GBP/USD Weekly Forecast: Downside risks remain intact ahead of a big week GBP/USD booked the second straight week of losses, as bears refused to give in amid hawkish Fed-driven sentiment and risk-aversion. Cable touched its lowest level since November below 1.3000, as King dollar reigned supreme, partly buoyed by the US bond market rout. With
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The USD/JPY ended the week on the right foot, gaining 1.42%. High US Treasury yields underpinned the USD/JPY pair. USD/JPY Price Forecast: The pair is upward biased, but it might correct courtesy of RSI showing overbought conditions. The USD/JPY is set to finish the week above the 124.00 mark for the first time in the
NYSE:DIDI gained 12.80% during Friday’s trading session. The Chinese government agrees to work with US Auditors for ADRs. Chinese ADR stocks skyrocket to close the week. NYSE:DIDI saw the tides turn on Friday as the beleaguered ride-hailing company saw its best performance in weeks. Shares of DIDI jumped by 12.80% and closed the trading week
NZD/USD pressured in the open on a firmer US dollar. Fed expectations underpin the greenback following Friday’s NFP. NZD/USD is holding near support at 0.6910 in the open, trading down some 0.10% after sliding from 0.6921 at the start of the session. The greenback is firm following Friday’s mixed Nonfarm Payrolls that points to a hawkish Federal
Gold slumps for the third day of the week amid an upbeat market mood and rising US yields. The 2s-10s yield curve inverted for the second time in the week as investors expect the US economy will slow down. Mixed US economic data was mainly ignored by XAU/USD traders. XAU/USD Price Forecast: In consolidation within
GBP/USD Weekly Forecast: Little hope for bulls, as focus shifts to Fed minutes After charting a Doji candlestick in the previous week, sellers returned this week and left GBP/USD in close proximity to two-week lows of 1.3050. The divergent monetary policy outlooks between the US Fed and Bank of England (BOE) weighed heavily on the
The greenback remains buoyant in the session, weighing on the Japanese yen. Upbeat US macroeconomic data boost US Yields. The yield curve is inverted in 2s-10s and 5s-30s. USD/JPY Price Forecast: The uptrend remains intact and might exacerbate an upward move towards 125.00 if it reclaims 123.00. The USD/JPY recovers after dipping 350-pips in the
EUR/JPY rebounded into the mid-135.00s as the yen suffered from higher yields and the euro benefitted from hot EZ inflation. ECB rhetoric was also notably more hawkish and, as a result, short-term EUR/JPY bulls are eyeing a retest of 137.00. EUR/JPY rebounded back into the mid-135.00s on Friday as higher yields, particularly in the US weighed
A Kremlin spokesperson said on Friday that Russia will not turn off gas supplies to Europe from April 1. “Payments on gas deliveries due after April 1 come in the second half of April and May,” the spokesperson explained. Additional takeaways “Gazprom will closely work with its gas buyers.” “Russian President Vladimir Putin’s order of
Breakout of the descending triangle formation will be followed by volatility and volume expansion. The 200 EMA is offering a cushion to the greenback bulls. The RSI (14) in a 40.00-60.00 range has kept investors on the sidelines. The USD/JPY pair is oscillating in a narrow range of 121.28-122.45 in the previous two trading sessions
Amazon is one of the world’s most well known companies with a huge presence in the e-commerce sphere. It is also the world’s 5th most valuable brand with a market cap of over $1.5 trillion. Part of Amazon’s success has been the relentless focus on what helps the consumer. This has led to an ever
USD/CHF is balanced in a narrow range of 0.9220-0.9240 below 61.8% Fibo retracement. A death cross of 50 and 200-period EMAs signals more downside going forward. The RSI (14) has slipped into a bearish range of 20.00-40.00, which indicates more pain ahead. The USD/CHF pair is oscillating in a narrow range of 0.9220-0.9240 in early
The fate of gold price remains in the hands of sellers so far this week, as the sentiment in the bond markets and incoming Ukraine headlines continue to remain the main drivers. Inflation concerns are back in play, pushing yields across the globe higher, reducing the demand for non-yielding gold, despite a broad meltdown in
AUD/JPY’s rally eased on Tuesday, with the pair on course to post only its second daily loss since 14 March. But after dipping as low as the 91.40s, the pair managed to recover back above above the key 92.00. Any pullback towards support in the form of 2017 highs around 90.00 likely to be viewed
Gold price remains in the red so far this week, as the US Treasury bonds see no reprieve, leading to the relentless surge in the yields. The US dollar is tracking the rates higher, weighing heavily on gold price. Hopes for progress on the Russia-Ukraine peace talks are boosting the overall market mood, adding to
The gold price is down on the day, losing around 1.9% at the time of writing as the US stock market rises later in the day for a positive close in hopes of a breakthrough in peace talks surrounding the Ukraine crisis. Ukraine Peace talks hopes The FT released an article that states that Russia
“Fertilizer prices were already high before the war. They have now reached record levels amid a precipitous drop in Russian supply… The result is that fertilizer is about three to four times costlier now than in 2020” – Jon Emont and Silvina Frydlewsky, Wall Street Journal writers Sanctions against Russia following its invasion on Ukraine have
CNN’s Andrew Carey and Yulia Kesaieva in Lviv have been reporting on the Russian invasion of Ukraine and wrote in an update that Ukraine’s military intelligence head said that Russian President Vladimir Putin could be looking to carve Ukraine in two – like North and South Korea. ”Brig. Gen. Kyrylo Budanov, the head of Ukraine’s Defense