Silver is flat after reaching a week of losses, though as the New York session end approaches, silver is flat. The US 10-year T-bond yield is flat at 1.777%, despite Fed policymakers piling to raise rates in March. XAG/USD Technical Outlook: Downward biased, but upside risks remain, as shown by the bullish harami. Silver (XAG/USD)
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The first reading of the Eurozone fourth-quarter GDP figures is due for release later today at 10:00 GMT. As there are downside risks to this reading, the EUR/USD pair should stall at the key 1.1200 hurdle, economists at ING report. Thursday’s ECB meeting unlikely to provide EUR/USD with much support “Downside risks to the Eurozone
US equities surged in late trade after a broadly positive session as Fed bets eased after softer wage data. The S&P 500 lept to close above the 4400 level again to close 2.4% higher and end the week positive. Apple led the charge after positive Q4 earnings and record iPhone sales. US equity markets posted
The USD/JPY slides 0.15% as investors prepare for the weekend. The greenback finished the week above 97.00 for the first time since June 2020. USD/JPY is upward biased, but the pair could print a leg-down before resuming the uptrend. As Wall Street closes, the USD/JPY slides ahead of the weekend, spurred by the US 10-year
The Australian dollar fell off the cliff against the Japanese yen, down 0.77%. Market sentiment has improved in the session, but in the FX market, safe-haven peers rise. AUD/JPY bears look forward to a Weekly/Friday close below 80.70, which would increase the odds for a fall towards 78.78. On Friday, as the North American session
GBP/JPY dipped back from earlier highs near 155.00 to the low 154.00s but remains within recent ranges. The pair is still trading in the green after nursing a recovery from an earlier weekly dip. There is notable resistance in the 153.00 area and resistance in the 155.50 area. GBP/JPY held within a 154.00-155.00ish range on
EUR/JPY was flat on Friday despite a heavy Eurozone data slate amid a calm end to the week. Focus now turns to next week’s ECB policy decision and flash Eurozone CPI data. Despite a heavy slate of Eurozone data out during the European morning, it has been a rather tame trading day for EUR/JPY, with
CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by around 5.8K contracts on Thursday following three daily drops in a row. Volume followed suit and dropped for the second straight session, now by around 133.8K. WTI could attempt some consolidation ahead of $90.00 Crude oil prices
Gold slid to trendline support as US equities lost ground late in the session. US Q4 GDP rose 6.9% saar in December, versus 5.5% expected. US dollar remains in bullish territory despite the slump in US yields. Gold, (XAU/USD), was lower in midday markets on Wall Street, losing some 1.4% at $1,795. The price of
AUD/USD remains under pressure and risks a drop to 0.7060 in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We did not anticipate the sharp drop in AUD to 0.7095 during NY session. AUD extended its decline during Asian hours and strong downward momentum suggests further weakness. That said, oversold
The US Federal Reserve announced on Wednesday that the FOMC had agreed to leave the Federal Funds target range unchanged at 0.0-0.25%, in line with expectations. The central bank said that it would soon be appropriate to raise the Federal Funds rate, the strong hint that many market participants would have been looking for that
Here is what you need to know on Wednesday, January 26: The greenback capitalized on safe-haven flows on Tuesday and the US Dollar Index (DXY) reached its highest level in more than two weeks at 96.27. With Wall Street’s main indexes rebounding modestly from daily lows ahead of the closing bell, the DXY retreated and
AUD/USD is stable in the 0.7140 area on Tuesday after Monday’s brief dip below 0.7100. Hotter than expected Australian CPI data is helping shield AUD from further risk appetite-related losses as US equities slide. After coming within a whisker of hitting the December 20 lows just above 0.7080 on Monday but then subsequently recovering back
Despite the Omicron covid variant-led community spread, New Zealand will go ahead with plans to start a phased reopening of the border from the end of February, Prime Minister Jacinda Ardern said at a news conference Tuesday in Wellington. Key quotes “We will likely confirm the specific date at cabinet in the following two
The base case is for a softer Australian dollar over time for analysts at Wells Fargo. However, they point out the risks appear tilted toward a smaller decline than their forecast of AUD/USD at 0.70 by the third quarter and at 0.68 by the end of the year. Key Quotes: “The economy is enjoying a
“The economies in the six-member Gulf Cooperation Council will grow at their fastest pace in several years,” per the latest Reuters poll. The survey results also mentioned, “Nine of 10 economists who answered an additional question said a decline in oil prices and new coronavirus variants were the biggest threats to GCC economic growth this
US equities continued to fall on Friday after downbeat subscriber guidance from Netflix, whose shares dropped over 20%. The S&P 500 dropped another 1.6% towards 4400 after failing to test 4500 earlier in the session. The index is now down 5.4% on the week and has broken below its 200DMA for the first time since
GBP/JPY dropped 0.7% on Friday, falling from above 155.00 to around 154.00. Risk-off flows and soft UK data weakened sterling while safe-haven demand and lower global bond yields strengthened the yen. GBP/JPY fell sharply on Friday and heavy downside in the global equity market and commodity space weighed on more risk-sensitive currencies such as sterling,