FX

Economists at Credit Suisse hold a 1.30 USD/CAD target ahead of today’s Bank of Canada (BoC) rate decision. They do not expect the BoC to alter its assessment of housing risks, but markets will be on the lookout for dovish hints. BoC unexpected to alter its assessment of housing risks “In the more likely event

Silver slides on safe-haven flows towards US Treasuries as bond yields fall The greenback takes a breather after reaching a 24-year high above 108.000, a respite for silver traders. The US 2s-10s yield curve screams recession, falling to 2007 levels at around -0.107%. Silver (XAGUSD) remains on the defensive as Tuesday’s North American session progresses,

GBP/JPY extends the week-start pullback amid risk-aversion. UK’s political leaders step forward for President’s chair after Boris Johnson’s departure. Treasury yields remain pressured, portray recession fears as inflation expectations soar. The second round of BOE Governor Bailey, risk catalysts will be important to watch for fresh impulse. GBP/JPY holds lower ground near the intraday bottom

The white metal remains downward biased but appears to have found a base around $19.00. Safe-haven flows toward the greenback, and US Treasuries keep the precious metals complex under pressure. The US 2s-10s yield curve is still inverted, flagging recession fears. Silver (XAGUSD) is subdued during the North American session, seesawing for the fourth consecutive

A combination of factors assisted USD/CAD to regain positive traction on Monday. Sliding oil prices undermined the loonie and extended support amid a stronger USD. Aggressive Fed rate hike bets, softer risk tone lifted the USD closer to a 20-year high. The USD/CAD pair attracted fresh buying near the 1.2940 region on Monday and for

EUR/USD bulls could be about to make their move.  Traders are watching the US dollar for the start of the week and opening sessions.  The euro could benefit at the start of the week so long as the greenback continues to correct to the downside. In the charts below, it is illustrated that the DXY

June’s US Nonfarm Payrolls report exceeded expectations, further cementing the case for a Fed’s 75 bps rate hike. The consensus amongst ECB policymakers is for a 25 bps rate hike in July; September is still open. EUR/USD Price Analysis: Sellers in control might take a breather before launching an assault towards parity. EUR/USD remains subdued

The USD/JPY has been trading in a choppy 100 pip range for the last five days. The major seesawed spurred by the assassination of Japan’s ex-PM Abe and upbeat US economic data. USD/JPY Price Analysis: Range-bound, but the RSI’s aiming lower and USD/JPY uptrend overextended, might pave the way for further downside. USD/JPY is subdued as

Wall Street turns positive on Friday, helping MXN. US jobs report shows better-than-expected numbers. USD/MXN corrects lower, the trend is still bullish. The USD/MXN is modestly lower on Friday still up for the week. It bottomed at 20.36, a three-day low before bouncing to the 20.45 zone. The outlook remains bullish for the pair. Fed

During the week, the Swiss franc is still under heavy pressure, losing more than 2%. Broad US dollar strength across the board underpins the USD/CHF. USD/CHF Price Analysis: The pave towards parity is clear, but 0.9800 and 0.9975 are still on the way for USD/CHF buyers; otherwise, a re-test of 0.9700 is on the cards.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet

The yellow metal got bolstered by an upbeat sentiment and a soft US dollar. Gold’s recovery might be short-lived as US Treasury yields rise, a headwind for XAUUSD’s prices. Gold Price Forecast (XAUUSD): Could uptick towards $1760 before continuing to the downside. Gold (XAUUSD) spot bounces off the multi-month lows at around $1730s and grinds

Open interest in gold futures markets went up for the second session in a row on Wednesday, this time by more than 5K contracts according to preliminary readings from CME Group. Volume, instead, reversed four consecutive daily builds and shrank by around 34.7K contracts. Gold: Next on the downside comes $1,721 Gold prices tumbled to

The Loonie weakens in the week, weighed by a solid buck and falling energy prices. Global equities dropped, illustrating a dampened market mood, courtesy of recession fears and China’s Covid-19 outbreak. USD/CAD traders braces for FOMC June’s monetary policy minutes. The USD/CAD rises for the second consecutive day, extending its weekly gains to almost 1.50%,

EUR/USD remains pressured around the lowest levels since late 2002. Oversold RSI, rectangle formation limit the pair’s immediate moves. 20-HMA guards immediate rebound, previous support, 100-HMA challenge intraday bulls. EUR/USD bears take a breather around almost 20 years even if traders flirt with the 1.0250 heading into Wednesday’s European session. It’s worth noting that the

In recent trade, UK political Tory resignations are dropping like bombs due to the incompetence of the PM. Firstly, British Health Secretary Sajid Javid resigned from Prime Minister Boris Johnson’s government on Tuesday, he said in a statement. We then had news across Twitter that the UK’s Finance Minister Rishi Sunak resigned. The public rightly

USD/CAD has sensed offers around 1.2870 as the DXY is displaying a subdued performance. An underperformance is expected from the US and loonie region on the employment generation front. Oil prices are facing a correction however the broader context is bullish. The USD/CAD pair has witnessed a rejection after attempting an upside break of the

Calm market on Monday amid US holiday. Emerging market currencies remain under pressure on recession fears and higher interest rates. USD/MXN firm while above 20.20 looking at 20.45. The USD/MXN is practically unchanged on Monday, hovering slightly below 20.30, holding onto last week’s gains. With US markets closed, price action will likely remain limited. The