FX

Western Texas Intermediate (WTI) s set to finish the week with losses of 0.55%. China’s demand and a soft US Dollar underpinned oil prices. WTI buyers unable to crack the 50-day EMA keeps the commodity downward biased. WTI is about to finish Friday’s trading session almost flat, as Wall Street ended the day with hefty

The Federal Reserve is laying the ground to shrink the size of upcoming interest rate hikes, weighed on the US Dollar. Falling US bond yields undermined the USD and boosted the EUR. The EURUSD is downward biased, though a break above 0.9900, could propel the EURUSD higher. The US Dollar tumbled as traders braced for

The aussie bounces up from 0.6210 and erases the previous two days’ losses. Fed speculation and BoJ intervention hit the USD. AUD/USD is expected to remain capped below 0.6390. The Australian dollar has featured a strong recovery on Friday’s US trading session. The pair bounced up from session lows at 0.6210, rallying all the way

USD/CHF is set to finish the week with losses of 0.45%. Failure to reclaim 1.0027 would confirm the USD/CHF rising wedge break, which would target the 200-day EMA at 0.9567. USD/CHF retraces from daily highs reached in the North American session around 1.0147 but trimmed its gains, plunging below 1.0000 towards its daily low at

USD/BRL recently defended the bullish gap near 5.01 resulting in a steady bounce. Only a dip below here would risk a deeper pullback, economists at Société Générale report. USD/BRL to target 5.51 if 5.42 gives way “USD/BRL is evolving within two converging trend lines forming a symmetrical triangle. The pattern denotes a clear direction is

USD/JPY bears looking for fuel into critical support structures. 149.00 is beckoning as risks of BoJ forex market operations hangover head.  Attempting to draw technical analysis on a market that is so out of whack with normality is a tall order if not just outright futile, but USD/JPY has rallied to draw droppingly high levels as

NASDAQ: MULN gained 57.1% during Wednesday’s trading session.  Mullen Automotive completes its acquisition of Electric Last Mile Solutions.  The EV maker is also set to produce its first 300 electric delivery vans for DelPak. Mullen Automotive (MULN) skyrocketed on Wednesday after a recent acquisition deal was officially completed. The company also provided plans for development

Federal Reserve Bank of St. Louis President James Bullard left open the possibility that the central bank would raise interest rates by 75 basis points at each of its next two meetings in November and December while saying that he won’t predate what rate move he backs at the December FOMC meeting. The Fed hiked

Japanese Finance Minister Shunichi Suzuki said on Wednesday that he is communicating frequently with the Ministry of Finance FX Chief. He added that there is “no change to thinking on forex.” Market reaction At the time of writing, USD/JPY is holding higher ground near 32-year highs at 149.49, up 0.14% on the day.

US dollar is not going down without a fight, supported at key levels. The embded fundamentals could see the greenback resurge this week. The greenback, as measured by the DXY index vs. a basket of currencies, moved a touch higher against a basket of currencies on Tuesday, resurging from the lows seen in the prior

UK government action triggers broader relief rally for risk assets. However, this is just a temporary setback for the US dollar, economists at MUFG Bank report. GBP unlikely to continue to strengthen once the initial relief rally fades “We are not convinced that the UK’s weak macro fundamentals justify the pound continuing to strengthen once

The Japanese yen hits a new 32-year low. Will the BoJ intervene again this week? USD/JPY has pierced the 149.00 level as per the following 5-month chart: The bull eye the prospects of running up to the psychological level of 150 where speculating lies for further intervention from the Japanese authorities. At the start of the week, Japan’s

Tesla has some broad issues that are a real challenge for the stock price right now. More and more main car manufacturers are getting their Electric Vehicles to market. On top of this, a recession looms for the US. High US inflation last Friday means that if the US faces a hard landing then demand

The dollar breaks above parity and reaches a two-year high at 1.0065. Hopes of Fed tightening are boosting the US dollar. USD/CHF: Above 1.0074/98, higher targets are likely – Credit Suisse. The US dollar has extended its rally against the Swiss Franc on Friday, breaking finally above the parity level, to test May highs at

GBP/JPY erases some of its gains, set to finish the week with more than 3% gains. GBP/JPY traders mainly ignored UK’s political turmoil. The cross-currency is range-bound, as depicted by the one-hour chart. The GBP/JPY trims some of its Thursday’s losses but remains nearby weekly highs at around the 166.00 area, despite UK’s political turmoil,

AUD/USD finished the week with substantial losses of 2.61%. On Friday, the AUD/USD seesawed on a 200-pip range, notably reaching a weekly close below 0.6200. AUD/USD Price Forecast: To tumble to 0.6100 if sellers clear the YTD low; otherwise, a move towards 0.6300 is on the cards. On Friday, the Australian dollar finished the week

Data released on Friday showed retail sales remained unchanged in September compared to August. Stripping volatile retail segments suggests some modest upward risk to third-quarter goods spending, explain analysts at Wells Fargo. They point out that the report adds to recent evidence that consumer staying power may be waning, but it’s showing few signs of

The US dollar appreciates again on Friday and approaches 1.3800. A mixed US Retail Sales report has been overlooked. USD/CAD seen appreciating beyond 1.4000 – TDS. The US dollar firmed up on Friday to retrace most of the previous day’s losses. The pair has reached a session high at 1.3875, after bouncing near 1.3700 earlier