FX

Share: GBP/JPY surges to year’s high, up by 0.18%, amid positive market sentiment. Expectations of a dovish Fed and resolution of the US debt-ceiling imbue strength to high beta currencies. Despite the overall upward bias, the technical outlook suggests potential downside pressure on GBP/JPY. GBP/JPY climbed to fresh year-to-date (YTD) highs at 174.68 before a

Share: Oil price recovers for the second day after the debt-ceiling bill gets voted through by the US Senate.  The possibility of OPEC+ announcing more production cuts at its June 4 meeting further supports Oil.  The breakeven price for the Saudis is $80 a barrel despite Russia downplaying the need for cuts. Nonfarm payrolls beats

Share: Cable fell below the 20-day SMA toward the 1.2450 area. The US added 339k new jobs in May vs 190k expected. US bond yields increased as a reaction to the employment figures. The GBP/USD fell more than 0.50% to a daily low of 1.2453 at the end of the week, following robust labor market

Share: The BoE’s stance seems too hesitant, which is likely to weigh on the Pound in the coming quarters, economists at Commerzbank report. GBP weakness will probably continue next year as well The door remains open for further rate hikes, but the BoE is likely to hope that the upcoming data releases will give it

Share: NZD/USD is aiming to recapture 0.6080 as the USD Index is preparing for a fresh downside. US equities have managed to maintain Thursday’s bullish sentiment, portraying an upbeat market mood. Hopes of a recession and weak economic activities are supporting a pause in the Fed’s policy-tightening spell. The NZD/USD pair has moved to near

Share: Oil price recovers marginally after the House of Representatives votes through the debt-ceiling extension bill on Wednesday evening.  Gains are capped by higher-than-expected inventory levels from the API, suggesting ample supply.  Several Fed officials signal a “pause” may be appropriate at June meeting, though peak rate may be higher. Oil price trades flat in

Share: AUD/USD has pushed its recovery above 0.6500 after better than anticipated Caixin manufacturing PMI. The release of the Caixin Manufacturing PMI is widely diverged from China’s official Manufacturing PMI data. Higher expectations for one more interest rate hike from the Fed could keep the USD index in good shape. The AUD/USD pair has attempted

Share: Oil price spirals lower as traders deleverage ahead of the key vote to decide whether the US should raise its debt limit. A growing number of Republican Congressmen especially, have voiced their disapproval of the deal and said they intend to vote it down.  Poor factory data from China, Oil’s largests importer, shows stunted manufacturing

Share: AUD/USD portrays a volatile reaction to Australia inflation data, China activity numbers. Australia Monthly Consumer Price Index jumps to 6.8% in April, China’s officials PMIs ease for May. Market sentiment dwindles amid mixed signals from data, risk catalysts. US House of Representatives’ voting on measures to avoid default, JOLTS Job Openings eyed for clear

Share: CB Consumer Confidence Index declined modestly in May. US Dollar Index stays in positive territory above 104.00. Consumer sentiment in the US weakened slightly in May with the Conference Board’s Consumer Confidence Index edging lower to 102.3 from 103.7 in April (revised from 101.3). Further details of the publication revealed that the Present Situation

Share: NZD/USD picks up bids within three-day-old descending triangle. RSI’s rebound from oversold territory, bullish MACD signals suggest further corrective bounce of the Kiwi pair. Buyers to stay skeptical below 0.6250 resistance confluence. NZD/USD prints mild gains around 0.6050 inside a bullish triangle formation portrayed at the yearly low. In doing so, the Kiwi pair

Share: GBP/USD adds to Friday’s gains and retests the 1.2370/75 band. The greenback trades without direction near 104.20/30. Markets’ attention is expected to be on Friday’s US Payrolls. Despite the broad-based range bound theme in the global markets, GBP/USD manages to gather further upside impulse and revisit the 1.2370 region on Monday. GBP/USD looks at

Share: People’s Bank of China (PBOC) set the USD/CNY central rate at 7.0575 on Monday, versus previous fix of 7.0760 and market expectations of 7.0574. It’s worth noting that the USD/CNY closed near 7.0625 the previous day. “China central bank says to conduct 5 billion yuan 3-month central bank bill swap on May 29,” reported Reuters. “With 2

Share: NZD/USD bears eye a continuation below structure.  Bulls could be lurking at a key area of potential support.  NZD/USD remains on the backfoot following the Reserve Bank of New Zealand confirming it would ease mortgage loan-to-value ratio (LVR) restrictions from June 1. The technical outlook is bearish for the meanwhile, but there could be prospects

Share: Reuters reported that the US Treasury Secretary Janet Yellen spoke on Friday and extended the deadline for raising the federal debt limit, saying the government could default on its debt as early as June 5 without increasing the country’s $31.4 trillion debt ceiling. Yellen had previously put that date as in early June, or potentially

Share: US economic strength shown by the latest round of data raises prospects of a June Fed rate hike, boosting the US Dollar. Wall Street climbs despite a rise in Fed’s gauge for inflation, with Core PCE hitting 4.7% YoY. Rising US Treasury bond yields and Fed hawkish commentary could hurt Gold’s recovery. Gold price

Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite.  US Dollar corrects after strong rally, giving Oil a backdraught.   Oil price steadies on Friday after the previous day’s tumble, as

Share: US Dollar is abating a little bit against most G7 pairs after its big rally this week, awaiting a string of macroeconomic data this Friday. US debt-ceiling talks continue into Friday, Biden mentions possible spending freeze and denies default. US Dollar Index lets loose of 104 and retreats to 103.85  while awaiting US macroeconomic data in order