Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work
FX
What you need to know on Monday, May 24: The greenback recovered on Friday, ending the week mixed across the FX board. The American appreciated following upbeat US data and comments from Federal Reserve officials suggesting a sooner rather than later discussion on tapering amid signs of heating inflation. On Friday, Atlanta Federal Reserve President
Bitcoin tumbles again as China intensifies crackdown Equity markets fall modestly on Friday as big tech retreats but data remains supportive Fed now flips from behind the curve to thinking about being ahead A tumultuous week but not on Wall Street. Crypto and in particular Bitcoin was the narrative spreading across trading screens this week
The Swiss National Bank (SNB) Chairman Thomas Jordan made some comments on the monetary policy outlook and exchange rate value, in an interview with Swiss daily Neue Zuercher Zeitung on Saturday. Key quotes “The franc remains highly valued.” “Inflation is only slightly above zero.” “Productive capacities are not fully utilized in Switzerland.” “Against this background,
GBP/USD drops toward 1.4150 as the US dollar strengthens on economic data Cable retreats from monthly highs, turns negative for the day. US dollar rises across the board supported by US economic data. The GBP/USD dropped to 1.4153 amid a rally of the US dollar across the board. Cable retreated sharply after hitting at 1.4233
US Manufacturing PMI rose to a new series high in May. US Dollar Index rose above 90.00 after the data. The business activity in the US manufacturing sector continued to expand at a robust pace in May with the IHS Markit’s Manufacturing PMI rising to a new series high of 61.5 from 60.5 in April.
NZD/USD refreshes intraday low amid a quiet Asian session. US dollar consolidates the previous day’s losses amid pick-up in 3-year Treasury yields. Israel-Palestine peace accord helps extend Wall Street gains, pre-PMI mood probe bulls. NZD/USD takes offers around 0.7180, down 0.24% intraday, as sellers retake control during early Friday. Amid a lack of major catalysts
FX option expiries for May 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.2160 916m 1.2175 1.3b 1.2300 411m – GBP/USD: GBP amounts 1.4020 608m – USD/JPY: USD amounts 108.65 532m 110.00 522m – AUD/USD: AUD amounts 0.7730-35 964m 0.7760 834m 0.7775 792m 0.7800 354m – USD/CHF:
AUD/USD is on the back foot following the Federal Open Market Committee’s minutes. At the time of writing, AUD/USD is down 0.93% having travelled from a high of 0.7797 to a low of 0.7716. The minutes showed that there are prospects for adjustments to the pace of purchases if the economy continues to make rapid progress towards
USD/CAD gained traction in the late American session. US Dollar Index remains on track to snap four-day losing streak. FOMC Minutes showed some policymakers are willing to discuss adjustments to asset purchases. The USD/CAD pair pushed higher in the late American session and touched a daily top of 1.2132 fueled by the renewed USD strength. As
Update: Gold price remains on the front foot near the four-month top, up 0.20% around $1,871, as European traders prepare for Tuesday’s bell. The gold buyers initially cheered a jump in the US Treasury yields to refresh multi-day high before recently respecting the downbeat US dollar. It should, however, be noted that the greenback bears
S&P 500 Futures ignore downbeat performance of US equities, take the bids of late. US President Biden prepared to send 20 million authorized covid jabs, China backs vaccine patent waiver. Kaplan reiterates need for tapering talk, still expects first rate hike in 2022. US data, Fedspeak keeps markets subdued ahead of Wednesday’s FOMC minutes. S&P
GBP/USD is on the warpath as the US dollar loses traction and support of yields. Bulls target the 1.42 area in a break on the daily resistance. GBP/USD is currently trading at 1.4166 adding 40 pips on the day so far to trade 0.3% higher. Cable has travelled between a low of 1.4125 to a
What you need to know on Monday, May 17: The greenback fell on Friday, following worse-than-expected US data. Retail Sales showed no growth in April, down from 10.7% in the previous month, while the core reading fell 1.5%. Also, the preliminary estimate of the Michigan Consumer Sentiment Index resulted in 82.8 in May, down from
GBP/USD Forecast: Virus variant concerns and the American shopper may push cable below 1.40 GBP/USD has been attempting recovery as markets swing back to positive ground. The danger from variants to Britain’s reopening and US consumption data could push the pair lower. Friday’s four-hour chart is showing that 1.40 is a critical separator of ranges.
Dallas Federal Reserve Bank President Robert Kaplan said on Friday that he is worried about excesses and imbalances in the economy and the housing market, as reported by Reuters. Additional takeaways “It’s going to take a while to resolve supply-demand imbalances in labor market.” “Watching carefully if supply-demand imbalances feed into higher inflation.” “Committed to anchoring inflation
“I reiterated that the United States will not leave Australia alone on the field, or maybe I should say alone on the pitch, in the face of economic coercion by China, US Secretary of State Antony Blinken said during a press conference on Thursday (US time) alongside visiting Australian Foreign Minister Marise Payne. more to come …
AUD/USD added to the US CPI-inspired losses and dropped to over one-week-lows on Thursday. Acceptance below an important confluence support has set the stage for additional weakness. A sustained move back above the 0.7800 mark is needed to negate the near-term negative bias. The AUD/USD pair dropped to one-and-half-week lows during the first half of