FX

The Mexican Peso has been rising versus the US Dollar over the last weeks. Analysts at MUFG Bank, argue the resilience of the Mexican Peso might not last long amid domestic and external risks. Their forecast is for USD/MXN to reach 19.80 by the end of the first quarter 2023 and 20.00 by the third quarter. 

Gold price consolidates recent gains around four-month high after crossing the key resistances. Cautious mood, US Dollar rebound allows XAU/USD bulls to take a breather. Downbeat expectations from US employment report, dovish bias for Fed favor Gold bulls. Sustained trading beyond $1,796, $1,787 keeps buyers hopeful. Gold price (XAU/USD) settles around a four-month high, printing

Silver price rose more than 1%, spurred by Federal Reserve Jerome Powell’s dovish speech. Soft US Dollar and US Treasury bond yields plummeting, a tailwind for XAG/USD. Silver Price Analysis: Once it cleared $22.00, a rally above $23.00 is on the cards. Silver price soars more than 2% following a “dovish” perceived speech by the

USD/JPY takes offers to refresh 14-week low during four-day downtrend. BOJ’s Noguchi teases pre-emptive withdrawal of stimulus to propel JPY of late. Fed’s Powell, US Treasury Secretary Yellen favored hopes of smaller rate hikes. USD/JPY stands on slippery grounds, extending the previous south-run towards the lowest levels since late August after Bank of Japan (BOJ)

Silver price rallies above the 200-day EMA, despite a buoyant US Dollar. Federal Reserve Chair Jerome Powell is eyed by traders, remaining on the sidelines. Despite mixed US economic data, US Dollar got bid due to month-end flows. Silver price climbs sharply as sentiment shifted slightly sour, and the US Dollar (USD) remains bid, sparked

GBP/USD has sensed responsive buying action around 1.1940 as risk aversion loses luster. The speech from Jerome Powell is expected to be less hawkish on interest rate guidance. The Bank of England is expected to advance its interest rates to 4.25% in Q1CY2023. GBP/USD has gained strength after testing the 200-EMA around 1.1960. GBP/USD has

Citing five sources familiar with the matter, Reuters reported on Tuesday that OPEC and its allies including Russia, known collectively as OPEC+, was likely to stick with the existing oil output policy at the December 4 meeting. Two other sources, however, told Reuters that the group could consider further reducing the oil output. Market reaction

USD/JPY is facing selling pressure above 138.50 as the risk-off impulse has lost its traction. Market participants are divided on decisions over deceleration in an interest rate hike by the Fed. A Reuters poll claims that the BOJ could consider unwinding monetary easing in the second half of 2023. The USD/JPY pair has witnessed a

Economists at Deutsche Bank see the S&P 500 at 4500 in the first half of next year while EUR/USD is likely to hit 1.15 by late 2023. 2023 should be a more positive year for Treasuries “When it comes to financial markets, our baseline view is that the current bear market equity rally will continue

EUR/USD is expected to resume its downside journey after surrendering the day’s low at 1.0340 as market mood sours. The long-term US Treasury yields have dropped further below 3.65% as anxiety ahead of Fed Powell’s speech soars. As the Fed is utterly dedicated to bringing price stability, a slowdown in the growth rate is highly

The Pound Sterling drops below 1.2000, set to finish the week with gains of more than 1.50%. GBP/USD: Failure to hold above 1.2100 exacerbated a fall toward the November 24 low of 1.2049. GBP/USD Price Analysis: A break below 1.2000 will exacerbate a fall towards 1.1800. The GBP/USD hovers below 1.2100 amid a subdued trading

The US Dollar stages a recovery on risk aversion spurred by the China Covid-19 crisis. USD/CAD bounced off weekly lows around 1.3300 and tested the 1.3400 mark. USD/CAD Price Analysis: The head-and-shoulders chart pattern remains intact. The US Dollar (USD) stages a recovery against the Canadian Dollar (CAD) amid a subdued trading session sparked by

The Bank of Canada (BoC) could be near the end of the interest rate hike cycle, point out analysts at RBC Capital Markets. They consider the BoC will hike by 25 basis points in December.  Key Quotes:  “Canada looks on track to deliver a GDP reading next week that’s just above our 1% (annualized) forecast

China’s coronavirus crisis weighs on WTI price, on speculations of lower demand. The Eurozone threatening to impose a cap on Rusian and a buoyant US Dollar keeps WTI defensive. WTI Price Analysis: A daily close below $80.00 could pave the way for a YTD low re-test. Western Texas Intermediate (WTI), the US crude oil benchmark,

GBP/USD retreats from a multi-month high amid a modest pickup in the USD demand. An uptick in the US bond yields prompts some USD short-covering amid thin trading. Bets for less aggressive Fed rate hikes might cap the buck and lend support to the pair. The GBP/USD pair edges lower on Friday and moves away

Gold price is set for a positive close on the week amid broad-based US Dollar weakness. Federal Reserve’s dovish outlook, light trading to continue supporting Gold price. Gold price is poised for a hard battle heading into the US NFP week, $1,775 remains in sight.   Gold price is challenging bearish commitments near the $1,760

Coupa Software is rumored to be in acquisition talks with Vista Equity Partners. Vista is one of the largest private equity tech investors in the space. COUP stock is down 64% this year despite Wednesday’s share price explosion. Wall Street analysts were already speculating on a buyout in October. Coupa Software (COUP) spent Wednesday’s early

AUD/USD picks up bids to refresh weekly high during three-day uptrend. A successful break of 50-SMA, one-week-old descending trend line favor buyers. Monthly support line, 61.8% Fibonacci Expansion level act as additional trading filters. AUD/USD takes the bids to renew weekly top around 0.6755 during early Thursday as buyers cheer a three-day uptrend. In doing