AUD/USD holds upper ground after posting the week’s first daily gains. Fed’s Powell drowned US dollar with rejection to policy adjustments, Aussie data added to bullish impulsive. Sydney extends local lockdown, Victoria feared for one. Aussie jobs report could be bleak in June amid virus-led activity restrictions, China GDP will be the key as well.
FX
DG is at 52 week highs but headwinds ahead. Supply chain bottlenecks, wage pressures, consumer choice all problems for the company. A tactical way to play the correction. Whether inflation is transitory or durable continues to be the debate in the markets, but the very clear fact as shown in yesterday’s CPI data is that
GBP/USD bulls tested at critical daily support GBP/USD is off the recent recovery highs and is at a make or break area on the daily chart. The central banks are in focus and driving the price as well as COVID risk. Due mainly to US dollar strength, GBP/USD is under pressure on Tuesday, down 0.33% at the
The AUD/USD pair jostled up and down around 0.77 in the first half of June. After dipping to the 0.7475-0.7500 range on June 18, it then moved around 0.75 in the latter half of the month. The AUD/USD pair’s room on the downside looks set to widen in July, in the view of analysts at
NZD/USD starts off Asia better offered, with a focus on the greenback. The RBNZ will be the main event for the Kiwi this week. NZD/USD is currently trading at 0.6984, down some 0.20% on the day as traders get set for the Asian session. NZD/USD travelled between a low of 0.6948 and a high of
USD/ZAR rebounds, looks for more upside amid USD’s bounce. The spot set for a triangle breakout on the 1D chart, as it probes 100-DMA. 21-DMA is the level to beat for the bears but the RSI remains bullish. Having found strong support near 14.20 once again, USD/ZAR is attempting a rebound towards 14.50. This comes as
US Stocks AVAV, ESLT, ICE, HDFC, NTLA & NVDA Technical Analysis Elliott WaveAeroVironment, Elbit Systems Ltd, Intercontinental Exchange Inc, HDFC Bank Limited In,c Intellia Therapeutics Inc, Nvidia Inc Elliott Wave Technical Analysis: Elliottician is Alessio Barretta AeroVironment Inc.,AVAV: Daily Chart, July 1 2021We were expecting wave (c) of y) to complete. Elbit Systems Ltd.,ESLT: Daily
Gold price books third straight weekly gain, 200-DMA remains in sight. Daily closing above 21-DMA reignites bullish interest, as RSI recovers to 50.00. Gold Price Weekly Forecast: XAU/USD bulls bet on Golden Cross pattern, uptrend support, lower yields. Thursday’s Doji candlestick doesn’t seem to have discouraged the bulls, as gold price staged an impressive bounce
Commenting on the inflation outlook, the European Central Bank (ECB) executive board member Isabel Schnabel said Saturday that she is very confident that Eurozone will not experience ‘excessively high inflation.” Key quotes “Our medium-term inflation projection is subdued: only 1.4% in 2023. Though that is surrounded by uncertainty, I am sure that we will not experience excessively
AUD/USD consolidates the stellar recovery below 0.7500 The aussie resistance aligns around 0.7490 where key averages coincide. Hourly RSI has turned flat below the overbought region. AUD/USD is consolidating its robust recovery from seven-month lows below 0.7500, as the bulls take a breather before the next push higher. Looking at the hourly chart, the aussie’s
GBP/USD outlook: Bulls regain traction but more evidence needed to signal reversal Cable regained traction on Friday after negative tone prevailed during this week, with three-day drop ending with a hammer candle that generated initial bullish signal. Fresh advance nearly fully reversed losses of this week but needs lift above pivotal barriers at 1.3887/97 (falling
We are not aiming for inflation either above or below the 2% target; that is important to me. Temporary deviations from the target can occur but we don’t make policy contingent on targets not met in the past. Correct for ECB to consider climate change risks. Will not make policy contingent on past, strategy is
BABA shares back in the limelight as more headwinds surface. Crackdown on DIDI brings more attention on BABA. BABA shares have struggled since ANT Group IPO was cancelled in late 2020. Update July 7: Alibaba Group Holding Ltd – ADR (NYSE: BABA) closed Thursday in the red amid a prevalent risk-off mood. The share lost 3.92%
USD/JPY does not rule out a move to the 110.00 area in the next weeks, commented FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that ‘despite the relatively sharp decline, downward momentum has not improved by all that much but there is room for USD to edge lower to 110.30’. Our
What you need to know on Thursday, July 8: The dollar came under mild pressure ahead of the close, following the release of the FOMC Meeting Minutes. The document showed that Fed officials consider the standard of “substantial further progress” needed to adjust monetary policy was seen as not having yet been met. Various FOMC
EUR/USD is trading on the lower ground on America’s relative economic strength. However, EUR/USD may have a bottom – at least a temporary one. Yohay Elam, an Analyst at FXStreet, explains why the euro is set to enjoy a (temporary) bounce at the double-bottom. Potentially upgraded EU forecasts and more nuanced Fed minutes to trigger
EUR/JPY bears taking control at the start of the week. Bears seeking a downside test deeper into daily support. EUR/JPY has been pressured at the start of the week with the price falling from the upper 131 area to take out the late June support structure in the 131.20s. The price has gone on to
FX option expiries for July 6 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1840-50 718m 1.1865-70 1.2b 1.1875-80 944m 1.1900-05 1.5b – USD/JPY: USD amounts 109.65-70 2.8b 110.70-75 609m 111.00 2.1b 111.20 715m 111.95/112.00 823m – AUD/USD: AUD amounts 0.7330 409m 0.7620 509m – USD/CAD: USD amounts 1.2400