Month: June 2022

EUR/USD comes under pressure near 1.0700. German 10y Bund yields approach 1.40%. The ECB is expected to keep the policy rate unchanged. The single currency wobbles between gains and losses and motivates EUR/USD to trade within a volatile note around the 1.0700 region on Thursday. EUR/USD focuses on the ECB EUR/USD trades in an unresolved
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June 9: Gold inched lower on Thursday, with prices restrained by rising Treasury yields ahead of key U.S. jobs and inflation data this week. FUNDAMENTALS * Spot gold was down 0.1% at $1,852.21 per ounce, as of 0052 GMT, while U.S. gold futures also eased 0.1% to $1,853.90. * Benchmark U.S. 10-year Treasury yields firmed
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Trade data from China for May. Lockdown restrictions eased back in the month. China trade balance CNY 502.89BN: expected CNY 448.9bn, prior was CNY 325.1bn Exports +15.3% y/y: expected +13.1%, prior was +1.9% Imports +2.8% y/y: expected 2.0%, prior was 0.0% USD terms China trade balance: US$78.76bn expected $58.0bn, prior was $51.1bn Exports: +16.9% y/y
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What you need to take care of on Thursday, June 9: Trading was choppy across the FX board, with most major pairs holding on to familiar levels, except for the USD/JPY pair, which surged to a fresh 20-year high of 134.47. The imbalance between the US Federal Reserve and the Bank of Japan boosted the
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The New York State Department of Financial Services (DFS) on Wednesday released regulatory guidance for U.S. dollar-backed stablecoins issued by DFS-regulated entities. According to a DFS statement, it is the first regulator in the United States to impose such expectations on a stablecoin issuer. The requirements in the guidance concern redeemability, reserves and attestation. They
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Brent Crude has continued to surge with a huge spike seen during February-March 2022, mainly led by the Russia-Ukraine conflict. Since then, Brent Crude has broadly been consolidating between $116-95. On the monthly timeframe, we have observed Fibonacci Extension from the October 2018 peak to the March 2020 lows. Critical resistance for the commodity is
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USDCAD stays below the 100 hour moving average The USDCAD has moved to a new session low and in the process has made a new low for the 10th consecutive day. Yesterday the low came in at 1.25228. The low price just reached 1.25166. Over those 10 days, the price has been down 8 of
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One day before the ECB meeting tomorrow, the major European  indices  are closing lower on the day. The ECB is expected to keep rates unchanged as they and the asset purchase program and gear up for the rate launch in July. Traders will be looking for clues on whether the Hawks will be successful in
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The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in anticipation on a hawkish ECB policy decision and press conference tomorrow. The central should without
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