FX

Share: “China has not seen deflation, no deflationary risks in the second half of 2023 (H2 2023),” per the latest comments from People’s Bank of China (PBoC) Deputy Governor Guoqiang Liu. The PBoC official also mentioned that the Consumer Price Index (CPI) could decline further in July before improving in August. “Central Bank has ample tools,”

Share: USD/CAD gains some positive traction on Monday and draws support from a combination of factors. A downtick in Oil prices undermines the Loonie and acts as a tailwind amid reviving USD demand. The fundamental backdrop, however, warrants some caution before placing aggressive bullish bets. The USD/CAD pair attracts some buying on the first day

Share: Gold price regains some positive traction on Thursday and recovers a part of the overnight losses. A generally weaker risk tone benefits the safe-haven XAU/USD, though the upside seems limited. Hawkish major central banks might hold back bulls from placing aggressive bets around the metal. Gold price attracts some dip-buying during the Asian session

Share: EUR/GBP slides as UK bond yields surpass German bond yields, strengthening the Pound. From a technical perspective, the pair exhibits a neutral to downward bias, with long-term daily EMAs standing above exchange rates. The EUR/GBP must regain the 0.8600 level and surpass the May 24 daily low resistance of 0.8648 to shift its bias.

Share: WTI remains pressured around weekly low after welcoming bears the previous day. Cautious optimism about China, receding fears of Russia-induced supply crunch fears weigh on Oil price. Anxiety ahead of top-tier central bankers’ speeches, weekly Oil inventory data also tease energy bears. WTI crude oil remains on the back foot for the second consecutive

Share: Gold recovers, rising 0.69% to $1926.30, amid global recessionary fears and faltering US bond yields. A worldwide slowdown in business and manufacturing activity stokes investor concerns and drives a shift to safe assets. Market participants focus on Fed speeches for rate hike insights; current odds are 74.4% for a 25-bps hike in July. Gold

Share: The Reserve Bank of Australia (RBA) published the Minutes of its June monetary policy meeting, citing that “board considered rate rise of 25bp or holding steady and reconsidering at later meeting.” Additional takeaways Arguments were “finely balanced” but board decided case for immediate hike was stronger. Hike would provide greater confidence inflation would return

Share: Early on Friday, around 03:00 AM GMT, the Bank of Japan (BoJ) will announce the ordinary monetary policy meeting decisions taken after a two-day brainstorming. Following the rate decision, BoJ Governor Kazuo Ueda will attend the press conference, around 06:00 AM GMT, to convey the logic behind the latest policy moves. The Japanese central

Share: AUD/JPY grinds near intraday high, stays firmer around the highest levels since late November 2022. Hawkish RBA concerns versus disappointment from Japan PPI, dovish comments from BoJ’s Wakatabe favor pair buyers. Yields, stock futures struggle to justify cautious optimism in the markets amid lack of major data/evens and holiday in Australia. AUD/JPY stays defensive

Share: Gold price once again finds some support near 100-day SMA and edges higher on Thursday. A mildly softer tone around the US Dollar and the cautious mood lend support to the metal. The uncertainty over the Federal Reserve’s next policy move could cap any meaningful gains. Gold price attracts some buyers near the $1,940

Share: GBP/JPY surges to year’s high, up by 0.18%, amid positive market sentiment. Expectations of a dovish Fed and resolution of the US debt-ceiling imbue strength to high beta currencies. Despite the overall upward bias, the technical outlook suggests potential downside pressure on GBP/JPY. GBP/JPY climbed to fresh year-to-date (YTD) highs at 174.68 before a

Share: AUD/USD portrays a volatile reaction to Australia inflation data, China activity numbers. Australia Monthly Consumer Price Index jumps to 6.8% in April, China’s officials PMIs ease for May. Market sentiment dwindles amid mixed signals from data, risk catalysts. US House of Representatives’ voting on measures to avoid default, JOLTS Job Openings eyed for clear

Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite.  US Dollar corrects after strong rally, giving Oil a backdraught.   Oil price steadies on Friday after the previous day’s tumble, as

Share: USD/JPY has slipped sharply below 138.50 following weak cues from the US Dollar Index. The USD Index has faced immense pressure as US debt-ceiling talks have been concluded without an agreement. Fed Kashkari cited that there is no way the Fed can protect the economy from the negative effects of default. The USD/JPY pair

Share: US Dollar Index bulls take a breather at multi-day top after three-day uptrend. Hawkish Fed bets, hopes of no US default underpin US Treasury bond yields and DXY run-up. Challenges to US debt ceiling deal, likely spat between the Washington and Beijing over Taiwan poke US Dollar Index bulls. Fed Chair Powell’s speech, US

Share: USD/JPY seesaws near the highest level in a week, prints three-day uptrend. Yields grind higher amid US debt ceiling and banking woes, as well as hawkish Fed talks. BOJ’s Ueda defends easy money policy, Japan PM Kishida to oder assessment on wage outlook by government and BoJ. Softer Japan PPI, unimpressive US inflation signals

Share: US Dollar Index remains depressed after snapping two-day winning streak. US inflation eases in April but details flash mixed signals for Fed watchers. Anxiety amid debt ceiling talks, banking woes put a floor under the DXY price. Central bank comments, risk catalyst and US PPI eyed for clear directions. US Dollar Index (DXY) stays

Share: The strong downtrend in USD/MXN continues as emerging market currencies advance against the US Dollar. USD/MXN eyes 17.5000 support; bullish potential remains limited, with key resistance at 17.9492 and 18.2263. The USD/MXN fell to fresh six-year lows of 17.7462, hit in the middle of the New York session even though the US economy revealed