FX

A general slide of the dollar boosts AUD/USD to the upside. Pair faces next resistance around 0.7275. US inflation rises to 7%, largest increase in nearly 40 years. The US dollar is falling sharply amid higher equity prices and following the US CPI December report. The AUD/USD jumped to 0.7266 during the American session, reaching

GBP/USD Price Analysis: Hovers around 10-week high on the way to 1.3700 GBP/USD seesaws near November highs after crossing the key resistance line to refresh multi-day peak the previous day. That said, the cable pair makes rounds to 1.3630-35 during the initial Asian session on Wednesday. Although nearly overbought RSI challenges the pair buyers, a

FOMC Chairman Jerome Powell will testify before the US Senate Committee on Banking, Housing, and Urban Affairs for his confirmation hearing on Tuesday, January 11, at 1500 GMT. [embedded content] Related articles Federal Reserve Jerome Powell testifies Tuesday, prepared remarks out. Fed Chair Powell to offer hints about QT and lift-off timing – TDS. About

Analysts at TD Securities (TDS) provide a snippet of what they expect from Fed Chair Jerome Powell’s testimony, especially after the hawkish FOMC minutes. Key quotes “Focus shifts to Fed speak with Powell’s nomination hearing, where we will be on alert for hints about QT and lift-off timing. Judging by recent Fed rhetoric, it seems

The S&P 500 has dipped under 4600 and is down another more than 1.5% as the equity downturn continues. Concerns about Fed tightening and higher US bond yields continue to be the main driver of the selling. The equity bears have picked up where they left off with things last week, with US equity markets

Update: Gold price is posting small losses while ranging below $1,800 so far this Monday, as holiday-thinned market conditions combined with a broad-based US dollar rebound offer headwinds to bulls. Traders also turn cautious ahead of this week’s US inflation data, as the Fed appears behind the curve after Friday’s upside surprise in the wage

AUD/USD has been choppy on Friday in wake of a mixed US labour market report. The pair is now trading in the 0.7180s having dipped as low as the 0.7130s. The dollar weakened broadly despite the jobs report spurring upside in yields on Fed tightening expectations. AUD/USD was choppy on the final day of the

The New Zealand dollar advances some 0.46% as the North American session ends. A risk-off market mood was no excuse for the NZD to gain vs. the USD. NZD/USD Technical Outlook: Downward biased as long as it remains below 0.6859. On Friday, the New Zealand dollar trimmed some of its Thursday’s losses despite a risk-off

The British pound advances some 0.18% vs. the Japanese yen. GBP/JPY failure to reclaim above 158.22 exposes the pair to downward pressure unless GBP bulls keep the pair above 156.00. As the end of the first trading week of 2022 approaches, the British pound trimmed some of Thursday’s losses and reclaimed the 157.00 figure. At

GBP/USD Weekly Forecast: Cable at the mercy of US inflation and Omicron, correction seems imminent Omicron may be peaking in London – but the Federal Reserve’s urge to tighten is still rising. These two forces will likely remain in play in the upcoming week, featuring all-important US inflation and retail sales data, GDP from the

Nonfarm Payrolls disappointed, but the labor market tightness indicators were stronger than expected. The employment numbers had a modest impact on the FX market. Looking ahead, economists at TD Securities think the bar is very high to undermine the USD, especially as the Fed is very determined to move out of very accommodative policy settings.

King dollar is expected to reign supreme across the fx board in 2022 as well, thanks to the monetary policy normalization by the US Federal Reserve (Fed), according to the 49 foreign exchange strategists polled by Reuters between January 4-6. Key findings Nearly two-thirds of the respondents said “interest rate differentials would dictate sentiment in major FX

WTI briefly eclipsed the $80 per barrel level for the first time since mid-November as OPEC+ struggles to lift output. Crude oil prices have rallied despite recent downside in global equities after hawkish Fed minutes, and are watching Kazakhstan unrest. Front-month WTI futures have surged on Thursday despite recent hawkish Fed minutes induced downside in

WTI pulls back from six-week high, pressured around intraday low at the latest. Bearish candlestick, sluggish RSI hints at buyer’s exhaustion below multi-day-old resistance line. 50-DMA, 100-DMA restricts immediate downside ahead of monthly support line. WTI crude oil remains on the back foot near the intraday low of $76.56, down 0.20% on a day during

EUR/USD has been moving higher in recent trade, unfazed by hot US ADP numbers and perhaps helped by hawkish ECB-speak. The pair is up over 0.3% or roughly 40 pips in the 1.1320s. EUR/USD has been moving higher in recent trade, unfazed by a massive beat on expectations from the latest US ADP employment report

XAU/USD holds the recent advance amid easing Treasury yields.  The price is in a consolidation area, with $1,808 on the downside in focus. Traders are awaiting key US data this week, while the stock market cheers a positive start.  Update: Gold price has entered a phase of upside consolidation above $1,1810 in Wednesday’s Asian trading,

EUR/USD is trading back under 1.13. In the view of economists at Scotiabank, Italian politics is set to weigh on the common currency. The 1.1275/85 zone to stand as intermediate support “The Italian lower house announced today that voting on a new Italian president will start on January 24th, with Draghi possibly pulled away from

US 10-year Treasury yields seesaw near six-week high, 2-year coupon clings to March 2020 high. Omicron fears, Fed rate-hike concerns propel yields ahead of the key US data flow. US ISM Manufacturing PMI to decorate daily calendar, FOMC Minutes, jobs report are crucial for the week. US Treasury bond coupons stabilize around multi-day top during