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

“One more good jobs report will be sufficient to be able to start tapering,” the US Federal Reserve (Fed) Governor Christopher Waller said in Yahoo Finance interview, adding that “we would like to start tapering early this fall.” Read: Federal Reserve Chair Powell: Make me a rate hawk, but not yet Further comments “We don’t look

GBP/USD climbs to one-week highs at 1.3780 as USD holds onto losses US dollar tumbles after Fed Chair Powell speech at Jackson Hole symposium. Cable soars on Friday, trims half of last week’s losses. The GBP/USD pair rose sharply on Friday and extended weekly gains. It is about to end the week hovering around 1.3765,

Previewing next week’s key macroeconomic data releases from the US, “payrolls probably slowed sharply after a 943k surge in July,” said TD Securities analysts. Key quotes “The pattern reflects less help from the seasonal adjustment process, particularly for the government sector, but underlying momentum appears to have faded as well. That is the signal from

EUR/GBP edges higher in the early European session on Friday. The Euro gains momentum on hawkish ECB, mixed data. The sterling remains on the backfoot amid concerns of economic slowdown due to Brexit induced supply-chain disruptions. EUR/GBP edges higher on the last trading day of the week in the early European trading hours. The pair

Dallas Fed President Robert Kaplan told CNBC on Thursday that it is still his view that at the September policy meeting, it would be time to announce a plan for tapering and start in October or shortly thereafter, as reported by Reuters. Additional takeaways “By and large, business contacts are weathering Delta at least as

The Bank of Korea (BOK), the South Korean central bank raised the base rate by 25 bps to 0.75%, marking it the first-rate hike since November 2018. The BOK became the first major Asian central bank to hike interest rates since the coronavirus pandemic began. The central bank embarked upon its tightening journey almost after

Wall Street’s main indexes opened near Tuesday’s closing levels.  Energy stocks underperform as oil loses bullish momentum. Technology shares edge higher after the opening bell. As signalled by the inactivity in futures trading, major equity indexes in the US opened near Tuesday’s closing levels on Wednesday. As of writing, the S&P 500 was flat at

Gold holds on above the psychological  $1800 level in the count down to Fed’s Powell on Friday.  The US dollar is consolidating ahead of the event, licking would at critical support in DXY near 92.80.  Update: Gold (XAU/USD) extend the previous day’s weakness to refresh intraday low around $1,795, down 0.45% on a day during

Gold gained some positive traction during the early North American session and climbed to near three-week tops, around the $1,809 area in the last hour, albeit lacked follow-through. Worries that the continuous surge in the Delta variant infections could threaten the global economic recovery. The concerns drove some flows towards traditional safe-haven assets, including gold.