FX

Gold price is consolidating Friday’s rebound amid a mixed market sentiment on Monday. Hawkish Fed outlook, China’s covid woes fail to impress US Dollar bulls. US Treasury yields rally, capping the Gold price upside. Will it reclaim $1,800? Gold price is consolidating Tuesday’s massive gains well above $1,810, as bulls take a breather before resuming the

The Bank of Japan announced a surprise change in its yield curve control policy. The immediate impact on the yen has been sizeable, with USD/JPY dropping more than 3%. The pair could slump under the 130 level, economists at ING report. BoJ delivers last shock of the year “The BoJ announced a surprising change in

NZD/USD is taking out a key level and printing fresh lows within a bearish schematic. should the bulls move in now, then there will be prospects of a restest of prior structures near 0.6355  and 0.6375 above.  NZD/USD has been chipping away at the downside in Asia, sliding to a fresh session low at the time of

Gold price moved up and down in a wide range throughout last week. XAU/USD could gain traction on a ‘Santa rally’, FXStreet’s Eren Sengezer reports. Risk perception could influence XAU/USD’s action “The Conference Board will release the Consumer Confidence Index data for December on Wednesday. In November, the one-year inflation rate expectation component of the

EUR/USD remains on the front side of the bullish cycle’s trendline. The 4-hour M-formation neckline resistance is key as bulls move in. As per the pre-open analysis, EUR/USD Price Analysis: Bulls under pressure as bears test commitments at 1.0600, there are prospects of an upside correction. Should the bulls commit beyond 1.0650, the 1.07s will be

Risk aversion weighed on high-beta currencies like the Australian Dollar. Global central banks hiking rates and eyeing additional increases sounded recession alarms, dampening investors’ mood. AUD/USD Price Analysis: Downward biased, after tumbling from weekly highs, heading to the 50-day EMA. The Australian Dollar (AUD) slides against the US Dollar (USD) amidst a dampened market sentiment

Silver prices bounce and cling to gains, despite a buoyant US Dollar. Near-term, XAG/USD might consolidate, as mixed signals between the RSI/RoC suggest caution is warranted. Silver is recovering some ground after falling to weekly lows during the New York session of $22.56. However, a late buying impulse keeps XAG/USD trading in the green with

AUD/USD turns lower for the second straight day and is pressured by a combination of factors. The Fed’s hawkish outlook, a pickup in the US bond yields act as a tailwind for the greenback. The risk-off mood further benefits the safe-haven USD and weighs on the risk-sensitive Aussie. The AUD/USD pair meets with a fresh

USD/CHF takes offers to reverse previous day’s bounce off 8.5-month low. Markets stabilize after global central banks portrayed a volatile day, allowing sellers to sneak in. Failure to cross support-turned-resistance directs bears towards three-week-old trend line support. Preliminary PMIs for December, risk catalysts will be important for fresh impulse. USD/CHF stays pressured around the intraday

The European Central Bank (ECB) announced on Thursday that it raised its key rates by 50 basis points (bps) following the December policy meeting as expected.  With this decision, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 2.5%,

The People’s Bank of China leaves the China one-year MLF rate at 2.75% (est 2.75%; prev 2.75%)  and the one-year MLF Volume was set at 650B vs. (est 500.0B; prev 850.0B). USD/CNY is under pressure at a key level of support: China’s worsening economic slump is expected to keep the People’s Bank of China on its easing

Cable remains firmafter having reached a fresh multi-month high of 1.2443 on Tuesday. Economists at Scotiabank expect the GBP/USD pair to attack the 1.2450/60 area. GBP/USD appears to be consolidating “Cable is well-supported against rising, short-term trend support off the early Nov low at 1.2320 intraday.” “The GBP appears to be consolidating ahead of another push

NZD/USD takes offers to pare the biggest daily gains in two weeks around six-month high. NZ HYEFU forecasts three quarters of negative GDP growth for New Zealand. RBNZ defends rate hike forecasts by expecting higher levels of employment, inflation. US inflation bolstered calls for Fed’s 50 bps rate and less-hawkish policy in 2023 but surprises

AUD/USD regains some positive traction on Tuesday amid a modest USD weakness. A positive risk tone and softer US bond yields keep the USD bulls on the defensive. Traders now look to the US CPI for a fresh impetus ahead of the key FOMC meeting. The AUD/USD pair attracts fresh buying near the 0.6740-0.6735 region

NZD/USD seesaws around intraday high, remains indecisive on a day. Convergence of 50-SMA, one-week-old ascending trend appears a tough nut crack for bears. Bulls need validation from 0.6420 to retake control. NZD/USD takes rounds to 0.6390 during early Tuesday as the Kiwi pair traders await more clues to extend the latest recovery from the key

GBP/USD Forecast: Pound Sterling struggles to benefit from upbeat UK data GBP/USD has started the new week in an indecisive manner with market participants refraining from making large bets ahead of the high-tier data releases and all-important central bank decisions. The pair’s short-term technical outlook points to a loss of bullish momentum but it would

AUD/USD takes offers to refresh intraday low, prints the first daily loss in four. 61.8% Fibonacci retracement level will challenge the bears ahead of the key 0.6690 support confluence. Rising wedge teases sellers, 200-day EMA acts as immediate upside hurdle. AUD/USD begins the key week on the negative side as it takes offers to refresh

Europe and the G-7 started applying a price cap to oil prices, crude plunged. EU Commission President Von der Leyen anticipated more sanctions ahead. WTI trades near a weekly low of $71.11 a barrel, the lowest since December 2021. The barrel of West Texas Intermediate Crude Oil plummeted this week and trades at levels that