FX

GBP/JPY accumulates gains for the past five consecutive sessions. The sterling benefits from the drop in fresh coronavirus cases, upbeat economic data. Yen remains on the backfoot on uncontained coronavirus cases, BOJ concerns over the economic recovery. GBP/JPY moves cautiously toward the 152.00 mark in the European trading hour on Thursday. The pair hovers in

GBP/USD bulls are in charge, moving on a critical daily resistance.  The US dollar is under pressure as best of an immanent taper are dialled down by terrible ADP miss.  At the time of writing, GBP/USD is trading at 1.3780 and between a low of 1.3731 and a high of 1.3798 having moved in on

German Retail Sales fell by 5.1% MoM in July vs. -0.9% expected. Retail Sales came in at -0.3% YoY in July vs. 3.7% expected. According to the latest data reported by Germany’s Destatis on Monday, the country’s Retail Sales dropped by 5.1% MoM in July versus -0.9% expected and 4.2% last. On an annualized basis, the German

The central bank of Mexico (Banxico) said on Tuesday that it forecasts economic growth of 6.2% in 2021, as reported by Reuters. Additional takeaways “Banxico forecasts 2021 fourth-quarter inflation of 5.7% “Banxico forecasts 2022 fourth-quarter inflation of 3.4%.” “Banxico forecasts 2022 GDP growth of 3.0%.” “Mexican economy expected to create between 640,000 and 840,000 jobs in 2021.” “Banxico

In opinion of FX Strategists at UOB Group, further upside could see AUD/USD re-visiting the 0.7360 region in the next weeks. Key Quotes 24-hour view: “Yesterday, we held the view that AUD ‘could test 0.7335 first before a pullback can be expected’. However, AUD eased off from a high of 0.7319 and subsequently traded mostly

USD/MXN drops for the second day in a row, approaches short-term support. Technical indicators favor the Mexican peso, but cross remains above key level. Market optimism continues to keep the upside limited in USD/MXN. The pair peaked at 20.45 two weeks ago and then it moved in a range between 20.17 and 20.42. On Monday

One-month risk reversal on Palladium (XPD/USD), a measure of the spread between call and put prices, not only reversed the previous week’s upside momentum but also dropped the most since the week ending on July 16, according to data source Reuters.  A call option gives the holder the right but not obligation to buy the underlying

Pinterest Inc.,PINS: Daily Chart, August 26 2021.We should be missing one last move down, so look closely the 23.6 and 38.2 fib level, and after that we can look for buys.  UiPath Inc.,PAHT: 4H Chart, August 26 2021After a confusing start which could be labelled as complex we may have completed a leading diagonal into wave {I}

Commenting on the US jobs scenario in an interview with CNBC late Friday, Federal Reserve Vice Chair Richard Clarida said, “We’ve made progress on the labor market.” Additional quotes “Expect further gains in the autumn.” “I don’t think it takes 800K gains in jobs but it will take robust gains.” “Inflation is very likely to be largely

“One more good jobs report will be sufficient to be able to start tapering,” the US Federal Reserve (Fed) Governor Christopher Waller said in Yahoo Finance interview, adding that “we would like to start tapering early this fall.” Read: Federal Reserve Chair Powell: Make me a rate hawk, but not yet Further comments “We don’t look

GBP/USD climbs to one-week highs at 1.3780 as USD holds onto losses US dollar tumbles after Fed Chair Powell speech at Jackson Hole symposium. Cable soars on Friday, trims half of last week’s losses. The GBP/USD pair rose sharply on Friday and extended weekly gains. It is about to end the week hovering around 1.3765,

Previewing next week’s key macroeconomic data releases from the US, “payrolls probably slowed sharply after a 943k surge in July,” said TD Securities analysts. Key quotes “The pattern reflects less help from the seasonal adjustment process, particularly for the government sector, but underlying momentum appears to have faded as well. That is the signal from

EUR/GBP edges higher in the early European session on Friday. The Euro gains momentum on hawkish ECB, mixed data. The sterling remains on the backfoot amid concerns of economic slowdown due to Brexit induced supply-chain disruptions. EUR/GBP edges higher on the last trading day of the week in the early European trading hours. The pair

Data released on Thursday showed GPD grew at an annualized rate of 6.6% during the second quarter, revised from 6.5% and below the 6.7% expected.  The data continue to show that consumer spending was the primary driver of overall GDP growth in Q2, with business fixed investment spending also making a positive contribution to the

USD/CAD refreshing intraday high after bouncing off three-month-old support. Firmer RSI directs buyers towards 10-DMA before a bumpy road to yearly high. 200-DMA, horizontal line from late June add to the downside filters. USD/CAD prints the biggest daily gains in a week, up 0.25% intraday around 1.2622 ahead of Thursday’s European session. Although failures to

Weaker yen across the board boost GBP/JPY. Cross gains for the third consecutive day, off monthly lows. Market participants await Friday’s Jackson Hole speed by Fed Chair Powell. A rally in USD/JPY boosted the GBP/JPY cross that climbed to 151.22, reaching the highest level in a week. The pound is hovering around 151.00, still unable

USD/INR stays firmer around intraday high, up for the second consecutive day. Steady RSI suggests continuation of trading inside short-term range. Monthly resistance line, horizontal area from late June become strong levels to watch. USD/INR stays mildly bid for the second day, extending bounce off three-week low, while picking up bids to 74.20 during early

Cable flat for the day remains sideways, limited by 1.3750. US dollar still weak across the board on risk appetite, DXY slides 0.10%. Market participants ignored US data, focus remains on Fed Chair Powell’s speech. The GBP/USD gained momentum during the American session and rose to test daily highs slightly below 1.3750 and again it