FX

The Australian dollar remains heavy and exchanges hands amidst a narrow range. Investors brace for the US Consumer Price Index for July. Better-than-expected Australian business confidence data capped further downside pressures. The AUD/USD retraces from weekly highs, but trades in a choppy trading range as traders prepare for the US inflation report. That, alongside geopolitical

EUR/GBP is pressing resistance at 0.8450. Although not their base case, economists at ING note that the pair could reach the 0.8485/0.8500 area on a break above here. 0.8450 might prove the top of a near-term trading range “We had felt that 0.8450 might prove the top of a near-term trading range – despite the

GBP/USD trims some of last Friday’s losses but remains trapped between the 20 and 50-DMA. The daily chart depicts the pair trending between a descending channel as sellers eye the 20-day EMA. The GBP/USD 4-hour scale depicts the pair as neutral-downward biased and might test the 1.2000 figure, short term. The GBP/USD records minimal gains

Open interest in gold futures markets remained erratic on Friday and dropped by nearly 7K contracts, according to preliminary readings from CME Group. On the other hand, volume reversed two daily drops in a row and increased by around 13.3K contracts. Gold looks to retest $1,800 Prices of the ounce troy of gold faltered just

AUD/USD is about to finish the week with losses of 1.10%. A bearish-engulfing candle pattern and the RSI’s crossing below 50 are two reasons that could tumble the AUD/USD. AUD/USD sellers eye a break below 0.6900, on its way towards 0.6800. The AUD/USD drops substantially, courtesy of upbeat US economic data, which sent the major

At its latest meeting, the Reserve Bank of Australia (RBA) raised the key interest rate by 50 basis points to 1.85%. According to analysts at Wells Fargo, the RBA will likely raise again in September but with a 25 bps rate hike. They see the rate peak at 3.10% by early next year. Key Quotes: 

Gold price extends its gains to three straight weeks, up 0.54%. Stellar US jobs data exerts further pressure on the Fed, as next week CPI is eyed. US-China tussles add further uncertainty to the global economic outlook. Gold price remained on the defensive late during the New York session after an early US employment report

The USD/CHF is snapping two consecutive weeks of losses, gaining 1.37%. From the daily chart perspective, the major is headed upwards and will test resistance around 0.9669-75. If USD/CHF buyers conquer 0.9642-50, a move towards 0.9703 is on the cards. The USD/CHF is surging during the North American session after hitting a daily low early

Aussie bulls are facing barricades around 50% Fibo retracement at 0.6983. The asset is expected to remain sideways in the 0.6890-0.7045 range. The 200-EMA has turned flat while the 50-EMA is overlapping with the asset prices. The AUD/USD pair is displaying back and forth moves in a narrow range of 0.6945-0.6976 in the Asian session.

The USD/CHF tumbling below the 100-day EMA could pave the way for a re-test of 0.9470. In the near term, the USD/CHF is neutral downwards, and once it clears 0.9550, it could open the door toward 0.9500. The USD/CHF retraces under the 100-day EMA and shifts the pair’s bias to neutral-downwards as the exchange rate

FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang expect EUR/USD to remain side-lined for the time being, likely between 1.0100 and 1.0260. Key Quotes 24-hour view: “Yesterday, we expected the decline in EUR to extend but we were of the view that ‘the major support at 1.0100 is unlikely to come

Analysts at CIBC consider that the decision of the Bank of Japan to continue with its easing policy will keep the yen limited. They forecast the USD/JPY at 135 by the end of the third quarter and at 132 by year-end.  Key Quotes:  “To no surprise, the BoJ maintained its commitment to broad monetary policy

Asian equities are holding themselves at elevated levels despite soaring Sino-US tensions. An upbeat Caixin Services PMI data has supported the Chinese equities. The DXY is finding a cushion around 106.00 after a steep fall. Markets in the Asian domain are displaying a mixed performance on escalating US-China tensions over Taiwan. The collection of Russian

Advanced Micro Devices reports Q2 results after August 2 close. AMD stock is trading just under the $100 psychological level. Wall Street expects adjusted EPS of $1.04 and revenue of $6.53 billion. Advanced Micro Devices (AMD) stock is trading up 1.7% before lunch on Tuesday as optimism seems to be rising that, unlike competitor Intel

Gold price is testing the upside break of the consolidation formed in a $1,764.45-1,775.35 range. A slippage in US ISM New Orders Index data indicates the downside risk of demand ahead. The US NFP is likely to slip to 250k from the prior release of 372k. Gold price (XAU/USD) has corrected t near $1,774.65 after

NYSE: GME gained 0.50% during Friday’s trading session. GameStop’s stock split hasn’t moved the needle so far. KuCoin announces that it is introducing NFT ETFs for investors. UPDATE: GameStop stock has advanced 3% to $35.02 one hour into Monday’s session to start the week. If GME can hang on, this would be the fourth session

“We are preparing to issue a notice of intent to determine whether to activate the domestic gas security mechanism,” said Australian Resource Minister Madeleine King. In this regard, Reuters mentioned that Australia’s competition watchdog urged the federal government on Monday to consider curbing gas exports, warning its east coast could face a major shortfall next year

GBP/USD extends its gains to two straight weeks, gains some 1.49%. From a daily chart perspective, the GBP/USD is still downward biased, facing solid resistance around 1.2200. GBP/USD Price Analysis: Unless buyers reclaim 1.2245, the pair remains tilted downwards. The British pound finished the week on the right foot and recorded its second consecutive week