FX

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

Share: USD/CHF is expected to extend the downside to near 0.8900 amid weak appeal for the USD Index as safe-haven. A consecutive 25 bps interest rate hike is expected to be followed by neutral guidance from the Fed. US yields are under immense pressure after Treasury estimated that it would be out of funds for

Share: The Central Bank of Colombia (BanRep) raised its key interest rate by 25bps to 13.25%. Analysts at TD Securities think this was the last hike in the cycle and they warn that after the recent Cabinet reshuffle form the President, the central bank has now additional reasons to be cautious in coming months. Key

Share: US Dollar Index stays pressured near one-week low as yields drop amid Fed concerns, US debt ceiling drama. US politicians jostle over debt ceiling plan ahead of June expiration. Markets brace for Fed policy pivot, rate cuts in 2023 ahead of next week’s anticipated 0.25% lift. Spread between US one-month and three-month Treasury bond

Share: NZD/USD is expected to witness a downside after the conclusion of the short-lived pullback to near 0.6170. Fed policymakers are supporting more conservative monetary policy despite easing US labor market conditions. A significant decline in NZ inflation indicates that the RBNZ is well on track of arresting sticky inflation. The NZD/USD pair is hovering

Share: USD/CHF is aiming to recapture the critical resistance of 0.9000 as Fed policymakers are convinced of more rate hikes.  S&P500 futures have recovered the majority of losses reported on Friday, portraying a recovery in investors’ risk appetite. Swiss inflation is expected to get arrested sooner by the SNB as banks have tightened their credit