FX

Richmond Federal Reserve Bank President Thomas Barkin said on Friday that FOMC policymakers had “a lot of times still” before they decide on the size of the September rate increase, as reported by Reuters. Additional takeaways “Fed will need to move rates to restrictive territory but will take signal from the economy on how high that

MNMD stock is up about 20% in Friday’s premarket. MindMed stock is the newest interest of BBBY champion Jake Freeman. Mindmed stock closed up 36% on Thursday. MindMed (MNMD) is at it again. The trendy psychedelic pharma stock has added 19.6% to trade at $1.22 in Friday’s premarket. Much of the interest surrounding the small-cap

AUD/USD sellers keep reins during five-day downtrend to refresh fortnight low. Clear downside break of 200-SMA, bearish MACD signals direct sellers towards the key support line. Weekly resistance line adds to the upside filters, 61.8% Fibonacci retracement level becomes additional support. AUD/USD remains on the back foot as sellers attack the 0.6900 threshold while poking

DXY adds to Wednesday’s uptick and retargets 107.00. Above 107.00 the index could revisit the weekly high at 107.42. DXY extends the upside for the second session in a row on Thursday, although another test of the 107.00 neighbourhood remains elusive for the time being. The continuation of the upside momentum could extend to the

AUD/NZD hourly chart bears are lurking near a 78.6% Fibonacci as a potential last defence. The price action will likely occur around critical Aussie data today.  Australian labour market data will be key today but the technicals for AUD/NZD are mixed heading into the data. From a daily perspective, there appears to be a bullish bias

Retail Sales in the US stayed unchanged on a monthly basis in July. US Dollar Index continues to push higher toward 107.00. Retail Sales in the US stayed virtually unchanged at $682.8 billion in July, the data published by the US Census Bureau showed on Wednesday. This reading followed June’s increase of 0.8% and came

GBP/USD Price Analysis: Pokes weekly resistance line around 1.2100 GBP/USD picks up bids to extend the previous day’s recovery to 1.2100 during Wednesday’s Asian session. In doing so, the Cable pair approaches a one-week-old resistance line while also portraying the third bounce off the 50% Fibonacci retracement level of July-August advances. Read More … GBP/USD

EUR/USD drops further and revisits the 1.0120 area. Extra losses should meet solid support around 1.0100. EUR/USD challenges the August lows in the vicinity of 1.0120 on turnaround Tuesday. While further correction appears likely in the short-term horizon, the lower end of the recent range in the 1.0100 zone should offer decent support prior to

US Dollar Index steadies around weekly top, prints three-day uptrend. Growth concerns, Fedspeak challenge market sentiment amid a sluggish session. Second-tier US data, risk catalysts to entertain traders ahead of Wednesday’s FOMC Minutes. US Dollar Index (DXY) rises for the third consecutive day while picking bids to 106.58 during Tuesday’s Asian session. In doing so,

Chinese economic slowdown exacerbates the case of slowing oil demand. Market players keep an eye on nuclear discussions between the US and Iran. WTI trades near the August low at $86.99 and with a firmly bearish technical stance. Crude oil prices are in free fall at the beginning of the week, with the barrel of

EUR/USD is finding buyers amid sluggish market conditions. Investors turn cautious amid US-Sino tensions, ahead of Fed minutes. The European energy crisis deepens as Germany’s Rhine river dry up. EUR/USD is trading better bid above 1.0250, as buyers seemingly find support from a dismal market mood and sluggish US Treasury yields. The US rates pause their

USD/CAD is set to finish the week with losses of 1.22%. The University of Michigan Consumer Sentiment for August surprises the upside and boosts the greenback. US Fed officials are still committed to tackle inflation and reiterated their job is not done. USD/CAD advances on Friday, erasing Thursday’s losses, after a positive US consumer sentiment

Based on a softer US inflation report, USD/JPY climbs during the week by 1.14%, after a volatile last three days. USD/JPY is neutral biased, but a doji emerging in the daily chart could pave the way for further upside. In the near term, the major is sideways, though oscillators point upwards, so it is slightly

Richmond Fed President Thomas Barkin said on Friday that there is more to come to get rates into the restrictive territory and noted that he would like to see PCE inflation running at target for some time, as reported by Reuters. Additional takeaways “Economy weathering rate hikes well.” “Economy is fundamentally sound.” “Inflation is being

CSSE stock tanked 10.4% in Friday’s premarket. Chicken Soup for the Soul reported a wide GAAP loss of $-1.39 in Q2. CSSE just concluded its acquisition of Redbox on Thursday. UPDATE: Chicken Soup for the Soul stock is down 12.4% to $12.42 in the first hour of Friday’s session. This is actually worse than the premarket where

Sterling is underperforming despite better-than-expected data and is currently trading near 1.2125. The GBP/USD pair could tumble to the 1.20 level, economists at BBH report. A recession is a foregone conclusion “A break below 1.2110 would set up a test of the August 5 low near 1.20.” “Q2 GDP came in at -0.1% QoQ vs.

EUR/GBP is sensing selling interest around 0.8470 despite the lower consensus for UK economic data. UK households are making higher payouts as subdued earnings are unable to offset soaring inflation. The second-tier Eurozone data is expected to display a vulnerable performance. The EUR/GBP pair is facing barricades around the immediate hurdle of 0.8465 continuously since

UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting comment on the publication of the Malaysian jobs report. Key Takeaways “Malaysia’s labour market continues its steady march towards full recovery with the number of employed persons and unemployment rate improving further. Total number of employed persons rose for the 11th month by 36.3k