FX

The US Nonfarm Payroll report showed that the country added 265K jobs in September. Wall Street holds on to intraday losses but pared the bleeding. GBP/USD cannot bounce ahead of the weekly close, hinting at more pain ahead. Following the US monthly employment report, the American dollar rallied, pushing GBP/USD down to an intraday low

In its latest study published on Friday, the European Central Bank (ECB) said, “surging consumer demand across the eurozone is playing an increasing role in excessive inflation.” Additional takeaways “Some policymakers have feared – price pressures are becoming more entrenched.” “Over recent months, supply and demand factors have played broadly similar roles in (underlying) inflation.”

Gold bears move in at critical daily restaice.  The focus will be on the US jobs market at the end of the week. The price of gold is back to flat on the day in what has been a correction of this week’s rally into daily resistance near $1,730. The price fell from a high

In a letter to Treasury Committee, the Bank of England (BOE) wrote that “liquidity conditions were very poor in the run-up to the BOE gilt intervention.” Additional takeaways “The move in gilt yields last week threatened to exceed the size of the cushion for many LDI funds.” “Market repricing has been largely orderly so far

Fitch Ratings has revised the Outlook on the Bank of England’s (BoE) Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at ‘AA-‘. Fitch reports that it has ”revised the Outlook on the UK’s sovereign rating of ‘AA-‘ to Negative from Stable. The BoE’s Long-Term Foreign-Currency IDR is directly aligned

Gold price is fading its bullish momentum this Wednesday. As FXStreet’s Dhwani Mehta notes, 50 DMA appears a tough nut to crack for XAU/USD bulls. The pullback in the bullion appears temporary “A sustained break above the bearish 50-Daily Moving Average (DMA) at $1,724  is needed to challenge the September highs at $1,735, above which

USD/JPY drops on a risk-on impulse due to equities rising amidst a falling greenback and US T-bond yields. If the USD/JPY clears 144.00, the pair could tumble to 143.00. Even though RSI is at oversold conditions, the break of the 200-EMA in the hourly chart shifted the bias downwards. USD/JPY is subdued, falling for the

USD/JPY remains top-heavy just below 145. Economists at MUFG Bank expect the pair to remain supported for now. The yen is set to star its recovery next year. Dynamics driving yen weaker will ease in 2023 “It is hard to see a turn in USD/JPY now even after intervention by the MoF.” “The Fed and

USD/JPY slightly falls by 0.09% on Monday after hitting a daily high at 145.32. The Japanese Finance Minister expressed that Japan is ready to take action to stabilize the exchange rate, The short term is neutral-to-downward biased, and if it breaks below 144.00, it will pave the way for a fall to 143.90.G The USD/JPY

Gold price sees a temporary reprieve at the start of the week. XAU/USD could see selling resurgence near $1,680, FXStreet’s Dhwani Mehta reports. Risks remain skewed to the downside for gold while below 21-DMA “After last week’s recovery rally, XAU/USD needs a daily close above the bearish 21-Daily Moving Average (DMA) at $1,679. However, the

GBP/JPY registered hefty gains of 3.96% during the week. Long-term, the GBP/JPY is neutral upwards, though if it clears 162.57, that could open the door for further gains. Per the daily chart, if the GBP/JPY clears 162.25, the pair can rally towards 164.00. The GBP/JPY advanced for the fourth straight day and reclaimed the 200-day

USD/CHF prepares to finish the week with decent gains of 0.65%. The weekly chart depicts the pair as neutral-to-upward biased, further extending the uptrend but unable to crack 0.9900. The USD/CHF daily chart portrays the major as upward biased, and once it clears the 0.9886 mares, the 0.9900 figure would be next. The USD/CHF finished

GBP/USD is set to finish the week with gains close to 3%, despite the UK’s bond crisis. US PCE figures increased the likelihood of the Fed going 75 bps as Fed officials reinforced their hawkish rhetoric. The GBP/USD remains downward biased, and once it clears 1.1050, it could fall towards the 1.0800 mark. The GBP/USD

European Central Bank (ECB) must continue to raise rates even though long-term inflation expectations remain anchored, ECB Governing Council member Ignazio Visco said on Friday, as reported by Reuters. Key takeaways “Approach to policy tightening will be defined meeting by meeting based on data.” “Euro area mid-term economic prospects important to establish more appropriate final level, proceeding

FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang note EUR/USD is now expected to navigate within 0.9630 and 0.9950 in the next few weeks. Key Quotes 24-hour view: “We expected EUR to ‘trade sideways between 0.9620 and 0.9750’ yesterday. Our view was incorrect as EUR dropped to 0.9634 before surging higher

US dollar under pressure for the second day in a row. Wall Street off lows, Treasuries erase losses and DXY drops by 0.50%. EUR/USD looking at 0.9800, technical favor more gains. The EUR/USD is trading at the highest level since last Wednesday slightly below the 0.9800 mark. It is up by more than 250 pips

FX Strategists at UOB Group Quek Ser Leang and Peter Chia suggest EUR/USD could still visit the 0.9500 region in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘the bias for EUR is tilted to the downside but a clear break below 0.9530 is unlikely’. While our view was not wrong as

GBP/USD is registering minimal gains in a volatile trading session as the BoE stepped in to calm investors. Due to dysfunctional market conditions, the BoE’s QT program will be delayed until the end of October. GBP/USD Price Analysis: Range-bound around 1.0550-1.0750, with traders ready to step in an upwards/downwards break. The GBP/USD recovered some ground