FX

Share: Canadian Dollar back into recent lows as Crude Oil prices tumble on Friday. Canadian GDP missed market expectations, economic growth came in flat. USD/CAD etches in a new high for the week as CAD slips, US Dollar recovers. The Canadian Dollar (CAD) saw both a new high and a new low against the US

Share: The GBP/USD initially rose on Friday, but got knocked lower as the market broadly swept back into the US Dollar. The US Dollar index caught a late bid to push back into the middle to close out the trading week. Recession risk is still quite high in the UK, capping Pound Sterling bids. The

Share: Mexican Peso finished the week on a lower note against the US Dollar. Mexico’s inflation rate will be the highlight of the economic agenda for the next week. USD/MXN could turn sideways after Banxico is determined to hold rates higher to curb inflation. The Mexican Peso (MXN) held to its gains vs. the US

Share: Nike beat earnings consensus for FQ1 results. The quarter ending in August witnessed better pricing power. Nike earned $0.94 per share on revenue of $12.94 billion. NKE stock has conquered the 21-day SMA, signaling a new uptrend. August PCE data shows core inflation slowing its growth trajectory. Nike (NKE) stock has surged over 9%

Share: Economists at Wells Fargo analyze the Mexican Peso (MXN) outlook. Mexican Peso to weaken in the months ahead While we expect the Mexican Peso and Peruvian Sol to weaken in the months ahead, sound underlying fundamentals and more cautious central banks should limit the extent of Peso and Sol weakness. In the case of

Share: EUR/USD fails to attract any follow-through buying and oscillates in a range on Friday. Bets that any further ECB rate hikes may be off the table act as a headwind for the Euro. The prospects for further policy tightening by the Fed underpins the USD and cap gains. Traders now look to the Eurozone

Share: Pound Sterling advances to 1.2200 as the risk appetite of the market participants improved. The UK economy is likely to continue to face the wrath of high inflation and slowing demand. High inflation and slowing labor demand could trigger stagflation risks in the UK economy. The Pound Sterling (GBP) recovered to near 1.2200 after

Share: GBP/USD builds on the overnight bounce from a multi-month low and edges higher on Thursday. The USD take a brief pause after rising to a fresh YTD peak and lends some support to the major. The divergence Fed-BoE policy outlook might continue to act as a headwind and cap the upside. The GBP/USD pair

Share: Gold price faces an intense sell-off as Fed’s hawkish stance strengthens the US Dollar. The US economy has remained resilient on the grounds of a tight labor market and robust household demand. Investors await the US Durable Goods Orders to put some light on the manufacturing sector’s outlook. Gold price (XAU/USD) hits a fresh

Share: The GBP/JPY consolidated in the back half of Tuesday trading, pinned to the low side just above 181.00. The Guppy is down from Tuesday’s opening bids near 181.80. Broader market risk appetite burst into flames on Tuesday, but Yen traders are leery ahead of Japan inflation figures. The GBP/JPY is down nearly 80 pips

Share: Oil (WTI) slides lower and starts flirting with first important support near $88.  The US Dollar value keeps increasing as markets price in a  possible persistent rate differential between USD and  other  currencies. Higher Oil prices have negative implications even  for Oil producers. Oil prices drop for a second day in a row, with US

Share: A major credit agency, Moody’s said on Monday that the US government shutdown would harm the country’s credit. A severe warning comes only one month after Fitch downgraded the United States by one notch due to a debt ceiling crisis, per Reuters.  Key quotes “A shutdown would be credit negative for the US sovereign,” 

Share: Pound Sterling remains delicate on stubborn inflation and weak demand outlook The Pound Sterling (GBP) faces selling pressure as investors start worrying about the United Kingdom’s weak economic outlook and upside risks to inflation on Albion’s shores. The GBP/USD pair came under severe pressure after an unexpected pause in the policy-tightening spell by the

Share: US consumer spending continues to defy expectations for it to falter in the face of the US central bank’s stiff interest rate increases. Minneapolis Federal Reserve President Neel Kashkari said on Friday, per Reuters. Key quotes “I would have thought with 500 basis points or 525 basis points of interest rate increases, we would

Share: S&P 500 concluded the week at 4,320.06, marking a 0.23% daily and a 3.02% weekly drop, reaching levels last seen in June, with Nasdaq and Dow Jones also incurring losses Federal Reserve’s decision to hold rates but revise upward projections for the Federal Funds rate for 2023 and 2024 spurred a sharp reaction in

Share: The EUR/GBP made a late-week break for the 0.87 handle. The Pound Sterling continues to give up ground after a dovish BoE shrank from rate hikes, EU PMI figures came in mixed, keeping Euro gains restrained. The EUR/GBP stretched for the 0.8700 major handle in Friday trading, closing the week with over a full

Share: Next week, markets will continue to digest the outcomes of recent central bank meetings. Additionally, market participants will closely monitor the release of economic data, with a particular focus on inflation figures from the Eurozone and the US Core Personal Consumption Expenditure (PCE) index. Here is what you need to know for next week: 

Share: AUD/USD is up 0.51%, benefiting from the overall weakness of US Dollar. Despite hawkish remarks from various Fed officials, the US Dollar remains subdued, with the DXY showing modest gains at 105.55. Solid PMIs in Australia and considerations of rate hikes by the RBA support the AUD. Key economic data scheduled for release next