FX

Canadian Dollar bolstered by rising market sentiment. Canada posted a 0.3% uptick in GDP, propping up CAD. US PCE inflation also ticked lower, further bolstering rate cut hopes. The Canadian Dollar (CAD) found some room on the high side on Friday, pushing up by a scant tenth of a percent against the US Dollar amid

Japan’s Chief Cabinet Secretary Yoshimasa Hayashi reiterated on Friday, noting that he “will take appropriate steps on excessive FX moves.“ Additional quotes Won’t comment on forex levels. Important for currencies to move in stable manner reflecting fundamentals. Rapid FX moves undesirable. Closely watching FX moves. Market reaction USD/JPY pays little heed to these comments, trading

Mexican Peso remains weaker despite positive economic data. Banxico expected to keep rates unchanged with Citibanamex survey indicating most economists forecast no rate cut until Q3 2024. US data shows higher than expected Q1 GDP, lower unemployment claims, and stronger Durable Goods Orders, boosting USD. The Mexican Peso prints minimal losses in early trading during

Here is what you need to know on Thursday, June 27: The Japanese Yen (JPY) recovers slightly after falling to its weakest level since 1986 against the US Dollar (USD) on Wednesday. The European Commission will release consumer and business sentiment data in the European session. The US economic docket will feature the final revision

Mexican Peso falls for second consecutive day against US Dollar. USD/MXN hits a daily high of 18.33 before trimming gains as Wall Street turns green. Banxico expected to keep interest rates unchanged at 11.00% amid sharp Peso depreciation and recent inflation spike. Fed Governor Michelle Bowman’s hawkish comments support USD. The Mexican Peso extended its

ASX: V300AEQ ETF UNITS – VAS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart). Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that wave 2-grey has ended and wave 3-grey is unfolding to push higher, sub waves are developing in the form of wave ((i)),((ii))-navy and have ended, Wave ((iii))-navy may be unfolding to push higher. ASX: VAS Elliott Wave technical analysis   Function: Major trend (Minor degree, grey).  Mode: Motive.  Structure: Impulse.  Position: Wave ((iii))-navy of Wave 3-grey.  Details: The short-term outlook shows that wave ((ii))-navy has just ended and it seems that wave ((iii))-navy is opening to push higher, while price must always maintain above 94.64 to maintain this outlook.  Invalidation point: 94.64.   ASX: VAS four-hour chart analysis Function: Major trend (Minute degree, navy).  Mode: Motive. Structure: Impulse.  Position: Wave c-grey of Wave (ii)-orange of Wave ((iii))-navy.  Details: The shorter term outlook shows that wave ((i))-navy has just ended at 94.64 and wave ((iii))-navy is unfolding, it is subdividing into wave (i)-orange and it’s over, now it’s time for wave (ii)-orange to open up to push a little lower, after which

The US Dollar recouped part of the ground lost following Monday’s negative session along with a decent bounce in US yields, while expectations for a Fed rate cut in September and December remained in place among investors. Here is what you need to know on Wednesday, June 26: The USD Index (DXY) left behind Monday’s

The Japanese Yen extended gains as Japan’s Yoshimasa Hayashi stated that authorities would respond appropriately to excessive currency volatility. The JPY appreciated as Japanese authorities spent billions of dollars on a Yen-buying intervention. CME FedWatch Tool indicates 67.7% odds of a Fed rate cut in September, compared with 61.5% a week earlier. The Japanese Yen

Canadian Dollar found room up top, bolstered by floundering Greenback. Canada to deliver update on CPI inflation on Tuesday. Risk appetite remains subdued as markets await signs of rate cuts. The Canadian Dollar (CAD) found some room on the high side on Monday, easing higher as the US Dollar softly receded across the board. Investors

The Japanese Yen may continue its losing streak as the US Dollar remains stronger due to the hawkish Fed. Japan’s Masato Kanda said to intervene in the FX market around the clock if necessary. The US Dollar edges higher as Fed officials keep delaying the timing of the first interest rate cut in 2024. The Japanese

Kiwi tallies a three-day losing streak, end the week on a negative note with the pair stabilizing at 0.6115. NZD/USD outlook continues to skew bearish as bulls fail to maintain upward traction. Bucking the bearish trend, a break above 0.6150, the position of the 20-day SMA, is vital. On Friday, the NZD/USD extended its losing streak

Australian Dollar has suffered extended declines in recent sessions as RBA gains slowly fade. PMI figures from Australia reveal weaker-than-expected data. Fragility in the Australian economy seems to be driving demand off the Aussie. In Friday’s session, the Australian Dollar (AUD) intensified its losses against its peers. The AUD/USD duo has been testing its notable

Gold reverses gains after hitting daily high of $2,368, down more than 1.70%. Strong US S&P Global PMI data boosts the US Dollar, with the DXY rising 0.14% to 105.80. Mixed US economic data keeps Fed rate cut speculation alive. Gold prices reversed course on Friday, moving down more than 1.70%. Economic data from the

Norges Bank kept rates steady at 4.5%, as expected. The bank is delaying the easing to Q1 of 2025. As long as the NB policy diverges with its peers the NOK might see further upside. On Friday, the USD/NOK recovered towards 10.575 and cleared most of Thursday’s losses. That being said, the NOK is holding

Central bank events in Europe gave the Dollar some support on Thursday, Francesco Pesole, FX Strategist at ING argues. DXY may trade closer to 106.00 “The surprise rate cut by the Swiss National Bank and a dovish hold by the Bank of England reinforced the notion that central banks in Europe are way ahead of the

The UK Retail Sales rebounded 2.9% MoM in May, a big beat. Monthly Core Retail Sales for the UK jumped 2.9% in May. GBP/USD holds gains above 1.2650 after upbeat UK data. The United Kingdom (UK) Retail Sales rebounded 2.9% over the month in May after falling 1.8% in April, the latest data published by the

US Dollar gets a boost from an increase in US Treasury yields on Thursday. Markets still show signs of caution as Fed officials express a conservative stance on embracing easing cycles. The mixed US economic outlook tempers upside in the Greenback. On Thursday, the US Dollar, as gauged by the Dollar Index (DXY), saw significant

Penny stocks, as they are called, are not really stocks that trade under $1 per share. The term generally refers to stocks trading below $5 per share. As any early investor in Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), NVIDIA (NASDAQ: NVDA) or other juggernauts will tell you, when you manage to correctly predict a future