FX

Turnaround Thursday followed by falls on Friday as the roller coaster ride continues. Earnings season is now in full swing with Tesla and Netflix this week. Bond yields and oil move lower, so can this rally still be on the cards? The stock market continues to try and work out its direction as the wild swings in

US Dollar Index takes offers to renew intraday low, snaps two-week uptrend. Headlines from the UK, light calendar allows DXY bulls to take a breather. Fed’s 75 bps rate hike appears certain as policymakers, data favor the hawkish move. Risk catalysts may entertain traders, suggesting a pullback amid a sluggish start to the week. US

GBP/JPY erases some of its gains, set to finish the week with more than 3% gains. GBP/JPY traders mainly ignored UK’s political turmoil. The cross-currency is range-bound, as depicted by the one-hour chart. The GBP/JPY trims some of its Thursday’s losses but remains nearby weekly highs at around the 166.00 area, despite UK’s political turmoil,

AUD/USD finished the week with substantial losses of 2.61%. On Friday, the AUD/USD seesawed on a 200-pip range, notably reaching a weekly close below 0.6200. AUD/USD Price Forecast: To tumble to 0.6100 if sellers clear the YTD low; otherwise, a move towards 0.6300 is on the cards. On Friday, the Australian dollar finished the week

Data released on Friday showed retail sales remained unchanged in September compared to August. Stripping volatile retail segments suggests some modest upward risk to third-quarter goods spending, explain analysts at Wells Fargo. They point out that the report adds to recent evidence that consumer staying power may be waning, but it’s showing few signs of

The US dollar appreciates again on Friday and approaches 1.3800. A mixed US Retail Sales report has been overlooked. USD/CAD seen appreciating beyond 1.4000 – TDS. The US dollar firmed up on Friday to retrace most of the previous day’s losses. The pair has reached a session high at 1.3875, after bouncing near 1.3700 earlier

EUR/USD fades part of the post-CPI sharp upside on Friday. Next on the downside now comes the weekly low near 0.9630. EUR/USD gives aways most of its recent advance to the area just above the 0.9800 mark at the end of the week. The continuation of the pullback appears on the cards and carries the

AUD/USD awaits more clues to extend the bounce off yearly low, steady of late. Doubts over the latest rebound, pre-data anxiety challenges the upside moves. China inflation, trade numbers will direct immediate moves amid hopes of a pullback. US Retail Sales, Michigan CSI will also be important for fresh impulse. AUD/USD steadies near 0.6300, after

Moderna stock jumps sharply on Wednesday, up over 8%. News of a Merck option boosts the stock. News around covid is also seen to boost Moderna’s potential. Moderna (MRNA) was one of the hot stocks of the covid era before eventually winding down as it appeared we had finally overcome the scourge of covid. Perhaps not so fast

USD/CAD grinds higher as bulls await key data after three-day ruling. Oil pauses downside as Saudi Arabia defends latest OPEC+ supply cut agreement. Cautious mood, hawkish Fed bets challenge movement even as softer yields tease bears. US CPI for September can keep buyers hopeful considering upbeat Fed Minutes. USD/CAD stays defensive around 1.3820, pausing a

Strategists at TD Securities (TDS) offer a brief preview of the September FOMC monetary policy meeting minutes, due for release later during the US session this Wednesday. Key Quotes: “At the meeting, the dot plot median revealed a higher-than-expected Fed Funds terminal rate of 4.625%, with a fairly even dot distribution around this level. The

EUR/USD fades the bounce off a 13-day-old horizontal support. Hawkish ECB commentary, pullback in yields triggered previous corrective bounce. Higher US inflation expectations, risk-off mood keep bears hopeful. Bears eye FOMC Meeting Minutes to confirm high wagers on Fed’s November move, ECB’s Lagarde may struggle to lure buyers. EUR/USD struggles to defend the latest rebound

EUR/USD attempts a mild recovery just above the 0.9700 barrier. If bears push harder, the pair could see the 2022 low retested. EUR/USD finally sees some respite to the persistent decline and rebounds from lows near 0.9670 on Tuesday. Despite the bounce, further losses remain well in the pipeline for the time being. That said,

NZD/USD licks its wounds near the lowest levels since March 2020, printing mild gains around 0.5570 while snapping a three-day downtrend during Tuesday’s session. In doing so, the Kiwi pair ignores the bearish signals flashed by the options market traders, via the Risk Reversal (RR). That said, the one-month RR of the NZD/USD pair, the

S&P 500 closes the week sharply lower as the jobs report causes a sell-off. SPY still finished the week over 1% higher due to a strong Monday and Tuesday rally. Energy (XLE) is once again back at the top of the charts. A volatile week, they all seem to be at present, as Monday and Tuesday’s

WTI keeps Friday’s pullback from six-week high, dribbles around intraday low of late. US criticism of OPEC+ move joins downbeat China data, hawkish Fed bets to probe oil bulls. Escalating geopolitical tensions and challenges for rate hikes from the global central banks favor bulls. IMF, World Bank meetings could entertain oil traders, US inflation, Fed

EUR/USD fell sharply with the initial reaction to US jobs report. Nonfarm Payrolls in the US rose by 263K in September. The pair remains on track to end the week little changed. EUR/USD managed to erase a large portion of its daily losses but lost its recovery momentum before reaching 0.9800. As of writing, the

The US Nonfarm Payroll report showed that the country added 265K jobs in September. Wall Street holds on to intraday losses but pared the bleeding. GBP/USD cannot bounce ahead of the weekly close, hinting at more pain ahead. Following the US monthly employment report, the American dollar rallied, pushing GBP/USD down to an intraday low