FX

The Australian Dollar declines following the soft Purchasing Managers Index data release on Monday. Australia Composite PMI fell to 49.9 in July from 50.2 in June, with Services PMI decreasing to 50.4 from 51.8. The US Dollar lost ground as recent downbeat employment data boosted expectations of a Fed rate cut in September. The Australian Dollar (AUD)

DOW JONES – DJI Elliott Wave Analysis Trading Lounge Day Chart. Dow Jones - DJI Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Orange wave 3. Position: Navy Blue Wave 5. Direction next lower degrees: Orange wave 4. Details: Orange wave 2 looking completed, now orange wave 3 is in play. Wave cancel invalid level: 38900.53. The DOW JONES – DJI Elliott Wave Analysis for

Share: Equities are focused on the good news, not the risks, economists at UBS report. A resolution to the US’s debt ceiling remains elusive “While a last-minute deal remains our expectation, the current large gap between the demands from both sides mean that investors should brace for more volatility in markets in the lead-up to

NZD/USD takes the bids to refresh intraday high, bracing for the biggest daily gains in a week. Upbeat New Zealand Building Permits, softer yields direct buyers towards monthly resistance line. US ISM, S&P Global PMIs precede speech from RBNZ’s Orr, New Zealand Q3 jobs report to entertain pair traders. Hawkish hopes from RBNZ lure bulls

NZD/USD seesaws around 0.5800 amidst overall US Dollar strength. A mixed sentiment keeps some high-beta currencies trending higher, though capped by a buoyant greenback. The US 3-month/10-year yield curve is inverted, exacerbating recession fears. The NZD/USD slightly advanced during the mid-North American session, despite overall US Dollar strength, though the New Zealand dollar, after reaching

USD/INR remains mildly bid while paring the previous weekly losses. Downbeat China data, risk-off mood propel prices even as WTI crude oil drops. Hopes of RBI’s inaction join hawkish Fed bets to keep buyers hopeful. USD/INR picks up bids to consolidate the previous week’s losses around 82.40 during early Monday in Europe. In doing so,

The pound bounces up on Friday to retest the 1.5800 support area. Lower oil prices and a dovish BoC have hit the CAD. GBP/CAD: Above 1.5800, the pair eyes 1.6000 area. The British pound has performed a surprising comeback against the Canadian dollar on Friday, bouncing up from the 1.5655 area to reverse Thursday’s decline and

GBP/JPY registered solid gains during the week of 2.72%. The Bank of Japan interventions gave GBP/JPY buyers a better entry price around the weekly lows of 165.43. The GBP/JPY remains upward biased, about to test the February 2016 high at 175.01. The GBP/JPY rallies to fresh six-year highs above the 170.00 threshold as the Japanese

The US Dollar got bolstered by US core PCE but weakened towards the close of Wall Street. GDP in France and Spain weakened, while inflation in Germany continued its uptrend, above 10%. EURUSD is neutral-to-downward biased, though slightly tilted to the upside, facing strong resistance at the 100-DMA. The EURUSD finished Friday’s session almost flat

The pressure on long yields is set to ease as central bank rates and inflation approach a turning point, explained analysts at Danske Bank. They expect markets to increasingly price inflation to come under control, amid a deteriorating growth outlook. Therefore they continue to see yields peaking in 2022 (if they don’t have already in

The US dollar stalls around 147.50 after rallying from session lows near 146.00. The pair appreciates 0.8% on the day following a two-day reversal. US macroeconomic data has left the USD looking for direction.  The sharp greenback rally witnessed during Friday’s Asian and early European trading sessions, has lost steam after hitting 147.85. The pair, however,

USD/JPY fades the bounce off a three-week low as BOJ defends easy money policy. BOJ keeps monetary policy unchanged, as expected, stays cautiously optimistic on economic outlook Easing hawkish Fed bets, downbeat yields also keep pair sellers hopeful ahead of Fed’s preferred inflation data. Kuroda’s presser, Japan’s supplementary budget will also be crucial for intraday

The Bank of Japan (BoJ) will announce its monetary policy decision on Friday, October 28 at 03:00 GMT and as we get closer to the release time, here are the expectations forecast by the economists and researchers of nine major banks.  Japanese main interest rate will likely be left at -0.1%, despite inflation standing at

The sharp rise in the yuan against the US dollar retraced some of the currency’s excessive depreciation this week, helped by a fall in the US Dollar Index, the 21st Century Business Herald reported, citing analysts. Key quotes “Many asset management institutions view the yuan as undervalued against the dollar, which had rallied on expectations

The Bank of Canada (BoC) hiked its benchmark interest rate by 50 basis points (bps) to 3.75% at the end of the October policy meeting this Wednesday. The decision to slow the pace of policy tightening comes amid growing worries about a deeper global economic downturn and disappointed market participants anticipating a 75 bps rate hike.  Market

Gold price has faltered on its previous rebound as the US dollar makes a comeback. Cooling aggressive Fed rate hike calls, China concerns and dismal US tech earnings weigh on risk sentiment.  XAU/USD sees range play amid battle lines well-defined ahead of critical US events. Gold price is treading water in a familiar range around

Consumer confidence in the US deteriorated in October. US Dollar Index trades deep in negative territory below 111.00. The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index declined to 102.5 in October from 107.8 in September (revised from 108). This reading came in worse than Reuters’ estimate of 105.9.

EUR/USD bulls attempting to make a break for it  US dollar bears are pressing the bulls back below key trendline support.  EUR/USD has been drifting to the upside as the US dollar tails off below micro daily trendline support as the following will illustrate. DXY has been pressured to below 111.50 but the pace of losses