FX

The yellow metal spent the week in positive territory but short of the previous cycle high. Geopolitical issues would keep influencing gold, and any risk-off market mood should benefit precious metals. The energy agreement between the US and EU would make Europe less dependent on Russia’s natural gas. XAU/USD Price Forecast: Upward biased, but failure

The Bank of Canada is “prepared to act forcefully” to return inflation to its 2.0% target, said Deputy Governor Sharon Kozicki on Friday, reported Reuters.  Additional Remarks: “It’s important to be clear that returning inflation to the 2% target is our primary focus and unwavering commitment.” “The pace and size of rate hikes and the start

The shared currency barely moves vs. the greenback as traders head into the weekend. The EU and the US reached an agreement on natural gas supply. EUR/USD Price Forecast: Confined to the 1.0960-1.1000 range. The EUR/USD remains subdued amid a choppy trading day, as the market mood swings from risk-on to off continue, on “hawkish”

DXY remains unable to regain upside traction on Friday. US yields reverse the initial drop and resume the uptrend. US Final Consumer Sentiment missed expectations at 59.4. Sellers keep dictating the price action in the greenback, with the US Dollar Index (DXY) navigating the mid-98.00s in a context favourable to the riskier assets. US Dollar

Beefing up its wishlist of military assistance from the US government, Ukraine has now asked for hundreds more anti-aircraft and anti-tank missiles than previously requested, CNN reports on Friday, citing an unnamed source with knowledge of both requests. Additional takeaways “The Ukrainians have submitted similar lists in recent weeks but a recent request provided to

AMC stock surges yet again on Wednesday, closing up 13.5% at $20.74. AMC Entertainment had been nearly 20% higher on Wednesday before retreating. AMC shares are still down on the year despite a surge in the past week. UPDATE: AMC stock has dropped 6.7% to $19.35 one hour into Thursday’s session. Though shares of AMC Entertainment Holdings held

The People’s Bank of China (PBOC) remains poised to slash the reserve requirement ratios (RRR) soon to help boost banks’ long-term funding, the China Securities Journal said citing an analysts’ survey.   Key takeaways About 63% of investors expect RRR cuts in the next three months, while only 47% also expect rate cuts. Commercial banks

USD/JPY witnessed an intraday pullback from the fresh multi-year peak touched on Wednesday. The Russia-Ukraine crisis drove haven flows towards the JPY and exerted downward pressure. The Fed’s hawkish outlook, elevated US bond yields should help limit any meaningful pullback. The USD/JPY pair surrendered its intraday gains to a fresh multi-year peak and retreated to

USD/CNH takes the bids to refresh weekly high, up for the fifth consecutive day. China’s Tangshan witnesses virus-led lockdown, local media signals PBOC’s RRR, LPR cuts. Headlines concerning Ukraine-Russia also recently highlighted China due to its alleged ties with Russia, making them key to observe. US Treasury yields remain firmer at three-year high as Fedspeak

WTI has eased back from APac session highs in the $113.00s to under $110 amid fresh profit-taking. The EU is reportedly split over whether or not to press ahead with a Russian oil import ban. After rising as high as the $113.00s during Asia Pacific trade as oil market participants responded to chatter about a

AUD/USD fades bounce off intraday low, extends pullback from two-week high. US 10-year Treasury yields remains strong near three-year top, Aussie bond coupons rally to fresh high since 2018. Ukraine-Russia crisis, hawkish Fedspeak exert downside pressure on the sentiment. Comments from Fed policymakers, risk catalysts will be crucial to watch for fresh impulse. AUD/USD sellers

Rising commodity prices assisted the resources-linked aussie to attract some dip-buying on Monday. The Fed’s hawkish outlook, elevated US bond yields underpinned the USD and might cap the upside. The Ukraine crisis weighed on investors’ sentiment and might further keep a lid on gains for AUD/USD. The AUD/USD pair recovered a major part of its

DXY retreat from intraday high, holds onto Friday’s rebound from one-week low. Sustained trading above 100-SMA, monthly horizontal support keep buyers hopeful amid steady RSI. 50-SMA, weekly resistance line challenge short-term upside momentum. US Dollar Index (DXY) pares intraday gains around 98.30 during Monday’s Asian session. However, the greenback gauge keeps the last week’s U-turn

GBP/USD Weekly Forecast: Bullish potential limited, with UK inflation, Ukraine in spotlight Optimism over a probable truce between Russia and Ukraine offered a sigh of relief to risk-sensitive currencies such as the British pound. GBP/USD staged an impressive comeback, as the US dollar failed to capitalize on the hawkish Federal Reserve (Fed) outlook. Cable booked

The British pound trimmed some of the last week’s losses, finished up 1.07%. Russia – Ukraine peace talks slowed amid failure to reach an agreement. US President Biden and China’s Xi talked about Russia – Ukraine. Fed’s Bullard, Waller, and Kashkari crossed the wires. GBP/USD Price Forecast: The bias is downwards unless GBP bulls reclaim

Silver prices sold off on Friday as risk appetite elsewhere continued to improve, with XAG/USD falling back under $25.00. But silver continues to trade well within recent ranges as traders monitor geopolitical developments. A strong finish to a strong week for US (and global) equities has seen safe-haven silver come back under selling pressure on

Rivian Automotive (NASDAQ: RIVN), the budding electric vehicle maker, initially bank-rolled by the likes of Ford (NYSE: F) and Amazon (NASDAQ: AMZN), is currently trading 80% lower than its peak since listing on the Nasdaq stock exchange. Bear in mind that Rivian was listed on the Nasdaq in November 2021, when you had to be

Various Russian media outlets are reporting headlines on a likely call between Russian President Vladimir Putin and Germany’s Chancellor Olaf Scholz. TASS states that Putin told Scholz that Kyiv was trying to slow down Ukraine peace talks. Meanwhile, RIA reports that Putin told Scholz Kyiv is making unrealistic proposals. Related reads