FX

Share: The Euro jumps to 1.1000 as the final US GDP disappoints.  US economic growth revised down to 4.9% in the third quarter from the previous 5.2% estimation. The focus is now on the US PCE Price Index for more cues on the Fed’s policy outlook. The Euro (EUR) extended gains on a thin pre-Cristmas session

Share: USD/JPY is down almost 2% from Monday’s opening bids. A pivot from the Fed saw the US Dollar decline sharply across the broader forex market. Next week pits the BoJ’s last rate call of the year against US GDP & PCE figures. The USD/JPY wrapped up the trading week struggling to develop momentum in

Share: Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes the sequencing and extent of easing to come by the Federal, the Bank of England and the European Central Bank.  Fed to ease before the BoE or the ECB The market prices the ECB cutting before the Fed, which cuts before the UK MPC.

Share: Mullen said its new spoofing complaint will replace its short-selling litigation announced in August. Law firm says spoofing litigation could amounts to “billions” in compensation. MULN trades lower for fourth consecutive session on Friday. Traders wait for December 15 shareholder vote on reverse split.   Mullen Automotive (MULN) stock lost ground for the fourth

Share: Coinbase Global (NASDAQ: COIN) went public on April 14, 2021 with its Initial Public Offering (IPO) and the stock reached its peak on the same day. Subsequently, the cryptocurrency sector was hit hard by the bear market, causing COIN to lose 90% of its value over the following 21 months . Since the beginning of this year, Coinbase has shown an impressive

Share: Unemployment Rate increases to 3.8% in Canada in November, the highest since January 2022.  Canadian economy adds 24,900 jobs, surpassing expectations of 15,000.  Canadian Dollar rises modestly after the report, USD/CAD holds near two-month lows.  The Unemployment Rate in Canada rose from 5.7% in October to 5.8% in November, as expected, Statistics Canada reported

Share: WTI Oil saround $75 ahead of US opening bell. The US Dollar is trading flat as US trading session underpins the Greenback. Oil could sink below $70 if OPEC+ can not unify and come out with a set of supportive measures. Oil prices are reversing a touch on Monday near the US opening bell,

Share: The Greenback is unable to hold on to gains ahead of this week’s close.  US Traders are absent this Thursday as Thanksgiving and Black Friday will keep US trading desks closed. The US Dollar Index breaks below 104 again and is facing a loss for this Thursday and for this week’s performance overall.  The

Share: The AUD/JPY saw a late break higher in Friday’s broad-market sentiment recovery. The Aussie is catching a bounce from the 200-hour SMA and a rising trendline. The technicals are leaning bullish with more upside on the cards, but headwinds remain. The AUD/JPY snuck over the 97.50 level just ahead of the Friday closing bell,

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