FX

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

DXY is being sold off on the shorter-term time frames, 103.13-eyed near-term, 102.39 thereafter.  The bias remains bullish on the daily chart until a break of downside structure, or 101.297. Despite the persistent message from Fed members that there is a ”need to raise interest rates ‘a good deal more’ over the coming months,” the US dollar has

US stocks recovered some ground after a bumpy trading week. The Nasdaq Composite rose and led the pack, followed by the S&P 500, while the Dow Jones fell. The US Dollar Index rose, contrarily to US Treasury yields dropping US equities recovered some ground after a rough trading week and recorded gains between 0.13% and

The NZD is nosediving during the week, almost 2.30%. The market sentiment dampened on expectations that the Fed may hike 0.75% in June, increasing investors’ appetite for safe-haven assets, thus boosting the greenback. US Wednesday calendar will be busy reporting Retail Sales and the FOMC’s monetary policy decision. Dismal market mood spurred by fears that the

Next week, the Bank of England will have its monetary policy meeting. Analysts at MUFG Bank consider it poses some upside risk for the pound but they warn any rally should be short-lived in light of the still unfavourable UK cyclical backdrop.  Key Quotes: “The GBP has been consolidating at weaker levels after correcting lower

Gold begins the week with losses of close to 0.50%. US Treasury yields and an upbeat sentiment weigh on the yellow metal. Gold Price Forecast (XAU/USD): Neutral biased, though a daily close below the 200-DMA might open the door for additional losses. Gold spot (XAU/USD) is tumbling, weighed by rising US Treasury yields and an

What you need to take care of on Friday, June 3: The greenback changed course on Thursday and gave up all of its Wednesday gains and more. Easing government bond yields and tepid US employment-related figures put pressure on the American currency, later weighed by the positive tone of Wall Street. Concerns related to economic

The shared currency is about to finish the week with 1.66%. US Core PCE rose by 4.9% YoY, lower than March’s 5.1% reading; will the Fed diminish the speed of rate hikes? EUR/USD Price Forecast: Its long-term bias remains bearish, but a rally towards 1.0800 in the near term is on the cards. The EUR/USD

The USD/CAD retreats from weekly highs, extending its losses in the week to 0.18%. Fed minutes confirmed that the June and July meetings would witness a 50 bps rate hike, each. USD/CAD Price Forecast: In the short term is downward biased, and a break below 1.2713 would send the pair towards 1.2630. The USD/CAD pares

GBP/USD Weekly Forecast: Will the recovery sustain above 21 DMA? Bulls were finally rescued, as GBP/USD stalled its four-week downtrend and rebounded firmly from two-year lows of 1.2155 reached a week ago. A temporary bottom seemed in place, with the 400+ pips recovery, as the US dollar embarked on an overdue correction. The currency pair