FX

Australia’s first-quarter Gross Domestic Product data has been released as follows: Aussie GDP Australia Q1 real GDP +0.8 pct QoQ, seasonally adjusted,s/adj, (Reuters poll +0.5 pct).Australia Q1 real GDP +3.3 pct YoY, s/adj (Reuters poll +2.9 pct).Australia Q1 final consumption expenditure +1.9 pct, s/adj.Australia Q1 gross fixed capital expenditure +0.7 pct, s/adj.Australia Q1 chain price index

AUD/USD pulled back from a three-and-half-week high touched earlier this Tuesday. The risk-off impulse weighed on the risk-sensitive aussie amid resurgent USD demand. A sustained break below 0.7100 is needed to support prospects for additional losses. The AUD/USD pair witnessed a modest pullback from a three-and-half-week high, levels just above the 0.7200 mark touched earlier

EUR/USD has been dragged to near 1.0740 on extremely hawkish comments from Fed Waller. Fed Waller advocates a spree of 50 bps interest rate until the Fed finds a substantial cut in CPI. The eurozone HICP is expected to land sharply higher than the estimates. The EUR/USD pair has witnessed an intense vertical fall in

GBP/USD Forecast: Acceptance above 1.2600/38.2% Fibo, favor bulls amid weaker USD The GBP/USD pair edged higher on the first day of a new week, albeit lacked follow-through buying and remained below a one-month peak touched on Friday. Market participants now expect that the Fed could pause the rate hike cycle after two 50 bps hikes

USD/CAD is bracing a sheer downside move below 1.2718 ahead of hawkish BOC. Canada’s CPI at 6.9% is compelling a jumbo rate hike by the BOC this week. The DXY is likely to dance to the tunes of the US NFP. The USD/CAD pair is oscillating in a narrow range of 1.2718-1.2728 in the early

The Australian dollar extends its weekly rally to two straight weeks, up 1.68%. The AUD/USD rises on positive Australian and US economic data as recession fears wane and expectations for a non-aggressive US Fed. Next week, the US economic docket will be busy and will feature releases of ISM PMIs, Fed speakers, and employment data

The shared currency is about to finish the week with 1.66%. US Core PCE rose by 4.9% YoY, lower than March’s 5.1% reading; will the Fed diminish the speed of rate hikes? EUR/USD Price Forecast: Its long-term bias remains bearish, but a rally towards 1.0800 in the near term is on the cards. The EUR/USD

US dollar continues to pullback across the board. Yen loses momentum in the market amid risk appetite. USD/JPY fails to benefit from the rally in Wall Street. The USD/JPY is about to end the week trading around 127.00. The pair bottomed on Tuesday at 126.35, the lowest level in five weeks and then rebounded finding

The USD/INR is about to end the week modestly lower, pulling back from record levels. The chart shows the primary trend is bullish and strong. According to analysts at Wells Fargo, the rupee will continue to decline versus the US dollar, at a gradual pace.  Key Quotes:  “The Indian rupee recently hit an all-time record

EUR/USD advances to fresh monthly peaks near 1.0770. Extra gains now target the resistance line near 1.0820. EUR/USD comes under pressure soon after clinching new highs in the vicinity of 1.0770 on Friday. Considering the pair’s current price action, the continuation of the rebound looks likely in the very near term at least. That said,

The EUR/JPY remains firm in the week, advancing 1.02%. On Thursday, BoJ Kuroda’s hawkish commentary did not weigh on the EUR/JPY. EUR/JPY Price Analysis: To fall towards 132.50 once the rising wedge break is achieved. The EUR/JPY marches firmly inside a “rising wedge” above the 50-day moving average (DMA), advancing for the third day out

Economist at UOB Group Enrico Tanuwidjaja reviews the latest interest rate decision by the Bank Indonesia (BI). Key Takeaways “Bank Indonesia (BI) kept its benchmark rate (7-Day Reverse Repo) unchanged at 3.50% at its May MPC meeting. Consequently, BI maintained the Deposit Facility rate at 2.75% as well as the Lending Facility rate at 4.25%.”

At $1,851, the price of gold is down around 0.8% on the day as the US dollar breaks higher from a two-day losing streak on Wednesday. The yellow metal has slid from a low of $1,841.60 to a high of $1,868.11 so far on the day but has found some solace on the basis that there has

Gold Price snaps a five-day uptrend, as the US dollar stages a solid rebound. US Treasury yields remain on the back foot ahead of the FOMC minutes. Strong support at $1,850 could limit the pullback in XAUUSD from two-week highs. Gold Price is retreating from two-week highs of $1,870, as tensions mount in the lead-up

Snap announces it will not reach 20% revenue growth goal in Q2. CEO Evan Spiegel says inflation, rising interests are biting into business. SNAP stock now has only covid low as support. Update: SNAP shed 43.08% on Tuesday, following a 30% decline on Monday, as investors are still digesting the poor earnings result. The share

Eurozone Manufacturing PMI arrives at 54.4 in May vs. 54.9 expected. Bloc’s Services PMI falls to 56.3 in May vs. 57.5 expected. EUR/USD falls off the highs on the downbeat Eurozone PMIs. The Eurozone manufacturing sector expansion fell short of expectations in May, the latest manufacturing activity survey from S&P Global research showed on Tuesday. The Eurozone

Gold (XAU/USD) begins the week on the right foot, up 0.54% in the week. A softer buck and concerns of the US falling into a recession courtesy of an aggressive Fed lifts the prospects of the yellow metal. Gold Price Forecast (XAU/USD): Bulls need to reclaim the 20-DMA, if not a re-test of the 200-DMA

DXY starts the week on the offered stance near 102.60. US yields extend the corrective downside on Monday. Chicago Fed Index, Fedspeak next on tap in the docket. The greenback extends the bearish move and drops to new 3-week lows in the 102.60/55 band when tracked by the US Dollar Index (DXY) on Monday. US