FX

Key points Target stock soared 16% on Wednesday amid impressive Q2 financial results. The firm also raised its guidance for the remainder of FY24. We examine how investors should interpret these developments. Target (NYSE: TGT) stock jolted 16% higher on Wednesday morning on the heels of second-quarter 2024 earnings beat and guidance raise. The big-box

EUR/USD drove further into fresh highs for the year on Wednesday. FOMC looks more likely to lean into September rate cuts after Meeting Minutes release. EU, US PMI figures still loom ahead on Thursday, as well as Jackson Hole. EUR/USD pushed further into the high end on Wednesday, breaching 1.1150 and finding fresh 13-month highs

Gold price shot to a fresh all-time peak on Tuesday amid dovish Fed-inspired USD selling bias. Geopolitical tensions further contributed to driving flows towards the safe-haven XAU/USD. Bulls take a pause and await more cues about the Fed’s rate-cut path before placing fresh bets. Gold price (XAU/USD) extends its sideways consolidative price move above the

The JPY has been on a wild ride in recent weeks, gaining over 14% against the US Dollar (USD) in just 18 trading days before retreating about 4% to stabilize around 147. Structurally, we continue to expect a weaker JPY, albeit now from a higher level, Commerzbank’s FX strategist Volkmar Baur notes. USD/JPY to strengthen

Gold prices remained broadly unchanged in India on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 6,745.44 Indian Rupees (INR) per gram, broadly stable compared with the INR 6,747.60 it cost on Monday. The price for Gold was broadly steady at INR 78,677.54 per tola from INR 78,702.68 per tola

NVDA Elliott Wave Analysis Trading Lounge Daily Chart, NVIDIA Corp., (NVDA) Daily Chart  NVDA Elliott Wave Technical Analysis FUNCTION: Trend  MODE: Impulsive  STRUCTURE: Motive  POSITION: Intermediate wave (5).  DIRECTION: Upside in wave (5).  DETAILS: We are looking at a bottom in wave (4) which also ended near the area of the previous 4, very common EW tendency. Looking for further upside as we broke above

Gold prices fell in Pakistan on Monday, according to data compiled by FXStreet. The price for Gold stood at 22,319.55 Pakistani Rupees (PKR) per gram, down compared with the PKR 22,382.65 it cost on Friday. The price for Gold decreased to PKR 260,335.10 per tola from PKR 261,066.80 per tola on friday. Unit measure Gold

NZD/JPY mildly rose to 89.30, testing the 20-day SMA. The RSI is near 50 while the MACD shows flat green bars, signaling that the momentum is sideways. A jump above the 20-day SMA would confirm a bullish outlook. The NZD/JPY pair gained ground in Friday’s session, climbing to 89.30. The uptick follows side-ways movements during

USD slid following the University of Michigan Sentiment figures and housing market data. Markets remain confident about a cut in September. Greenback might continue being sensitive on data releases. On Friday, the US Dollar (USD), as measured by the US Dollar Index (DXY), experienced a decline following the release of the University of Michigan’s Consumer

AUD/USD shows an increase, climbing to 0.6950. RBA’s Bullock was on the wires and maintained its hawkish stance. A weaker USD also benefited the Aussie. The AUD/USD pair experienced an increase of 0.40% during Friday’s session, settling near 0.6950. Mixed sentiment data from the United States combined with the words of Reserve Bank of Australia’s

3M Company with ticker MMM was trading in a larger A-B-C correction within a higher degree wave IV for the last 5 years, but we have been warning about strong support with equal wavelength of waves A=C already back in 2023. MMM Weekly Chart from June 2023 As you can see now in 2024, we

Large-scale CTA buying activity may have supported Platinum markets last session, but signs of buying exhaustion could now morph into selling activity, TDS Senior Commodity Strategist Daniel Ghali notes. Palladium may still jump higher “Prices will now have to rally towards $995/oz to keep CTAs from shedding some of their recently added length, and a big downtape

GBP/JPY edges lower as the economic growth in Japan raises bets of a further rate hike by the BoJ. The risk-sensitive GBP receives support from the improved risk sentiment following US Retail Sales. UK Retail Sales are expected to increase by 0.5% and 1.4% for MoM and YoY for July, respectively. GBP/JPY breaks its four-day

The Mexican Peso reclaimed higher ground against the US Dollar on Thursday. The Greenback sold off after Retail Sales surged in the US. Markets still see a September Fed rate cut, but strong Retail Sales shed slowdown fears. The Mexican Peso (MXN) climbed three-quarters of a percent against the US Dollar (USD) on Thursday after

Gold prices rose in Pakistan on Thursday, according to data compiled by FXStreet. The price for Gold stood at 22,001.03 Pakistani Rupees (PKR) per gram, up compared with the PKR 21,951.61 it cost on Wednesday. The price for Gold increased to PKR 256,617.70 per tola from PKR 256,039.30 per tola a day earlier. Unit measure

EUR/GBP rose to 0.8580, overcoming a key resistance level. Softer UK inflation data suppressed Pound Sterling during Wednesday’s session. Markets are strongly considering a cut in September by the BoE. Wednesday saw the EUR/GBP pair rise towards 0.8580, with softer-than-expected inflation data from the UK weighing on Pound Sterling. This contrasts Tuesday’s movements, when the strength

The Japanese Yen gains ground due to safe-haven flows amid Middle East tensions. Japan’s parliament will hold a special session to discuss the BoJ interest rate hike last month. Downbeat US PPI data have boosted the odds for a larger Fed rate cut in September. The Japanese Yen (JPY) extends its gains against the US

The Mexican Peso treaded water on Tuesday following Monday’s 1.2% backslide. Banxico recently delivered a rate cut despite an uptick in headline inflation figures. Mexico’s central bank expects inflation bump to smooth out. The Mexican Peso (MXN) held close to flat on Tuesday, paddling around 19.00 as Peso traders find their balance following a 1.2%