EUR/GBP is juggling in a minute range of 0.8520-0.8527 as investors await UK Retail Sales. The ECB paddled up its interest rates surprisingly by 50 bps. A slippage in UK Retail Sales is likely to weaken the pound bulls. The EUR/GBP pair is displaying back and forth moves in a narrow range of 0.8520-0.8527 in
FX
Today’s instrument is the Intel Corp.’s stock traded in NASDAQ exchange under the ticker INTC. When we look at the INTC ‘s chart, we see that it has been in an upward trend in the past days, currently traded at the closed price of around $40.55. Today if failed to continue that upward trend, then
EURUSD price has displayed recovery signs and is likely to recapture 1.0200 on ECB’s rate hike expectations. The DXY has made a confident pullback after sensing lower selling pressure around 106.40. Political turmoil in Italy and renewed obscurity over gas supply from Nord Stream1 have soured market mood. EURUSD price shifted into a correction mode
USD/CAD languished near a two-week low amid the prevalent USD selling bias. Softer crude oil prices could undermine the loonie and help limit the downside. Investors await the Canadian CPI report before placing fresh directional bets. The USD/CAD pair edged lower for the fourth successive day on Wednesday and was last seen trading near a
EURUSD price is juggling in an 11-pips range as bulls are gearing up for a further upside. Dollar sell-off is expected to continue further as inflation is expected to reach its full potential sooner. First-time rate hike by ECB in 11 years will trim the Fed-ECB policy divergence. EURUSD price has turned sideways after a
Heading towards Thursday’s European Central Bank (ECB) interest rate decision, economists at ABN Amro believe that the bank will stick to its pre-commitment of a 25 bps rate hike. Key quotes “The ECB will almost certainly raise its key policy rates by 25bp this week. The Governing Council’s communication has not given it much flexibility
GBP/JPY rose close to 190 pips but retraced almost 100 pips, on market mood turning soar. The cross-currency pair tumbled below substantial resistance, exposing the 165.00 mark to selling pressure. GBP/JPY Price Analysis: Neutral-upwards, but downside risks remain if sellers drag prices below 165.00. The GBP/JPY finished Monday’s trading session in positive territory, up 0.45%,
Bank of America is scheduled to release earnings before the market open on Monday, July 18. Wall Street consensus is betting on $0.75 in GAAP EPS. BAC has been trading inside a descending wedge structure since February. Bank of America (BAC) stock is buoyant in Monday’s premarket as investors bet on a second quarter earnings
USD/JPY gained 1.80% in the week, extending its rally to the seventh consecutive week. USD/JPY Price Analysis: Divergence between price action and RSI spurred a pullback, though a daily close below 137.70 would tumble the USD/JPY towards 134.26. The USD/JPY retreats from YTD highs at around 139.38, towards the middle of the 138.00-139.00 range on
GBP/USD Weekly Forecast: A technical rebound could be in the offing Having tested levels below 1.1900 a week ago, GBP/USD lost further ground and hit a new 28-month low of 1.1760 amid a combination of factors that worked against the British pound. The US inflation stood out in the week and added extra legs to
FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang see USD/CNH advancing further with the next target at 6.8000 in the short-term. Key Quotes 24-hour view: “Our expectations for USD to ‘trade in a choppy manner between 6.7130 and 6.7430’ turned out to be incorrect as USD surged to high of 6.7910
Tesla stock extends gains on Thursday and settles at $714.94. TSLA stuck in a wide band of $620 to $760. Twitter files suit against Tesla CEO Elon Musk. Update: Tesla (TSLA) shares were up 0.54% on Thursday and closed at $714.94. Wall Street started the day dip in the red as fears of a recession undermined demand for
According to FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, USD/CNH could attempt some consolidation ahead of the probable resumption of the upside. Key Quotes 24-hour view: “We expected USD to ‘trade between 6.7260 and 6.7500’ yesterday. During NY session, USD popped to a high of 6.7480, dropped sharply to 6.7100
Silver Price shows signs of bottoming as the US 2s-10s yield curve inversion deepens further towards negative territory. Gold and Silver prices stage a recovery after reaching YTD lows in the last couple of days. Richmond’s Fed Thomas Barkin commented that the high CPI print makes the case to fight inflation even harder. Silver (XAGUSD)
EUR/USD has lots its traction following Tuesday’s recovery attempt. AS FXStreet’s Eren Sengezer notes, parity comes back in play following correction. Investors await June inflation data from the US “Later in the session, the US Bureau of Labor Statistics will release the Consumer Price Index (CPI) data for June. Markets expect annual CPI to climb
Silver slides on safe-haven flows towards US Treasuries as bond yields fall The greenback takes a breather after reaching a 24-year high above 108.000, a respite for silver traders. The US 2s-10s yield curve screams recession, falling to 2007 levels at around -0.107%. Silver (XAGUSD) remains on the defensive as Tuesday’s North American session progresses,
GBP/JPY extends the week-start pullback amid risk-aversion. UK’s political leaders step forward for President’s chair after Boris Johnson’s departure. Treasury yields remain pressured, portray recession fears as inflation expectations soar. The second round of BOE Governor Bailey, risk catalysts will be important to watch for fresh impulse. GBP/JPY holds lower ground near the intraday bottom
The white metal remains downward biased but appears to have found a base around $19.00. Safe-haven flows toward the greenback, and US Treasuries keep the precious metals complex under pressure. The US 2s-10s yield curve is still inverted, flagging recession fears. Silver (XAGUSD) is subdued during the North American session, seesawing for the fourth consecutive