FX

EUR/USD struggles make a decisive move in either direction on Tuesday. US Dollar Index retreats to 90.50 after renewing monthly highs. Retail Sales in US declined by 1.3% in May. After staying stuck in a very tight range during the Asian trading hours, the EUR/USD pair reached a daily high of 1.2148 in the European

AMC shares picked up on Monday, reached a daily high of $60.55. Wall Street closed mixed, as the focus is on the US Federal Reserve’s decision. AMC keeps struggling to remain afloat despite frenzy fundraising. Update June 15: AMC Entertainment Holdings Inc. (NYSE: AMC) rallied hard on Monday, extending the previous week’s recovery momentum towards the

Commerzbank expects inflation concerns to lift the gold price up to $2,000/oz by the end of the year, as reported by Reuters. Commerzbank also sees silver price rising to $30 per troy ounce end-2021 and forecasts palladium at $2,800 per troy ounce. Related articles Gold Price Analysis: XAU/USD slides below $1,850 level, fresh one-month lows.

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What you need to know on Monday, June 14: The dollar advanced on Friday, to close the week with gains against all of its major rivals. However, no critical threshold was broken. Demand for the American currency was backed by solid US data, which points to an underway economic comeback, as the preliminary estimate of

Previewing next week’s FOMC meeting, “given recent data the economic projections of FOMC participants are likely to see an upward revision for PCE inflation in 2021 and the dot plot may be getting closer to a rate hike before the end of 2023,” said Rabobank analysts. Key quotes “The Fed is pushing back verbally against

British Prime Minister Boris Johnson is planning to delay the lockdown lift to July 19, which was originally scheduled to take place on June 21, to July 19 amid rising cases of the coronavirus Delta variant, The Sun reported on Friday. According to the news outlet, the UK will have a two-week review and could

UK PM Johnson planning to postpone June 21 lockdown lift – The Sun British Prime Minister Boris Johnson is planning to delay the lockdown lift to July 19, which was originally scheduled to take place on June 21, to July 19 amid rising cases of the coronavirus Delta variant, The Sun reported on Friday. According

Consumer confidence in the US improved in June. US Dollar Index continues to push higher toward 90.50. The Consumer Sentiment Index in the US improved to 86.4 (preliminary) in June from 82.9 in May, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation of 84 by

There are bearish bets on the US dollar as market prices out Fed reaction to CPI. Bond market figure inflationary transitory only.  The greenback switched from bullish pre-US Consumer Price Index data, edging higher for a third straight day the highest level since Monday at around 90.30, to bearish post the event. The CPI rose 0.6%, with

DXY moves higher to the 90.30 region on Thursday. US Core CPI rose 3.8% YoY in May, above estimates. Initial Claims rose by 376K from the previous week. The greenback returns to the positive territory and pushes the US Dollar Index (DXY) to fresh highs around 90.30. US Dollar Index up on higher inflation The

Australian PM Morrison is seeking the WTO to resolve China wine tariffs. Speaking ahead of the G7-plus summit in Britain, Morrison is seeking support for the modernisation of global trade rules and ‘freedom over authoritarianism’ considering the deterioration in Sino-Australian relations of late. The relations come on the back of the covid crisis where Australia lead, along with other

AMC shares continue to advance on Monday, reaching above $50. AMC and other retail stocks remain in the crosshairs of the SEC as it monitors volatility in certain stocks. AMC asks shareholders to approve the sale of another 25 million share issue in 2022. Update June 9: AMC Entertainment Holdings Inc (NYSE: AMC) has kicked off Wednesday’s

In earlier trade today, the People’s Bank of China (PBOC) set the yuan (CNY) reference rate at 6.3956 vs the previous fix of 6.3909 and the previous close of 6.4010. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this

Here is what you need to know on Tuesday, June 8: Bitcoin wallets may not be as secure as first thought as the US gets most of the Colonial ransom back. The cryptocurrency drops again having made a brief attempt at stabilization and reduced volatility last week. A break of $30,000 now looks likely and

Update: Gold (XAU/USD) refreshes intraday high in a bid to piece the $1,900 threshold, up 0.13% intraday around $1,902, during early Tuesday. Gold traders cheer a 0.15% uptick of the S&P 500 Futures joining the downbeat US Treasury yields and inflation expectations to print a three-day uptrend by the press time. Behind the moves could

Update: Gold struggled to capitalize on Friday’s goodish rebound from the $1,855 region, or three-week lows and edged lower on the first day of a new trading week. The commodity remained depressed heading into the North American session and was last seen trading just above the $1,885 level, down nearly 0.20% for the day. As investors

Bloomberg came out with an analytical piece on the recent behavior of China’s consumers suggesting a cautious mood for the globe even if the pandemic woes ease moving forward. “Consumers in China remain cautious even though the Covid-19 outbreak has been under control for much of the past year. That’s offering clues for the kind