FX

The Financial Times (FT) quotes a Bloomberg survey of economists to raise expectations that the US may avert technical recession during its flash readings of the Q2 Gross Domestic Product (GDP) Annualized, expected 0.4% versus -1.6% prior, scheduled for Thursday. “The US is expected to report weak second-quarter growth on Thursday following a contraction in

US Dollar recovers strength during the American session, remains in recent range. FOMC to announce its decision at 18:00 GMT. NZD/USD near key support of 0.6185/90. The NZD/USD broke below 0.6220 and slide to 0.6196, hitting a six-day low. The pair holds a negative bias ahead of the FOMC statement and as the dollar strengthens.

Gold price is displaying back and forth moves in a $4 range as investors await Fed policy. A slowdown in US economic indicators states that the option of a 1% rate hike by the Fed is not viable. S&P500 futures have rebounded after displaying losses on Tuesday and may underpin the risk-on again. Gold price

EUR/USD loses further ground and approaches 1.0100. The greenback reverses the initial decline and surpasses 107.00. US CB’s Consumer Confidence came at 95.7 in July. Sellers quickly returned to the European currency and dragged EUR/USD to fresh multi-session lows in the vicinity of 1.0100 on Tuesday. EUR/USD offered ahead of FOMC EUR/USD rapidly abandoned the

GBP/USD takes the bids to refresh intraday high, print four-day uptrend. Fears of US economic slowdown, softer data join downbeat yields to weigh on US dollar. BOE hawks struggle amid UK PM race, inflation concerns in Britain. Talks surrounding UK politics, US Consumer Confidence for July will be important ahead of Wednesday’s FOMC. GBP/USD grinds

USD/TRY starts the week on a positive note and approaches 18.00. Lack of investors’ confidence and rampant inflation weigh on the lira. Türkiye Capacity Utilization improved to 78.2% in July. The selling pressure continues to hurt the Turkish lira and lifts USD/TRY to fresh 2022 highs around 17/85, an area last visited in December 2021.

The formation of inventory distribution involves the initiation of longs by the market participants. Overlapping of 20- and 50 EMAs to the price dictates a consolidation ahead. A volatility expansion after a squeeze will result in volumes and wide-range ticks. The EUR/USD pair is looking for a cushion around 1.0180 after a steep correction in

EUR/JPY finishes negative in the week, down by 0.48% as the yen shows signs of strength. Deteriorated market mood, augmented appetite for safe-haven peers. EUR/JPY Price Analysis: In the near term is downward biased, eyeing a fall below 137.00. The EUR/JPY plummets from weekly highs hit on Thursday at 142.32, drops more than 160 pips

The GBP/JPY finished the week with decent losses of 0.68%. July’s worldwide reported S&P Global PMIs resurfaced recession concerns in the financial markets, shifting sentiment sour. GBP/JPY Price Analysis: In the short-term downward biased unless buyers reclaim 164.00; otherwise, losses would extend towards 161.80. The GBP/JPY slides for the third straight day creep below the

Analysts at MUFG Bank hold onto a short EUR/USD trade idea and see it moving below parity. They consider the euro will be affected by ongoing fears over disruption to the Eurozone economy and fragmentation risks.  Key Quotes: “We expect the EUR to remain under downward pressure in the near-term driven by ongoing fears over

AUD/USD is set to finish the week up by 2.23%. US Services and Composite PMIs plummeted below 50, suggesting a recession could be near. Hawkish RBA minutes revealed during the week cushioned the AUD/USD from falling further on weak Aussie PMIs. The AUD/USD rises for the second consecutive day, registering solid gains amidst a fragile

Here is what you need to know on Friday, July 22: Equity markets just about held the positive narrative on Thursday with Tesla leading the Nasdaq higher as it surged 8% on the back of positive earnings. However, after the bell things turned ugly as Snap (SNAP) showed that advertising never holds up well in a recession,

EUR/GBP is juggling in a minute range of 0.8520-0.8527 as investors await UK Retail Sales. The ECB paddled up its interest rates surprisingly by 50 bps. A slippage in UK Retail Sales is likely to weaken the pound bulls. The EUR/GBP pair is displaying back and forth moves in a narrow range of 0.8520-0.8527 in

Today’s instrument is the Intel Corp.’s stock traded in NASDAQ exchange under the ticker INTC. When we look at the INTC ‘s chart, we see that it has been in an upward trend in the past days, currently traded at the closed price of around $40.55. Today if failed to continue that upward trend, then

Italian Prime Minister Mario Draghi won a confidence motion in the upper house Senate on Wednesday, but three main coalition parties refused to take part in the vote, effectively dissolving his administration and he is said to announce his resignation in the chamber tomorrow. The motion asked the house to approve a speech made by Draghi

USD/CAD languished near a two-week low amid the prevalent USD selling bias. Softer crude oil prices could undermine the loonie and help limit the downside. Investors await the Canadian CPI report before placing fresh directional bets. The USD/CAD pair edged lower for the fourth successive day on Wednesday and was last seen trading near a

Recent earnings announcements haven’t been pleasant experiences for Netflix shareholders. The last two have resulted in sharp falls in the Netflix share price, with the most recent Q1 announcement sending the shares back to levels last seen almost 5 years ago. Since the record highs of November last year, the shares have fallen over 70%,

European Union (EU) commissioner for budget and administration Johannes Hahn said on Tuesday, the European Commission doesn’t expect gas supplies to Europe from Russia through the Nord Stream pipeline to restart from this Thursday, according to the Wall Street Journal (WSJ). Hahn said: “We’re working on the assumption that it doesn’t return to operation.” The