FX

Share: AUD/JPY holds positive ground around 95.15 during the early European session on Friday. Chinese leaders agreed to set China’s 2024 growth target at around 5.0% and target a budget deficit of 3% of GDP in 2024. The report that the Bank of Japan (BoJ) might exit its negative rate policy sooner than expected lends

Share: Silver posts gains of more than 6% in the last couple of days, sponsored by a dovish Fed. US Treasury bond yields plunge continued for the second straight day. XAG/USD is upward biased in the near term but must reclaim $25.00 to challenge year-to-date (YTD) highs. Silver price climbs and reclaims the $24.00 figure

Share: Dow Futures (YM) has broken to new all-time high, suggesting the trend remains firmly bullish. It also suggests the next bullish cycle has started.  Short term, rally from 11.10.2023 low is currently in progress as a 5 waves impulse Elliott Wave structure. Up from 11.10.2023 low, wave ((i)) ended at 36337 and dips in

Share: Mexican Peso opens the session soft as traders trim positions awaiting Powell and Co. Prices paid by producers in the US cooled down, adding to the dovish narrative around the Federal Reserve. USD/MXN could aim towards 18.00 if the Fed delivers a hawkish message. Mexican Peso (MXN) weakened against the US Dollar (USD) early

Share: EUR/USD halts its two-day winning streak ahead of monetary decisions from both economies. Technical indicators suggest a potential revisit to the weekly low at 1.0741. A breakthrough above the 1.0800 level could lead the pair to reach the 14-day EMA at 1.0816. EUR/USD halts to continue a two-day winning streak ahead of the monetary

Share: Mexican Peso surpasses the 100-day SMA, prints two-day high. Mexico’s Industrial Production crushed the forecast, ahead of Banxico’s decision on Thursday. The Fed is expected to hold rates unchanged, but uncertainty looms about Powell’s speech. Mexican Peso (MXN) stages a comeback climb against the US Dollar (USD) following an inflation report in the United

Share: EUR/USD remains confined in a narrow trading band for the second straight day. The technical setup warrants some caution before placing fresh directional bets. Traders now look to the US CPI for fresh impetus amid dovish Fed/ECB pricing. The EUR/USD pair extends its sideways consolidative price move for the second successive day on Tuesday

Share: Silver continues to sink, after hitting $24.63, so far down 10.41% since last week. The XAG/USD is bearishly biased, with sellers eyeing $21.88. If Silver buyers reclaim $23.00, upside risks emerge with key resistance levels at the 100 and 200 DMAs. Silver price (XAG/USD) dives during the North American session, though it remains above

Share: Gold price remains under some selling pressure for the second successive day on Monday. Reduced bets for a March Fed rate cut move and a modest USD uptick weigh on the metal. Geopolitical risks could help limit further losses ahead of this week’s key data/event risks. Gold price (XAU/USD) fell over 1.5% intraday and

Share: The DXY Index rose above the 20-day SMA towards 104.05 and will close a 0.75% winning week. US NFPs from November accelerated, as did Average Hourly Earnings. The Unemployment Rate declined. US is set to report CPI inflation next Tuesday. The US Dollar (USD) continued to command the financial markets as it soared to the

Share: The GBP/JPY catches a soft bid to challenge 182.00 after a week of stubborn losses. The Yen surged on the week, bolstered by a hawkish BoJ. The Guppy heads into next week’s central bank showdown on the low side. The GBP/JPY eked out a small gain on Friday, finishing the day up a slim

Share: Mullen said its new spoofing complaint will replace its short-selling litigation announced in August. Law firm says spoofing litigation could amounts to “billions” in compensation. MULN trades lower for fourth consecutive session on Friday. Traders wait for December 15 shareholder vote on reverse split.   Mullen Automotive (MULN) stock lost ground for the fourth

Share: The Canadian Dollar follows a broad-market risk bid to higher ground on Friday. Economic data from Canada is thin on Friday, as well as all next week. Crude Oil takes a little off the top, paring back recent losses and helping to prop up the CAD. The Canadian Dollar (CAD) gained ground across the FX

Share: Mexican Peso recovers from around weekly lows, and reclaims the 100-day SMA. Mexico’s Producer Price Index was softer than estimated, keeping Banxico’s hopes of easing policy next year alive. US Nonfarm Payrolls in November were better than foreseen, in contrast to previously released jobs data. Mexican Peso (MXN) rallies against the US Dollar (USD)

Share: The Japanese Yen surged to a four-month top against the USD after BoJ Governor Ueda’s comments on Thursday. Rebounding US bond yields push the USD higher and assist USD/JPY to find support near the mid-142.00s on Friday. The divergent BoJ-Fed policy expectations keep a lid on any further recovery ahead of the crucial US

Share: Natural Gas faces downside as demand remains subdued while supply builds bigger by the day. Natural Gas prices could sinks to $2. The US Dollar snaps its three-day-winning streak after BoJ surprise comments.  Natural Gas (XNG/USD) is facing more downturn as the economic balance is shifting towards a supply surplus. All pipes are open and

Share: Indian Rupee loses traction on the renewed US Dollar buying. The markets anticipate the Reserve Bank of India (RBI) to maintain the status quo on the repo rate, leaving it unchanged at 6.5%. Investors await the US weekly Jobless Claims on Thursday ahead of the RBI rate decision and US Nonfarm Payrolls. Indian Rupee

Share: The Bank of Canada (BoC) opted to maintain its key interest rate at 5% on Wednesday, for the third consecutive decision, as widely expected. According to the BoC the latest data “suggest the economy is no longer in excess demand”. The tone of the statement hints at no rate hikes ahead.  The BoC said