FX

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

Share: Gold price has stretched its downside to near $1,990.00 amid steep recovery in the USD Index. Investors are anticipating a rebound in US inflation figures amid solid labor market conditions. Gold price is declining towards the upward-sloping trendline plotted at $1,885.77. Gold price (XAU/USD) has extended its downside to near $1,990.00 as the US

Share: GBP/USD tumbles on a worse-than-expected US Nonfarm Payrolls report, with the US economy adding fewer jobs than analysts’ consensus. However, the initial reaction favored the US Dollar (USD). At the time of writing, the GBP/USD trades volatile around the 1.2450-1.2370 range, below its opening price. Read More… GBP/USD seesaws around 1.2155-60 while printing the first

Share: EUR/USD hovers around 1.0900 after hitting a low of 1.0876. US Nonfarm Payrolls rose below forecast but cemented the case for a 25 bps Fed rate hike. ECB’s Knot: Further rate hikes need, and no rate cuts in 2023. The EUR/USD falls during the North American session and retraces towards the 1.0900 figure after

Share: EUR/GBP barely moved the needle amidst thin liquidity conditions on a worldwide holiday. A solid US jobs report pushed recession fears away, as US equity futures showed. The EUR/GBP advances for two straight days and hits a four-day high of around 0.8790 on a subdued trading session in observance of the Good Friday holiday.

Share:  Here is what you need to know for next week:  Markets continue to move fast. A month ago, Silicon Valley Bank (SVB) was still relatively unknown. Later, came the banking crisis, and now it looks like it’s the beginning of worries about global growth after softer economic data. The Federal Reserve (Fed) went from

Share: USD/INR stays well-set for three-week losing streak, down for the fourth consecutive day. Indian Rupee buyers take a breather at 11-week-old ascending trend line. Clear break of upward-sloping previous support line from September 2022, bearish MACD signal favor USD/INR sellers. Convergence of Five-month-old support line, 200-DMA appears a tough nut to crack for pair

Share: St. Louis Federal Reserve President James Bullard said on Thursday he thinks inflation is going to be sticky going forward. Regarding monetary policy, he considers that interest rates are currently at the low end of a sufficiently restrictive range. He mentioned the need to “stay at it” to get inflation back into the target. 

Share: GBP/USD is eyeing more weakness to near 1.2400 amid a dismal market mood. China’s retaliation over arms support to Taiwan by the US might result in some restrictions on exports from China to the US. Scrutiny of US ADP Employment data is indicating a slowdown in the labor market ahead. The GBP/USD pair is