FX

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

Share: In an interview with the Financial Times late Monday, Thomas Barkin, president of the Federal Reserve Bank of Richmond, “if inflation persists, or God forbid accelerates, there’s no barrier in my mind to further increases in rates.” Additional quotes “Would advocate for a “steady” approach that would “lessen the damage of any potential overcorrection”. “It is not

Share: USD/CAD made a U-turn after hitting a daily high of 1.3567 due to overall US Dollar weakness. The risk-on impulse and higher oil prices underpinned the Canadian Dollar. Canadian housing started increasing by 22% in April, with total units rising to 261,600. USD/CAD makes a U-turn after hitting a daily high of 1.3567 due

Share: Open interest in gold futures markets shrank by around 2.3K contracts after four consecutive daily builds on Friday, according to preliminary readings from CME Group. Volume followed suit and dropped by around 127.2K contracts following three daily advances in a row. Gold remains supported by $2000 Friday’s third consecutive daily drop in gold prices

Share: USD/CAD bulls tear through prior resistance with eyes on the 1.3580s. Bears are lurking, waiting to pounce on a correction.  USD/CAD is on the front side of the bullish trend and momentum is strong. At the time of writing, USD/CAD is trading higher by some 0.48% and rallied from a low of 1.3477, scoring a

Share: AUD/USD bears are in the money but bulls are lurking from daily support.  A move back to challenge channel resistance could be on the cards for the initial balance at the start of the week.  AUD/USD could be on the verge of moving back inside of the sell-off range. The M-formation is a reversion pattern and

Share: GBP/USD bears move into the 1.2450s that are holding up currently. 1.2480/2500 is eyed to the upside should the bulls take over.  GBP/USD is down on the day by some 0.45% and has fallen from a high of 1.2540 to a low of 1.2448 on the day as speculators continue to cut their short GBP positions.

Share: The Board of Directors of the Bank of Canada (BoC) announced on Friday the appointment of Rhys R. Mendes as Deputy Governor, effective July 17, 2023.  “As Deputy Governor, Mr. Mendes will join the Bank’s Governing Council, which sets the strategic direction of the Bank and is its policy-making body. He will oversee the