FX

The US economy created 428.000 jobs for the second month in a row, near market expectations. According to analysts at Wells Fargo, the report is solid and reinforces their belief that the Federal Reserve will execute another 50 bps interest rate hike at its next meeting on June 14-15. Key Quotes:  “Nonfarm payroll growth barreled

The GBP/USD will finish the week with hefty losses of 1.74%. Positive US employment figures and BoE’s speaking keeps the GBP downward pressured. GBP/USD Price Forecast: To remain downward biased unless GBP bulls reclaim 1.2600. The British pound appears to regain composture but remains losing in the day, down 0.06%, after the Bank of England

European Central Bank Executive Board Member Frank Elderson said on Friday that the ECB must ensure that high inflation doesn’t become entrenched in people’s expectations, reported Reuters. Weaker economic data so far doesn’t suggest that the Eurozone is entering a recession, he added.  Elderson’s remarks come after a series of hawkish remarks from other ECB

USD/CNH remains on the front foot, grinds higher around crucial resistance. Multiple tops marked during the week highlight 6.6890 as strong challenge for bulls. Two-day-old support line, 20-SMA restricts immediate downside ahead of fortnight-long horizontal support. USD/CNH holds onto the previous day’s recovery moves as buyers attack multiple tops marked surrounding 6.6980, with an intraday

Here is what you need to know on Thursday, May 5:  The Fed basically baulked at killing the equity market on Wednesday as it trod a by now well-worn conservative path in hiking rates: 50 bps as expected. By taking a 75 bps hike off the table, the bond market immediately repriced the front end

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.5672 vs. the last close of 0.6090. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled. Each morning,

GBP/USD staged a goodish intraday bounce from the weekly low touched earlier this Wednesday. A positive risk tone and dismal ADP report weighed on the safe-haven USD and extended support. The upside potential seems limited as the focus remains glued to the crucial FOMC policy decision. The USD edged lower in reaction to the dismal

NZD/USD bulls are moving in at weekly support.  Wycoff style accumulation could be playing out.  The antipodeans have been wrong-footed by a strong US dollar ahead of the Federal Reserve meeting this week. The kiwi has been sent down to fresh cycle lows vs. the greenback where it is now consolidating as per the following

Though trading weaker on Tuesday, silver is holding up above $22.50 for now as bears eye sub-$22.00 annual lows. Macro strategists are warning more downside is likely as the Fed embarks on aggressive monetary tightening. Though prices have been able to fend off a retest of Monday lows in the $22.12 area and annual lows

The USD/CAD edges higher on Monday, some 0.27%. The US central bank tightening at a faster pace, China’s Covid-19 spread, and Ukraine’s war weighed on the market mood. USD/CAD Price Forecast: Upward biased, though facing solid resistance at 1.2900. USD/CAD rallies ahead of the FOMC meeting and is testing the 1.2900 mark, for the first time,

USD/CAD gained traction for the second straight day and climbed back closer to the YTD peak. Sliding crude oil prices undermined the loonie and extended support amid modest USD strength. Move beyond the 1.2900 mark favours bullish traders and supports prospects for further gains. The USD/CAD pair built on Friday’s strong intraday rally from the

AUD/JPY is establishing below 92.00 on improvement in yen’s safe-haven appeal. The BOJ will continue to stick with ultra-loose monetary policy to inject more stimulus. The RBA is expected to elevate its interest rates to 0.25% on higher inflation. The AUD/JPY pair has surrendered the majority of its gains recorded in the first hour of

GBP/USD Weekly Forecast: In search of a bottom, with eyes on Fed and BOE There was no reprieve for GBP bulls, as the previous week’s selling spiral gathered steam and smashed GBP/USD to its lowest level since July 2020 at 1.2410. King dollar reigned supreme amid heightening volatility within the G10 fx space throughout the

The EUR/USD recorded losses in April of 4.75%, the biggest since 2015. Though Wall Street finished with substantial losses, a sudden shift in sentiment failed to boost the greenback vs. the euro. US Core PCE down ticked, but headline inflation rose to 6.6%, as the FOMC will hold its May monetary policy meeting The EUR/USD

Gold Price is fading its recovery from two-month lows as the US dollar regains poise. The DXY is driving higher on an adrenaline rush from uncertainty over the rate decision by the Fed. Apart from the interest rate decision, balance sheet reduction and further guidance will be in focus. Gold Price is struggling to hold

The USD/CHF to record the biggest monthly gain since May 2012, up 5.17%. A dampened market mood increased the appetite for the safe-haven Swissy as US dollar traders booked profits. USD/CHF Price Forecast: A daily close below 0.9700 might open the door for a mean reversion move. The USD/CHF retreats from YTD highs though clings

US PCE Price Index Overview Friday’s US economic docket highlights the release of the March Personal Consumption Expenditure (PCE) Price Index, scheduled later during the early North American session at 12:30 GMT. The headline gauge is expected to edge higher from 6.4% YoY in February to 6.5% during the reported month. The core reading, however,

USD/CHF oscillates in a narrow range of 0.9717-0.9723 ahead of SBN’s Jordan and US Michigan CSI. SNB’s Jordan could sound hawkish in his speech amid higher inflation. The uncertainty over the rate hike announcement by the Fed will dominate the Fx domain. A back and forth move show has been displayed by the USD/CHF pair