FX

EUR/JPY clinched new 2021 highs in the 133.60/65 band. The next hurdle on the upside emerges at the 134.00 hurdle. EUR/JPY keeps the rally well and sound and manages to keep business in the upper end of the range past the 133.00 mark. The continuation of the uptrend looks likely in the very near-term, with

One-month risk reversal of GBP/USD, a gauge of calls to puts, drops the most in May, based on the weekly basis, by the end of Tuesday trading, per the latest data from Reuters. This goes hand-in-hand with the cable pair’s recently sluggish performance around the multi-day top. That said, GBP/USD remains pressured around 1.2150 by

UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assess the latest inflation figures in Malaysia. Key Quotes “Headline inflation accelerated to a 4-year high of 4.7% y/y in Apr (from +1.7% y/y in Mar), largely due to transitory factors (i.e. higher commodities prices and food supply disruptions) and the lapse of electricity

Silver extends rebound from 100-SMA, monthly support line. Multiple levels between $27.90 and $28.00 test bulls amid upbeat MACD. Early month tops add to the downside filters. Silver prices hold onto Friday’s recovery moves, followed by Monday’s run-up, during early Tuesday morning in Asia. In doing so, the white metal keeps its bounce off 100-SMA

Tesla shares steady on Friday, a small fall of 1% but still at a key juncture. TSLA shares have fallen sharply since January. TSLA rallies up to resistance at the 200-day moving average. Tesla shares lost some ground on Friday but it was a relatively modest 1% loss with the shares closing at $580.88. Earlier

“Will maintain the exchange rate of the yuan at ‘basically stable’ levels,” said People’s Bank of China (PBOC) Vice Governor Liu Guoqiang during the weekend. The policymaker added, “Trend of the exchange rate will be decided by supply and demand along with changes in international financial markets.” FX reaction… Although the news should assure fewer

Gold price retested three-month highs of $1890, although settled the week near $1880 levels, registering the third straight week of gains. Gold price remained undeterred by the FOMC minutes, which offered subtlest hints on tapering, as growing inflation risks continued to support the traditional inflation hedge. Further, persistent weakness in the US dollar and the

Bitcoin tumbles again as China intensifies crackdown Equity markets fall modestly on Friday as big tech retreats but data remains supportive Fed now flips from behind the curve to thinking about being ahead  A tumultuous week but not on Wall Street. Crypto and in particular Bitcoin was the narrative spreading across trading screens this week

The Swiss National Bank (SNB) Chairman Thomas Jordan made some comments on the monetary policy outlook and exchange rate value, in an interview with Swiss daily Neue Zuercher Zeitung on Saturday. Key quotes “The franc remains highly valued.” “Inflation is only slightly above zero.” “Productive capacities are not fully utilized in Switzerland.” “Against this background,

GBP/USD drops toward 1.4150 as the US dollar strengthens on economic data Cable retreats from monthly highs, turns negative for the day. US dollar rises across the board supported by US economic data. The GBP/USD dropped to 1.4153 amid a rally of the US dollar across the board. Cable retreated sharply after hitting at 1.4233

Alvin Liew, Senior Economist at UOB Group, assesses the FOMC minutes of the April 27-28 meeting (Wednesday). Key Quotes “The key highlight of the 27-28 April FOMC policy meeting minutes was a number of the participants “suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at

GBP/USD Forecast: Recovering from the Fed? Not so fast, as sterling faces UK reopening risks Freedom Day may be less free than anticipated – The UK may dilute plans to relax COVID-19 rules on June 21 due to worries about the India variant. While the number of people infected with the  B.1.617.2 strain of coronavirus

EUR/JPY corrects lower from recent 2021 peaks near 133.50. Further downside should see contention in the 131.00 area. EUR/JPY recedes further following Wednesday’s new YTD tops in the 133.50 region. While the ongoing knee-jerk is seen as corrective only, it is expected to meet initial support in the 131.00 neighbourhood, or May lows. A breach

GBP/USD Forecast: Sterling exits overbought conditions, ready to rally with some Fed fuel GBP/USD has been retreating as the US dollar gains some ground. Britain’s progress against the virus and the Fed’s dovishness could push it to higher ground. Wednesday’s four-hour chart shows that cable is out of overbought conditions. Using the previous resistance line as

Eurozone inflation arrives at 1.6% YoY in April. Monthly CPI in the bloc rises by 0.6% in April. EUR/USD keeps its recovery mode intact around 1.2220 on the data. According to Eurostat’s final reading of the Eurozone CPI report for April, the consumer prices came in at 1.6% on a yearly basis, meeting the flash estimate of 1.6%

NYSE:CCIV kept advancing on Tuesday amid merge progress. Lucid CEO, under pressure from Elon Musk, responds. Lucid Air vehicles are making appearances around the world as the company ramps up its marketing. Close update: Churchill Capital Corp IV (NYSE:CCIV) has closed Tuesday at $19.38, adding 5.84% to its latest rally. Despite the sour tone of Wall

EUR/USD finally surpasses the key 1.2200 barrier on Tuesday. The sell-off in the dollar forces DXY to break below 90.00. EMU flash Q1 GDP figures next of relevance in the euro docket. The buying pressure around the single currency remains well and sound for yet another session and lifts EUR/USD to fresh 3-month peaks beyond

GBP/USD Forecast: Sterling set to benefit from UK reopening and global cooldown GBP/USD has been trying to find its feet after falling last week. Concerns about global growth could keep the dollar depressed. Optimism about the UK’s reopening may push sterling higher. Tuesday’s four-hour chart is painting a mixed picture. The latest round of easing has