FX

Share: People’s Bank of China (PBoC) set the USD/CNY central rate at 7.2076 on Thursday, versus the previous fix of 7.1986 and market expectations of 7.3047. It’s worth noting that the USD/CNY closed near 7.2990 the previous day. Apart from the USD/CNY fix, the PBoC also unveiled details of its Open Market Operations (OMO) while saying that the Chinese

Share: USD eases broadly versus the majors as DXY gains slow around 200-Day Moving Average. Economists at Scotiabank analyze Greenback’s outlook. USD to soften broadly in H2 The USD is trading generally softer so far today after four consecutive daily gains that have taken the DXY index to test its 200-DMA. That benchmark is holding

Share: USD/JPY oscillates in a narrow band around mid-145.00s on Wednesday. The Fed-BoJ policy divergence continues to act as a tailwind for the pair. Intervention fears cap any meaningful upside ahead of the FOMC minutes. The USD/JPY pair holds steady around mid-145.00s during the Asian session on Wednesday and remains well within the striking distance

Share: Retail Sales in the US rose 0.7% on a monthly basis in July to $696.4 billion, the data published by US Census Bureau showed on Tuesday. This reading followed the 0.3% (revised from 0.2%) increase recorded in June and came in better than the market expectation of 0.4%.  Retail Sales Ex-Autos rose 1% in the same

Share: USD/CAD gains momentum around 1.3460 amid USD demand. Investors expect that the Federal Reserve (Fed) will keep the interest rate unchanged in its next meeting. A decline in oil prices undermines the Canadian Dollar against the Greenback. All eyes are on the Canadian Consumer Price Index (CPI), US Retail Sales due later in the

Share: GBP buyers re-emerge in the high 1.26s. Economists at Scotiabank analyze Cable’s outlook. Technical signals shaded somewhat negatively for the GBP in the short run Sterling looks well-supported on the session so far but technical signals are shaded somewhat negatively for the GBP in the short run after the heavy selling pressure from the

Share: Silver Price licks its wounds after falling the most since mid-June. Nearly oversold RSI conditions join recently firmer MACD signals to prod XAG/USD bears. 200-SMA holds the gate for Silver buyer’s entry, previous support line from late June guards immediate recovery. Silver bears need validation from $22.00 to challenge yearly low marked in March.

Share: The EUR/JPY traded in the red below the 159.00 area after five consecutive days of gains. The cross closed Friday with 1.65% weekly gains, trading in highs since 2008.  Focus shifts to the Eurozone and Japan’s GDP for Q2, which will be released the following week. In Friday’s session, the EUR/JPY traded with losses,

Share: US Producer Price Index (PPI) surpasses estimates, bolstering the US Dollar as Treasury yields soar. Reserve Bank of New Zealand (RBNZ) is expected to maintain rates at 5.50%, adding pressure on the NZD. NZD/USD’s future hinges on US economic data and potential RBNZ rate surprises; 0.5900 level in sight. NZD/USD plunges below 0.6000, set

Share: Mullen Automotive initiated a 1-for-9 reverse split that begins trading at new post-split price on August 11.  MULN share price closed at $0.1130 on Thursday but opens Friday at post-split price. Mullen stock needs to remain above $1 for at least 10 consecutive trading sessions to remain in compliance with NASDAQ exchange rules. Mullen

Share: EUR/GBP retreated near 0.8630 after being rejected by the 100-day SMA at 0.8670. Q2 GDP data from the UK avoided stagnation, surpassing market expectations. Higher British yields help the Pound trade stronger against most of its rivals. In Friday’s session, the GBP traded with gains agains most of its rivals as the UK reported strong

Share: The recent price action denotes a reluctance to rotate away from the USD, in the view of economists at ING. Disinflation not enough for the bears The US remains on an encouraging disinflation track, but the Dollar is not turning lower. This is, in our view, due to a lack of attractive alternatives given

Share: Thursday’s mixed inflation data from the United States pleased a slew of Federal Reserve (Fed) policymakers but their tone appears slightly cautious. Firstly, Philadelphia Federal Reserve Bank President Patrick Harker crossed wires, via Reuters, and appeared supportive of the US central bank’s victory while marking the progress on inflation.  However, the policymaker also anticipated a minor

Share: USD/CAD is little changed on the session so far. Economists at Scotiabank analyze the pair’s outlook. Evidence of firm support on dips below the 1.34 area There is a modest, downside bias in spot trends on the intraday chart but there is also evidence of firm support on dips below the 1.34 area.  The

Share: Despite a brief touch at 183.01, the GBP/JPY remains anchored below the 183.00 psychological resistance. Key resistance lies at last week’s high of 183.24, and surpassing this could put YTD high of 184.01 into focus. Support levels to watch include the August 9 low at 182.36, Tenkan-Sen at 181.82, and an established support trendline

Share: Pound Sterling recovery sustains as central bank to keep rates elevated for longer The Pound Sterling (GBP) strengthens after hopes of more interest rate hikes from the Bank of England (BoE) are renewed. The GBP/USD pair discovers buying interest as the United Kingdom inflation is expected to remain well above 2% for the next

Share: GBP/USD fades bounces off one-month low, retreats from 10-DMA. Bearish MACD signals, previous support break joins firmer US Dollar to weigh on Cable pair. China, banking concerns fuel US Dollar and exert downside pressure on Pound Sterling. China inflation, risk catalysts eyed for clear directions. GBP/USD stays depressed near 1.2745 as it fades the

Share: EUR/JPY adds to Monday’s gains and approaches 158.00. Further north emerges the 2023 peak just past 158.00. EUR/JPY gathers extra pace and trades closer to the key 158.00 region on Tuesday. So far, the continuation of the upside momentum appears likely with the initial target still at the 2023 high at 158.04 (July 21).