FX

EUR/USD extends daily rebound into the American session. US Dollar Index edges lower ahead of consumer confidence data. Falling US Treasury bond yields seem to be weighing on USD. After spending the first half of the day fluctuating in a narrow band below 1.1750, the EUR/USD pair gained traction in the early American session and

Silver edges lower around multi-day low despite defending $23.00 threshold of late. Failures to rebound past previous support line, MACD conditions favor sellers. Bulls need to cross 200-SMA to regain control. Silver (XAG/USD) remains mildly bid around $23.20, up 0.10% on a day, amid Friday’s Asian session. The bright metal bounced off $23.00 the previous

Palantir (PLTR) has just released Q2 earnings on Thursday ahead of the market opening. The number for Earnings Per Share (EPS) was $0.04 just ahead of the estimate for $0.03. Revenue came in at $376 million also ahead of estimates at $353 million. Palantir also increased its guidance for Q3 revenue to $385 million which

USD/JPY pauses the gain after testing monthly highs near 110.80. US Dollar Index skids below 93.00 upon disappointing CPI data. The yen gains on its safe-haven appeal despite the concerns of the Delta variant. After testing the recent highs on Wednesday, USD/JPY retreats in the Asian session on Thursday.  A pullback correction in the US

US CPI Overview Wednesday’s US economic docket highlights the release of the critical US consumer inflation figures for July, scheduled later during the early North American session at 12:30 GMT. The headline CPI is expected to decelerate to 0.5% during the reported month from the 0.9% increase recorded in June. The yearly rate is also

USD/JPY continues to ride higher the fifth straight day on Wednesday. US Dollar Index remains in demand above 93.00 on Fed’s official’s hawkish comments, US infrastructure bill. The yen losses attractiveness as a record case of delta variant reported in Japan. USD/JPY extends gains in the initial Asian trading session on Wednesday. The strong buying

GBP/USD staged a modest bounce from two-week lows, though lacked any follow-through. Descending triangle support break and the formation of double-top favours bearish traders. Sustained weakness below the 1.3835 support area will reaffirm the near-term negative bias. The GBP/USD pair found some support near the 38.2% Fibonacci level of the 1.4249-1.3572 downfall and staged a

Gold is consolidating the huge increase in ATR since the NFP.  The Fed is expected to move more hawkish and the US dollar takes control.  At the time of writing, XAU/USD is trading around the $1,730 level in the consolidation of the opening drop this week to a low of $1,677.68 from $1,764.67.  A stronger

Tesla stock drops just over 2% on Friday to close below $700. TSLA still holding short-term bullish momentum. Electric vehicle sector leader still looks bullish but $697 needs to hold. Tesla has a rough day on Friday, putting a few doubts into the minds of bulls who felt they had done the hard work in pushing

NZD/USD continues with the previous week’s selling pressure on Monday. US Dollar Index remains steady near 93.0 on stronger NFP report. Upbeat Chinese Trade data and interest rate hike expectations keep New Zealand’s dollar grounded. NZD/USD extends the previous session’s downside momentum in the Asian session on the first day of the fresh trading week.   

GBP/USD drops to one-week lows under 1.3875 amid a rally of USD US dollar extends gains during the American session as US yields soar. Cable fails to hold to weekly gains, drops below 1.3900. The GBP/USD extended the decline to 1.3860, the lowest level in a week, on the back of a stronger US dollar

Silver attracted some buying near the $25.00 mark, though struggled to register any strong recovery. The set-up remains tilted in favour of bearish traders and supports prospects for additional losses. A sustained move beyond the overnight swing highs is needed to negate the near-term negative bias. Silver found some support near the 61.8% Fibonacci level

GBP/USD bulls seeking a test of the daily highs but awaits NFP. Bears will be keen on a deeper correction on a positive NFP print.  Following the Bank of England event earlier today, GBP/USD has held onto a modest gain. Cable rose as high as $1.3949 after the BoE decision but was unable to break the resistance

AUD/USD breaks lower amid a mixed market mood. US-China talks and Australian covid woes weigh on the spot. A broadly subdued US dollar limits the downside in the aussie. AUD/USD is on a steady recovery, as it regains the 0.7400 level, helped by a modest pullback in the US dollar across the board. Markets have turned

USD/JPY bulls are back in play as the US dollar breaks critical 92.20 resistance, DXY.  110.00 is eyed as a target for the bulls on a break of daily resistance. The following is a top-down analysis of  USD/JPY that arrives at a bullish bias into the 110 area so long as the greenback continues to

USD/CHF’s price profile is now under all key moving averages. Benjamin Wong, Strategist at DBS Bank, signals a bearish USD skew and, therefore, expects the pair to break below the 0.8984 mark.   USD bears are returning “Momentum is starting to pick up for USD/CHF to re-engage to the downside, which aligns to recent demand for

EUR/USD offers both a bullish and bearish prospect from a daily perspective. Bears will take into account possibilities of a deeper correction in DXY above 92.20.  EUR/USD has something for everyone. At first glance, the pair looks to be setting up for a daily bullish continuation. However, the elephant in the room is the bearish daily

EUR/USD has been hovering below 1.19 as investors are concerned about growth prospects. In the view of economists at HSBC, the contrast in Federal Reserve (FEd) and European Central Bank (ECB) policy narratives could be enough for EUR/USD to challenge the 2021 year-to-date low. Balance of risks is still primed for EUR weakness “We look