FX

Next week, the Bank of Canada will have its monetary policy meeting. Market consensus is for an increase in the key rate to 3.25%. Analysts at TD Securities look for the BoC to deliver a 75 basis point hike, bringing rates into restrictive territory. They see little incentive for smaller hikes CPI running well above

NZD/USD struggles to extend corrective pullback from 1.5-month low, steadies of late. Recession woes, hawkish central bankers underpin bearish bias. Market’s consolidation amid a light calendar triggered the Kiwi pair’s corrective bounce. US CB Consumer Confidence for August, Fedspeak will be important for intraday directions. NZD/USD treads water around 0.6150, after bouncing off a 1.5-month

Is Saudi Aramco (TADAWUL: 2222) looking to diversify its income sources after soaring oil prices helped it deliver record-high earnings in the second quarter? Saudi Aramco saw its net income nearly double during the three-month period to 173.80 billion Saudi riyals ($46.28 billion) from 90.90 billion riyals. President and CEO Amin Nasser said increasing demand

EUR/USD is declining towards the magical figure of 1.0000 ahead of Jackson Hole Symposium. Fed Powell may sound hawkish as the road to price stability is far from over.   An expectation of a decline in the US Durable Goods Orders may restrict the DXY bulls. The EUR/USD pair has continued its two-day losing streak

“(We are) At low end globally of inflation level, tracking in the right direction,” said Reserve Bank of New Zealand Governor Adrian Orr to New Zealand (NZ) Parliament’s Finance and Expenditure Select Committee. Additional comments Labor constraint key reason to “consciously” slow demand to match supply capacity. There is and will be financial stress in

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

GBP/USD is expecting a downside below 1.2060 as the Fed will keep a hawkish stance intact. Pessimism in UK economic data has weakened the pound bulls. The UK Industrial Production is seldom expected to display an improvement. The GBP/USD pair has faced selling pressure around 1.2080 and is likely to display more losses on dropping below

Gold price extends its gains to three straight weeks, up 0.54%. Stellar US jobs data exerts further pressure on the Fed, as next week CPI is eyed. US-China tussles add further uncertainty to the global economic outlook. Gold price remained on the defensive late during the New York session after an early US employment report

What you need to take care of on  Tuesday, August 2: The greenback edged lower on Monday, although the slide pared mid-US session as Wall Street lost its earnings-inspired strength and lost some ground. Market participants remained focused on the risk of a global recession. At the beginning of the day, China published the official

What you need to take care of on  Friday, July 29: Thursday was another volatile day, with financial markets struggling for direction. The dollar remained under pressure during Asian trading hours, resurged during the European session and came again under pressure in the American afternoon. The greenback’s intraday advance could be attributed to renewed recession-related

EUR/USD recovers from below parity and eyes key events.  The Fed and German inflation data are important for the week ahead. EUR/USD bulls have moved in from below parity in a correction of three prior weeks of supply. The single currency ended down 0.13% on the final day of last week, falling from a high of

Italian Prime Minister Mario Draghi won a confidence motion in the upper house Senate on Wednesday, but three main coalition parties refused to take part in the vote, effectively dissolving his administration and he is said to announce his resignation in the chamber tomorrow. The motion asked the house to approve a speech made by Draghi

USD/JPY gained 1.80% in the week, extending its rally to the seventh consecutive week. USD/JPY Price Analysis: Divergence between price action and RSI spurred a pullback, though a daily close below 137.70 would tumble the USD/JPY towards 134.26. The USD/JPY retreats from YTD highs at around 139.38, towards the middle of the 138.00-139.00 range on

What you need to take care of on Wednesday, July 13: Risk aversion amid slowing economic growth and soaring inflation remained the main theme across financial markets. The American currency appreciated throughout the first half of the day, reaching fresh 20-year highs against the EUR, as the pair touched 0.9999. The greenback lost steam ahead

During the week, the Swiss franc is still under heavy pressure, losing more than 2%. Broad US dollar strength across the board underpins the USD/CHF. USD/CHF Price Analysis: The pave towards parity is clear, but 0.9800 and 0.9975 are still on the way for USD/CHF buyers; otherwise, a re-test of 0.9700 is on the cards.

USD/JPY bulls eye a move towards 136.20 and a touch higher even.  The price is making a double top on the daily chart and the bearish engulfing candle. The price is making a double top on the daily chart and the bearish engulfing candle followed by a subsequent drive into the demand structure could be

Gold bears are putting pressure on the bulls at a critical area on the daily chart. Gold prices are under pressure despite rising recession odds. At $1,806, the gold price is lower by some 0.66% after falling from a high of $ $1,825.21 to a session low of $1,802.77, breaking out of its consolidation range.

The NZD/USD erased early week losses and finished the week flat. On Friday, recession fears abated, but growing risks remain skewed to the downside. St. Louis Fed’s Bullard commented that the US economy is fine and that recession worries are exaggerated. The New Zealand dollar recorded solid gains vs. the greenback, snapping two days of