FX

Share: Producer inflation in the US continued to decelerate in October.  US Dollar Index stays in daily range above 104.00 after the PPI data. The Producer Price Index (PPI) for final demand in the US rose 1.3% on a yearly basis in October, down from the 2.2% increase recorded in September, the data published by the US

Share: HSBC hands TSLA stock a Reduce rating and price target of $146. Tesla stock is consolidating right on top of $210 support level. HSBC analyst says too much of Tesla growth story comes at end of decade. President Joe Biden supports UAW attempt to unionize Tesla factories. Tesla (TSLA) stock is holding onto a

Share: WTI Oil  falls to a three-month low. The US Dollar holds ground above 105.00 despite abrupt correction.  Oil faces risk of falling to $78, last line of defence before $70 comes into play. Oil prices trade near session low near the start of the US opening bell, despite the reaffirmation from Saudi Arabia and

Share: The 1.33-1.37 range economists at Rabobank have been highlighting for USD/CAD has broken to the upside. They do not expect much further upside for the pair. USD/CAD seen at 1.3620 by year-end We don’t expect much further upside for USD/CAD. Yet, a return to the 1.35 magnet we have been trading around is unlikely

Share: GBP/USD Forecast: Pound Sterling looks fragile ahead of Fed and BoE meetings GBP/USD fluctuated in a narrow channel in the Asian session before retreating to the 1.2100 area in the European morning. The near-term technical outlook suggests that the bearish bias stays intact. Over the weekend, the United Arab Emirates (UAE) requested a UN

Share: The European Central Bank is set to keep key interest rates steady on Thursday after ten consecutive hikes. ECB’s Lagarde could strike a hawkish tone amid upside risks to inflation on Middle East strife. The Euro volatility will likely spike up on the ECB decision and Lagarde’s presser. Ten meetings later and after an

Share: The US Dollar struggles to find demand at the end of the week. Markets are digesting Powell’s words on Thursday. US Treasury yields are retreating and the odds of a hike in December declined. The US Dollar (USD) measured by the US Dollar Index (DXY) oscillates between gains and losses in the 106.15 area,

Share: The CAD dumped – but only briefly – before returning to the low 1.36s where it was before Tuesday’s data reports. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes Loonie’s outlook. The data mix could not have been worse for the CAD The data mix could not have been worse for the CAD on

Share: AUD/USD touches new weekly lows at 0.6289, trading with losses of 0.32%. The University of Michigan’s Consumer Sentiment in the US deteriorates, with inflation expectations rising. China’s struggling economy and Middle East geopolitical tensions further dampen AUD sentiment. The Australian Dollar (AUD) touched new weekly lows of 0.6289 against the US Dollar (USD) courtesy

Share: EUR/JPY fades Monday’s drop and climbs to the 158.00 region. Further side-lined trade appears favoured so far. EUR/JPY sets aside Monday’s small pullback and resumes the upside to the boundaries of the 158.00 zone on Tuesday. In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a

Share: USD/INR holds below the 83.20 mark after the Reserve Bank of India (RBI) rate decision. RBI maintained a status quo on rates for the fourth consecutive time at 6.5%. US Initial Jobless Claims improved to 207,000 from 205,000 in the previous week. The US Nonfarm Payrolls will be a closely watched event for traders on Friday.

Share: Asian equities trade higher amid the light volume due to holidays in China and India. Chinese Caixin/S&P Global Manufacturing PMI dropped to 50.6 in September vs. 51.0 prior. BoJ Governor Kazuo Ueda said that there was “a distance to go” for BoJ before exiting its ultra-loose monetary policy. The Reserve Bank of India (RBI)

Share: Australian Dollar holds ground above 0.6350 after soft Retail Sales data.  Australia’s Retail Sales reported a 0.2% print, lower than the expected 0.3%. US Dollar continues to strengthen on higher US Treasury yields, coupled with upbeat economic data. The Australian Dollar (AUD) hit a 10-month low on Wednesday. However, the AUD/USD pair holds ground

Share: The EUR/GBP made a late-week break for the 0.87 handle. The Pound Sterling continues to give up ground after a dovish BoE shrank from rate hikes, EU PMI figures came in mixed, keeping Euro gains restrained. The EUR/GBP stretched for the 0.8700 major handle in Friday trading, closing the week with over a full

Share: GBP/USD continues with its struggle to register any recovery from a multi-month trough. Traders opt to wait for the UK CPI and FOMC decision, ahead of Thursday’s BoE meeting. The setup favours bears and suggests that the path of least resistance is to the downside. The GBP/USD pair extends the previous day’s rejection slide

Share: As US economic data strengthens the dollar, GBP/USD trades at 1.2397, slipping below its 200-day Moving Average. Odds for a November rate hike by the Fed stand at 32.45%, while bets on a BoE rate hike toward 6% are scaled back. With U.S. 10-year Treasury yields at 4.326% and a solid US economy, the

Share: Key points Saudi Arabia and Russia are extending production cuts, with Goldman Sachs predicting oil prices could reach $107 next year. Baker Hughes, a drilling and production services company, leads the machinery and equipment sector. Diamondback Energy and Pioneer Natural Resources are top performers in the oil and gas exploration and production sub-industry. 5 stocks

Share: USD/CAD drifts lower during the Asian session on Friday amid a modest USD weakness. A combination of factors warrants some caution before positioning for any meaningful slide. Traders now look forward to the monthly Canadian employment details for a fresh impetus. The USD/CAD pair meets with some supply during the Asian session on Friday