FX

Share: Natural Gas price recovers following the release of US inflation data which comes out lower than expected, weighing on the US Dollar.  Natural Gas had been trading flat-to-lower prior to the data on Friday due to greater-than-expected stockpiles in Europe. This largely eclipsed US data out on Thursday showing a fall in inventories last week.  Natural

Share: The XAG/USD jumped above $22.70, seeing more than 0.80% gains and is set to close a winning week. Core PCE declined to 4.6% YoY in May, lower than expectations. Following the data the USD and US bond yields retreated. The XAG/USD surpassed the $22.70 mark on Friday and registered an increase of over 0.80%.

Share: Economists at Crédit Agricole expect EUR/USD to experience downside pressure in the near term. However, the pair is set to recover toward 1.11 in the coming months. Near term downside risks for EUR/USD We see downside risks for EUR/USD from its current levels in the near term and project a recovery only going into

Share: Strong GDP and jobless claims data drive US Dollar, yet USD/CAD records marginal losses. Fed’s signal of two more rate hikes by year’s end boosts odds for a July rate hike to 87%. Traders anticipate upcoming GDP data and BoC outlook survey for clues on Canada’s economic health. USD/CAD registered minuscule losses on Thursday

Share: Economists at Commerzbank analyze ECB policy outlook and its implications for the EUR/USD pair. If no more steps are required there are no reasons to extrapolate yesterday’s EUR weakness The Italian government is already voicing furious criticism of the ECB rate hikes. However, we know that on the ECB board, the monetary policy ideas

Share: EUR/USD consolidates recent losses but lacks recovery momentum after snapping two-day winning streak. ECB’s Centeno recently prod policy hawks even as Lagarde & Company kept rate hike bias intact. Fed’s Powell advocates for two rate increases in 2023, rules out rate cuts. German inflation data, second-tier US statistics eyed for clear directions. EUR/USD struggles

Share: Economists at Wells Fargo continue to believe the best opportunities for currency strength and outperformance exist in emerging markets. The most attractive yield opportunities continue to be found in the emerging market We continue to believe the best opportunities for currency strength and outperformance exist in emerging markets; however, we have become slightly less

Share: EUR/USD pauses two-day recovery from the lowest levels in a fortnight amid cautious markets. ECB policymakers advocate higher rates, rule out rate cuts but German Bunds renew recession fears. US data will allow Fed Chair Powell to sound hawkish, suggesting pullback in Euro pair. ECB President Lagarde’s speech, second-tier German data also eyed for

Share: Today’s inflation data in Canada will be key to driving market expectations for the BoC’s July decision. Economists at ING analyze CAD outlook. Inflation numbers in focus Consensus is looking for a rather substantial slowdown in headline inflation from 4.4% to 3.4%, while the core measure should decelerate to around 4.0%. We are still

Share: AUD/USD stays defensive at the lowest levels in 13 days, grinds higher of late. US Dollar’s struggle to keep the buyers on board prod Aussie pair sellers. Upbeat US data, light calendar elsewhere joins mixed catalysts to restrict AUD/USD moves. US Durable Goods Orders, headlines surrounding China, Russia can entertain traders. AUD/USD skates on

Share: CAD rally stalls, losses should remain limited, in the view of economists at Scotiabank. The Canadian economy remains relatively robust For the first time since the start of June, factors may be pointing a little more clearly to the potential for some consolidation in recent gains. Still, the potential for CAD softness looks relatively

Share: Gold Price licks its wounds at the lowest levels in 3.5 months as risk-aversion amplifies. Geopolitical fears join hawkish Fed bets, growth concerns to weigh on XAU/USD price. Gold Price drops as mixed United States data versus downbeat figures from elsewhere underpin US Dollar demand. US inflation clues eyed for clear directions, multiple central

Share: NZD/USD bulls are looking for a break to the upside to test trendline liquidity.  All eyes are on the RBA meeting as per market correlations.  NZD/USD has been held below a key trendline resistance for a couple of years but it could be on the verge of a breakout to the upside. However,  the Kiwi

Share: The EUR/JPY found support at a low of 155.06 and then recovered to 156.60. European and German PMIs came in weaker than expected. Soft inflation figures and monetary policy divergence weights on the Yen. Despite initial losses, the EUR/JPY pair managed to regain ground, climbing from a low of 155.06 to 156.60 and closing

Share: Gold recovers, rising 0.69% to $1926.30, amid global recessionary fears and faltering US bond yields. A worldwide slowdown in business and manufacturing activity stokes investor concerns and drives a shift to safe assets. Market participants focus on Fed speeches for rate hike insights; current odds are 74.4% for a 25-bps hike in July. Gold

Share: Natural Gas continues its climb higher as hotter weather stokes demand for Gas to power air conditioning. Gas terminal closures and outages in Norway, Europe’s primary producer, further support prices.  Technicals are mixed with short-term rallies within a longer-term downtrend.  Natural Gas price continues its step recovery into the weekend. The commodity is supported

Share: Strategists at OCBC Bank discuss Brent Crude Oil outlook. Brent Crude Oil to trade in a range-bound manner in the near term We maintain our forecast for Brent Crude Oil prices to average ~$90/bbl this year implying higher Oil prices in the coming months.  That said, in the near term, we expect Brent Crude

Share: The NZD/USD reversed its course during the American session, falling from a high of 0.6222 to 0.6180. The US reported mixed mid-tier data. Chair Powell’s hawkish remarks during his second-day testimony before the US Congress boosted US yields. On Thursday, the NZD/USD cleared daily gains, which saw the pair jumping to a daily high