FX

The US Dollar rallies on all fronts, with antipodes as outliers.  Markets are trembling with fear after the EU election result forced Macron to call for snap elections.  The US Dollar Index pops above 105.00 and hits a fresh four-week high.  The US Dollar (USD) edges higher and extends its rally on Monday following upbeat

Indian Rupee trades flat on Monday amid the stronger US Dollar.  The lower bets on the Fed rate cuts and Indian foreign outflows might underpin the pair.  The Indian and US Consumer Price Index (CPI) for May will be due on Wednesday.  Indian Rupee (INR) trades on a flat note on Monday despite the rebound

Kiwi’s grip loosens against the Yen on Friday, moving towards the 20-day SMA. The cross cruises through a consolidation phase while the stance of the bear is strengthening. Defense around the 20-day SMA starts showing signs of weakness, hinting at potential declines. On Friday, the NZD/JPY pair faced selling pressure, with the cross declining towards

Gold falls to multi-week low after US labor market data exceeds expectations. China’s People’s Bank halts 18-month Gold buying spree, exerts downward pressure on XAU/USD. US Treasury yields surge with the 10-year yield up to 4.43%, bolstering the Greenback and pushing Gold’s price lower. Traders eye US inflation data and Fed policy meeting next week.

Gold price declines after the release of US Nonfarm Payrolls data for May, shows a higher-than-expected change in employment. Gold was already trending lower after data unveiling PBoC reserves showed no change in May compared to April.  Short-term technical picture remains volatile as Gold whipsaws higher and then lower.  Gold (XAU/USD) falls over half percentage point

USD maintains its momentum, rising by more than 0.70% on Friday. US Nonfarm Payrolls exceeded market expectations in May, showing a robust recovery in the labor market. September odds fall for a Fed rate cut as positive economic signals abound. On Friday, the US Dollar Index (DXY) expanded its winning streak following stronger-than-forecasted labor market

EUR/USD declines from 1.0900 as upbeat US NFP report for May boosts US Dollar’s appeal. The US NFP report suggests that labor market conditions have tightened further. The ECB commenced its policy easing campaign but refrained from committing to a predefined interest-rate path. EUR/USD witnesses an intense sell-off and drops to near 1.0820 in Friday’s New York session as the

The Australian Dollar remains steady ahead of a speech from RBA Deputy Governor Andrew Hauser on the economic outlook. The Australian equity market appreciates with higher mining and energy stocks due to stronger commodity prices. China’s Trade Balance could slightly increase to $73.00 billion in May, from the previous balance of $72.35 billion. The US

The US Dollar falls further after ECB’s hawkish rate cut. Markets also see weekly Jobless Claims tick up The US Dollar Index barely above 104.00 after paring gains on Wednesday.  The US Dollar (USD) edges lower on Thursday as markets see the the European Central Bank (ECB) issuing a policy rate cut by 25 basis points, though

Gold price advances to a two-week top amid the emergence of fresh USD selling.  Rising Fed rate cut bets keep the US bond yields depressed and weigh on the buck. Traders look to the US jobless claims for some impetus ahead of the NFP on Friday.  Gold price (XAU/USD) attracts some follow-through buying for the

The Bank of Canada (Boc) matched consensus and reduced its policy rate by 25 bps to 4.75% at its event on Wednesday. [embedded content] In the statement, the bank argued that with ongoing evidence that underlying inflation is easing, monetary policy no longer needs to be as restrictive. In additon, three-month measures of core inflation

The Australian Dollar appreciates after the release of the lower-than-expected GDP data on Wednesday. Australia’s GDP grew 0.1% QoQ in the first quarter, falling short of the expected 0.2% reading. The US Dollar could rebound due to the higher US Treasury yields. The Australian Dollar (AUD) gains ground, possibly due to improved risk sentiment on

09EUR/USD falls from 1.0900 as the US Dollar steadies but remains feeble due to firm Fed rate-cut prospects. Traders raise Fed rate-cut bets amid fears of slower US economic growth. The ECB is due to announce June’s monetary policy decision on Thursday. EUR/USD slumps from the round-level resistance of 1.0900 in Tuesday’s American session. The major currency pair faces pressure

Gold price fails to attract any follow-through buying despite a combination of supporting factors. Fed rate cut bets drag the USD to a nearly two-month low, but does little to lure XAU/USD bulls. Traders now look forward to this week’s important US macro data and key central bank event risks. Gold price (XAU/USD) struggles to

The meme stock craze is back, GameStop is higher by 75% at the start of the week, with AMC Entertainment also up nearly 30%. The driver of today’s move in GameStop was a Reddit post by Keith Gill, pertaining to showing a large position in GameStop call options. Those who play the meme stock game

China’s Caixin S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose from 51.4 in April to 51.7 in May, according to the latest data released on Monday. The reading beat the market consensus of 51.5 in the reported month. Key highlights (via Caixin) Production expands at most pronounced pace since June 2022. Fastest purchasing activity growth in

Broad-market risk appetite recovers on Friday as US PCE inflation eases. Canada saw a weaker-than-expected rebound in GDP. US PCE inflation cooled further, fueling rate cut hopes. The Canadian Dollar (CAD) is broadly higher on Friday, but gains are capped after softer-than-expected prints in Canadian economic data. Investor hopes for a September rate cut are

The daily RSI is pointing upwards, hovering around 70, but continuing red bars in the MACD show a trailing consolidation. On the hourly chart, indicators are neutral and reside in the positive terrain. The 20-day SMA at 169.00 serves as an important threshold for sellers. On Friday’s trading session, despite recent downside corrections, the EUR/JPY