FX

Share: AUD/USD seesaws in a choppy range after snapping two-day downtrend the previous day. Slightly hawkish RBA Minutes, downbeat US data and firmer China statistics allowed Aussie buyers to return. Risk catalysts eyed for immediate directions amid a light calendar at home. AUD/USD struggles to cheer the first daily gain in three as the quote

Share: US Dollar has lost its strength following a decisive two-day rebound. Markets expect the Federal Reserve to raise its policy rate again in May. EUR/USD technical outlook suggests that the bullish bias stays intact. The US Dollar (USD) has lost its footing after having registered strong gains against its major rivals for two straight

Share: GBP/USD remains pressured around one-week low after declining in the last two consecutive days. Clear break of three-week-old ascending support line bearish MACD signals favor Cable sellers. Likely increase in UK Claimant Count Change for April may also weigh on GBP/USD price. Buyers need validation from 1.2435; convergence of 100, 50 DMA appears a

Share: In the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, USD/CNH is expected to stick to the current range bound theme between 6.8500 and 6.9200 for the time being. Key Quotes 24-hour view: “We expected USD to trade with a downward bias last Friday but we held

Share: NZD/USD is holding near the 0.6200 psychological area. Fed sentiment remained the main driving force. NZD/USD dropped sharply on Friday as the US Dollar resurged as a hawkish narrative surrounding the Federal Reserve resurfaced. NZD/USD dropped to a low of 0.6195 from a high of 0.6314 and is stabilizing around 0.62 the figure currently.  On Friday,

Share: Sentiment deterioration, amidst mixed Fed signals, weakened the NZD. Inflation expectations in the United States moved higher, according to Americans. NZD/USD traders are eyeing next week’s NZ CPI report. NZD/USD snapped two days of consecutive gains and slid past the 200, 50, and 100-day Exponential Moving Averages (EMAs) on a risk-off impulse spurred by

Share: The US Dollar Index found bids at around the YTD lows at 100.788. USD bulls must retake 104.000 to challenge YTD high at 105.883 and maintain a double-bottom approach. Contrarily, USD bears must reclaim 100.788 to test the 200-week EMA at around 99.117. The US Dollar Index (DXY), a basket of six currencies against

Share: Retail Sales in the United States plunged as Industrial Production decelerated. US Consumer Sentiment improved, but the needle on inflation expectations rose. AUD/USD Price Analysis: Could test 0.6600 with a daily close below 0.6700. AUD/USD reverses its course after failing to break the 200-day Exponential Moving Average (EMA) at 0.68099m re-treating beneath 0.6700. economic

Share: The US dollar is rising sharply on Friday, trimming weekly losses after the release of US economic data. GBP/USD is falling almost a hundred pips on the day, trading at 1.2445. Read More… The continuation of the upside momentum could motivate GBP/USD to challenge the 1.2600 neighbourhood in the next few weeks, suggest Markets Strategist Quek Ser Leang and Senior

Share: According to Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, further upside in EUR/USD should meet the next resistance level at 1.1120 in the near term. Key Quotes 24-hour view: “While we expected EUR to strengthen yesterday, we were of the view that ‘a sustained break above 1.0335 is

Share: EUR/USD bulls take out 2023 highs as US Dollar falls to fresh lows.  Markets are suring up their bets of a peak Fed rate this summer.  EUR/USD has breached the early February highs and has gone on to hit its highest level since April 2022, as investors dumped the US Dollar on yet further data

Share: Economist at UOB Group Ho Woei Chen reviews the latest monetary policy meeting by the Bank of Korea (BoK). Key Takeaways “In line with consensus expectation, BOK maintained its rate pause in Apr as it kept its benchmark 7-day repo rate unchanged at 3.50% for the second consecutive month. The rate decision was unanimous

Share: GBP/USD stays positive, aiming towards testing the 1.2500 figure. FOMC’s minutes showed that participants expected to raise 50 bps, but the banking crisis, put a possible pause on the table. US Inflation dipped, but core CPI remained at the prior’s month levels. The GBP/USD advances after the release of the US Federal Reserve Open

Share: In the opinion of Economist Lee Sue Ann and Market Strategist Quek Ser Leang at UOB Group, AUD/USD is seen trading within the 0.6600-0.6760 range in the near term. Key Quotes 24-hour view: “Yesterday, we held the view that ‘the sharp rebound in AUD could extend but any advance is not expected to break

Share: WTI jumps to test resistance again as US Dollar retreats. Production cuts keeps the black gold better bid.  WTI oil prices climbed over 2% to $81.55 a barrel on Tuesday while investors get set for data that may show further declines in US oil and fuel inventories. Additionally, a weaker US Dollar ahead of potentially cooling

Share: New Bank of Japan Governor Kazuo Ueda spurred US Dollar buying. Speculation that the tightening cycle is over weighed on investors’ mood. NZD/USD is neutral-to-bearish around 0.6220, could extend its slump. It was not a good start to the week for the New Zealand currency, as it weakened sharply against its American rival. NZD/USD

Share: Gold price pares the first weekly gains in three, bounces off 200-EMA at the latest. China-inflicted risk aversion, hawkish Fed bets underpin US Dollar’s corrective bounce after four-week downtrend. XAU/USD bears remain cautious ahead of key support. Easter Monday holidays, anxiety ahead of US inflation, Fed Minutes add filters to Gold price. Gold price

Share: GBP/USD tumbles on a worse-than-expected US Nonfarm Payrolls report, with the US economy adding fewer jobs than analysts’ consensus. However, the initial reaction favored the US Dollar (USD). At the time of writing, the GBP/USD trades volatile around the 1.2450-1.2370 range, below its opening price. Read More… GBP/USD seesaws around 1.2155-60 while printing the first