FX

Silver dives from $24,85 to $24.20 after Powell’s speech. Fed Powell confirms QE tapering and demand for metals plunge. XAG/USD remains bullish, with the $24,85 resistance area on focus. Silver futures have pulled back from levels right below two-month highs, at $24.87, retreating to the $24.20 area on the back of the US dollar’s bullish

Open interest in gold futures markets reversed two consecutive daily builds and increased by just 128 contracts on Thursday, considering preliminary readings from CME Group. Volume followed suit and shrank by around 42.5K contracts after two daily advances in a row. Gold now looks to $1,800 Gold prices approached the $1,790 mark on Thursday although

WTI falls almost $3 due to an optimistic weather announcement by the National Oceanic and Atmospheric Administration. Beijing’s signal to intervene in the coal market added further pressure on crude oil prices. Bank of America and Iraq oil minister, see crude oil topping at $100.00 by the first half of 2022. Western Texas Intermediate (WTI)

USD/TRY consolidates weekly losses near record top, sidelined of late. Fitch says Turkey’s ‘premature’ rate cut risks higher inflation. Turkish President Erdogan lauds global investor confidence in Turkey. CBRT is up for another rate cut, Turkish Consumer Confidence and US data important too. USD/TRY picks up bids around $9.2430, up 0.33% intraday ahead of Thursday’s

The dollar takes a breather after reaching fresh five-year highs at 114.70. A higher appetite for risk and a pause on US yield’s rally are weighing on the US dollar. USD/JPY remains positive and might reach 117.80/118.60 – SocGen. The US dollar has pulled pack after hitting fresh five-year highs at 114.70 pm Wednesday, to consolidate

EUR/USD remains on the front foot at three-week high. DXY drops for sixth day despite firmer US Treasury yields. EU CPI, Fed/ECB policymakers’ comments eyed for fresh impulse. EUR/USD stays firmer around 1.1650, up 0.11% intraday heading into Wednesday’s European session. The major currency pair jumped to the highest level since late September the previous

The dollar bounces up from multi-month lows at 1.2310. The pause on US bond yield’s rally has weighed on the greenback. USD/CAD might reach 1.22 by year-end – Scotiabank. The US dollar is trimming losses against its Canadian counterpart after having bottomed at 3, ½-month lows at 1.2310 earlier on Wednesday. The pair has returned to 1.2350,

Gold gained some positive traction on Tuesday and snapped two days of the losing streak. Retreating US bone yields undermined the USD and extended some support to the metal. Hawkish Fed/BoE might cap gains and warrants some caution for aggressive bullish traders. Update: Gold prices lock in some fresh gains above $1,770 amid a recent pullback

The euro remains capped below 1.1600, close to long-term lows at 1.1525. A sour market sentiment has weighed on the euro’s recovery attempt. EUR/USD seen extending decline to 1.1400 – Scotiabank. The common currency has attempted to pick up from the 1.1575 low hit earlier on Monday, before failing at 1.1610 and returning to levels below 1.1600.

New Zealand Prime Minister Jacinda Ardern announced on Monday, the lockdown in the country’s largest city of Auckland will be extended by two weeks. Earlier on, the local media reported that the government is considering tightening restrictions in Auckland again, on the lines of a ‘circuit breaker’ lockdown. This comes as the South Pacific Island

The Dow Jones Industrial, the S&P 500, and the Nasdaq Composite posted gains between 0.7% and 1.6% on Friday. US Retail Sales surprised to the upside, while the University of Michigan Consumer Sentiment Index fell. The USD/JPY reached five-year highs above 114.00. Bitcoin broke the $60,000 barrier, trades at All-Time-Highs. US equities finished on a

USD/JPY soars during the week, despite US dollar weakness across the board. Rising US T-bond yields underpins the USD/JPY pair. US Retail Sales upwardly surprised, rose by 0.7%, more than expectations. The USD/JPY extends its one-and-a-half month rally, advances 0.47% during the New York session, trading at 114.21 at the time of writing. As portrayed by

The euro extends decline below 0.8450 to explore YTD lows nearing 0.8400. Risk appetite and BoE tightening expectations are underpinning the pound’s rally. EUR/GBP: Below 0.8450 the pair could dive to 08281/39 – Credit Suisse. The euro has extended its decline against a firmer British pound on Friday, breaking below the 0.8450 level for the

NYSE:AMC extends advance on Thursday as Wall Street runs on earnings reports. #AMCSqueeze is trending again as the SEC investigates Citadel. A slew of new releases in theaters should keep AMC’s momentum going. Update October 15: NYSE:AMC extended its rebound from five-day lows of $36.12 into the second straight day on Thursday. AMC shares gained

AUD/USD breaks above 0.7400 for the first time in a month. Risk-on market sentiment turn investors towards riskier assets boosts the AUD. US Initial Jobless Claims dropped below the 300K mark. The Australian dollar climbs 0.58% is trading at 0.7423 during the New York session at the time of writing. The market sentiment is upbeat,

USD/TRY continues to march higher near 9.200, new records highs. Turkish President sacks three Central Bank’s policymakers in a sudden way. US Dollar Index holds near 94.00, licking post-CPI wounds. USD/TRY posts gains for the fifth straight session on Thursday. The cross-currency pair peaked at all times at 9.188 following the previous session’s upside momentum.

XAU/USD rallies above $1,780 on a higher than expected US CPI reading. Fed policymakers across the wires agreed to begin the bond taper by the FOMC November meeting. Silver rises in tandem with gold, almost 3% in the day. Gold (XAU/USD) surges during the New York session, trading at $1,793, up almost 1.86% at the

EUR/USD recovers initial losses on Wednesday in the Asian session. The US Dollar Index backtracks from yearly highs despite a rebound in US T-bond yields. Divergent monetary policy outlooks between the ECB and Fed weighs on the euro, US inflation eyed. The EUR/USD holds gains in the  Asian session on Wednesday. After testing the fresh