FX

Gold gains for the second week in a row, but still remains under $1810. While above $1785, the bullish bias could persist in the short term. Gold rose for the second week in a row and finished slightly below $1810 after rebounding from $1783. It was unable to hit fresh monthly highs. The yellow metal

The greenback gains some ground against the aussie, amid closed US equity and money markets. Covid-19 positive news improved investors’ mood as the year-end looms. AUD/USD Price Forecast: Bulls prepare for a challenge of crucial resistance around 0.7280-0.7300. The AUD/USD slides during the late European trading session, down some 0.33% trading at 0.7224 at the

GBP/USD lacked any firm directional bias and seesawed between tepid gains/minor losses. Receding Omicron fears acted as a tailwind for sterling and extended some support. Traders seemed reluctant to place aggressive bets amid the end-of-year thin liquidity. The GBP/USD pair refreshed a daily high in the last hour, albeit quickly retreating a few pips thereafter, and

Australia finally matched market expectations of shortening the gap between two vaccine doses and a booster, after staying silent over the move in Wednesday’s cabinet meeting. Australia Health Minister Greg Hunt took the honor to announce the same on early Friday morning in the Asia-Pacific zone. It’s worth noting that the previous gap between the

A combination of factors pushed GBP/JPY higher for the third successive day on Thursday. Receding Omicron fears turned out to be a key factor behind the sterling’s outperformance. The risk-on mood undermined the safe-haven JPY and remained supportive of the move up. The GBP/JPY cross continued scaling higher through the first half of the European

The White House dims optimism over the Omicron cure after the US Food and Drug Administration (FDA) approved a pill from Pfizer to treat Covid-19. “The White House has warned it will take more than six months to fulfill its initial order for Pfizer’s antiviral Covid-19 pill, as officials damped speculation the drug could immediately

AUD/USD attracted some dip-buying on Wednesday and bounced over 35 pips from the daily low. Easing Omicron fears extended support to the perceived riskier aussie and provided a modest lift. The Fed’s hawkish outlook acted as a tailwind for the USD and capped any further gains for the pair. The AUD/USD pair climbed back above

The US Dollar Index edges down some 0.04% as US bond yields rally. The US 10-year Treasury yield advances sharply some five basis points at 1.47%. DXY Technical outlook: An upside break above an ascending triangle target 98.00. The US Dollar Index, also known as DXY, which measures the greenback’s performance against a basket of

“The talks between Britain and the European Union (EU) are on track for progress,” Irish Prime Minister Micheal Martin said in an interview with Newstalk radio on Tuesday. Key quotes “I was worried about it when I heard of the resignation because that was a potential destabiliser in terms of the Brexit chemistry that had

EUR/JPY is at risk of a downside correction should 128.10 give way to bearish pressures.  127.90 guards a deeper resumption of the dominant bear trend. The daily chart shows that the price is consolidating and has reached a 38.2% Fibonacci retracement level. This would be expected to hold on to initial tests and then potentially

The European Central Bank (ECB) policymakers wanted explicit acknowledgment of upside risks to inflation in the policy meeting last week but were rebuffed by Chief Economist Phillip Lane, Reuters reports, citing sources close to the debate. Additional takeaways “Quite a few wanted to acknowledge the upside risks but Philip (Lane) pushed back hard.” “After a

AUD/USD meets weekly resistance that puts the focus on the downside for the week ahead. Central bank divergence remains the driving force, US dollar is firming. AUD/USD ended the week on the back foot as it ran into a layer of weekly resistance just ahead of 0.73 the figure. Down some 0.8% on the day,

GBP/USD Weekly Forecast: Bulls eye 1.3380 after BOE out-hawks Fed, Omicron empowers bears They say the Federal Reserve signals, the Bank of England acts. This week the “Old Lady” was the first to move among major central banks in raising borrowing costs, which boosted GBP/USD, outweighing Omicron’s fears. Looking ahead, the main factors impacting the

The US Dollar Index ended the week above the 96.50 threshold. The US 10-year Treasury yield finished down, at 1.412%. DXY Technical outlook: Breaks above the ascending triangle, USD bulls target  98.00. The US Dollar Index, also known as DXY, which measures the greenback’s performance against a basket of six rivals, rallies 0.72%, sitting at

GBP/JPY slipped back to pre-BoE levels in the mid-150.00s on Friday as risk appetite deteriorates, boosting the yen. That marks a 1.3% pullback from post-surprise rate hike highs above 152.50, but GBP/JPY is still positive on the week. Though the pair has stabilises in more recent trade as FX markets volumes drop off ahead of

AUD/USD has continued to decline in recent trade and is now in the 0.7130s, down 0.7%, after hawkish Fed rhetoric. Fed’s Waller said the whole point of the Fed’s QE acceleration was to make the March meeting live for lift-off. Recent downside momentum in AUD/USD has continued throughout US trading hours spurred primarily by a

The European Central Bank (ECB) Governing Council Member Olli Rehn said on Friday, “inflation forecasts are subject to very high uncertainty in the current exceptional circumstances.” Last month, Rehn said that the Euro area inflation is expected to ease next year, adding that inflation is not showing up in wages yet. Related reads

NYSE: NIO falls below $30.00 per share, approaches its 52-week low. A respected voice in the emerging markets sector says Chinese stocks will delist by 2024. Investors are shying away from Nio and following in Ark Invest’s footsteps. Update: NIO maintains the sour tone, trading at $29.91 per share, down by 2.86% heading into Wall