FX

Share: Crude oil has weakened significantly in the last two weeks. Economists at Rabobank expect Brent Oil to test the $70 mark.  Second half of 2023 will witness crude oil prices in the $90s “Declining diesel crack spreads as fears of a wider economic slowdown materialize has led us to caution that Brent will test

Share: AUD/NZD seesaws, after NZ Employment data came aligned with estimates. The AUD/NZD rally to weekly highs after the RBA’s decision was short-lived, as the cross paired those gains. Traders await the release of S&P Global PMIs for Australia at around 23:00 GMT. The AUD/NZD floats at around the 1.0730 area, after Tuesday’s session, witnessed

Share: US Dollar starts the month of May on a firm footing, gathers strength against its major rivals. US Dollar Index climbed to its highest level in three weeks above 102.0. Federal Reserve’s policy meeting could significantly influence the US Dollar’s valuation this week. The US Dollar gathered bullish momentum on Monday and the US

Share: AUD/USD fails to extend week-start gains, remains pressured of late. First Republic Bank linked improvement in market sentiment, mixed Aussie PMI allowed buyers to prepare for RBA. US Dollar remains firmer despite unimpressive data, cheers upbeat yields, immediate solution to banking fallout. RBA is expected to keep the benchmark rates unchanged, future guidance is

Share: Commenting on the US growth data, “GDP growth slowed to 1.1% q/q annualised, according to the advance estimate, which was well below our and consensus forecasts for a 2% expansion, and down from 2.6% growth in Q4,” said Bill Diviney, Senior Economist at ABN Amro. Consumption still grew very strongly in the first quarter

Share: S&P 500 continued the short squeeze, more than vindicating my call for no setback Friday. Market breadth and internal strength isn‘t though that positive – yet markets are celebrating as if the banking crisis was over, as if the Fed pivoted, or as if Big Tech earnings were to lend similar resilience to other

Share: USD/JPY skyrocketed after BoJ’s dovish decision and high US core PCE data. USD/JPY Price Analysis: Rallied more than 200 pips, set for a pullback, before challenging YTD high, The USD/JPY rose sharply after the first monetary policy decision by the Bank of Japan (BoJ) new Governor Kazuo Ueda struck a dovish tone, a greenlight

Share: WTI is set to post back-to-back weekly losses, despite gaining more than 2% on Friday. US crude oil output shortages were outweighed by gasoline demand; therefore, WTI rose. Western Texas Intermediate (WTI), the US crude oil benchmark, posted gains of more than 2% after US companies related to the energy sector exceeded earnings estimates.

Share: Analysts at MUFG Bank continue to see the EUR/USD pair moving to the upside over the next few days. They expect the pair to break out to the upside and move back closer to pre-Ukraine conflict levels from early last year. Key quotes:  “The pair has been attempting to break above the top of

Share: The Central Bank of Colombia (BanRep) raised its key interest rate by 25bps to 13.25%. Analysts at TD Securities think this was the last hike in the cycle and they warn that after the recent Cabinet reshuffle form the President, the central bank has now additional reasons to be cautious in coming months. Key

Share: The preliminary release published by Eurostat revealed on Friday that the Eurozone economy expanded by 0.1% on a quarterly basis in the three months to March of 2023, missing the 0.2% expected and against the no growth seen in the previous quarter. The bloc’s annual GDP rate grew by 1.3% in the first quarter (Q1)

Share: Amazon lapped earnings expectations for Q1. AMZN stock jumped 8.3% on the news. Most growth came from the North America segment. Resistance sits in the $120 to $122 range. Jeff Bezos couldn’t be prouder. Amazon (AMZN) stock popped more than 8% late Thursday on the retail/cloud powerhouse’s robust first quarter earnings beat. Amazon reported $0.31

Share: US GDP is forecast to grow at an annual rate of 2.0% in the first quarter of 2023. The US Dollar value will probably continue to be determined by risk perception. After data released by the US Bureau of Economic Analysis, markets will pay close attention to Q1 earnings reports. The Gross Domestic Product

Share: S&P 500 index is moving into what could be a support area after breaking the structure of 4,069.   The market will remain biased to the downside while below the 78.6% Fibonacci level and on the backside of the prior bullish trendline.  the S&P 500 dropped again on Wednesday and took out structure on

Share: Big-name tech earnings are in acute focus this week and Meta (formerly Facebook) will be eyed carefully by investors for signs of where the company is heading with the so-called ‘Metaverse’. The Metaverse idea seemed to be peaking as the Covid induced lockdowns kept everyone apart. However, with non-Covid life now being enjoyed by

Share: Microsoft beat Wall Street consensus on sales, revenue for FQ3. Cloud revenue rose 22% YoY. Personal Computing was the sore segment in the report. Microsoft is moving ahead with Activision buyout. Microsoft (MSFT) stock advanced a solid 5% late Tuesday on the mega cap’s hefty beat of Wall Street consensus for the most recently

Share: Extra gains in USD/CNH are likely on a breakout of the 6.9350 region in the near term, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: “We expected USD to trade with an upward bias yesterday but we held the view that ‘any advance is likely

Share: WTI increased due to optimism for higher fuel demand during China’s holiday travel season. OPEC+ producer group’s planned supply cuts may tighten the oil market. WTI Price Analysis: Neutral to downward bias remains as oil dips below crucial EMAs. In the mid-Monday North American session, WTI crude oil prices continued to climb, trading at