FX

NYSE:NIO ends Monday barely up above $20.00 per share.  AliBaba executives were questioned regarding a cyber security breach. BYD stock tumbles on fears that Warren Buffett is selling his stake in the EV maker. Update: NIO share trimmed early gains and finished Monday at $20.85, barely 0.63% up on the week’s first trading day. Wall

The company is developing a novel, non-invasive, bio-guided treatment to restore function of patients with acute spinal cord injuries. Breakthrough therapy for spinal cord injuries (SCI) Over two hundred and fifty thousand people suffer from spinal cord injuries in the US every year, with patients typically experiencing major, and mostly irreversible, loss of function that

USD/JPY gained 1.80% in the week, extending its rally to the seventh consecutive week. USD/JPY Price Analysis: Divergence between price action and RSI spurred a pullback, though a daily close below 137.70 would tumble the USD/JPY towards 134.26. The USD/JPY retreats from YTD highs at around 139.38, towards the middle of the 138.00-139.00 range on

GBP/USD Weekly Forecast: A technical rebound could be in the offing Having tested levels below 1.1900 a week ago, GBP/USD lost further ground and hit a new 28-month low of 1.1760 amid a combination of factors that worked against the British pound. The US inflation stood out in the week and added extra legs to

EURUSD trades above 1.0060 and trims its weekly losses, down 1.03% in the week. US Retail Sales and UoM Consumer sentiment exceed estimations, easing prospects of a 100 bps Fed hike. Interest rate differentials between the Fed and the ECB boost the EURUSD fall. EURUSD buyers stepped in vigorously, defending the euro from falling below

FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang noted that a sustained breach of 0.9920 in EUR/USD looks unlikely for the time being. Key Quotes 24-hour view: “We expected EUR to ‘trade in a choppy manner between 1.0000 and 1.0100’ yesterday. However, EUR plummeted to a low of 0.9950 before rebounding

“I think it is plausible that we have a growth recession where it goes below longer-run average but doesn’t go negative,” Federal Reserve Governor Christopher Waller said on Thursday, as reported by Reuters. Additional takeaways “For me, 75 bps hike at this meeting gets us to neutral.” “Recent jobs numbers are amazing figures.” “Inflation expectations data

Fake breakdown of the descending triangle has strengthened the aussie bulls. The asset has captured the 50-period EMA at 0.6764 confidently. A decisive move above 60.00 by the RSI (14) will accelerate the odds of a bullish reversal. The AUD/USD pair is marching towards the round-level resistance of 0.6800 after sensing a responsive buying action.

Following the Bank of Canada’s (BOC) decision to hike the policy rate by 100 basis points to 2.5% in July, Governor Tiff Macklem is delivering his remarks on the policy outlook and responding to questions from the press. Key takeaways “Front-loading interest rate response will help cool domestic inflationary pressures.” “100-bp hike reflects concern that

USD/INR fails to extend the previous day’s pullback from record top. Oil prices cheer US dollar pullback from 20-year, cautious optimism. US CPI for June appears the key for near-term market directions. USD/INR picks up bids to 79.54, reversing the pullback from an all-time high, as buyers cheer firmer oil prices during Wednesday’s Asian session.

The Japanese yen strengthened on verbal intervention by the Japanese Finance Minister Suzuki. On Tuesday, the USD/JPY tumbled towards a daily low of around 136.50 before settling near the June 21 highs. USD/JPY Price Analysis: The major remains upward biased, but a rising wedge has formed, which targets a fall towards 129.50. The USD/JPY retreats

Japan Finance Minister Shunichi Suzuki is out on wires now, via Reuters, expressing concern about the falling yen, noting that it has recently been rapid. Additional quotes Will monitor FX closely with a strong sense of urgency. Will take appropriate measures, if necessary, on FX. Closely communicating with other countries FX authorities. Meanwhile, Japan’s Chief Cabinet

USD/JPY caught aggressive bids on Monday and rallied to a fresh 24-year high. The Fed-BoJ policy divergence weighed on the JPY and remained supportive. Technical buying above the 137.00 mark contributed to the strong move up. The USD/JPY pair added to its strong intraday gains and rallied further beyond the mid-137.00s, to a fresh 24-year

EUR/USD bears have sunk in their teeth as the US dollar starts off strong. The US data on Friday is being digested with more to come this week in CPI and Retail Sales. EUR/USD is under pressure in the Tokyo equities morning session as the greenback rallies into the peak formation formed on Friday as

June’s US Nonfarm Payrolls report exceeded expectations, further cementing the case for a Fed’s 75 bps rate hike. The consensus amongst ECB policymakers is for a 25 bps rate hike in July; September is still open. EUR/USD Price Analysis: Sellers in control might take a breather before launching an assault towards parity. EUR/USD remains subdued

The USD/JPY has been trading in a choppy 100 pip range for the last five days. The major seesawed spurred by the assassination of Japan’s ex-PM Abe and upbeat US economic data. USD/JPY Price Analysis: Range-bound, but the RSI’s aiming lower and USD/JPY uptrend overextended, might pave the way for further downside. USD/JPY is subdued as

Wall Street turns positive on Friday, helping MXN. US jobs report shows better-than-expected numbers. USD/MXN corrects lower, the trend is still bullish. The USD/MXN is modestly lower on Friday still up for the week. It bottomed at 20.36, a three-day low before bouncing to the 20.45 zone. The outlook remains bullish for the pair. Fed

During the week, the Swiss franc is still under heavy pressure, losing more than 2%. Broad US dollar strength across the board underpins the USD/CHF. USD/CHF Price Analysis: The pave towards parity is clear, but 0.9800 and 0.9975 are still on the way for USD/CHF buyers; otherwise, a re-test of 0.9700 is on the cards.