FX

Share: Gold price extends early week rebound, grinds higher of late. United States inflation, Federal Reserve Minutes weigh on US Treasury bond yields, USD and inspire XAU/USD buyers. Markets are in consolidation mode and hence Gold price pullback can’t be ruled out. More clues of US inflation, risk catalysts eyed for clear directions Gold price

Share: EUR/USD hovers around 1.0900 after hitting a low of 1.0876. US Nonfarm Payrolls rose below forecast but cemented the case for a 25 bps Fed rate hike. ECB’s Knot: Further rate hikes need, and no rate cuts in 2023. The EUR/USD falls during the North American session and retraces towards the 1.0900 figure after

Share: Gold price is comfortably shifted above 2,020.00 amid rising bets for a steady Fed monetary policy. A slowdown in the hiring process by US firms has scaled expectations of an unchanged Fed policy towards north. Gold price is marching towards the horizontal resistance plotted from 08 March 2022 high at $2,070.54. Gold price (XAU/USD)

Share: USD/CHF drops as US core PCE rose by 4.6% YoY, below the previous month. The University of Michigan’s Consumer Sentiment was below expected. USD/CHF Price Analysis: Presses toward 0.9100, but sellers struggle to break that support below. USD/CHF falls to a new weekly low below 0.9126, sponsored by economic data from the United States

Share: EUR/USD picks up bids to extend week-start rebound amid downbeat US Dollar, firmer sentiment. Receding fears of banking fallouts allow markets to take a breather from the previous risk aversion. Upbeat German data, hawkish ECB talks add strength to the Euro pair. ECB President Lagarde’s speech, US CB Consumer Confidence eyed for fresh impulse.

Share: EUR/GBP has gauged an intermediate cushion around 0.8810 as BoE claims rapid inflation softening ahead. The BoE announced a 25 bps rate hike and pushed rates to 4.25% despite fears of banking turmoil. ECB Knot is in favor of further rate hikes in May as inflation is showing no signs of abating. The EUR/GBP

Share: AUD/USD cheers risk-on mood, cautiously optimistic comments from RBA’s Kent. RBA’s Kent conveys soundness of Aussie banks, defends rate hike moves. Hopes that UBS buyout of Credit Suisse could tame bond market rout favor the sentiment. RBA Meeting Minutes, preliminary PMIs for March and FOMC Meeting are the week’s key events to watch for

Share: The Bank of England was holding emergency talks with international counterparts last night amid rising concerns as the crisis deepens in Swiss bank Credit Suisse Group AG, the Telegraph reported on Wednesday per Reuters. Key quotes Bank of England officials were in talks with counterparts, as they all raced to assess the potential impact

Share: USD/CHF extended its drop past the 20/50-day EMAs after facing resistance at the 200-day EMA. USD/CHF Price Forecast: Shifted bearish, though needs to crack 0.9130s to test YTD lows. USD/CHF falls below the confluence of the 20 and 50-day Exponential Moving Averages (EMAs), extending its daily losses to more than 1% Friday. A mixed

Share: GBP/USD has taken a sigh of relief after a nosedive move near 1.1825, more downside looks inevitable. Fed Powell’s extremely hawkish remarks on interest rate guidance have spooked market sentiment. A breakdown of crucial support after a Double Top formation has confirmed a bearish reversal. The GBP/USD pair has turned sideways around 1.1825 in

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: The AUD/JPY trades sideways, within a busy area surrounded by all the daily Moving Averages. AUD/JPY Price Analysis: Range-bound within the 91.57-89 area. The AUD/JPY fluctuates as the Asian session begins, registering minuscule gains of 0.07%, exchanging hands at around 91.73. A risk-on impulse bolstered the Australian Dollar(AUD), while the Bank of Japan’s (BoJ)

Share: USD/CHF is looking for recovery after a pullback move amid the risk-off impulse. S&P500 futures have ignored the risk-aversion theme amid the upbeat US economic outlook. Geopolitical tensions between the US and China have improved the US Dollar appeal. The USD/CHF pair has corrected marginally to near 0.9330 after printing a fresh six-week high

Share: EUR/USD bears move in and force a failed breakout scenario for the open.  Meanwhile, a bearish correction could be on the cards for this week’s initial balance. EUR/USD ended Friday near 1.0700 and in a resistance zone after breaking up through the prior week’s lows, pulling in breakout traders through 1.0680 and trendline resistance the

Share: GBP/USD consolidates the biggest daily loss in a fortnight around weekly low. Ascending trend lines from January and last November precede 200-DMA to challenge bears. U-turn from 50-DMA, bearish MACD signals favor sellers. GBP/USD stays defensive around 1.2030, bouncing off the weekly low, as it licks the previous day’s wounds during early Thursday. In

Share: AUD/USD finished the week above 0.6900, up 0.04%. Consumer Sentiment in the United States improved while inflation expectations rose. AUD/USD traders are eyeing RBA’s Governor speech alongside the Aussie employment situation. Next week’s US inflation and retail sales would dictate the faith of the US Dollar. The Australian Dollar (AUD) is set to finish

Share: “China has declined a US request for a phone call between U.S. Defense Secretary Lloyd Austin and Chinese Defense Minister Wei Fenghe,” a Pentagon spokesman said on Tuesday reported Reuters. Brigadier General Patrick Ryder also stated, per Reuters, “The Pentagon submitted the request for a secure call on Saturday, immediately after shooting down a

The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the breadth of services expansion has still slowed. Key quotes: “The slowdown in