FX

USD/CAD trades with mild losses around 1.3670 in Wednesday’s early Asian session.  US Retail Sales held steady in June, followed a 0.3% increase in May, in line with expectations. The cooler-than-expected Canadian CPI triggered expectations of another rate cut by the BoC next week. The USD/CAD pair trades in a negative territory near 1.3670 during

The Mexican Peso has lost ground in its major pairs after the assassination attempt on Donald Trump.  Trump’s poll ratings improved after the incident and if he wins the election he is likely to bring in trade tariffs.  USD/MXN is showing signs of reversing its recent decline from the June highs.  The Mexican Peso (MXN)

AUD/JPY slips towards 106.90, breaching the 20-day SMA support. A bearish sentiment is projected for the next few session, continuing the downtrend from last week. In Monday’s trading session, the AUD/JPY pair noted a further decline of 0.15% to fall to 106.90. This continues the observable trend from last week Thursday’s session which saw a

Gold price gains above $2,400, driven by growing speculation for Fed rate cuts in September. Softer-than-expected US inflation for June indicated that price pressures are on course to return to 2%. Investors await Fed Powell’s speech and the US Retail Sales data for June. Gold price (XAU/USD) rebounds above $2,400 in Monday’s European session after a modest correction

AUD/USD weakens near 0.6770 in Monday’s early Asian session.  US PPI climbed more than expected in June on a margin pickup at service providers.  The RBA’s hawkish stance might support the Aussie in the near term. The AUD/USD pair trades on a weaker note around 0.6770, snapping the four-day winning streak during the early Asian

AUD/USD remains at highest level since January near 0.6800. Hot PPI data didn’t stop the pair in its upward trend. Monetary policy divergence between RBA and Fed stir the pair. The Australian Dollar (AUD) upheld its positive trajectory against the USD in Friday’s session, rising by 0.30% to 0.6780. The AUD resumed its gains with

Gold price sticks to key support level, set for third consecutive weekly gain on Fed rate cut expectations. US PPI rises above estimates; University of Michigan Consumer Sentiment drops, inflation expectations moderate. CME FedWatch Tool indicates 94% chance of September rate cut; US Dollar Index falls over 0.40% to 104.09. Gold’s price clung above $2,400

US Dollar continues losing ground in light of weak CPI figures and UoM data. Markets still foresee a September rate cut. Despite hot PPI data, US Treasury yields are falling, diminishing allure of USD. The US Dollar Index (DXY) remains weak on Friday, sitting at April lows. This is largely a response to the soft

QuantumScape stock rises another 17% on Friday, following Thursday’s 30% run. Wall Street cheers on battery maker, loves capital-light strategy. NASDAQ, S&P 500 advance further after June CPI falls. Volkswagen could end up producing QuantumScape batteries for as many as 1 million vehicles annually. QuantumScape (QS) stock is refusing to fade on Friday after its 30% Thursday

A hold is widely expected for the July ECB meeting. The meeting will not offer much action for the Euro (EUR), and we’re biased towards a weaker EUR, TDS macro strategists note. FX portfolios are biased towards a weaker EUR “A hold is widely expected for the July meeting, in line with ECB speak and

Gold skyrockets above $2,400 after softer US CPI sparks hopes for Fed rate cuts in 2024. US 10-year Treasury yield drops 10 basis points to 4.187%, boosting Gold’s appeal. CME FedWatch Tool shows 85% odds for September rate cut; US Dollar Index falls to 104.48. Gold prices skyrocketed sharply during Thursday’s North American session after

Silver price’s upside remains capped near $31.00 with a focus on the US Inflation. The US Dollar remains on the backfoot amid firm Fed rate-cut bets. Fed Powell sees cracks in US labor market strength. Silver price (XAG/USD) consolidates in a tight range for the last four trading sessions. The upside in the Silver price

AUD/NZD witnessed a significant rise to 1.1090, to multi-year highs. The RBNZ kept rates steady at 5.5%, signaling a willingness to ease sooner rather than later. RBA and RBNZ policy discrepancies might favor the AUD. On Wednesday, the AUD/NZD rose to a fresh high since 2022, in reaction to the Reserve Bank of New Zealand

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The NZD/JPY sees a slight rise, inching towards 98.80. Bulls keep getting rejected by the 99.00 area. Immediate supports are poised at 98.00 and 97.70, as likely areas for possible downward corrections. In the Tuesday trading session, the NZD/JPY pair exhibited a minor uptick, hovering near the 99.00 mark. However, it seems to have hit

Jerome Powell’s testimony in the US Congress will be a top-tier market-moving event this week. New clues on the Federal Reserve interest rate path are awaited. US Dollar, stock markets, and other asset classes could see big swings with the Fed Chair’s words.  Jerome Powell, Chairman of the US Federal Reserve (Fed), will deliver the

Dow Jones found early highs before settling back into the low end. New trading week kicks things off with a breather after Friday’s NFP. US consumer and wholesale inflation figures are due this week. The Dow Jones Industrial Average (DJIA) whipped on Monday, briefly testing fresh highs and breaking out of Friday’s tight churn before

Instead of declining further, the US Dollar (USD) is more likely to trade in a 7.2800/7.2970 range, or at least in a wider range between 7.2700 and 7.3100, UOB Group analysts note. USD/CNH can fall to 7.2700 24-HOUR VIEW: “While we expected USD to decline further last Friday, we were of the view that it