FX

USD/JPY has bounced from the 109.12/07 lows. However, the pair’s upside remains capped below 110.25. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects USD/JPY to drop as low as 107.36. See – USD/JPY: Three reasons why the yen could start to recover – MUFG First support seen at the Mid-July low of 109.07

Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes “Fed has met the test for inflation goal to taper.” “Many on

USD/JPY faces further losses if 109.10 is cleared in the near term, commented FX Strategists at UOB Group. Key Quotes 24-hour view: “USD closed on a soft note at 109.21 (-0.16%) in NY but rebounded during early Asian hours. Waning downward momentum coupled with oversold conditions suggests limited downside risk for USD. For today, USD

WTI reversed its direction after rising earlier in the day. UAE sees no need for OPEC to revise output strategy. Investors await API’s Weekly Crude Oil Stock data. After losing nearly 2% on Monday, crude oil prices staged a rebound in the first half of the day on Tuesday with the barrel of West Texas

GBP/USD is poised to reach the 1.3622 55-week moving average. Below here lies the 1.3571 July low. Further falls are set to be seen on a failure to hold above this level, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. One-month highs at 1.3893/1.3914 provide overhead resistance “GBP/USD is poised to

EUR/USD remains on track to close the day flat. US Dollar Index lost its momentum amid plunging bond yields. Flight-to-safety continues to dominate financial markets at the start of the week. The EUR/USD pair started the new week under modest bearish pressure and dropped to its lowest in more than three weeks at 1.1700. With

Palladium nose dives on Monday with more than 1% fall. Price moves in a broader consolidating trading range of $1,960 and $2,080. XPD/USD has been in a continuous downward trend since early May. Palladium (XPD/USD) takes a negative start on the fresh trading week. The metal prices hover in a broader trade band on the

AUD/USD prints a fresh three-week low at 0.7262. Downbeat market sentiment boosts the demand for US dollars. AUD/USD awaits the FOMC meeting to resume its direction. During the European session, the AUD/USD reached a peak of 0.7321. However, as market sentiment deteriorated and American traders got to their desks, the AUD/USD dipped below 0.7300, pushing the

GBP/USD Weekly Forecast: Breaking out of range? Duo of central bank decisions to trigger action Do current inflation trends warrant tightening policy anytime soon? The past week’s latest figures have caused jitters, leaving investors confused. Central banks take the stage in the upcoming week, with the Fed’s taper timing and the BOE’s rate hike prospects

EUR/USD reaches a three-week low at 1.2724. Market sentiment weighs on the EUR/USD as flows flew to the safe-haven USD. The US Dollar Index rises above 93.00 despite weak US consumer sentiment data. EUR/USD keeps sliding for the second day in a row, exchanging hands at 1.1728 down 0.30% on the day at the time of writing. After

The European Central Bank (ECB) Governing Council member Martins Kazaks crossed the wires in the last hour and said that there is no reason to expect permanently hot inflation. Additional quotes: The ECB inflation outlook is likely to be revised higher. Doesn’t see the 2% price goal reached in the medium-term. Market reaction The remarks

EUR/USD bulls step up at a critical level and target a break of hourly resistance for the final sessions of the week.  ECB sentiment turns hawkish, lifting the euro out of the doldrums on Thursday.  EUR/USD is attempting to correct the hourly bearish trend in late New York, running up to hourly resistance near 1.1770.

DXY reverses Wednesday’s pullback and tests 92.80. Next on the upside aligns 92.88 ahead of 93.18. DXY leaves behind Wednesday’s negative price action and flirts with the 92.80 level on Thursday. The index therefore looks to break the consolidative range with the immediate obstacle at the weekly high at 92.88 ahead of the round level

Here is what you need to know in forex for Thursday 16 Sep: The US dollar was pressured on Wednesday in what might have been a delayed reaction to the prior day’s inflation numbers. The UK’s and Canada’s inflation data came in hot by comparison on Wednesday, bringing to light the prospects of convergence between

Silver (XAG/USD) is witnessing some weakness. Downside risks remain for the precious metal while capped by the 55-day moving average (DMA) at $24.72, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. See – Silver Price Analysis: XAG/USD to sink towards $19.65 on a break below $22.63 – Credit Suisse Silver needs to regain

USD/JPY slides below 110 on the back of dollar weakness. Market sentiment is downbeat, benefiting the safe-haven status of the Japanese yen vs the greenback. On Thursday, the US Jobless Claims and the Retail Sales will be released. After posting a three-day high during the Asian session, the USD/JPY turned around and is trading around

GBP/JPY gained strong positive traction on Tuesday and shot to over one month tops. A modest USD pullback extended some support to the GBP and remained supportive. The risk-on mood undermined the safe-haven JPY and provided an additional boost. A sudden pickup in demand for the British pound pushed the GBP/JPY cross to over one-month

Oil marches higher on concerns in the Gulf and production hampered by storms.  OPEC cut its world oil demand forecast for the last quarter of 2021. WTI is over 1.15% higher by the cling bell on Wall Street. The price of oil moved from a low of $69.54 to a high of $70.94 so far.  US output