FX

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

Gold prices were supported on a soft greenback and risk-on sentiment at the start of the week. Record low real rates are offering support to the precious metals in the immediate term. At the time of writing, just ahead of the closing bell on Wall Street, XAU/USD is trading at $1,816.00 and higher by 0.1% after travelling

AUD/USD off lows around 0.7350, but not out of the woods yet. Bears are testing the bullish commitments at critical daily support. Escalating covid concerns remain a drop, with all eyes on the RBA decision. AUD/USD has bounced back above 0.7350, tracking the rally in the S&P 500 futures amid a recovery in the risk appetite. Expectations

US Senate Majority Leader Chuck Schumer said on Sunday that a $1 trillion bipartisan infrastructure bill was being finalized “imminently” and that the legislative effort was firmly on track to be completed in a matter of days. “Despite some bumps in the road, always expected on two bills as large and comprehensive as these, we remain

Despite closing the week below the all-important 200-Daily Moving Average (DMA) at $1821, gold price recorded weekly gains, courtesy of the dovish Fed decision and escalating coronavirus concerns globally. The findings of the latest Reuters poll of 38 analysts also back the case for a modesty rally in gold price this year, with the precious

The purchasing managers’ index (PMI) for China’s manufacturing sector dropped to 50.4 in July from 50.9 in June, the latest data published by the National Bureau of Statistics (NBS) showed Saturday. The actual data missed the consensus estimate of 50.8.  Meanwhile, the Non-Manufacturing PMI eased slightly to 53.3 in July from 53.5 in June. A reading above

GBP/USD drops further to 1.3890, but secures weekly gains Dollar gains momentum late on Friday and trims weekly losses. Cable heads for biggest weekly gain since May. Next week’s key events: NFP and Bank of England meeting. The GBP/USD failed to hold to gains on Friday and tumbled to 1.3890, reaching the lowest levels since

Today, I am following up on the article I posted in May 2021, which was looking for Microstar to bottom imminently for the next leg higher.  You can view this article here The stock has bottomed as expected, and has started to rally and show signs that the next leg higher is underway.  Here’s the

USD/CHF pauses the previous two day’s decline on Friday. Bulls take support near the lower trend line of the descending channel. Momentum oscillator tilts in favor of the bearish momentum. USD/CHF edges higher on Friday in the European trading hour. The pair hovers in a very close trading range with positive bias. At the time

Market squaring net shorts in cable leading to prospects of higher highs to come.  The market focus will now be leaning towards next week’s BoE meeting.  At the time of writing, GBP/USD is leaning on support from the bullish 10 EMA and prior resistance structure near 1.3960. The price has rallied to 1.3981 on the