FX

GBP/JPY dipped back from earlier highs near 155.00 to the low 154.00s but remains within recent ranges. The pair is still trading in the green after nursing a recovery from an earlier weekly dip. There is notable resistance in the 153.00 area and resistance in the 155.50 area. GBP/JPY held within a 154.00-155.00ish range on

The greenback slides against the Japanese yen, despite a mixed market mood. Some 8,500 American troops were put under high alert, attributed to the escalation of the Russia – Ukraine conflict. USD/JPY is upward biased despite breaking under the 50-DMA, though the longer time-frame ones remain under the spot price. In the North American session,

Data released on Friday showed an increase in November retail sales in Canada of 0.7%, below the 1.2% of market consensus. Analysts at CIBC, point out the advance was modest in November, and warn that all of that ground and more appears to have been given back in December. Key Quotes:  “Canadian retail sales posted

The Bank of Canada’s (BoC) Business Outlook Survey (BoS) for the fourth quarter revealed on Monday that the business sentiment in Canada improved again, with the BoS indicator coming in at a new record high of 5.99, up from 4.73 in the third quarter. Note that the data for the latest survey was collected prior to the rapid spread

Analysts at Wells Fargo maintain their view for a broadly stronger US dollar over the course of 2022 and into 2023. They consider a more hawkish Federal Reserve should result in capital flows toward the greenback, pushing it to the upside against most G10 and emerging market currencies. Key Quotes:  “We expect the greenback to

The New Zealand dollar advances some 0.46% as the North American session ends. A risk-off market mood was no excuse for the NZD to gain vs. the USD. NZD/USD Technical Outlook: Downward biased as long as it remains below 0.6859. On Friday, the New Zealand dollar trimmed some of its Thursday’s losses despite a risk-off

USD/TRY adds to Tuesday’s gains well above 13.00. The lira loses further ground after a positive start of the year. Focus remains on the next CBRT event later in the month. The Turkish lira accelerates losses and pushes USD/TRY to new 2-day highs in the 13.60 region midweek. USD/TRY stronger after Turkey’s CPI USD/TRY posts

The USD/JPY edges higher in the year’s last trading day, up some 0.03%. A risk-off market mood put capped the downtrend of the USD/JPY. USD/JPY Price Forecast: The upward bias to continue, a break above 115.20 would open the door for a test of the YTD high at 115.52.  As of year-end looms, the USD/JPY

The greenback gains some ground against the aussie, amid closed US equity and money markets. Covid-19 positive news improved investors’ mood as the year-end looms. AUD/USD Price Forecast: Bulls prepare for a challenge of crucial resistance around 0.7280-0.7300. The AUD/USD slides during the late European trading session, down some 0.33% trading at 0.7224 at the

Spot gold is struggling to make use of risk-averse market conditions on Monday and remains subdued under $1800. An on-the-day rise in real yields is the main reason why gold is struggling. Despite a broadly risk-off market tone and an underperforming US dollar, spot gold (XAU/USD) prices are struggling to make headway on Monday. Prices

Euro’s  momentum fades after ECB spike. Yen soars across the board amid a retreat in US yields. The EUR/JPY peaked during the American session at 129.63, the highest level since November 19, following the European Central Bank meeting. During the last hour, it reversed sharply and dropped to 128.60, turning negative for the day amid

The US Dollar Index ended the week above the 96.00 threshold. The US 10-year Treasury yield finished flat, at 1.482%. DXY Technical outlook: An upside break above an ascending triangle target 98.00. The US Dollar Index, also known as DXY, which measures the greenback’s performance against a basket of six rivals, slides 0.19%, sitting at

Oil prices are choppy on Wednesday amid conflicting headlines on vaccine efficacy and worries about tighter Covid-19 curbs. But oil prices remain significantly higher on the week amid optimism that Omicron will be mild. Oil prices have been choppier on Wednesday than the previous two days. Front-month WTI futures have undulated within a $71.00-$72.70ish range

Managing Director (MD) of the IMF Kristalina Georgieva said on Friday that she had already been concerned that the global economic recovery had been losing steam before the emergence of the Omicron variant. There would now likely be some downgrade to global growth forecasts as a result, she added, saying that the rapid spread of

According to the latest Consumer Confidence survey conducted by the US Conference Board, US Consumer Confidence fell to 109.5 in November from 113.8 in October. That was a larger drop than the expected decline to 111.0. The Present Situation index fell to 142.5 in November from October’s downwardly revised reading of 145.5 from 147.4. Meanwhile,

EUR/USD gains on short-covering and approaches 1.1300. As economists at Scotiabank note, December seasonal trends are bullish. Subsequently, the pair could race higher to the upper 1.13s/low 1.14s in the next few weeks. EUR/USD is poised to close out the week on a bullish note “The EUR is one of the better performers on the

EUR/USD printed fresh YTD lows on Monday in the 1.1230s after Powell’s renomination as Fed chair. Markets reacted hawkishly as dovish Brainard bets were priced out and participants bet on a hawkish Fed shift. The pair has since recovered back above the 1.1250 mark. EUR/USD has seen choppiness in recent trade, dropping from around 1.1280

The Chinese yuan has continued to strengthen throughout the year and is now up 10% from the bottom last year. Economists at Danske Bank highlight four reasons for the strength of the CNY. They look for continued CNY strength near-term as the four forces will probably continue to dominate. However, during 2022 they expect CNY