FX

SPY boosted by friendly Fed as taper talk thankfully limited. Fed is to start tapering but no timeline set. SPY reacts positively to potentially bad news, is that a positive? We have a potential tongue twister from our last bullet point above. The SPY reacted positively to potentially negative news, so is that really a

GBP/USD remains on the back foot around monthly low. Downside break of two-month-old support, bearish MACD favor sellers. 200-day EMA adds to the upside filters, 61.8% Fibonacci retracement offers extra support. GBP/USD bears keep controls around 1.3620 amid the initial Asian session on the Super Thursday, after refreshing the monthly low with 1.3609 due to

Tesla stock outperforms on Tuesday as stocks recover. The bounce is small though as Fed news awaited. Tesla is stuck in neutral ground. Tesla recovered some ground yesterday after equity markets took a tough beating on Monday. While broader markets struggled to bounce, Tesla stock did at least gain over 1% in a steady session.

“China has tools and policy space to prevent the Evergrande situation from turning into a systemic crisis,” said the International Monetary Fund’s (IMF) Chief Economist Gita Gopinath during an interview, per Reuters. “Real estate sector was a big part of China’s economy, and China Evergrande’s potential default could have implications for China’s economic activity and

SPY falls sharply on Monday as Evergrande concerns expand in Asia. Stocks slide also as Fed may talk the taper this week. SPY was due for a pullback, but is this a dip to buy? Well, everyone has been talking about the dip for some time, and the market finally delivered on Monday. A pretty

Unofficially, the Dow Jones Industrial Average lost620.22 points, or 1.79%, to 33,964.66. The S&P 500 dropped 75.28 points, or 1.70%, to 4,357.71. Nasdaq Composite dropped 325.95 points, or 2.17%, to 14,718.02. US stocks were already downbeat last week with renewed risk-off tone gripped the market following China’s disappointing Retail Sales and weaker Industrial Production that raised concerns

EUR/USD has extended its decline as the crisis around China’s Evergrande deepens. As FXStreet’s Analyst Yohay Elam notes, critical support at 1.1705 is eyed. See: EUR/USD set to challenge the 1.1665 August low – SocGen Fear has taken over markets and it is weighing on EUR/USD “Evergrande owes some $300 billion to lenders. Authorities have been

AUD/USD prints a fresh three-week low at 0.7262. Downbeat market sentiment boosts the demand for US dollars. AUD/USD awaits the FOMC meeting to resume its direction. During the European session, the AUD/USD reached a peak of 0.7321. However, as market sentiment deteriorated and American traders got to their desks, the AUD/USD dipped below 0.7300, pushing the

GBP/USD Weekly Forecast: Breaking out of range? Duo of central bank decisions to trigger action Do current inflation trends warrant tightening policy anytime soon? The past week’s latest figures have caused jitters, leaving investors confused. Central banks take the stage in the upcoming week, with the Fed’s taper timing and the BOE’s rate hike prospects

USD/CAD prints a new weekly high at 1.2763. The market sentiment remains downbeat, with the S&P 500 trading below the 50-DMA. WTI is falling in the session by 1.27%, dragging the loonie with it. Federal Election in Canada to take place on September 20. USD/CAD is gaining ground in the session, up 0.45%, trading at

EUR/USD reaches a three-week low at 1.2724. Market sentiment weighs on the EUR/USD as flows flew to the safe-haven USD. The US Dollar Index rises above 93.00 despite weak US consumer sentiment data. EUR/USD keeps sliding for the second day in a row, exchanging hands at 1.1728 down 0.30% on the day at the time of writing. After

Central bank in Poland will, in the view of economists at TD Securities, remain dovish, with not even a single hike likely this year. Therefore, the zloty is likely to remain under pressure. NBP thinks that it would be too risky to raise rates at this point “We do not expect any rate hikes this

The Financial Times recently reported that the European Central Bank expects to hit its elusive 2 per cent inflation target by 2025, according to unpublished internal models that suggest it is on course to raise interest rates in just over two years. key notes Unpublished ECB inflation estimate raises the prospect of an earlier rate

China’s Commerce Ministry was out with some comments in the last hour, saying that trade and economic teams from both China and the US sides have maintained communications. Will follow through on the consensus reached by the US and Chinese leaders during a phone call, the ministry added further. Market reaction The remarks did little

GBP on the up as UK data impresses traders. The next data in line will be Retail Sales as traders look to the BoE’s net move. EUR/GBP is trading at 0.8537 at the time of writing, down 0.14% on the day and between a low of 0.8528 and a high of 0.8562. The price is

With the Christmas season approaching, September is usually the time Apple sets out its stall for what tends to be its most lucrative quarter. There was plenty of speculation leading up to last night’s event that the company would launch a new iPhone 13, with a few minor upgrades to the new 5G iPhone 12

USD/JPY slides below 110 on the back of dollar weakness. Market sentiment is downbeat, benefiting the safe-haven status of the Japanese yen vs the greenback. On Thursday, the US Jobless Claims and the Retail Sales will be released. After posting a three-day high during the Asian session, the USD/JPY turned around and is trading around

GBP/JPY remains in good stead despite pulling lower from a recent 16-month high posted at 156.07. A break over 153.43 is something to look out for, according to Benjamin Wong, Strategist at DBS Bank.  The technical indicators remain constructive “The technical indicators remain supportive, pulling the cross from a higher low of 149.19 (vs 148.47)