FX

Analysts at MUFG Bank have a bullish outlook for the EUR/CHF cross, considering it could benefit from a further scaling back of fears over recession in the Eurozone. Key quotes: “After trading within a narrow range between 0.9800 and 0.9950 throughout most of Q4, the pair has broken higher in recent days as it first

USD/CAD drops to its lowest level since November and is pressured by a combination of factors. Bullish oil prices underpin the Loonie and act as a headwind amid the prevalent USD selling bias. The fundamental backdrop favours bearish traders and supports prospects for additional losses. The USD/CAD pair attracts fresh sellers in the vicinity of

EUR/USD bulls take on fresh bull cycle highs but bears are lurking.  US CPI weakened the outlook for the US Dollar but a cohort of Fed speakers remain hawkish. Breakout traders could be feeling the heat of a sizeable correction in the coming sessions.  EUR/USD has popped to a fresh bull high following the day’s Consumer

Gold price catches fresh bids on Thursday and climbs back closer to a multi-month peak. Bets for less aggressive Federal Reserve continues to lend some support to the XAU/USD. Sliding US Treasury bond yields weighs on the US Dollar and provides an additional boost. The market focus remains glued to the consumer inflation figures from

Noting that fiscal policy risk is adding to inflation pressure, European Central Bank policymaker Pablo Hernandez de Cos said on Wednesday that the ECB will continue to raise interest rates significantly at future meetings at a steady pace. “Keeping interest rates at tight levels will reduce inflation by dampening demand and will also protect against the risk of a

USD/CAD struggles to capitalize on the overnight bounce and edges lower on Wednesday. An uptick in crude oil prices underpins the Loonie and caps the upside amid a softer USD. Traders seem reluctant and prefer to wait for the release of the US CPI report on Thursday. The USD/CAD pair attracts some sellers in the

What you need to take care of on Wednesday, January 11: The FX board saw little action on Tuesday amid a scarce macroeconomic calendar and as investors await some central banks’ clarity. US Federal Reserve Chief Jerome Powell and his counterparts from Canada and Japan were on the wires, although as part of a symposium

Some investors have been cautious about investing in China’s tech stocks. However, recent comments from the party secretary of the People’s Bank of China that the tech sector’s heavy clampdown is coming to an end have given investors some confidence to move back into tech shares. This has led to Alibaba shares taking out the

What you need to take care of on Tuesday, January 10: The US Dollar started the week on the back foot as optimism weighed on the safe-haven currency. On the one hand, market players assessed US macroeconomic data published last Friday, which suggests the Federal Reserve could slow the pace of tightening. Federal Reserve officials

The continuation of the selling pressure could drag USD/CNH to another test of the 6.7500 zone in the short term, note UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: “While we expected USD to weaken last Friday, we were of the view that ‘6.8560 is unlikely to

The GBP/USD soared close to 1.50% on disappointing US ISM Services data. Hawkish Fed speaking failed to weigh on the GBP/USD. Next week’s economic calendar would feature UK GDP, and US CPI reports. The Pound Sterling (GBP) extended its gains against the US Dollar (USD), surging more than 160 pips on Friday, following a disappointing

WTI is set to end the week with substantial losses of 8.40% The jobs report showed a slowdown in wages, while the labor market remains resilient. WTI failed to capitalize on US Dollar weakness after the US Services PMI shrinkage Western Texas Intermediate (WTI), the US crude oil benchmark, hovers at around $73.70s, almost flat,

Albeit the USD/CHF fell 1% on Friday, the pair finished the week with gains of 0.45%. USD/CHF remains sideways, though slightly tilted downwards, and it could test the 0.9200 mark. If the USD/CHF reclaims 0.9300, that could pave the way to 0.9400. The USD/CHF plunged after hitting fresh weekly highs around 0.9408, plummeting beneath the

December’s US Nonfarm Payrolls data weakened the US Dollar, even though the labor market remains tight. Average Hourly Earnings easing sparked speculations for a dovish move of the Federal Reserve in the February meeting. USD/JPY Price Analysis: Likely to remain downward biased below 133.00. The USD/JPY struggles at the 200-day Exponential Moving Average (EMA) around

Greenback drops sharply after NFP and ISM service sector. US yield falls to multi-day lows, commodities rebound. NZD/USD reverses from monthly lows, and trims weekly losses. The NZD/USD has risen a hundred pips from the daily low and it is trading at 0.6290, with a solid bullish tone supported by a broad-based USD decline. The greenback

Further decline in EUR/USD looks likely and could retest the 1.0450 and 1.0410 levels in the next weeks, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “Our expectations for EUR to range-trade were incorrect as it dropped sharply and closed at a 1-month low of

On Friday, the US official employment report will be released. Market consensus is for an increase in payroll by 200K. Analysts at Wells Fargo point out the demand for workers has started to roll over. They argue job openings and hiring plans have declined since the start of 2022, and the trend in layoffs is

The Federal Open Market Committee released the Minutes of the December 14-15 Meeting, spurring little action across the FX board. The US Dollar was little changed with the news, although US short-term interest-rate futures dropped. Key notes Most participants welcomed inflation easing in October and November but agreed it would take “substantially more evidence” of progress, to