FX

Share: AUD/JPY remains sidelined after reversing from the key SMA earlier in the week, retreats of late. Clear downside break of bullish triangle, looming bear cross on the MACD. Bulls need validation from 93.10 for conviction, sellers may eye two-month-old support past 200-SMA break. AUD/JPY bulls run out of steam around 96.00, even as the

Share: Preliminary calculations by Eurostat showed a significant increase in the core inflation rate. The inflation figures for February will therefore confirm the ECB’s intention to raise interest rates further, economists at Commerzbank report. Core inflation jumps to 5.6% “Hopes for a strong decline in the inflation rate in February were not fulfilled. It eased

Share: USD/CHF picks up bids to reverse the previous day’s pullback moves. Swiss PMI, Real Retail Sales also came in softer after downbeat Q4 GDP. US ISM PMI details, hawkish Fed talks keep inflation fears on the table and propel the US Treasury bond yields. Second-tier data, risk catalysts are the key to clear directions.

Share: The Manufacturing PMI set to improve to 48.0 from 47.4, New Orders expected to rise to 43.7. The ISM Prices Paid Index is seen a tad higher at 45.0 from 44.5 in the previous month. Purchasing Managers’ Index will be released by the ISM on Wednesday at 15:00 GMT. The main Manufacturing Purchasing Managers’

Share: GBP/JPY formed an inverted hammer, meaning sellers are in charge. The GBP/JPY would face strong support at the confluence of the 100/200/20-day EMAs. GBP/JPY Price Analysis: In the near term, it’s neutral to upward biased. The GBP/JPY registers a minimal upside as Wednesday’s Asian session begins. On Tuesday, the GBP/JPY printed losses of 0.35%

Share: Gold price stays in bearish mode, approaching $1,800 psychological support. US Dollar stays dominant across the board as US macroeconomic data keeps beating expectations. ISM Manufacturing and Services PMI releases headline a mid-tier economic data week. Gold price is back on the bear trail on Tuesday as the US Dollar re-gathers its strength across

Share: The AUD/JPY trades sideways, within a busy area surrounded by all the daily Moving Averages. AUD/JPY Price Analysis: Range-bound within the 91.57-89 area. The AUD/JPY fluctuates as the Asian session begins, registering minuscule gains of 0.07%, exchanging hands at around 91.73. A risk-on impulse bolstered the Australian Dollar(AUD), while the Bank of Japan’s (BoJ)

Share: The Dollar remains broadly bid. It is hard to argue with Dollar strength near term, in the opinion of economists at ING. Dollar to hold gains “The Fed’s current median expectation sees Fed Funds at 5.00-5.25% by the end of 2023 and 4.00-4.25% by end-24. Both of these projections could be revised higher. This

Share: EUR/USD is expected to show further weakness below 1.0540 as US inflation has rebounded. Higher-than-anticipated US consumer spending resulted in an intense sell-off in the US equities. ECB Lagarde has reiterated that a 50 bps interest rate hike announcement is on the table. The EUR/USD pair is juggling in a narrow range above 1.0540

Share: The EUR/USD is about to post the lowest weekly close in two months. According to analysts at MUFG Bank, the US Dollar has room to rise further versus the Euro, potentially toward the 200-day Moving Average, currently around 1.0330. Room for USD rebound to extend further “The pair has broken back below the 1.06000-level

Share: “Markets have taken on board probabilities around a changed fiscal stance as well as the more aggressive Fed and expect inflation to come under control in quarters and years ahead,” St. Louis Federal Reserve President James Bullard said on Friday, per Reuters. Additional takeaways “Fed has considerable institutional credibility compared with its 1970s” “The current

Share: Gold price remains bearish despite improving market mood. US Dollar stays dominant after US Gross Domestic Product growth disappointed on the second estimate for Q4 2022. PCE disinflation should continue, but any surprise could have a notable impact on Gold. Gold price continues to slowly trend down on Friday as the US Dollar strength remains on

Share: USD/JPY is on the backside of the prior bullish trend. The US Dollar remains in favour on hawkish data. The price is capped by the 135s so far and a move below 134.50 will be key for the week ahead.  USD/JPY is trading offered in the afternoon on Wall Street and is down some

Share: NZD/USD risks extra losses while below the 0.6285 level, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that NZD ‘is under mild downward pressure and the bias is to the downside but a break of the major support at 0.6195

Share: The minutes showed that some Federal Reserve officials wanted a 50 bps rate hike. Policymakers’ worries are linked to a tight labor market and commented inflation risks are tilted upwards. AUD/USD Price Analysis: Spiked towards 0.6830 before reversing its path to print a new weekly low of around 0.6801. AUD/USD prolonged its losses during

Share: EUR/USD consolidates the first daily gains in three, retreats from intraday high of late. Strong EU data, hawkish ECB bets favor Euro buyers amid mixed sentiment. Geopolitical fears join upbeat US PMIs, yields to weigh on EUR/USD ahead of the key Fed Minutes. FOMC Minutes should stay away from chatters surrounding Fed’s policy pivot

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