FX

NZD/USD advances towards a test of 0.6400 and has eyes on the 0.6450s. 0.6450 comes as a confluence between Aug high and the 61.8% retracement of the whole 2022 move. NZD/USD is stalling below 0.6400 as the US Dollar attempts to correct what has been a significant move to the downside in the currency markets this week.  At the

Extra downside could force USD/JPY to retest the 135.50 zone in the next few weeks, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “USD soared briefly to 139.89 in NY trade before plunging to 137.64. USD fell further in early Asian trade, and the strong

What you need to take care of on Friday, December 1: The market sentiment fluctuated between optimism and fear, with the US Dollar starting the day on the back foot, recovering mid-way, and finally plummeting to close it in the red against its major rivals. The latest US Dollar slump resulted from US Federal Reserve

AUD/USD gains positive traction for the second straight day amid renewed USD selling. Bets for less aggressive Fed rate hikes and slugging US bond yields weigh on the buck. China’s COVID-19 jitters could act as a headwind for the pair ahead of Powell’s speech. The AUD/USD pair attracts some buying for the second successive day

WTI bears are moving in at a critical juncture. A break of horizontal support leaves the downside exposed. West Texas Intermediate is higher on the day so far, up over 2.45% at the time of writing, having ranged between a low of $76.03 and $79.61 so far. The price has been consolidating at the top

“Russia won’t supply Oil under price cap in any case,” the country’s Deputy Prime Minister Alexander Novak said on Tuesday. Novak said: “Russia, Kazakhstan and Uzbekistan are discussing gas union for shipments, including to China.” Market reaction Novak’s comments join the upbeat market mood, lifting WTI 2.5% to trade at around the $79 mark, at

It was a volatile start to the week and the US sessions stayed with the theme. The US Dollar edged up to 106.74 on Monday, slightly recovering from a 3-1/2-month low of 105.32 with investors concerned about a global slowing economy and the spread of coronavirus in China. Federal Reserve policymakers also spoke on Monday and bucking the

While presenting the financial stability report on Monday, European Central Bank (ECB) policymaker and Slovak central bank President Peter Kazimir said that the “risk of recession in the Eurozone is growing.” “Rise in interest rates to continue despite unfavorable economic developments,” he added. Market reaction The staggering recovery in EUR/USD remains unfazed by these above comments,

Silver falls modestly on Friday, holds above key support levels.  Technical outlook presents a bullish bias but upside seems limited while under $21.50. Break under $20.85 likely to increase bearish pressure.  Silver is falling on the last day of the week. It bottomed during the American session at $21.14 and then quickly bounced back above

The Pound Sterling drops below 1.2000, set to finish the week with gains of more than 1.50%. GBP/USD: Failure to hold above 1.2100 exacerbated a fall toward the November 24 low of 1.2049. GBP/USD Price Analysis: A break below 1.2000 will exacerbate a fall towards 1.1800. The GBP/USD hovers below 1.2100 amid a subdued trading

The US Dollar stages a recovery on risk aversion spurred by the China Covid-19 crisis. USD/CAD bounced off weekly lows around 1.3300 and tested the 1.3400 mark. USD/CAD Price Analysis: The head-and-shoulders chart pattern remains intact. The US Dollar (USD) stages a recovery against the Canadian Dollar (CAD) amid a subdued trading session sparked by

The Bank of Canada (BoC) could be near the end of the interest rate hike cycle, point out analysts at RBC Capital Markets. They consider the BoC will hike by 25 basis points in December.  Key Quotes:  “Canada looks on track to deliver a GDP reading next week that’s just above our 1% (annualized) forecast

China’s coronavirus crisis weighs on WTI price, on speculations of lower demand. The Eurozone threatening to impose a cap on Rusian and a buoyant US Dollar keeps WTI defensive. WTI Price Analysis: A daily close below $80.00 could pave the way for a YTD low re-test. Western Texas Intermediate (WTI), the US crude oil benchmark,

NZD/USD has broken through the key 0.6235 resistance level and looks solid, supported by higher rates. But beware of hawkish Fed rhetoric, economists at ANZ Bank note. There is still uncertainty “We do think higher interest rates and the RBNZ’s hawkish stance are, on balance, a positive for the Kiwi, but newspapers are awash with

NZD/USD bears could be about to make their moves.  Bulls eye a run to test 0.6300 while above 0.6250. As per the prior analysis, NZD/USD Price Analysis: The Bird is in full flight, whereby the bulls were creeping higher in Asian trade despite the ground it had already made since the central bank events in the week,

US Dollar stays under pressure on thin holiday trading. Economists at Commerzbank expect the EUR/USD pair to hover around the 1.03 mark. Sit back and relax, it is likely to get a bit dull “In view of the Thanksgiving weekend, there is no data due for publication in the US. However, we are unlikely to

What you need to take care of on Thursday, November 24: The Greenback came under selling pressure on Wednesday and finished the day sharply down against all of its major rivals. The American Dollar got hit by poor growth-related data and dovish US FOMC Meeting Minutes. The document showed that most participants agreed that, despite

“It is very likely that we will see negative growth rates in the fourth quarter in the Eurozone,” European Central Bank (ECB) Vice President Luis de Guindos said on Wednesday. Further comments Upcoming inflation data projections will still be high before starting to slow down in the first quarter of 2023. Upcoming inflation projections will