FX

Share: USD/CHF extended its drop past the 20/50-day EMAs after facing resistance at the 200-day EMA. USD/CHF Price Forecast: Shifted bearish, though needs to crack 0.9130s to test YTD lows. USD/CHF falls below the confluence of the 20 and 50-day Exponential Moving Averages (EMAs), extending its daily losses to more than 1% Friday. A mixed

Share: The California Department of Financial Protection and Innovation closed Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Equity prices of SVB Financial Group collapsed during the week. On Wednesday the bank surprised by announcing it needed to raise $2.25 billion in stock, triggering concerns. The situation around Silicon Valley

Share: USD/MXN to finish flat on Friday after rallying to a new two-week high of around $18.60.  The US Bureau of Labor Statistics revealed the US economy added more jobs than expected. A rise in the US unemployment rate would warrant a less hawkish Federal Reserve. USD/MXN is almost flat after hitting a daily high

Share: Gold price rallies on the knee-jerk after Nonfarm Payrolls. Gold price bulls eye a break of $1,850 to take back control.  Gold price had been moving higher for a third consecutive day on Friday but the yellow metal was on track for a weekly fall as prospects of further interest rate hikes dented the precious metal’s allure, while

Share: Early on Friday, around 03:00 AM GMT, the Bank of Japan (BoJ) will announce the ordinary monetary policy meeting decisions taken after a two-day brainstorming. Following the rate decision, BoJ Governor Haruhiko Kuroda will attend the press conference, around 06:00 AM GMT, to convey the logic behind the latest policy moves. The Japanese central

Share: Asana reported earnings beat for Q4. CEO Moskovitz said he plans to buy up to 30 million shares. ASAN stock is up 20.5% in Thursday’s premarket.  Moskovitz made a similar move in the fall of 2022. Asana (ASAN) stock exploded 24% late Wednesday after founder and CEO Dustin Moskovitz said he will purchase as

Share: AUD/USD takes offers to refresh intraday low on softer inflation from Australia’s key customer. China CPI slides to 1.0% YoY, PPI declines to -1.4% YoY in February. Hawkish Fed bets, US President Biden’s budget proposal also exert downside pressure on the risk-barometer pair. Second-tier US data, risk catalysts can offer immediate directions ahead of

Share: UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assess the latest release of inflation figures in the Philippines. Key Takeaways “The Philippines’ headline inflation unexpectedly reversed course and moderated for the first time in six months to 8.6% y/y in Feb from a 14-year high of 8.7% in the preceding month.

Share: Silver price takes offers to refresh multi-day low during three-day downtrend. Clear break of six-month-old support line, the key Fibonacci retracement level joins bearish MACD signals to favor XAG/USD sellers. 200-DMA, monthly resistance line add to the upside filters. Silver price (XAG/USD) remains depressed at the lowest levels in four months as sellers poke

Share: Jerome Powell testimony in the US Congress will be a top-tier market moving event. New clues on the Federal Reserve interest rate hike path are awaited. US Dollar, stock markets and other asset classes could see big swings on Fed Chair words. Jerome Powell, Chairman of the Federal Reserve System, will testify on March

Share: Gold price bears are in the market and eye $1,830s.  Fed’s Powell is the next major catalyst ahead of NFP. Gold price was a touch softer in the US session even as the US Dollar dropped and yields rose ahead of Jerome Powell’s testimony to Congress. The yellow metal was sliding below $1,850 after

Share: Market Strategist Quek Ser Leang at UOB Group favours the continuation of the current consolidation in USD/IDR. Key Quotes “Our narrative last week was ‘Further USD/IDR strength is likely but it remains to be seen if the next major resistance at 15,490 is within reach this week’. Our view did not materialize as USD/IDR

Share: AUD/USD pares the first weekly gain in three around the lowest levels in two months. Convergence of 100-EMA, one-month-old descending resistance line adds to the upside filters. Bullish MACD signals, RSI’s upward grind keeps pair buyers hopeful. Downside break of ascending support line from Wednesday appears crucial for bear’s return. AUD/USD prints mild losses

Share: Next week, the Bank of Canada (BoC) will have its monetary policy meeting. No change in rates is seen. Analysts at TD Securities point out that the forward guidance is not expected to change significantly from the January meeting. BoC: Live to hold another day “The downside surprise on Q4 GDP should allow the

Share: EUR/USD to finish the week above 1.0600 after hitting a weekly low of 1.0533. A risk-on impulse and falling UST bond yields are a headwind for the US Dollar. US ISM Non-Manufacturing data showed the US economy remains resilient. EUR/USD reversed its course and is set to finish the week with gains of more

Share: USD/JPY retreats from weekly highs amidst an offered US Dollar. Upbeat US economic data failed to bolster the US Dollar. USD/JPY Price Analysis: Bullish above 136.00; otherwise, a retest of 134.00 is on the cards The USD/JPY slides from 136.70s toward the 136.00 area on Friday amidst broad US Dollar (USD) weakness even though

Share: GBP/USD remains near 1.2000 after US data, virtually flat for the week The GBP/USD fell to 1.1960 after the release of the US ISM Service PMI and then rebounded. The pair continues to move sideways, near 1.2000, virtually flat for the week. Read More… GBP/USD Price Analysis: Sticks to gains around 1.2000 mark, 200

Share: GBP/USD outlook: Renewed bears probe again through key support zone Cable lost ground after recovery was strongly rejected at the base of falling weekly Ichimoku cloud on Tuesday and fresh bearish acceleration on Thursday broke psychological 1.20 level, to test key support zone at 1.1950/14 (Fibo 38.2% of 1.1146/1.2446 / 200DMA / Feb 17