FX

Share: Kit Juckes, Chief Global FX Strategist at Société Générale, expects the JPY, CAD and AUD to remain under downside pressure in the short term. USD/CHF is closer to being a sell than DXY is “I can see no support coming for the Yen, the Loonie or even the Australian Dollar in the near-term.”  “But

Share: GBP/USD stays around 1.1840s, following hawkish remarks by the US Federal Reserve (Fed) Chair Jerome Powell. Powell’s two-day testimony before the US Congress will conclude on Wednesday at the US House of Representatives, with market participants expecting him to remain hawkish. Therefore, the GBP/USD is exchanging hands at 1.1843, gaining 0.10%. Read More… The GBP/USD pair consolidates the

Share: NZD/USD languishes near its lowest level since November amid sustained USD buying. The USD remains pinned near a multi-month top amid bets for aggressive Fed rate hikes. The prevalent risk-off environment further acts as a headwind for the risk-sensitive Kiwi. The NZD/USD pair seesaws between tepid gains/minor losses, around the 0.6100 mark through the

Share: GBP/USD plunges over 100 pips as the US Federal Reserve (Fed) Chairman Jerome Powell testifies at the US Senate on Tuesday. The US Dollar is rising despite US Treasury bond yields dropping. At the time of writing, the GBP/USD is trading at 1.1854 after hitting a daily high of 1.2065. Read More… The GBP/USD pair comes

Share: NZD/USD regains positive traction on Tuesday, though any meaningful upside still seems elusive. A generally positive risk tone undermines the safe-haven USD and benefits the risk-sensitive Kiwi. The market focus remains on Fed Chair Jerome Powell’s semi-annual congressional testimony. The NZD/USD pair attracts some buying on Tuesday and builds on the overnight late rebound

Share: WTI bulls are moving back in for a test in the $80s.  The focus will be back on the US economy this week.  West Texas Intermediate (WTI) erased earlier declines and is up for the fifth straight day, moving in on the $80s. It has made the highest closing price in the futures markets in three

Share: Over the last month, only the MXN has outperformed the SEK versus both the USD and EUR. Economists at CIBC Capital Markets expect the Krona to continue strengthening over the coming months. Riksbank to tighten by a further 50 bps in April “In the context of elevated core prices, we would expect the Riksbank

Share: The National Bank of Canada revised its year-end target for the USD/CAD pair from 1.27 to 1.32. however, they warn that the reopening of the Chinese economy, coupled with the disruption of commodity supplies due to the war in Ukraine, will help limit the depreciation of the Canadian Dollar. Weak Canadian GDP = BoC

Share: Next week, the Bank of Canada (BoC) will have its monetary policy meeting. No change in rates is seen. Analysts at TD Securities point out that the forward guidance is not expected to change significantly from the January meeting. BoC: Live to hold another day “The downside surprise on Q4 GDP should allow the

Share: EUR/USD to finish the week above 1.0600 after hitting a weekly low of 1.0533. A risk-on impulse and falling UST bond yields are a headwind for the US Dollar. US ISM Non-Manufacturing data showed the US economy remains resilient. EUR/USD reversed its course and is set to finish the week with gains of more

Share: USD/JPY retreats from weekly highs amidst an offered US Dollar. Upbeat US economic data failed to bolster the US Dollar. USD/JPY Price Analysis: Bullish above 136.00; otherwise, a retest of 134.00 is on the cards The USD/JPY slides from 136.70s toward the 136.00 area on Friday amidst broad US Dollar (USD) weakness even though

Share: What you need to take care of on Monday, March 6: The Greenback lost ground on Friday and finished the week lower. Positive data from China and a retreat in US yields kept the DXY in negative territory. US Stocks posted weekly gains after sharp losses in February. The improvement in market sentiment contributed

Share: FX option expiries for Mar 3 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts         1.0500 1.8b 1.0550 577m 1.0595 2.2b 1.0625 893m 1.0675 969m 1.0700 1.8b – GBP/USD: GBP amounts      1.2060 645m – USD/JPY: USD amounts                      135.00 795m 136.00 718m – AUD/USD: AUD amounts   0.6800 951m

Share: The GBP/USD retraces back below the 1.2000 figure after US economic data warranted further tightening by the US Federal Reserve (Fed), as reflected by the US Treasury bond yields reaction. At the time of typing, the GBP/USD exchanges hand at 1.1950, below its opening price by 0.66%. Read More… The GBP/USD pair comes under intense selling

Share: Investors are showing caution for Asian stocks amid soaring US Yields. Chinese equities have failed to capitalize on upbeat Caixin Manufacturing PMI data. Upbeat Caixin PMI and lower-than-expected US oil inventory report have infused fresh blood into the oil bulls. Markets in the Asian domain have turned cautious as US Treasury yields are soaring

Share: AUD/USD rallies towards trendline resistance. Bears could be lurking in the 0.68s as W-formation is a pull.  AUD/USD bulls were thrown a lifeline in Asia following Chinese data that surprised in a big way to the upside, following a disappointment in local data from Australia that would have otherwise tipped the bias to the

Share: UOB Group’s Economist Lee Sue Ann and Market Strategist Quek Ser Leang suggested EUR/USD is now likely to trade within the 1.0530-1.0670 range in the near term. Key Quotes 24-hour view: “We highlighted yesterday that the robust rebound in EUR could extend but a sustained rise above 1.0625 is unlikely. We indicated, the next

Share: EUR/USD’s rally has been met with strong opposition from the bears. EUR/USD bulls have not thrown in the towel yet and eye 1.0700. As per the prior analysis, EUR/USD Price Analysis: Bulls on the sidelines in anticipation of a discount, the more composed bulls, tolerant of the initial runaway train who waited for a discount