FX

EUR/USD registered impressive gains and climbed above 1.1000 for the first time since early April. Economists at ING ntoe that there is a clear path toward the 1.12 level. The EUR/USD story is positive “A sharp narrowing in rate differentials stands to become a bigger driver of EUR/USD this year and should carry it to

Gold price jumps on dovish Federal Reserve tilt. The US Dollar drops as markets price in a pivot at the Federal Reserve.  Gold price shot higher to a fresh bull cycle high on the back of the Federal Reserve’s dovish tilt that markets have priced in, smelling a ‘Fed-pivot’ around the corner, bullish for the

EUR/USD adds to Tuesday’s advance and approaches 1.0900. EMU Flash inflation Rate, Unemployment Rate next of note in the bloc. The FOMC event, ISM Manufacturing take centre stage later in the session. The European currency keeps the optimism unchanged for the second session in a row and lifts EUR/USD back to the vicinity of the

USD/CAD bulls look to the 50% mean reversion target of the bearish impulse. Bears eye supports below 1.3300, targeting 1.3250/20 and then 1.3200 / 1.3150.  USD/CAD has blown off on Tuesday as preliminary domestic data showed the economy growing at a slightly faster pace than the Bank of Canada expected in the fourth quarter. This brings us

USD/CNH now appears exposed to some range bound trade within 6.7270-6.7950, note Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that ‘the price movements are likely part of a broad consolidation range’ and we expected USD to ‘trade between 6.7300 and 6.7700’.

USD/JPY recovers some ground as traders brace for a busy US economic calendar. Buyers are eyeing a test of the 20-day EMA, as the RSI and RoC suggest the USD/JPY could print a leg-up in the near term. SUD/JPY Price Analysis: Remains downward biased, but it could aim higher. USD/JPY erases last Friday’s losses and

Open interest in natural gas futures markets increased for the fourth consecutive session on Friday, this time by around 9.7K contracts according to preliminary readings from CME Group. Volume, instead, reversed two daily builds in a row and went down by around 233.2K contracts. Natural Gas: Next on the downside comes $2.45 Prices of the

USD/CHF is downward biased but subject to a mean reversion move towards 0.9300. Solid resistance lies at 0.9235/40, with the confluence of technical indicators rejecting the USD/CHF rally. USD/CHF Price Analysis: Bulls are hopeful if the pair remains above 0.9158. After slumping on Wednesday, the USD/CHF stages a comeback recovering the 0.9200 psychological level, eyeing

The US core PCE, the Fed’s preferred gauge for inflation, edges down, sparking speculations for a Fed pivot. Consumer Sentiment improved, while inflation expectations ticked lower. EUR/USD Price Analysis: Upward biased, but short-term neutral, ahead of Fed and ECB’s decisions. The EUR/USD got rejected from the 1.0900 psychological barrier for two consecutive days and on

Analysts at MUFG Bank see the USD/ZAR moving to the downside over the next days. They point out the South African Rand has failed to strengthen alongside other Emerging Market currencies on the back of building optimism over a dovish Federal Reserve policy pivot and China’s economy reopening more fully this year. Key quotes: “The

GBP/USD is set to finish Friday with losses of at least 0.20%. United States inflation continues to wane but remains twice elevated of Fed’s target. GBP/USD Price Analysis: To remain sideways ahead of the Fed and BoE monetary policy decisions. GBP/USD snaps two days of gains and tumbled below Thursday’s close of 1.2406, slumping toward

EUR/USD holds lower ground near intraday bottom, down for the second consecutive day. Bearish MACD signals, failure to cross 1.0930 hurdle keeps sellers hopeful. Fortnight-old ascending trend line defends bulls beyond 1.0820. Recovery needs validation from weekly hurdle to refresh multi-month high. EUR/USD licks its wounds near the intraday low surrounding 1.0870 as traders await

Data released on Thursday showed the US economy grew at a 2.9% annualized rate during the fourth quarter, above the 2.6% of market consensus. Analysts at Wells Fargo point out the outturn represents the second consecutive quarter of above-trend GDP growth. However, they warn that while the economy came into the fourth quarter with solid

NZD/USD is displaying back-and-forth action ahead of US GDP data. The USD Index is aiming to build a cushion around 101.20 despite the risk-on market mood. The Ascending Triangle formation is indicating a squeeze in volatility. The NZD/USD pair is continuously facing hurdles in recapturing the psychological resistance of 0.6500 in the early European session.

USD/JPY remained pressured as the 50-DMA crossed beneath the 200-DMA. Bears stepped in and reclaimed 130.00, as they eye 129.00. USD/JPY fell as the North American session progressed and tumbled below the 130.00 figure, as buyers failed to crack the 20-day Exponential Moving Average (EMA) at 130.74. Factors like a soft US Dollar (USD) and

GBP/USD struggles for clear directions after two-day downtrend. UK’s record deficit, fresh Brexit woes and fears of strong recession due to workers’ strikes favor bears. Receding hawkish concerns surrounding Fed, downbeat US data put a floor under the Cable price. Second-tier UK data may entertain traders ahead of US Q4 GDP. GBP/USD holds lower ground

USD/JPY back into negative territory after a spike following US data. US PMI S&P Global recovers in January, still below 50. US Dollar weakens during the American session amid risk appetite. The USD/JPY spiked to 131.21, following the release of US economic data but then pulled back toward 130.00 as stocks turned positive on Wall

USD/INR remains firmer for the second consecutive day, grinds near intraday top. Successful break of three-week-old descending trend line, upbeat oscillators suggest upside break of 100-DMA. Previous support line from early August 2022 acts as the last defense of USD/INR bears. USD/INR holds onto the week-start breakout of the previously key resistance line as bulls