FX

The 55-week moving average at 1833 has capped the gold price rally. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the yellow metal to suffer further slippage. See – Gold Price Forecast: XAU/USD to hit $1871 on erosion of August highs at $1834 – Credit Suisse The 55-week ma has provoked initial failure

EUR/USD fades corrective pullback after two-day fall, sellers attack intraday low of late. Cautious mood ahead of the ECB, covid woes keep bears hopeful. DXY ignores pullback of US Treasury yields from two-month top, stock futures stay mildly bid. Coronavirus updates, stimulus news and Fedspeak can entertain traders but all eyes on ECB’s tapering decision.

Silver struggled to capitalize on last week’s bullish breakout momentum through a trading range. The formation of an ascending trend channel supports prospects for additional near-term gains. The emergence of dip-buying adds credence to the positive outlook and favours bullish traders. Silver attracted some buying near the $24.20 resistance breakpoint and has now trimmed a

USD/CAD retreats to 1.2520 session low, as the US dollar index eases. Magnitude 6.5 earthquake hits Canada, no tsunami alert. Markets eye BoC Interest Rate Decision on Wednesday. USD/CAD is trading around the 1.2520 mark, as the US dollar index (DXY) drags lower toward 92.10 at the time of writing. The US benchmark index S&P

Irish deputy prime minister Leo Varadkar said on Monday that they are expecting the UK to announce an extension of the Northern Ireland import grace periods and the UK customs controls on EU imports, Reuters reported, citing Irish state broadcaster RTE. Varadkar further added that the European Commission is expected to note the decision and reiterated

Victoria’s daily coronavirus numbers arrived earlier which shows that the state has recorded 246 new, locally acquired cases of coronavirus and zero in hotel quarantine. ”That figure is up from yesterday’s 183 local cases and the highest number of daily cases in more than a year. The Department of Health says of today’s 246 cases,

GBP/USD prints fresh two-week highs above 1.3870 as the US dollar remains weak Pound prints fresh highs across the board during the American session. US dollar consolidates post NFP losses, even as US yields rise sharply. GBP/USD up for the third day in a row, gains a hundred pips from a week ago. The GBP/USD

The Korean won depreciated by 1.6% against the US dollar in August, making a cumulative 8% year-to-date depreciation. A positive is that the pace of vaccination has been accelerating lately, which is set to boost KRW in the medium-term, according to strategists at MUFG Bank. Progress in vaccination will boost KRW in medium-term “Progress in

Late Thursday, The Telegraph came out with the news suggesting that the UK PM is on the way to announce next week a tax hike to pay for an overhaul in social care. Johnson will reveal a rise in national insurance that will see around 25 million people pay extra tax, the report said. FX

Economist at UOB Group Lee Sue Ann comments on the latest GDP results in Australia. Key Takeaways “The Australia economy rose 0.7% q/q in the second quarter, higher than expectations for a 0.4% q/q reading, but a slower pace of growth than the previous quarter (when it rose a revised 1.9% q/q). From a year

NASDAQ:LCID  shed ground, but may soon come back. Lucid rival Tesla begins to look outside of the electric vehicle industry. A new EV maker backed by Amazon for its IPO at a staggering valuation. Update: Sept 1: NASDAQ:LCID shed 10.87% on Wednesday to finish the day at $17.79 per share. Wall Street was torn between softer-than-expected

USD/JPY is again approaching the 110.60/85 resistances. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, had been expecting a top here but now is considering a continuation pattern.  Watch out the 110.50/85 band “USD/JPY is again approaching the 110.60/85 resistances. We had been viewing this as a potential top, BUT it could be

USD/CAD remains on track to end the day unchanged. Canadian economy expanded by 0.7% in June as expected. US Dollar Index recovers its losses after dropping to two-week lows. The USD/CAD pair climbed to a daily high of 1.2654 during the American trading hours but failed to preserve its bullish momentum. As of writing, the

NZD/USD is holding steady above 0.70. Domestic sentiment looks like it is improving as Delta cases fall, but month-end balancing could see selling, economists at ANZ Bank appraise. End-of-month flows to rock the kiwi “NZD/USD may become pressured into month-end as fund managers rebalance away from USD (given the outperformance of major US equity indices).

USD/MXN drops for the second day in a row, approaches short-term support. Technical indicators favor the Mexican peso, but cross remains above key level. Market optimism continues to keep the upside limited in USD/MXN. The pair peaked at 20.45 two weeks ago and then it moved in a range between 20.17 and 20.42. On Monday

One-month risk reversal on Palladium (XPD/USD), a measure of the spread between call and put prices, not only reversed the previous week’s upside momentum but also dropped the most since the week ending on July 16, according to data source Reuters.  A call option gives the holder the right but not obligation to buy the underlying

Pinterest Inc.,PINS: Daily Chart, August 26 2021.We should be missing one last move down, so look closely the 23.6 and 38.2 fib level, and after that we can look for buys.  UiPath Inc.,PAHT: 4H Chart, August 26 2021After a confusing start which could be labelled as complex we may have completed a leading diagonal into wave {I}

Commenting on the US jobs scenario in an interview with CNBC late Friday, Federal Reserve Vice Chair Richard Clarida said, “We’ve made progress on the labor market.” Additional quotes “Expect further gains in the autumn.” “I don’t think it takes 800K gains in jobs but it will take robust gains.” “Inflation is very likely to be largely