FX

Share: The two-day BOJ meeting concluded with an unexpected adjustment to the Yield Curve Control. Germany’s Inflation data came in line with expectations of 6.5% but lower than the previous 6.6%, and Q2 GDP data disappointed. Ueda’s dovish tone weights on the Yen. At the time of writing, the EUR/JPY pair is trading near the 155.50

Share: Thursday proved a bad day back in the office for EUR/USD. Economists at ING analyze the pair’s outlook. ECI to the rescue The ECB press conference proved a negative for the Euro as ECB President Lagarde backed away from a September rate hike and seemed to acknowledge both softer activity data and welcome disinflation.

Share: GBP/JPY sells-off on BoJ sentiment ahead of Friday’s meeting. GBP/JPY drops into a potentially strong area of support in the 177.70/90s as per the hourly structure. Bears also eye the Point of Control near 177.00 and then a swing support area at 176.50.  GBP/JPY collapses on a strong hint from Nikkei news that the

Share: Silver scales higher for the third straight day and climbs to a fresh weekly high on Thursday. The technical setup seems tilted in favour of bulls and supports prospects for further gains. A sustained break below the $24.00 mark is needed to negate the near-term positive bias. Silver gains strong follow-through positive traction for

Share: The Fed hiked rates by 25 bps as expected to 5.25-5.50%, its highest in 22 years. All eyes are now on ECB’s decision on Thursday, expected to deliver a 25 bps hike. The EUR/USD is trading positive after 6 consecutive days of losses, precisely at 1.1090 and 0.37% gains during the session. As expected,

Share: Further decline could drag USD/CNH to the 7.1240 level in the short term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: We expected USD to edge lower yesterday. However, we were of the view that “any decline is unlikely to break 7.1500.” We did not

Share: Sterling moved out of consolidation in the later part of the New York morning and is finding demand at a daily support area on the charts. However, at 1.1900, the pair is remaining precariously close to recent trend lows ahead of Wednesday’s expected Fed 25bp hike. Read More… The Pound Sterling (GBP) struggles to

Share: Silver price gains traction and holds above $24.55 on Tuesday. XAG/USD holds below the 50- and 100-hour EMAs with a downward slope. Immediate resistance is seen at the $24.60-$24.65 zone; $24.30 acts as an initial support level. Silver Price (XAG/USD) recovers some lost ground and snaps three days of consecutive losses heading into the

Share: GBP/USD extends its downtrend to seven consecutive days amidst mixed economic data from the United States (US), while further deterioration in the United Kingdom (UK) economy paints a gloomy scenario as the Bank of England (BoE) struggles to curb high inflation. At the time of writing, the GBP/USD is trading at 1.2831 after reaching a high

Share: USD/CHF grinds near intraday high, reverses Friday’s U-turn from one-week high. CFTC data suggests bearish US Dollar bets jump to record high. US statistics flag fears of Fed policy pivot despite lifting greenback from 15-month low in the last week. First readings of US S&P Global PMIs for July will direct intraday moves, Fed

Share: S&P 500 corrective mode following TSLA, NFLX earnings and Thu manufacturing plus unemployment data, continued Friday – too early yet to call this correction as over as the encouraging open had been eventually sold into. It‘s all about Fed tightening bets meeting soft landing estimates. Well, what estimates I say when LEIs are still

Share: USD/JPY bears are waiting to make the move. Bears eye key resistance near a 61.8% Fibonacci, but note higher prospects. The yen dropped against the dollar on Friday after Reuters reported the Bank of Japan (BoJ) is leaning toward keeping its key yield control policy unchanged next week. We have seen a range of

Share: EUR/GBP fails to decisively break above the 100 and 200-day EMAs at 0.8664 and 0.8679, respectively, after hitting a two-month high at 0.8700. If EUR/GBP pulls back, support levels emerge at 50-day EMA at 0.8619, 0.8600, 20-day EMA at 0.8594, and July 10 high at 0.8584. A break above 0.8700 will set sights on

Share: Mullen stock falls sharply at end of week. Volume is tapering off for MULN over past 10 sessions. Mullen to hold event in Mississippi for first production of Mullen Three. Bollinger Motors is also releasing its B4 cab chassis. Mullen Automotive (MULN) stock is selling off by 6% on Friday, despite a generally advancing market. The

Share: Japan’s Consumer Price Index (CPI) for June reports a YoY increase of 3.3%, slightly above the previous 3.2% figure, but falls short of the anticipated 3.5%. Reuters report on BoJ’s monetary stance causes USD/JPY to break away from the 140.00 range seen through most of the Asian session. The USD/JPY uptrend could continue based

Share: Economists at Commerzbank analyze EUR/CZK outlook. EUR/CZK to drift lower through H2 2023 We expect EUR/CZK to drift lower through H2 2023 as inflation as well as the real economy moderate. CNB, however, will likely maintain monetary policy status quo despite such a downturn. If inflation were to moderate from current 11% level towards

Share: The XAG/USD dropped more than 1% on Thursday below the $25.00 mark. US Jobless Claims in the second week of July came in lower than expected. Rising US Treasury yields weight on the precious metals. The XAG/USD Silver spot price dropped towards the $24.80 area, recording 1.28% losses on Thursday amid a recovery of

Share: Nasdaq futures are down this morning, by about 0.50% at the time of writing, after the afterhours trading session was shaken by results from two US tech giants: Tesla and Netflix. For both there was good and less good news.   Tesla’s price cuts that boosted sales and got the company to sell almost