GBP/USD pares intraday losses, down little around mid-1.3700s GBP/USD attracted some dip-buying on Friday amid a subdued USD price action. The risk-on impulse in the markets acted as a headwind for the safe-haven USD. Rallying US bond yields underpinned the USD and capped the upside for the pair. The GBP/USD pair remained on the defensive
FX
WTI is staying relatively calm following two-day rally. Crude oil inventories in the US rose last week. Eyes on Baker Hughes’ weekly US Oil Rig Count data. After suffering heavy losses at the start of the week, crude oil prices managed to rebound sharply in the previous two days. The barrel of West Texas Intermediate
Sir Jeffrey Donaldson earlier this week, when speaking after a virtual meeting with European Commission Vice-President Maros Šefčovič, said both the UK government and the EU must re-negotiate the Brexit deal because the Northern Ireland Protocol has not worked. “My message was simple. The protocol has not worked,” he said. The Times is running a
Christine Lagarde, President of the European Central Bank (ECB), is scheduled to deliver her remarks on the monetary policy outlook in a press conference at 12:30 GMT. Follow our live coverage of ECB’s policy announcements and the market reaction. [embedded content] About ECB’s press conference Following the ECB´s economic policy decision, the ECB President gives
Gold prices are being pressured around the psychological $1,800 level. The US dollar is earmarked by some analysts as a stronger for longer trade-off. Update: Gold (XAU/USD) seesaws around $1,800, recently easing to $1,803, during the initial Asian session on Thursday. The yellow metal dropped the previous day even as the US Dollar Index (DXY)
Apple stock roars back with a 2.6% gain on Tuesday. AAPL had made new highs but suffered on Monday. Apple releases earnings next week on July 27. Apple shares roared back to life on Tuesday with a gain of over 2% and in the process retook some key technical levels. The move to record highs
AUD/JPY defends corrective pullback from multi-day low, edges higher of late. Risk-off mood cools amid stimulus hopes, further support for easy money policies. Over half of Australia is under virus-led lockdown, Tokyo again registers over 1,000 cases. BOJ Minutes, Aussie Retail Sales could offer immediate direction, risk catalysts are the key. AUD/JPY holds onto corrective
NZD/USD continues to suffer losses following Monday’s drop. US Dollar Index rises for the fourth straight trading day. Wall Street’s main indexes look to rebound on Tuesday. The NZD/USD pair lost more than 60 pips on Monday and extended its slide on Tuesday to touch its lowest level since November at 0.6888. As of writing,
In its latest analysis of Australia, the global rating giant Fitch said, “If higher inflation and interest rates over 2021-2023 modestly exceed our baseline projections, this could be credit positive for the sovereign and banks.” However, the interesting part was the rating institute’s comments over Australian economics, as follows. Key quotes Structured finance transactions are
WTI is heavily sold-off into OPEC+ agreement, damp mood. Delta covid strain concerns continue to weigh on risk appetite. Risk sentiment will continue to lead the way ahead of US crude supply reports. WTI (futures on Nymex) is accelerating its decline starting out a new week, losing as much as 3% so far this Monday, as
EUR/USD remains pressured for third consecutive day, retreats towards monthly low. Virus concerns challenge economic recovery from the pandemic. US data, indecision over Fed’s action adds to the risk-off mood. ECB’s forward guidance will be the key amid fresh inflation target. EUR/USD fades Friday’s bounce off 1.1792, around 1.1805, amid a quiet start to the
The euro has recently underperformed against other G10 currencies, point out analysts at MUFG Bank. They warn, next week’s European Central Bank (ECB) meeting could be more of market mover than previously expected. Key Quotes: “The main event risk for the EUR in the week ahead will be the ECB’s latest policy meeting. While the
USD/JPY rose to a daily high of 110.35 on Friday. 10-year US Treasury bond yield erased its daily recovery gains. US Dollar Index stays in the positive territory after mixed US data. After closing the previous two trading days in the negative territory, the USD/JPY pair staged a rebound and reached a daily high of
Jane Foley, Senior FX Strategist at Rabobank, thinks that the AUD/USD pair could drop toward 0.7200 by the end of the year. Key quotes “Over the coming year or so, developments in the Australian labour market and in particular wage data will be instrumental in guiding expectations regarding RBA policy.” “In this time-frame, it is
GBP/USD falls under 1.3800 to one-week lows Pound weakens near the end of the week amid risk aversion. GBP/USD could post the lowest weekly close since April. The recovery of GBP/USD was short-lived and after reaching 1.3865, it turned to the downside. Recently broke under European session lows and fell to 1.3771, hitting the lowest
Gold stays firmer around monthly top, holds onto 200-DMA breakout. Bulls seem to benefit from doubts over Fed’s next moves even as Powell keeps rejecting need for policy adjustments. Fresh Sino–American tension, covid woes add to the market’s downbeat sentiment. US consumer-centric data awaited, qualitative catalysts are the key. Update: Gold remained on the defensive through
Amid the early Asian session on Friday, Statistics New Zealand is up for releasing New Zealand’s (NZ) second-quarter (Q2) Consumer Price Index (CPI) at 22:45 GMT. With the RBNZ’s clear mandate to alter bond purchases starting from late July, also citing risks from inflation, NZD/USD traders are keen to follow today’s CPI data to build
EUR/USD adds to Wednesday’s gains and retakes 1.1850. The dollar stays offered following Powell’s remarks. US Initial Claims, Powell’s second testimony next on tap. The upside momentum in the European currency remains well and sound and now pushes EUR/USD back to the mid-1.1800s, or fresh 2-day highs, on Thursday. EUR/USD focused on US docket EUR/USD