FX

AUD/USD is about to finish the week with losses of 1.10%. A bearish-engulfing candle pattern and the RSI’s crossing below 50 are two reasons that could tumble the AUD/USD. AUD/USD sellers eye a break below 0.6900, on its way towards 0.6800. The AUD/USD drops substantially, courtesy of upbeat US economic data, which sent the major

At its latest meeting, the Reserve Bank of Australia (RBA) raised the key interest rate by 50 basis points to 1.85%. According to analysts at Wells Fargo, the RBA will likely raise again in September but with a 25 bps rate hike. They see the rate peak at 3.10% by early next year. Key Quotes: 

Gold price extends its gains to three straight weeks, up 0.54%. Stellar US jobs data exerts further pressure on the Fed, as next week CPI is eyed. US-China tussles add further uncertainty to the global economic outlook. Gold price remained on the defensive late during the New York session after an early US employment report

UOB Group’s Head of Markets Strategy Heng Koon How, CAIA, Senior FX Strategist Peter Chia, Rates Strategist Victor Yong and Markets Strategist Quek Ser Leang assess the ongoing recession fears and its effect on the long term yield. Key Takeaways “The Recession vs Inflation debate has intensified and taken an interesting turn. For now, it

The GBP/JPY prepares to finish the week with losses of almost 0.50%. The cross-currency daily and hourly charts suggest that a mean reversion move towards 162.83 could be on the cards. The GBP/JPY plummeted on Thursday, failing to crack the 50-day EMA at 164.12, so the pair tumbled towards its daily low at 161.12 before

NYSE:GME gained 5.83% during Wednesday’s trading session. AMTD Digital stock tumbles by more than 35% during intraday trading. AMC jumps higher again as short sellers feel pressure ahead of earnings. NYSE:GME extended its winning streak to six straight sessions on the strength of a broader market rally and a resurgence of meme stock hysteria. Stocks

USD/CHF has picked bids around 0.9600 after a healthy correction. The DXY surrendered gains after the release of the upbeat US ISM Services data. This week, the release of the US NFP will be the key event for the FX domain. The USD/CHF pair has attempted a rebound after a corrective action towards the critical

Gold regains positive traction on Wednesday amid escalating US-China tensions over Taiwan. The emergence of fresh USD selling turns out to be another factor lending support to the metal. The overnight hawkish remarks by several Fed officials keep a lid on any meaningful upside. Gold attracts some dip-buying near the $1,755 region on Wednesday and

NZD/USD is under pressure as the US dollar bounces back. Unemployment data will be an important feature on the NZ calendar.  NZD/USD is down o the day by some 1.17% with the price falling from a high of 0.6343 to a low of 0.6253. The greenback has picked up a safe haven bid relating to

AUD/USD remains sold-off into dovish RBA tone and US-China woes over Taiwan. RBA hikes key rates by 50 bps but says it’s not on a pre-set tightening path. A potential rising channel breakdown on the 1D targets 21 DMA at 0.6873. AUD/USD is holding the lower ground above 0.6900, losing nearly 1.50% on the day, as

What you need to take care of on  Tuesday, August 2: The greenback edged lower on Monday, although the slide pared mid-US session as Wall Street lost its earnings-inspired strength and lost some ground. Market participants remained focused on the risk of a global recession. At the beginning of the day, China published the official

USD/CNH is still seen within the 6.7280-6.7800 range for the time being, commented FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Key Quotes 24-hour view: “We highlighted last Friday that ‘the outlook remains mixed’ and we expected USD to ‘trade between 6.7350 and 6.7650’. USD subsequently dropped sharply but briefly to

GBP/USD extends its gains to two straight weeks, gains some 1.49%. From a daily chart perspective, the GBP/USD is still downward biased, facing solid resistance around 1.2200. GBP/USD Price Analysis: Unless buyers reclaim 1.2245, the pair remains tilted downwards. The British pound finished the week on the right foot and recorded its second consecutive week

The three major US equity indices advanced between 0.97% and 1.88%. A risk-on impulse since last Wednesday underpinned US equities, lifted by US corporate earnings of Amazon and Apple. The US Dollar Index fell below 106.000, while the US 10-year T-note yield finished around 2.654%. US equities finished the week on a higher note, as

US dollar loses momentum late on Friday amid lower US yields. EUR/USD practically flat for the week remains sideways. Price keeps moving below 1.0260 and supported by 1.0100. The EUR/USD printed a fresh daily low during the American session at 1.0145 and then rebounded back above 1.0200, amid lower US yields and higher equity prices in

Some of the shine has been taken of the strong US dollar but case for more sustained and deeper sell off is not yet compelling, explained analysts at MUFG Bank. They consider that global growth fears are supportive for the greenback. They added the Federal Reserve policy pivot is not yet sufficiently dovish.  Key Quotes:

GBP/JPY stays offered at two-week low, extends the previous day’s losses. Clear break of 100-DMA, ascending trend line from May joins downbeat oscillators to favor sellers. Bulls need a successful run-up beyond 166.35 to retake control. GBP/JPY stands on slippery grounds as bears smash the 162.50 support confluence heading into Friday’s European session. With this,

Australian dollar pulls back versus greenback, still above FOMC levels. US dollar hit by lower US yields after economic data. AUD/USD retreats from 0.7000, and holds a bullish bias. The AUD/USD printed a fresh daily low during the American session at 0.6954. It is attempting to recover momentum supported by an improvement in market sentiment