FX

In opinion of FX Strategists at UOB Group, EUR/USD is seen under pressure while below the 1.1980 level in the next weeks. Key Quotes 24-hour view: “Yesterday, we were of the view that the rebound in EUR ‘has room to extend but any advance is likely limited to a test of 1.1940’. While EUR advanced

AUD/USD lost its traction after climbing to 0.7750 area. US Dollar Index posts small daily gains around 92.00. Investors await 10-year US note auction at 1800 GMT. The AUD/USD pair advanced to a daily high of 0.7746 in the early trading hours of the American session but struggled to preserve its bullish momentum. With the

Gold stays depressed around intraday low, trims biggest gains since January. Receding strength of bearish MACD, sustained trading beyond 200-SMA favor buyers. Buyers need to stay cautious despite confirming the bullish chart pattern unless crossing $1,765. Gold remains pressured around $1,713, down 0.18% intraday, ahead of Wednesday’s European session. Although the bullion fades upside momentum

Is gold now replaying 2010-2012? The 2019-2021 gold chart is disturbingly similar to that of 2010-2012, but it does not have to be the harbinger of a bear market. Many ancient cultures saw history as cyclical. According to this view, society passes through repeated cycles. Can this apply to gold as well? I’m not referring

USD/CAD markets heaviest losses in one week, fades bounce off intraday low. Bearish MACD, sustained break of three-day-old support line directs bears toward 200-HMA. Descending trend line from Friday adds to the upside barriers. USD/CAD remains depressed near 1.2650, down 0.21% intraday, after breaking an upward sloping trend line from the last Thursday during early

GME shares rally sharply on Monday, up 30%. GME investors see Ryan Cohen leading its digital revolution. GME still the hottest retail stock for wallstreetbetts. Gamestop (GME) hasn’t gone away and as if to prove it is the king of retail stocks it shows back up on traders’ screens for a 30% gain and counting

GBP/USD stays depressed near three-week low, prints four-day losing streak. UK aims for gradual exit to lockdown, covid-led deaths drop to the lowest since October. UK’s Frost alleges Brussels of ‘ill will’ over Brexit. US Senate passed $1.9 trillion stimulus, Treasury yields stay firmer. GBP/USD holds lower ground near 1.3820, down 0.18% intraday, while heading

After an over 25-hour marathon of amendment voting, the US Senate passed President Joe Biden’s proposed massive $1.9 trillion COVID-19 stimulus bill on Saturday, per Bloomberg. Senate passed the relief bill with 50-49 votes after Democrats settled an intra-party dispute over unemployment aid. Additional takeaways “The American Rescue Plan Act, now heads back to the

Major indices whipsaw post the US Employment report on Friday. Nasdaq, S&P, and Dow all end Friday in positive territory. Nasdaq declines for the third straight week. Well what a session that was, indices close up near session highs, having posted a strong recovery in the second half of Friday’s trade. The US Employment report surpasses

PLTR sees whipsaw on Friday in a choppy session. PLTR has struggled for momentum, post Q4 results PLTR down nearly 50% from January highs. Update: Palantir shares finished the day on Friday nearly 3% lower but it could have been a lot worse. Markets bounced sharply from mid-afternoon lows as profit taking and bargain hunting in

NIO shares have fallen nearly 40% from January highs. NIO is a heavily favoured retail interest stock. NIO shares had a stellar rise in 2020. Update: Shares in NIO rode the volatile session on Friday as markets whipsawed following the US jobs report. NIO bounced from lows of $31.91 to close Fiday at $38.11 a loss

The real gross domestic product (GDP) in the United States is expected to grow by 8.3%, down from 10% on March 1, in the first quarter of 2021, the Federal Reserve Bank of Atlanta’s latest GDPNow report showed on Friday. “After Monday’s GDPNow update and subsequent releases from the US Census Bureau, the US Bureau of Economic Analysis and

Asian shares remain heavy as bond bears keep the reins. China eyes higher GDP growth, Italy stops Aussie vaccines and NZ recently eased Tsunami alert amid a light calendar. US employment figures, stimulus updates will be the key. Asian equities drift lower as reflation fears gain momentum despite Fed Chair Powell’s rejection and China’s attempt

FOMC Chairman Jerome Powell will be delivering his remarks on the US economy at the Wall Street Jobs Summit on Thursday, March 4, at 1705 GMT. Powell Preview: Three scenarios for the Fed to defuse the bond bonfire, market implications. “Calm before the storms – markets found some solace, but it hinges on new soothing

Gold Price Forecast: XAU/USD’s fate hinges on Treasury yields, Powell’s speech Gold (XAU/USD) reached fresh nine-month lows at $1702 amid a renewed uptick in the US Treasury yields, as the bond market turmoil resumed on Wednesday. Gold managed to recover some ground and finished the day at $1714, still losing significantly on a daily basis.

Crude oil markets trade higher on Wednesday, having so far shrugged off nerves being observed in US equity markets. WTI has been picking up following an initially choppy reaction to the release of eye-watering weekly EIA inventory data. Oil market participants now await more clarity on OPEC+ production plans. Crude oil markets trade higher on

Gold (XAU/USD) is consolidating its solid recovery from multi-month troughs on Wednesday, as the upbeat market mood weighs on the traditional safe-haven. The vaccine optimism seems to have helped the risk-recovery, especially after US President announced the US will have enough vaccine supply significantly sooner, which will cover all adults by the end of May.

CCIV is stabilizing around the $30 per share level. Lucid Motors and Churchill merger the hot topic of SPAC’s for 2021. PIPE transaction likely caused the sell-off. Update Tuesday, March 2: Shares in CCIV continue to trade around the $30 level having fallen sharply once details of the Lucid Motors merger became clear. The PIPE