FX

The risk-on market sentiment struck government bond yields and the US dollar. UK’s IHS Markit Manufacturing PMI came at 57.1, better than expected. US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The GBP/USD is staging a recovery, trading at 1.3547, up more than a half percent during the day

The market sentiment is upbeat weighs on US T-bond yields and the greenback. Eurozone inflation rose by 3.4%, above the ECB’s target,  US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The EUR/USD is trimming losses, trading at 1.1596, barely up 0.13% during the day at the time of writing.

Here is what you need to know on Friday, October 1: Equity markets remain cautious despite another slew of losses for the main indices on Thursday to close out September and the quarter. Normally a dead cat bounce would be in evidence at this stage, but even that seems a tough act now as European

WTI is heading towards the weekly gains with monthly 9% gains in September. Bulls face resistance near the daily swing area $76.50 and $76.80. Momentum oscillator holds onto overbought zone  with underlying bullish sentiment. WTI prices are in no mood to slow down its previous momentum on the last trading day of the week in the

DXY clinched new 2021 highs around 94.50 on Thursday. Further north comes the 94.74 level (September 2020 high). The rally in DXY stays everything but abated and now extends gains to 94.50, the highest level since September 2020. If the buying impulse maintains the pace, then the next target of note is seen emerging at

AUD/USD bears are waiting in the flanks to pounce on poor Chinese data.  AUD/USD needs a lifeline, bulls look to 38.2% Fibo.  AUD/USD has been strongly offered overnight on a number of bearish fundamentals playing out and today sees key Chinese data in the next hour. The following illustrates the potential outcomes in price action

Silver witnessed fresh selling on Wednesday and drifted back closer to YTD lows. The set-up favours bearish traders and supports prospects for additional losses. Bears might wait for a break below the $22.00 mark before placing fresh bets. Silver struggled to capitalize on the overnight bounce from the vicinity of YTD lows, instead met with

US 10-year Treasury yields print five-day uptrend, sidelined of late. Fed’s Bulls reiterate support for tapering, Fed Chair Powell backed the move yesterday. US policymakers jostle to avoid debt ceiling expiry, President Biden cancels Chicago visit. US diplomatically reaches China to cut imports from Iran, Evergrande approaches coupon payment date. US 10-year Treasury yields remain

GBP/USD came under intense selling pressure on Tuesday amid a broad-based USD strength. Surging US bond yields, the risk-off impulse in the markets lifted the safe-haven greenback. Oversold RSI on the 1-hour chart warrants some caution for bearish traders ahead of Powell. The GBP/USD pair added to its heavy intraday losses and dived to sub-1.3600s,

USD/JPY edges higher on Tuesday following the previous day’s gains. Higher US Treasury yields underpin the demand for the US dollar. Hawkish Fed members, reduced contagion Evergrande risk and general risk-on mood aids USD. USD/JPY refreshes daily highs above 111.00 on Tuesday extending the overnight gains. The pair composed of nearly 40-pips movement in the

We continue to view this inflation upswing as largely temporary, said the ECB President Christine Lagarde at the Hearing of the Committee on Economic and Monetary Affairs of the European Parliament. Additional quotes: Inflation could prove weaker than foreseen if economic activity were to be affected by a renewed tightening of restrictions. Seeing limited signs

GBP/USD Price Analysis: Bears brace for 1.3600 GBP/USD stays pressured around 1.3670 during the early Asian session on Monday. The cable pair kept Thursday’s pullback from 50-SMA to contribute towards a three-week downtrend by the end of Friday. In addition to the failures to cross a short-term moving average, the signal line of the MACD

Heading into a German Federal election on Sunday, the latest polls suggest that the race to the country’s leadership tightens, as the key candidates hold their final rallies. Sunday’s vote will mark the end of Chancellor Angela Merkel’s 16 years in office. Exit polls will be released when voting ends at 1600GMT on Sunday and

GBP/USD Weekly Forecast: Rate laurels go the the US Federal Reserve BOE leaves rates, asset purchases unchanged, warns on inflation. Federal Reserve and Chair Powell set the stage for bond taper. US Treasury rates move sharply higher after FOMC meeting. GBP/USD drops below 1.3700 in Friday trading. FXStreet Forecast Poll predicts stronger sterling. The Bank

The Dow Jones and the S&P 500 finished the day with gains of 0.1% each, while the Nasdaq was unchanged. Evergrande’s uncertainty will carry on throughout the weekend. Stocks rose, despite the new Federal Reserve hawkishness. Nike fell 6.5%, claiming supply chains crunch and high freight shipping prices. Two of the three major US stock

AUD/USD struggles at 0.7300 as the market mood is risk-averse. Evergrande’s failure to pay its bond interest weighs in the AUD. Australian Retail Sales and Building Permits for August could provide fresh impetus to AUD/USD. Earlier in the Asian session, the aussie was trading at daily highs around 0.7310’s, on the back of the positive

Palantir puts in a big daily surge to close up nearly 5%. PLTR stock just fails to break last week’s high. Stock is likely to fall back now on that failure. Palantir put in a big move on Thursday surprising many with just how far it managed to extend those gains. Some bounce and rally were expected

USD/CHF trades modestly higher on Friday in the early Asian trading hours.  US Dollar Index trades below one-month highs near 93.00. Risk-on sentiment, the divergence of SNB from its peers weighs on the Swiss franc. The USD/CHF pair prints minute gains on the last trading day of the week. The pair remained unfazed by the Fed’s