FX

European Central Bank (ECB) policymaker Mario Centeno said on Tuesday that there is a risk of losing credibility if the ECB’s new guidance does not show more leeway on inflation, as reported by Reuters. Key takeaways “ECB must be patient with inflation deviations that it has not tolerated in the past.” “There is no inflation overshooting

EUR/GBP bears take a breather around three-week-old support line. Bearish MACD, short-term falling trend line resistance test corrective pullback. June’s low lures sellers, bulls remain divided before refreshing monthly top. EUR/GBP consolidates recent losses around 0.8545, up 0.05% intraday, amid early Tuesday. The cross-currency pair dropped to an ascending support line from June 23 the

In a Twitter thread on Monday, “low inflation has become entrenched over the past few years and our revamped strategy says that we will not allow this to happen in the future,” European Central Bank (ECB) Governing Council member Peter Kazimir said. “The policy objective is clear and simple. This clarity will strengthen our toolbox

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) reference rate at 6.4785 vs the estimated 6.4739 and the previous 6.4755. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly

Commenting on the inflation outlook, the European Central Bank (ECB) executive board member Isabel Schnabel said Saturday that she is very confident that Eurozone will not experience ‘excessively high inflation.” Key quotes “Our medium-term inflation projection is subdued: only 1.4% in 2023. Though that is surrounded by uncertainty, I am sure that we will not experience excessively

Gold price books third straight weekly gain, 200-DMA remains in sight. Daily closing above 21-DMA reignites bullish interest, as RSI recovers to 50.00. Gold Price Weekly Forecast: XAU/USD bulls bet on Golden Cross pattern, uptrend support, lower yields. Thursday’s Doji candlestick doesn’t seem to have discouraged the bulls, as gold price staged an impressive bounce

GBP/USD outlook: Bulls regain traction but more evidence needed to signal reversal Cable regained traction on Friday after negative tone prevailed during this week, with three-day drop ending with a hammer candle that generated initial bullish signal. Fresh advance nearly fully reversed losses of this week but needs lift above pivotal barriers at 1.3887/97 (falling

EUR/USD adds to the recovery well above the 1.18 mark. Next target comes in at the Fibo level at 1.1887. EUR/USD manages to extend the rebound from recent lows in the 1.1780 zone. This area is coincident with the key 2020-2021 support line (off November 2020 lows). In case the buying pressure gathers extra steam,

GBP/USD fails to extend corrective pullback from weekly low. Brexit bill adds to the EU-UK disagreements over departure issues. Restrictions ease for UK travellers returning to England even as higher infections probe July 19 deadline. Britain’s monthly economic releases for May can entertain traders but covid, Brexit become crucial to follow. GBP/USD edges higher around

GBP/USD Forecast: Cable is not Kane, why sterling is unlikely to benefit from a rebound Harry Kane has taken England’s football team to its first final since 1966 – taking advantage of a rebound seconds after he missed a penalty kick. Can cable also rebound from its lows? That seems a tall order, and not

GBP/USD holds on to corrective bounce off weekly low. Bullish candlestick above 200-DMA favors further consolidation of previous losses. Falling wedge confirmation could bolster the recovery moves. GBP/USD remains sidelined near 1.3800 amid Thursday’s Asian session, following a volatile day that marked a candlestick suggesting trend-reversal. The odds of the pair’s up-moves also benefit from

Apple stock continues to head for all-time highs. AAPL broke the key resistance level at $137. Apple’s mega tech FAANG peer-group GOOGL, FB and AMZN have already set record highs. Apple stock continues to trend very strongly toward making fresh all-time highs. Tuesday saw the mega tech leader add another 1.47% to a steady rise

EUR/USD stays pressured after reversing from three-week-old resistance line. Bearish MACD adds to the downside momentum towards a descending support trend line from early May. Yearly bottom can lure bears below the support line, bulls may refrain entries below horizontal line from March 11. EUR/USD bears take a breather around 1.1820, following the heaviest daily

UOB Group’s Economist Lee Sue Ann suggests the Bank Negara Malaysia (BNM) would leave the policy rate unchanged at 1.75% at its meeting on Thursday. Key Quotes “With additional fiscal aids to cushion the impact of full lockdown, we expect BNM to monitor the fluid situation.” “Resumption of rate cuts may be tough in an

Late Monday, Reuters unveiled good news for travelers from the UK, India, Portugal and Russia suggesting their citizens can now travel to Germany and quarantine on arrival for 10 days. “The quarantine period can be shortened to five days if they test negative for COVID-19,” added Reuters. The news also mentions, “Prior to the change

DIDI under regulatory spotlight, the company only launched in New York IPO last week. China’s Cyberspace Administration begins investigation into DIDI and others. Investors and backers of DIDI include Softbank (SFTBF), UBER, and Tencent (TCEHY). DIDI launched to much fanfare on the New York stock exchange last week, raising nearly $5 billion in the process

WTI starts off the day on the offer as traders await news from OPEC. The price of oil is a touch lower, -0.12% and trades between 75.00/0.7520 for the open. OPEC’s alliance has been put to the test in recent days. The latest updates with regards to the talks that are dragging on and after the United

GBP/USD analysis: Reaches below 1.3750 The 1.3820 level provided enough resistance for the GBP/USD to pass below the lower trend line of the channel down pattern, which guided the rate since June 23. During Friday’s trading hours, the rate fluctuated sideways near the 1.3750 mark. In theory, the pair should decline, as it has no