FX

The S&P 500, the Dow Jones, and the Nasdaq Composite recorded losses in a risk-off market mood. Fed speakers in the week support 50-bps rate hikes at the May 4-5 meeting. US Treasuries and the greenback finished the week higher amidst hawkish Fed comments. US equities finished the week with substantial losses, reflecting a gloomy

USD/CAD rallied roughly 140 pips on Friday to hit its highest level in over one month above the 1.2700 mark. That marks the largest one-day percentage gain since November. The pair rallied as a function of risk-off flows, with recent BoC hawkishness and strong data failing to support CAD. USD/CAD rallied roughly 140 pips on

Cleveland Fed President and FOMC member Lorreta Mester, speaking in an interview on CNBC, said on Friday that the Fed wants to see tighter financial conditions, though not all at once. “We are in a recalibration phase for monetary policy,” she said, adding that the Fed’s goal is to bring inflation under control, but also

USD/CAD gained strong positive traction for the second successive day on Friday. Weaker oil prices undermined the loonie and acted as a tailwind amid stronger USD. Investors look forward to Canadian Retail Sales, flash US PMIs for a fresh impetus. The USD/CAD pair added to its intraday gains and shot to its highest level since

The Australian dollar gave back Wednesday’s gains, losses of 1%. Fed Chief Jerome Powell spooked investors as he said that a 50-bps increase in May is “on the table.” More Fed officials add to the chorus of hawks expecting a 50-bps increase. AUD/USD Price Forecast: A tweezers-top in the daily chart opened the door for

GBP/USD attracted some dip-buying on Thursday amid the emergence of fresh USD selling. Bets for more aggressive Fed rate hikes, rising US bond yields should limit the USD losses. Investors seemed reluctant ahead of BoE Governor Bailey and Fed Chair Powell’s speech. The GBP/USD pair climbed to a one-week high, around the 1.3080-1.3085 region during

NZD/USD bulls come up for air and US dollar sinks.  US yields have corrected and the market gives a sigh of relief.  Trading at 0.6804, NZD/USD is firmly bid just over 1% higher on the day as Wall Street draws to a close. The US dollar was sliding as US yields corrected which gave a

Strategists at Credit Suisse raise their expected range for USD/ZAR slightly to 14.50-15.50 and like to buy dips around 14.40. USD/ZAR downside is limited “We raise our expected range for USDZAR slightly to 14.50-15.50 (from 14.00-15.00) and drop our short-term target of 14.30.” “A few factors suggest that USD/ZAR downside is limited: the current account

Russia is carrying out the “prelude” to a larger expected offensive operations in eastern Ukraine, a senior US defense official said on Monday according to Reuters. About seven flights of weapons are heading to Europe in the next 24 hours carrying weaponry for Ukraine, the official added. Russian has about 75% of its pre-invasion combat

The minutes of the Reserve Bank of Australia (RBA) signaled that the first rate hike may not be too far off, as they expect inflation to further increase above target. This should keep the Australian dollar well bid in the coming months, economists at MUFG Bank report. RBA rate hikes in focus “The release of

In a subdued, holiday-thinned start to the trading week, USD/CAD has traded in thin ranges just above the 1.2600 level. Higher oil prices have prevented the pair from being lifted above its 200 and 50DMAs by the buoyant buck. Focus this week will be on Fed Chair Powell’s Thursday speech and on Wednesday Canadian CPI

Loonie bulls are firmly defending the 50% Fibo retracement at 12652. The RSI (14) is expected to face resistance at 60.00. The greenback bulls are still hopeful amid ascending 21- and 50-period EMAs. The USD/CAD pair witnessed a bullish open-drive session on early Monday amid strength in the US dollar index (DXY). Right from the

Reuters reported that the Ukrainian Foreign Minister Dmytro Kuleba said there had not been any recent diplomatic communications between Russia and Ukraine at the level of their foreign ministries and that the situation in the port of Mariupol, which he described as “dire”, may be a “red line” in the path of negotiations. Russia offered

Risk-aversion keeps the Australian dollar under pressure, down in the week by 0.86%. Mixed Australian economic data, a headwind for the AUD/USD. Hot US inflation boosts the prospects of a higher US dollar as the Fed prepares for a 0.50 bps increase. AUD/USD Price Forecast: A weekly close below 0.7400 would open the door to

GBP/USD to finish the week under 1.3100 on a firm US dollar The British pound remains defensive, trading below the 1.3100 mark, on the back of a buoyant US dollar amidst a dull trading session as financial markets are closed In the observance of Easter Friday. The GBP/USD is trading at 1.3061 at the time

The GBP/USD is gaining up some 0.18% in the week amidst a thin liquidity trading session. A buoyant US dollar and risk-aversion weighed on the British pound in the week. GBP/USD Price Forecast: To remain downward biased but a double bottom looms. The British pound remains defensive, trading below the 1.3100 mark, on the back

NASDAQ:GGPI fell by 0.59% during Thursday’s trading session. The Polestar 2 receives a solid review from Tom’s Guide. Tesla tumbles after Musk makes a bid to buy Twitter. NASDAQ:GGPI traded lower in the last abbreviated session before the markets closed for the Easter long weekend. On Thursday, shares of GGPI dipped by 0.59% and closed

NZD/USD eyes more weakness on rising odds of an interest rate hike by the Fed. The RBNZ has hiked its OCR by 50 bps to reduce the risks of inflation. FOMC member John Williams advocated a 50 bps interest rate elevation by the Fed. The NZD/USD pair is hovering around Thursday’s low at 0.6767 and