FX

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reported that the European Central Bank expects to hit its elusive 2 per cent inflation target by 2025, according to unpublished internal models that suggest it is on course to raise interest rates in just over two years. key notes Unpublished ECB inflation estimate raises the prospect of an earlier rate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

Accumulation is taking place in EUR/GBP below the bearish 50 EMA channel.  EUR/GBP bulls seeking a test of the M-formation’s neckline.  The following is an analysis of EUR/GBP that illustrates a bullish hypothetical scenario based on price behaviour, chart patterns and market structure.  EUR/GBP daily chart The M-formation is a bullish reversion chart pattern and

EUR/CHF has failed at the 200-day moving average (DMA) at 1.0898. Now, the pair is set to move downward as low as the 1.0629 November low, in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Negative below the 1.0941 2008-2021 downtrend “EUR/CHF last week failed at its 200-DMA at 1.0898.

US Stocks Technical Analysis Elliott Wave Forecast overview: Markets are very close to the top of Intermediate Wave (3) top caution is required over the week ahead. Elliott Wave Analysis Wave Count:Amazon AMZN  Elliott Wave v of (v).Alphabet GOOGL  Elliott Wave (v) of v) of 5 of (3).Apple AAPL  Elliott Wave v) of 5 of

GBP/USD Weekly Forecast: Range bound with an eye on the BOE Weak July GDP data restrains sterling and rate hike expectations. GBP/USD finishes the week on par and at the middle of three-month range. Sterling’s recovery on Thursday and Friday ended, temporarily, the threat of the GBP/USD breaking below 1.3765 support and entering the lowest

Gold breaks beneath $1,800, bears target $1,700. US 10-year Treasury yields rise, underpinning demand for the US dollar. Fed speakers in the week agree on prospects of bond tapering this year. Gold edges lower during the New York session, trading at $1,789.08 down 0.30% at the time of writing. Meanwhile, the US 10-year Treasury yields, which

Previewing next week’s key data releases from the US, TD Securities analysts said that food and energy prices probably rose fairly strongly again in August but added that the Core CPI likely rose at its slowest pace since February. Key quotes “Rents probably rose solidly again, but used vehicle prices, which have been surging, likely declined.

USD/CNH prints three-day downtrend, bears attack weekly bottom. Descending RSI line, not oversold, joins SMA breakdown to back the sellers. Convergence of six-week-old support line, 61.8% Fibonacci retracement becomes a tough nut to crack for bears. USD/CNH takes offers around 6.4400, down 0.17% intraday during the three-day fall ahead of Friday’s European session. In doing

As expected, the European Central Bank (ECB) kept its key interest rates unchanged and announced a slow down in the pandemic purchase program from the fourth quarter. According to analysts from Danske Bank, the current rise in inflation is still seen as largely temporary by the ECB. They largely share with the central bank the cautiously

Indonesia’s Retail Sales fell by 2.9% on the year in July vs. a 2.5% increase seen in June, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Thursday. The retail volume was reported when Indonesia was at peak of another coronavirus wave. more to come …