seesaws around the 1.0950 figure,

Share: New Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday, there is “no immediate need to review the 2013 joint statement with the government.” Ueda added that the “government labor reform has helped revive the economy.” Market reaction USD/JPY is unfazed by the above comments, keeping its range near 134.35, down 0.08% on

Share: Greenback stages a comeback, boosted by higher US Treasury bond Yields Empire State Index surprises with 10.8 point jump in March’s report. GBP/USD Price Analysis: Double top emerges, but the pair must fall below 1.2344 to confirm the pattern. GBP/USD dropped after forming a double top in recent price action during the last nine days

Share: GBP/JPY prints mild gains within bearish chart formation. Downbeat MACD signals, clear break of three-week-old previous support line keeps sellers hopeful. 100, 200 SMAs can prod bears before directing them to theoretical target of 162.30. Bulls need to cross the 167.00 hurdle to retake control. GBP/JPY remains mildly bid near 166.40 heading into Monday’s

Share: Sentiment deterioration, amidst mixed Fed signals, weakened the NZD. Inflation expectations in the United States moved higher, according to Americans. NZD/USD traders are eyeing next week’s NZ CPI report. NZD/USD snapped two days of consecutive gains and slid past the 200, 50, and 100-day Exponential Moving Averages (EMAs) on a risk-off impulse spurred by

Share: The US Dollar Index found bids at around the YTD lows at 100.788. USD bulls must retake 104.000 to challenge YTD high at 105.883 and maintain a double-bottom approach. Contrarily, USD bears must reclaim 100.788 to test the 200-week EMA at around 99.117. The US Dollar Index (DXY), a basket of six currencies against

Share: Here is what you need to know for next week: Markets are offering mixed signs amid an uncertain outlook. Not even central bankers know what to do next. After crucial economic data from the US, what is clear is that the economy is softening and inflation is slowing down. Another week went without a

Share: The US dollar is rising sharply on Friday, trimming weekly losses after the release of US economic data. GBP/USD is falling almost a hundred pips on the day, trading at 1.2445. Read More… The continuation of the upside momentum could motivate GBP/USD to challenge the 1.2600 neighbourhood in the next few weeks, suggest Markets Strategist Quek Ser Leang and Senior

Share: Early this week, Twitter merged with X Corp. as Elon Musk advances his idea of an ‘everything app’. We discuss Musk’s obsession with ‘X’ and where it all began and explore some of the potential barriers to achieving his vision. We then examine the first of the major US banks to report Q1 earnings.

Share: USD/MXN retreats from intraday high, snaps two-day losing streak. Three-week-old descending trend line restricts immediate upside ahead of the key SMAs. RSI pokes short-term resistance line during eight-day-long bearish trend, suggesting return of upside momentum. Rising support line from early March, YTD low joins downbeat RSI to challenge Mexican Peso buyers. USD/MXN eases from

Share: Silver price is poised for upward momentum, above $26.00. The rate of Change (RoC) remains bullish, but the RSI portrays XAG as overbought. Silver price advanced to a new YTD high at $25.96, though it fell short of cracking the $26.00 figure, which would have opened the door towards testing, last year’s peak, nearly

Share: In light of the recent price action, GBP/USD is now expected to meet the next up barrier at 1.2525 seconded by 1.2600, note UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: “Our view of range trading in GBP was incorrect as it soared to a high

Share: San Francisco Federal Reserve Bank President Mary Daly said that they had good news on inflation but added that she doesn’t want to forecast the end of the tightening cycle, as reported by Reuters. Key takeaways “Bank stresses have stabilized.” “We have tools for monetary policy, financial stability and they don’t compete with each

Share: USD/INR has continued its auction above 82.00 ahead of US Inflation data. FIIs are turning buyers in the Indian market after months of correction. Oil prices are expected to extend their upside above $81.50 on expectations that the Fed will reach its terminal rate sooner. The USD/INR pair has delivered a flat opening above

Share: US Dollar weakens against its major rivals following the Easter holiday. EUR/USD holds above key support despite the latest pullback. March CPI data from US could significantly impact US Dollar’s valuation. The US Dollar (USD) stays on the back foot on Tuesday and weakens against its major rivals as investors gear up for the

Share: Natural Gas price grinds higher after rising the most in a month the previous day. Clear break of 100-SMA, one-week-old descending trend line joins bullish MACD signals to lure XNG/USD buyers. 1.5-month-long horizontal hurdle comprising 200-SMA appears a tough nut to crack for Natural Gas buyers. Natural Gas (XNG/USD) remains mildly bid around the

Share: US Dollar accelerates its recovery on Monday after a long weekend.  US yields move higher following NFP, ahead of US CPI.  XAU/USD fails to hold above $2,000; extends correction from monthly highs.  Gold price is falling by more than 1% on Monday following Friday’s NFP and ahead of crucial US consumer inflation numbers. XAU/USD