FX

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

AUD/USD has found an intermediate cushion around 0.7050, however, more downside is on cards. Investors have turned risk-averse ahead of the release of the interest rate policy by the Fed. A decline in monthly Australian Retail Sales might ease some troubles for the RBA. The AUD/USD pair has managed to gauge an intermediate cushion around

Reuters reported that British finance minister Jeremy Hunt said it will be necessary to maintain the disciplined approach of his November budget to help reduce inflation, Prime Minister Rishi Sunak’s office said following a Cabinet meeting on Thursday. The article states that Hunt announced a string of tax increases and tighter public spending in a

XAG/USD stays firm and climbs as the US Dollar remains offered across the board. Silver Price Analysis: Range-bound but could turn bullish above $24.50; otherwise, it could re-test the 50-DMA. Silver price extended its gains for the second consecutive day, cleared Thursday’s daily high of $23.93, and held its ground above the 20-day Exponential Moving Average

Reuters reports that Philadelphia Federal Reserve President Patrick Harker reiterated on Wednesday that he’s ready for the US central bank to move to a slower pace of interest rate rises amid some signs that hot inflation is cooling off. “High inflation is a scourge, leading to economic inefficiencies and hurting Americans of limited means disproportionately,” Harker said

USD/CAD finished Friday’s session with gains, though it faltered to clear 1.3400. USD/CAD Price Analysis: Exposed to selling pressure below 1.3400. The USD/CAD prolonged its weekly losses and tumbled for the fourth consecutive week, losing 0.36%, but on the day, the USD/CAD is up 0.22%. After the University of Michigan (UoM) Consumer Sentiment release showed

What you need to take care of on Wednesday, January 11: The FX board saw little action on Tuesday amid a scarce macroeconomic calendar and as investors await some central banks’ clarity. US Federal Reserve Chief Jerome Powell and his counterparts from Canada and Japan were on the wires, although as part of a symposium

Greenback drops sharply after NFP and ISM service sector. US yield falls to multi-day lows, commodities rebound. NZD/USD reverses from monthly lows, and trims weekly losses. The NZD/USD has risen a hundred pips from the daily low and it is trading at 0.6290, with a solid bullish tone supported by a broad-based USD decline. The greenback

What you need to take care of on Tuesday, January 3: The US Dollar started the year advancing against most of its major rivals but ended it unevenly across the FX board.  The EUR was the weakest, as EUR/USD retreated from the 1.0700 area towards the current 1.0650 price zone, while the AUD was the

What you need to take care of on Friday, December 30: The US Dollar fell on Thursday, with the decline exacerbated by thin market conditions. Sentiment led the way throughout the day, with Chinese headlines triggering different market reactions. On Wednesday, financial markets were on alert after Italy reported that roughly 50% of the passengers of two