FX

XAG/USD suffers the worst daily decline in months. Price hits the lowest level in five weeks, under pressure after losing key support levels. Gold remains steady, US stocks rise. Silver price is falling sharply on Monday, even as the US Dollar holds relatively steady and despite rising equity prices. XAG/USD recently hit  a fresh one-month

USD/INR licks its wound after refreshing multi-day low. Strong foreign inflow, broad US Dollar weakness underpins USD/INR slump. Hawkish Fed talks fail to impress USD bulls amid hopes of easy rate hike in February, policy pivot afterward. Markets expect RBI to curb Indian Rupee strength aroud 81.00 round figure, Advance readings of US Q4 GDP

GBP/USD seesaws during the North American session, around the 1.2360-1.2390 region, around the London Fix, unable to gain a clear direction. Risk appetite increased, which usually favors the Pound Sterling (GBP), but soft UK economic data weighed on the GBP/USD. At the time of writing, the GBP/USD exchanges hands at 1.2391. Read More… GBP/USD is on the back foot,

EUR/JPY bounced off the day’s lows at 139.03 and hit a daily high of 141.19 before losing steam. The EUR/JPY reclaiming and achieving a daily close above the 200-day EMA keeps bulls hopeful of higher prices. The Euro (EUR) rallies sharply on Friday, ahead of the weekend, as the Japanese Yen (JPY) weakened following the

XAG/USD stays firm and climbs as the US Dollar remains offered across the board. Silver Price Analysis: Range-bound but could turn bullish above $24.50; otherwise, it could re-test the 50-DMA. Silver price extended its gains for the second consecutive day, cleared Thursday’s daily high of $23.93, and held its ground above the 20-day Exponential Moving Average

Mullen Automotive stock is losing value on Friday. MULN stock has lost more than -16% YTD.  To continue its production ramp up goals, Mullen will probably need to keep diluting shareholders. Mullen management could boost oustanding shares from 1.7 billion to 5 billion. Mullen Automotive (MULN) has experienced an awful slide this week. Early January’s

EUR/USD grinds higher around intraday top as it braces for the second consecutive weekly gain. Although Fed officials also sync the tune with ECB hawks, hopes of shorter recession in Europe favor bulls. Downbeat US data renew economic fears surrounding the world’s largest economy and probe DXY bulls. ECB President Lagarde’s speech, Fed talks before

The recent GBP underperformance is largely due to a less hawkish BoE and sluggish domestic activity data but its underperformance is unlikely to continue in the light of a rebound in global risk sentiment and improving domestic dynamics, economists at HSBC report. GBP to benefit from the UK’s improving external balance “With inflation in the

AUD/USD extends the previous day’s pullback from five-month high, renews weekly low. Confirmation of bearish chart pattern, sustained break of 50-SMA favor sellers. 200-SMA, monthly support line probe bears even as oscillators suggest further downside. AUD/USD remains on the back foot for the second consecutive day after refreshing the multi-month high, down half a percent

The GBP is looking quite robust on the session. Economists at Scotiabank expect the GBP/USD to retest the mid-December high at 1.2445/50. GBP is developing a strong uptrend “The GBP is developing a strong uptrend on the short-term charts and has been looking in relatively good form technically, at least, since its rebound from sub-1.19

GBP/USD grinds near five-week high inside bearish chart formation. Divergence between higher-high on prices and lower high on RSI (14) tease sellers. Upside break of 1.2345 could defy the bearish signals and challenge previous monthly top. UK Inflation may disappoint pair buyers amid mixed forecasts. GBP/USD picks up bids to defend the previous day’s run-up

Gold price saw a surprise rally after breaking resistance levels of $1,900 and $1,878. Technically, bullish momentum is still intact. Nevertheless, a rising wedge formation signals a trend reversal, economists at ANZ Bank report. Macro environment not supportive enough to sustain the current price level “Momentum looks strong until price trades above $1,800 level. However,

Following on from prior analysis on Monday, EUR/USD bulls remain in a precarious position on the charts, swamped by offers below the 1.0850s following a break of a microstructure around 1.0820. The following depicts the prospects of a significant breakout to the downside for the days ahead.  EUR/USD H4 chart The price is moving into the 38.2% Fibonacci

EUR/USD is fast approaching 1.0940 which could be next potential hurdle. Above here, the rebound could persist towards 1.1040/1.1080, economists at Société Générale report. Next potential hurdles at 1.0940 and 1.1040/1.1080 “The pair has re-established itself beyond the 200DMA in December and is approaching 1.0940, the 50% retracement from 2021. This is an interim resistance.”

The USD Index is expected to decline towards a seven-month fresh low at 101.60. More than 94% chances are in favor of a 25 bps rate hike by the Fed to 4.50-4.75%. An expansion in the monthly Retail Sales might provide intermediate support to the USD Index. The US Dollar Index (DXY) has sensed barricades

NZD/USD finished the week with solid gains of 0.6700%, spurred by softer US CPI data. Consumer inflation expectations in the US edged lower and weighed on the US Dollar. NZD/USD Technical Analysis: Failure at 0.6400, cheered by sellers, eyeing a fall to 0.6300. The NZD/USD retraced after testing the current week’s high of 0.6417, dropped

USD/CAD finished Friday’s session with gains, though it faltered to clear 1.3400. USD/CAD Price Analysis: Exposed to selling pressure below 1.3400. The USD/CAD prolonged its weekly losses and tumbled for the fourth consecutive week, losing 0.36%, but on the day, the USD/CAD is up 0.22%. After the University of Michigan (UoM) Consumer Sentiment release showed

According to analysts at MUFG Bank, the Japanese Yen is set to gain further ground on the back of monetary policy expectations from the Bank of Japan. They consider possible a slide under 120.00 for later in 2023. Key quotes: “USD/JPY has fallen further still today and is now 15.5% down from the peak on