FX

NZD/USD gained traction for the second successive day and shot to a fresh YTD high on Tuesday. The uncertainty over Ukraine underpinned commodities and benefitted the resources-linked kiwi. Signs of stability in the equity markets undermined the safe-haven USD and remained supportive. The NZD/USD pair climbed to a fresh YTD top during the early part

AUD/JPY rallied above 92.50 on Monday and is now over 2.0% higher versus last Thursday’s lows. Buoyant commodity prices and advancing equities made for a bullish mix for the pair. Focus now turns to the upcoming RBA meeting as markets brace for a hawkish shift. In a strong start to the week for AUD/JPY, the

Today’s instrument is the Alibaba Group Holding Ltd ‘s stock traded in NYSE exchange under the ticker BABA. When we look at the BABA ‘s chart, we see its run from the $114 range on at the start of last week, to the $118 range, briefly reaching highs of $120 but then experiencing a retraction

While NATO believes the military conflict in Ukraine will continue, there is a glimmer of hope stemming from last week’s peace talks that has been updated in the following article: However, Vladimir Putin’s meeting with Volodymyr Zelenskyy will only take place after the development of a specific written document by the Russian Federation and Ukraine, Dmitry Peskov,

Gold slumps for the third day of the week amid an upbeat market mood and rising US yields. The 2s-10s yield curve inverted for the second time in the week as investors expect the US economy will slow down. Mixed US economic data was mainly ignored by XAU/USD traders. XAU/USD Price Forecast: In consolidation within

GBP/USD Weekly Forecast: Little hope for bulls, as focus shifts to Fed minutes After charting a Doji candlestick in the previous week, sellers returned this week and left GBP/USD in close proximity to two-week lows of 1.3050. The divergent monetary policy outlooks between the US Fed and Bank of England (BOE) weighed heavily on the

The greenback remains buoyant in the session, weighing on the Japanese yen. Upbeat US macroeconomic data boost US Yields. The yield curve is inverted in 2s-10s and 5s-30s. USD/JPY Price Forecast: The uptrend remains intact and might exacerbate an upward move towards 125.00 if it reclaims 123.00. The USD/JPY recovers after dipping 350-pips in the

EUR/JPY rebounded into the mid-135.00s as the yen suffered from higher yields and the euro benefitted from hot EZ inflation.  ECB rhetoric was also notably more hawkish and, as a result, short-term EUR/JPY bulls are eyeing a retest of 137.00.  EUR/JPY rebounded back into the mid-135.00s on Friday as higher yields, particularly in the US weighed

Much of the CAD upside has come over recent sessions with USD/CAD losing ground during 14 of the last 16 trading days. Economists at Rabobank expect the pair to edge lower towards 1.24 over the next quarter. Room for USD/CAD to rise back above 1.26 in the second half of 2022 “We have revised our

GBP/USD on the verge of a bearish weekly close. Bears are seeking a fill of the weekly wick and a downside extension.  The following illustrates the pound’s bullish trajectory on the daily chart in an M-formation as per prior analysis and live updates: GBP/USD daily chart The chart above was from the prior day’s close. The price attempts

Since the onset of the Russia-Ukraine conflict, NZD/USD has reversed its course from a 0.6530 low to see gains around 3%. The kiwi is now approaching cloud resistance at 0.7024. Above here lies a resistance zone at 0.7074-0.7108, Benjamin Wong, Strategist at DBS Bank reports. Still grinding higher “NZD’s uptrend remains intact given a move

Kansas City Fed President Esther George said in an interview with the WSJ on Wednesday that the current surge in inflation is different from what former Fed Chair Paul Volcker (served between 1975-1979) faced and has not yet become embedded in the economy. the path to policy normalisation is likely to be a long one,

WTI looks to oscillate in a range of 97.72-115.87 as higher uncertainty is followed by volatility contraction. The RSI (14) has shifted in a 40.00-60.00 range, which signals consolidation ahead. The 20 and 50-period EMAs are scaling higher, which advocates that the upside is still intact. West Texas Intermediate (WTI), futures on NYMEX, has been

Pound among the worst G10 performers during the American session. DXY trims losses as optimism starts to fade. GBP/USD unable to sustain a recovery, 1.3050 exposed. The GBP/USD gave up all gains and dropped back under 1.3100 after reaching earlier a daily high at 1.3159. The dollar gained strength as Wall Street trimmed gains, while

GBP/USD now shifted the attention to the 1.3060 level in the near term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected GBP to weaken yesterday but we were of the view that ‘the major support at 1.3100 is unlikely to come under threat’. The anticipated weakness exceeded our expectations as GBP

Analysts at CIBC looked at the past of Canadian monetary policy and considered what path will the Federal Reserve take over the next months. They see the Bank of Canada raising interest rates to the 2.25-2.5% range during the current cycle.  Key Quotes:  “We have one very easy guidepost for what the Bank of Canada

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GBP/USD trims two days of losses but fails to reclaim 1.3200 amid a positive sentiment The British pound rebounded from intraday losses in the mid-North American session, though it failed to reclaim the 1.3200 mark, courtesy of a risk-on market mood, Fed hawkishness, and Bank of England’s rate hike, with one dissenter, perceived as a