FX

EUR/USD fades bounce off weekly low as amid market’s anxiety ahead of the key data/events. ECB’s Lagarde failed to recall pair buyers amid inflation fears, yields remain pressured amid recession risks. Fed’s Powell need to defend hawkish policy moves to keep USD buyers hopeful. EUR/USD struggles to defend the early Asian session’s corrective pullback during

Consumer confidence in the US continued to weaken in June. US Dollar Index clings to strong daily gains near mid-104.00s. The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index dropped to 98.7 in June from 103.2 in May. This print came in weaker than Reuters’ estimate of 100.00. Further

NASDAQ:MULN kicked off the week on the wrong footing. EV stocks surge into the weekend as markets jump higher. Tesla received yet another price downgrade, this time from Credit Suisse. Update: NASDAQ: MULN kicked off the week on the wrong footing, tumbling 10.27% to settle above four-day lows of $1.30. The stock failed to sustain

Pending Home Sales in the US rose modestly in May. US Dollar Index stays in negative territory below 104.00. The monthly data published by the National Association of Realtors showed on Monday that Pending Home Sales rose by 0.7% on a monthly basis in May following April’s decline of 4%. This print came in better than the

GBP/USD bulls step in on US dollar weakness and eye 1.2500 Where there is a price imbalance, PI, on a 4-hour perspective on the way there that guards an order block, OB, above it.  At 1.2292, GBP/USD is up 0.16% as the US dollar falls away below a key structure on the DXY chart. The

The shared currency finished the week with decent gains of 0.21%. Sentiment remains optimistic, despite recession fears threatening. EUR/GBP Price Analysis: Remains upwards but struggling at 0.8600 might open the door for selling pressure. The EUR/GBP accelerates for the fourth day out of five in the week, set to finish with decent gains of 0.21%.

The NZD/USD erased early week losses and finished the week flat. On Friday, recession fears abated, but growing risks remain skewed to the downside. St. Louis Fed’s Bullard commented that the US economy is fine and that recession worries are exaggerated. The New Zealand dollar recorded solid gains vs. the greenback, snapping two days of

The EUR/USD is about to end the week hovering around 1.0550, with a modest gain. Analysts at Rabobank continue to see the risk of a dip back to the year’s low at the 1.0350 region on a one to three-month view. They revised lower their 12-month forecast to 1.08 from 1.10. Key Quotes:  “The move

Brexit Tensions are increasing and may weigh on the British pound in coming months, warn analysts at Danske Bank. They also point out that relative interest rates have weighed on EUR/GBP for quite some time but not anymore. Key Quotes:  “It is still worth keeping an eye on the EU-UK negotiations on the implementation of

EUR/JPY rebounds after two consecutive daily retracements. Next on the upside comes the 2022 peak past 144.00. EUR/JPY regains the 142.00 mark and beyond and at the same time leaves behind two straight sessions with losses on Friday. The bullish bias in the cross remains well and sound and the continuation of the recovery could

GBP/USD dribbles inside a bullish chart pattern after two-day inaction. Firmer RSI, horizontal support add strength to the bullish bias. 100-SMA acts as an extra filter to the north, bears could aim for yearly low on breaking 1.2160. GBP/USD treads water around 1.2260 during Friday’s Asian morning, following the last two days’ dormancy inside a

WTI price remains vulnerable amid fears of an inevitable global recession. Big build in API crude stocks, Biden’s gas tax holiday undermine oil.         Any rebound in WTI will likely get sold-off, as bears keep their sights on $100. WTI (NYMEX futures) is reversing a sell-off from the $101 level, as bears take a breather before

DXY is being sold off on the shorter-term time frames, 103.13-eyed near-term, 102.39 thereafter.  The bias remains bullish on the daily chart until a break of downside structure, or 101.297. Despite the persistent message from Fed members that there is a ”need to raise interest rates ‘a good deal more’ over the coming months,” the US dollar has

Further range bound trading within 6.6600-6.7400 is predicted in USD/CNH in the next weeks, commented FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Key Quotes 24-hour view: “Yesterday, we held the view that ‘there is scope for USD to weaken but a sustained decline below 6.6700 is unlikely’. USD subsequently dropped

GBP/USD is riding a positive wave or risk sentiment.  The bears will need to see a break of 1.22 the figure whereas bulls have sights on a break of 1.2340. At 1.2270, GBP/USD is trading on the bid between a low of 1.2239 and 1.2324. The price is currently higher by 0.24% and correcting from

Here is what you need to know on Tuesday, June 21: The US Dollar Index continues to push lower toward 104.00 early Tuesday after having closed the first day of the week in negative territory. The market mood improves in the European morning with the US stock index futures rising more than 1% following the

The Loonie begins the week on the right foot, up by 0.23%, as shown by the USD/CAD falling. An upbeat sentiment boosted the Canadian dollar while the buck weakened. USD/CAD Price Forecast: In consolidation, but it’s showing the formation of negative divergence in the daily/4-H chart, opening the door for further losses. The Loonie gained

GBP/JPY struggles for clear directions after the first weekly loss in five. Japan’s economic assessment, Kuroda’s comments fail to impress sellers amid inaction at the bond markets. UK fundamentals keep bears hopeful amid fears of economic slowdown. BOE’s Haskel, Mann could be eyed for intraday directions, UK PMIs are the key. GBP/JPY remains directionless after