FX

Share: The strong downtrend in USD/MXN continues as emerging market currencies advance against the US Dollar. USD/MXN eyes 17.5000 support; bullish potential remains limited, with key resistance at 17.9492 and 18.2263. The USD/MXN fell to fresh six-year lows of 17.7462, hit in the middle of the New York session even though the US economy revealed

Share: USD/JPY tests 50-day EMA at 133.85; bullish-engulfing pattern hints at a potential uptrend. Downside risks loom, with the 100-day EMA at 132.83 in sight if 134.00 support breaks. The USD/JPY rises after dropping to a weekly low of 133.50, advances 0.42%, spurred by buyers stepping in at around solid technical support level. An upbeat

Share: GBP/USD is sliding and forming a peak formation.  Bears are seeking a move down to test the 1.2620s. GBP/USD is being pressured to the downside in lunchtime NY trade and is taking on a support structure that could lead the way to a move into test the 1.2020s and lower for the remainder of the

Share: The Brazilian Real and the Mexican Peso benefited from the signal of a pause in US interest rates. Economists at Commerzbank expect both currencies to remain strong against the US Dollar. BRL and MXN remain attractive “Both central banks have been so hawkish of late that I think the Fed’s rate pause was a

Share: USD/CNH has witnessed a recovery move to near 6.9200 after Caixin Services PMI failed to match estimates. Caixin Services PMI has landed at 56.4, marginally lower than the estimates of 56.5 and the former release of 57.8. Broadly, the USD Index is showing signs of volatility contraction ahead of the release of the US

Share: Brent Crude Oil is under heavy pressure after recently rejecting key resistance levels, suggesting a resumption of the downtrend is likely, with next supports at $65.72 and $63.02, analysts at Credit Suisse report. Key resistance at $86.41/89.37 still expected to cap “With medium-term momentum still negative and short-term momentum crossing back into outright bearish

Share: People’s Bank of China (PBOC) set the USD/CNY central rate at 6.9054 on Thursday, versus previous fix of 6.9249 and market expectations of 6.9061. It’s worth noting that the USD/CNY closed near 6.9179 the previous day. In addition to the daily USD/CNY fix, the PBOC conveys details of the Open Market Operations (OMO), suggesting an injection

Share: GBP/USD is consolidating in the low 1.25 area. Economists at Scotiabank expect the pair to enjoy further gains. Short-term price patterns are mildly bullish “The fact that Cable is trading on a 1.25 handle remains a broader positive for the Pound, given it has struggled mightily to extend gains through the mid-1.24 area this

Share: USD/CAD has turned sideways after a perpendicular rally inspired by weaker oil prices. The USD Index has dropped sharply to near 101.75 as investors are anticipating neutral guidance from the Fed. USD/CAD is approaching the critical supply zone plotted in a range of 1.3648-1.3667. The USD/CAD pair is displaying a sideways performance around 1.3620

Share: JOLTS Job Openings in the US continued to decline in March. US Dollar Index holds above 102.00 in the American session. The data published by the US Bureau of Labor Statistics (BLS) revealed on Tuesday that the number of job openings on the last business day of March stood at 9.59 million, compared to 9.97 million

Share: Silver price stays defensive after reversing from three-week high. Repeated pullbacks from 10-DMA, bearish MACD signals keep XAG/USD sellers hopeful. Three-week-long bearish channel restricts immediate Silver price moves ahead of previous resistance line from January. Silver (XAG/USD) price seesaws around $25.00 as markets portray traders’ anxiety ahead of the key data/events on early Tuesday,

Share: S&P Global Manufacturing PMI for Canada recovered above 50 in April. USD/CAD stays in daily range at around 1.3550. Business activity in the Canadian manufacturing sector expanded at a soft pace in April with S&P Global Manufacturing PMI improving to 50.2 from 48.6 in March. This reading came in below the market expectation of

Share: WTI crude oil snaps two-day winning streak, holds lower ground near intraday bottom. Fortnight-old descending resistance line, 50-SMA restrict immediate upside. 200-SMA, 50% Fibonacci retracement limit nearby downside as bears take a breather. WTI crude oil retreats to $76.00 as it fades the previous day’s corrective bounce off 50% Fibonacci retracement of the March-April

Share: USD/JPY skyrocketed after BoJ’s dovish decision and high US core PCE data. USD/JPY Price Analysis: Rallied more than 200 pips, set for a pullback, before challenging YTD high, The USD/JPY rose sharply after the first monetary policy decision by the Bank of Japan (BoJ) new Governor Kazuo Ueda struck a dovish tone, a greenlight

Share: WTI is set to post back-to-back weekly losses, despite gaining more than 2% on Friday. US crude oil output shortages were outweighed by gasoline demand; therefore, WTI rose. Western Texas Intermediate (WTI), the US crude oil benchmark, posted gains of more than 2% after US companies related to the energy sector exceeded earnings estimates.

Share: Analysts at MUFG Bank continue to see the EUR/USD pair moving to the upside over the next few days. They expect the pair to break out to the upside and move back closer to pre-Ukraine conflict levels from early last year. Key quotes:  “The pair has been attempting to break above the top of

Share: The Central Bank of Colombia (BanRep) raised its key interest rate by 25bps to 13.25%. Analysts at TD Securities think this was the last hike in the cycle and they warn that after the recent Cabinet reshuffle form the President, the central bank has now additional reasons to be cautious in coming months. Key

Share: US Employment Cost Index rose more than expected in Q1. US Dollar Index clings to strong daily gains above 102.00. The data published by the US Bureau of Labor Statistics revealed on Friday that the Employment Cost Index, compensation costs for civilian workers, increased by 1.2% in the first quarter.  This reading followed the