FX

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

USD/JPY reached two-week tops around 114.00 retreating the upward move as the New York session began. The USD/JPY pair fell amid US dollar weakness across the board. Flat US bond yields undermined the US dollar prospects against the Japanese yen. The USD/JPY retreated from weekly tops around 114.00, fell 0.17%, trading at 113.88 as the

AUD/USD has reversed kneejerk losses in wake of US inflation data and is now in the green above 0.7380. US medium-term inflation expectations have shot higher, calling the Fed’s dovish stance into question. AUD/USD saw a kneejerk move lower in wake of the latest US Consumer Price Inflation (CPI) report, which showed price pressures were

GBP/JPY printed a daily low at 152.81, but late in the New York session bounced off, reclaiming 153.00. GBP/JPY: In the near term, the trend is tilted to the downside but found strong support around 153.00. The British pound recovered some ground on Friday, as the New York session finished, trading at 153.12, down 0.29%

DXY picks up bids to consolidate Monday’s losses, justifies bullish candlestick formation, MACD signals. 100-SMA adds to the downside filters before two-week-old horizontal support. Bulls eye October’s peak, monthly high can test short-term traders. US Dollar Index (DXY) takes the bids to refresh intraday high around 94.00, up 0.09% on a day during early Tuesday.

Silver fades bounce off one-week low, stays below 10-DMA. 21-DMA, 50-DMA confluence restricts short-term downside. Tops marked in September-October challenge bulls amid descending RSI/MACD line. Silver (XAG/USD) remains on the back foot around $23.80, down 0.30% intraday during Monday’s Asian session. The bright metal dropped to the lowest in one week, also slipped below 10-DMA,

AUD/USD fell on broad US dollar strength, as the greenback rose almost 1% in the US Dollar Index. European stock indices fell, while US equity indices rose, depicting a mixed-market sentiment, which benefited the US Dollar. US Core PCE rise overshadowed the Australian Retail Sales jump, weighed on the AUD/USD. The Australian dollar slid for

The pound finds buyers at 1.3665 after a 0.75% daily decline. The sterling suffers against a stronger USD. GBP/USD’s reaction to the BoE is unpredictable – MUFG. The British pound is attempting to find support at 1.3665 lows on Friday’s late US trading, after plummeting more than 0.7% on the day. End-of-month moves with November’s

AUD/NZD extends previous session’s declines on Friday. The cross-currency pair faces a resistance barrier near 1.0500. MACD holds above the midline with neutral stance AUD/NZD edges lower on the last trading day of the week in the Asian trading session. The cross-currency pair stayed in a narrow trade band  amid upbeat Australian Retail Sales data.

Christine Lagarde, President of the Europen Central Bank (ECB), added to her earlier comments on the monetary policy outlook at the post-meeting press conference: Key quotes: The phase of rising inflation will last longer than originally expected. This reflects energy, recovery demand outpacing supply. Medium-term inflation is still seen below the 2% target. [embedded content]