FX

Share: The Dollar has entered a consolidative phase. Economists at ING analyze USD outlook. Consolidative phase For today, the focus will be on US housing starts and another batch of Fed speakers. Recent Fed speakers have barely moved the needle on expectations of the Fed policy cycle and instead, it has been the data doing

Share: BABA stock loses 9%, moving below $80. Revenue for the fiscal Q2 misses consensus by $230 million. Management decides against spinning off the cloud business for now. Alibaba issues a $1 annual dividend to holders of ADS shares. Alibaba (BABA) stock closed at $79.10, down 9.15%, on Thursday. The market did not appreciate the Chinese e-commerce leader’s

Share: The Euro regains the smile against the US Dollar. European stocks open Thursday’s session in a mixed tone. ECB President Christine Lagarde speaks later in the session. The Euro (EUR) manages to generate some upside traction against the US Dollar (USD), motivating EUR/USD to attempt a tepid bounce to the 1.0860 zone on Thursday. The

Share: The DXY index first declined to 104.00 and then recovered to 104.40. The headline and core PPI cooled down in October, while US Retail Sales declined but were lower than expected.  Investors seem to worry that strong economic activity data might weigh more than cooling inflation in the Fed’s eyes. The US will report

Share: The Dollar plummeted after a softer-than-expected US CPI reading. Economists at ING analyze USD outlook. Dollar slump looks overdone We still think a turn in activity data – more than the disinflation story – is needed to take the Dollar sustainably lower, and the move appears overdone also from a short-term valuation perspective. Today,

Share: The Canadian Dollar is getting a leg up as markets turn down the Greenback. Canada sees little of note on the data docket this week. Loonie traders aren’t out of the US data woods yet, US PPI and Retail Sales come tomorrow. The Canadian Dollar (CAD) is catching a bid thanks to a forecast

Share: Further upside momentum could lift USD/JPY to its next target of 152.50 in the next few weeks, according to UOB Group’s Markets Strategist Quek Ser Leang and Economist Lee Sue Ann. Key Quotes 24-hour view: We highlighted yesterday that USD “could edge higher to 151.15 before the risk of a more sustained pullback increases.” We

Share: The Canadian Dollar is adrift on a thin market at the start of the trading week. Canada’s Remembrance Day holiday has most provinces out of the office for Monday. The economic calendar is sparse this week, little Canadian data on offer. The Canadian Dollar (CAD) is finding little momentum in thin holiday markets, with

Share: Here is what you need to know on Monday, November 13: Financial markets started the new week in a calm manner, with investors refraining from taking large positions ahead of Tuesday’s key macroeconomic data releases. After closing the previous week in positive territory, the US Dollar (USD) Index holds steady slightly below 106.00 on

Share: The DXY index trades with mild losses at 105.80, closing a 0.70% weekly gain. Fed hawks revived USD strength during the week. UoM consumer sentiment data come in lower than expected. The focus shifts to next week’s inflation figure from the US from October. The US Dollar (USD) showed minimal movement on Friday. The

Share: The Euro has stepped higher against the Pound Sterling for five straight trading days. The EUR/GBP briefly saw a fresh six-month high on Friday. Economic data has mixed for both the EU and the UK, but the market’s hat tip goes to the Euro. The EUR/GBP wraps up another trading week just shy of

Share: The AUD/NZD has etched in a new weekly low at 1.0780 after a week of declines. The Aussie’s backslide comes after reaching a technical ceiling at 1.0940. Buyers to be pushed to the back end for next week if they can’t grab ahold of moving average barriers. The AUD/NZD has managed to hold on

Share: The USD/CHF is seeing a thin bounce for Friday, churning towards 0.9050. The pair is holding steady after falling into the median range near major moving averages. Up Next: On Tuesday, an appearance from SNB Chair Thomas Jordan, US CPI inflation. The USD/CHF is on the high side for the week after Federal Reserve (Fed)

Share: HSBC hands TSLA stock a Reduce rating and price target of $146. Tesla stock is consolidating right on top of $210 support level. HSBC analyst says too much of Tesla growth story comes at end of decade. President Joe Biden supports UAW attempt to unionize Tesla factories. Tesla (TSLA) stock is holding onto a

Share: Gold price trades with a mild negative bias through the first half of the European session.  Reviving Fed rate hike bets underpin the USD and weigh on the non-yielding yellow metal. Receding safe-haven demand contributes to the offered tone, though China’s economic woes may mitigate its losses. Gold price (XAU/USD) posted modest recovery gains

Share: During the Asian session, the Reserve Bank of Australia will publish its Monetary Policy Statement following Tuesday’s rate hike. The New Zealand BusinessNZ Manufacturing Index is due. Later in the day, the focus will shift to UK growth data and the University of Michigan Consumer Sentiment survey. Here is what you need to know

Share: Further decline looks on the cards for USD/CNH once sellers break below the 7.2700 level, argue Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group. Key Quotes 24-hour view: We highlighted yesterday that “there is a chance for USD to test 7.2700.” We also highlighted that “a sustained drop below

Share: During the Asian session, the Bank of Japan will release the Summary of Opinions. A critical report will be China’s inflation figures, which can impact market sentiment. Later in the day, the weekly US Jobless Claims report is due. Here is what you need to know on Thursday, November 9: The US Dollar posted