FX

Share: EUR/USD hovers around 1.0900 after hitting a low of 1.0876. US Nonfarm Payrolls rose below forecast but cemented the case for a 25 bps Fed rate hike. ECB’s Knot: Further rate hikes need, and no rate cuts in 2023. The EUR/USD falls during the North American session and retraces towards the 1.0900 figure after

Share: EUR/GBP barely moved the needle amidst thin liquidity conditions on a worldwide holiday. A solid US jobs report pushed recession fears away, as US equity futures showed. The EUR/GBP advances for two straight days and hits a four-day high of around 0.8790 on a subdued trading session in observance of the Good Friday holiday.

Share:  Here is what you need to know for next week:  Markets continue to move fast. A month ago, Silicon Valley Bank (SVB) was still relatively unknown. Later, came the banking crisis, and now it looks like it’s the beginning of worries about global growth after softer economic data. The Federal Reserve (Fed) went from

Share: USD/MXN remains sidelined after snapping three-day uptrend the previous day. Convergence of 200-HMA, three-week-old previous resistance line puts a floor under Mexican Peso pair’s price. Hesitance in extending trend line break, looming bull cross on MACD lures buyers; recovery remains elusive below 18.40. USD/MXN pair treads water around 18.23 during a sluggish start of

Share: Surging jobless claims sparked concern among traders and boosted the US Dollar to the detriment of the New Zealand Dollar. Bullard warns of sticky inflation, says Fed needs to stay vigilant to reach 2% target After the RBNZ 50 bps rate hike, the New Zealand Dollar rally faded as the NZD/USD dropped below the

Share: Gold price is likely to continue its downside move till $2,000.00 as US Dollar’s safe-haven appeal has improved. Slowing economic activities due to higher interest rates by the Fed are responsible for a recession in the US economy. Fed Mester advocates rates above 5% this year and holding them at restrictive levels for some time

Share: USD/MXN sees strong gains on cooling inflation data from Mexico. Weaker PMI and ADP figures suggest potential challenges for the US labor market and economic growth. USD/MXN Price Analysis: A daily close above the 20-day EMA could lead to a rally towards the 100-day EMA at 18.8382. The Mexican Peso (MXN) depreciated vs. the

Share: USD/INR is declining toward 82.00 as investors are yet to discount the overnight sell-off in the USD Index. Weak US Job Openings data is indicating that the tight US labor market is cooling-off. S&P500 futures have added nominal gains after a bearish Tuesday, portraying caution in the overall market mood. The USD/INR pair is

Share: Bank of England Chief Economist Huw Pill said on Tuesday that caution is still needed in assessing inflation prospects on account of the potential persistence of domestically generated inflation, as reported by Reuters. Key takeaways “The onus remains on ensuring enough monetary tightening is delivered to see the job through.” “There is a lot

Share: EUR/USD has reclaimed the 1.0900 resistance after a V-shape recovery amid the risk-on mood. Weak US Manufacturing PMI data has advocated the need for an early pause in the Fed’s policy-tightening spell. US Manufacturing PMI has registered a fifth straight figure below 50.0. The EUR/USD pair has recaptured the round-level resistance of 1.0900 in

Share: The Reserve Bank of Australia (RBA) will hold its monthly meeting on Tuesday. The key question is whether the RBA will take a break in its rate hike cycle and how it expects interest rates to develop in the near future, economists at Commerzbank report. Will the RBA pause its rate hike cycle? “There

Share: USD/CAD bears lurking for the open on OPEC news.  OPEC producers announce voluntary oil output cuts. USD/CAD ended Friday near flat but the Canadian Dollar edged lower against its US counterpart although it held near its strongest level in more than five weeks. The pair fell from a high of 1.3564 to a low of

Share: US Department of Commerce reported that PCE was below estimates, spurring speculations for a Fed shift. Oil prices rise after output reduction at several oilfields in northern Iraq’s Kurdistan region. Western Texas Intermediate (WT), the US crude oil benchmark, is set to finish the week with more than 9% gains after touching a YTD

Share: A triple bottom in the EUR/USD daily chart remains in play but at a brisk of being negated. EUR/USD’s price action during the last couple of weeks created a double top, which could shift the pair’s bias. The Euro (EUR) drops from around weekly highs of 1.0925 on a buoyant US Dollar (USD) and

Share: Gold price pulls back after spiking higher following lower-than-forecast US Personal Consumption Expenditure price data. Three Federal Reserve officials say more work needs to be done to bring down inflation. Never mind deposits, what about bank’s assets? Questions economist who sees crisis reviving and Gold exceeding $2,000. Gold may be forming a triangle in

Share: USD/CHF drops as US core PCE rose by 4.6% YoY, below the previous month. The University of Michigan’s Consumer Sentiment was below expected. USD/CHF Price Analysis: Presses toward 0.9100, but sellers struggle to break that support below. USD/CHF falls to a new weekly low below 0.9126, sponsored by economic data from the United States

Share: The concerns of financial instability saw an influx of safe haven buying for currencies such as the Japanese Yen. Economists at ANZ Bank expect the USD/JPY pair to move gradually lower toward 124 by the end of the year. BoJ pivot still a key focus “In the immediate term a policy shift looks unlikely.

Share: GBP/USD was last up 0.65% at 1.2391 having traveled between a low of 1.2293 and 1.2392 putting the pair on track for its biggest monthly gain since November, as concerns among investors over the banking sector dwi9ndled and dented the safe haven US Dollar. Read More… Further losses in the greenback allow GBP/USD to pick up extra pace and reach