FX

Equities continue to rally on Tuesday as yields fall. FOMC minutes could provide some headwinds. Equity markets in US closed Thursday for Thanksgiving. Equity markets put in another impressive performance on Tuesday with all main indices closing in the green. Energy stocks recovered sharply after oil bounced back above $80. The gains in Energy (XLE)

NZD/JPY has refreshed a two-week high at 87.40 as RBNZ has pushed interest rates to 4.25%. The RBNZ has elevated its OCR by 75 bps after five consecutive 50 bps hikes. Japanese markets are closed on account of Thanksgiving Day. The NZD/JPY pair has displayed a firm perpendicular move to 87.40 after a bigger rate

Here is what you need to know on Tuesday, November 22: Equity markets continue to slide lower as news flow is light in a shortened week. At least The Wall Street Journal provided some volatility as a report it carried caused oil to collapse 5% before Saudi Arabia denied any planned OPEC increases. That saw

GBP/JPY is aiming to smash a two-week high around 169.00 as the risk-off profile is losing traction. UK’s novel leadership is being criticized for ignoring economic prospects. Japan’s Kishida is thinking of reshuffling the Cabinet by year-end. The GBP/JPY pair has extended its recovery and is looking to shift its business above the 168.00 hurdle

EUR/USD remains capped as expected below the 200-Day Moving Average on a closing basis, currently seen at 1.0409. Analysts at Credit Suisse see scope for a deeper setback to the 38.2% retracement of the rally from September at 1.0120. Resistance at 1.0409 is expected to cap for now “EUR/USD remains capped as expected by key

NZDUSD is hovering around 0.6160 as investors await the People’s Bank of China’s monetary policy. Federal Reserve policymaker Bostic doesn’t see a continuation of the 75 bps rate hike regime in the December meeting. The Reserve Bank of New Zealand may shift to a 75 bps rate hike to curtail the historic surge in inflationary

Federal Reserve officials’ hawkish commentary bolstered the US Dollar, except against the New Zealand Dollar. US Existing Home Sales tanked, flashing an upcoming recession in the United States. Reserve Bank of New Zealand’s upcoming monetary policy meeting would determine NZDUSD direction The New Zealand Dollar (NZD) regained composure and finished the week up by 0.50%

GBPUSD Weekly Forecast: Pound Sterling set to reclaim 200-DMA in the Thanksgiving week GBPUSD buyers remained unstoppable for the second straight week, despite a lack of bullish impetus from the highly-anticipated United Kingdom Autumn Budget. The Pound Sterling also stood resilient to the recent rebound in the US Dollar, as attention now turns toward the

Gold price struggled to build on the previous week’s impressive gains. XAUUSD needs to clear $1,780 to stretch higher, FXStreet’s Eren Sengezer reports. 200-day SMA at $1,800 aligns as significant resistance  “The Relative Strength Index (RSI) indicator on the daily chart retreated modestly after having climbed above 70 earlier in the week, suggesting that the

Economists at Credit Suisse no longer see a compelling reason for USDCAD to reach their 1.4100 target in Q4: they now lower it to 1.3500 and reset their target range from 1.3250-1.4300 to 1.3000-1.3650 for the remainder of the quarter. CAD is vulnerable to deteriorating global growth outlook “We now see fewer compelling reasons for

The Dollar has stabilised after the big correction. Economists at ING expect the greenback to re-appreciate into the end of the year. Bearish sentiment cooling off “We think this consolidation phase in the Dollar may extend for a little longer, before a re-appreciation of the greenback into the end of the year.” “With the dovish

What you need to take care of on Friday, November 18: The market mood remained sour, which help the US Dollar to recover some of the ground lost earlier in the week. Nevertheless, the greenback posted uneven and modest advances across the FX board, as speculation the US Federal Reserve will soon pivot weighed more.

USDCAD gains traction for the second straight day and is supported by a combination of factors. Weaker Oil prices undermine the Loonie and act as a tailwind amid a pickup in the USD demand. Traders now look forward to the US macroeconomic releases and Fedspeak for a fresh impetus. The USDCAD pair builds on the

Federal Reserve Governor Christopher Waller who last week said “we’ve still got a ways to go” before the US central bank stops raising interest rates, despite good news last week on consumer prices, jolting risk appetite, repeats the same hawkish rhetoric on Wednesday. Waller continues to caution that officials were not close to a pause.

The Kiwi is another notch higher. Economists at ANZ Bank expect NZDUSD to extend its rally. USD Index still seen as about 15% overvalued “Since the end of Q2 markets have been gravitating to the view that the USD’s days of exceptionalism and dominance were coming to an end, but softer US price data has

AUDUSD bulls stick to the course but meet key resistance.  Geopolitical risks have raised their ugly head surrounding Poland, Russia noise. AUDUSD is higher by some 1% and has rallied from a low of 0.6685 to test a key daily resistance line near 0.6800. However, there has been a glitch that is due to lending

USDCHF slides back closer to the YTD low amid the emergence of fresh USD selling. Bets for less aggressive Fed rate hikes, sliding US bond yields weigh on the greenback. A positive risk tone could undermine the safe-haven CHF and help limit the downside. The USDCHF pair meets with a fresh supply following an early

USDCAD is on the brink of a move higher as the US Dollar firms.  WTI pressured on Covid cases in China, denting CAD.  USDCAD is making tracks on the upside on Monday, partly as oil prices fall and the greenback rallies against a basket of major currencies. The US Dollar is accumulating as investors kept their focus on