FX

What you need to take care of on Friday, March 18: The American Dollar remained under selling pressure throughout the day, accelerating its slump ahead of the London fix. The greenback was affected by persistent weakness in government bond yields following the hawkish Federal Reserve’s announcement on Wednesday. By the end of the American session,

Markets are increasingly bullish on airlines with a string of positive headlines coming out this week. The CEO of American Airlines is reported to have told a JPMorgan conference that he has personally been buying other airline stock. United Airlines reports that following the Omicron Covid peak demand for travel exceeds prior expectations. Also, Delta

Antipodean bulls are firmer above 20-period EMA. The RSI (14) has surpassed 60.00, showing no signs of divergence and overbought. The kiwi is underpinned against the greenback after a pullback near 0.6820. The NZD/USD is inching higher after hitting a low of 0.6767 as the demand for the risk-sensitive assets have jumped sharply. The major has

A combination of factors exerted downward pressure on USD/CAD for the second straight day. An uptick in oil prices underpinned the loonie and prompted selling amid modest USD weakness. Traders await Canadian CPI and US Retail Sales for a fresh impetus ahead of the FOMC decision. The USD/CAD pair added to its intraday losses and

What you need to take care of on Wednesday, March 16: The dollar started the day on the back foot but managed to recover the ground lost during US trading hours. The EUR/USD pair is trading at around 1.0940, while GBP/USD changes hands at 1.3035. President Vladimir Putin said Kyiv is not serious about finding

USD/JPY could attempt a visit to the 119.10 level once 118.65 is cleared, commented FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected USD to ‘advance further’ yesterday, we were of the view that ‘overbought conditions suggest that 118.00 is likely out of reach for now’. We underestimated the upward momentum as

What you need to take care of on Tuesday, March 15: Market players tried to be optimistic about a diplomatic solution to the Russia-Ukraine conflict but were unable to do so. The positive sentiment diluted as the day went by, with Wall Street ending the day in the red after a strong opening. The latest

Geopolitical risk premium has already emerged but major currencies could still deviate sharply from what fundamentals can imply, amid ongoing uncertainties. Bigger unknowns over the near term should weigh in favour of the USD, in the view of economists at HSBC. Anti-cyclical currencies, in particular the USD, performs better when the global economy is slowing

GBP/JPY looks to post solid gains on Friday having bounced from earlier sub-152.00 levels, but failed to hold above 153.00. The 200DMA in the 153.20s plus waning risk appetite on during US hours amid geopolitical worries weighed on the pair. GBP/JPY upside on Friday has waned somewhat since the start of US trade, with the

The British pound falls vs. the US Dollar on broad US dollar strength amid a risk-off market sentiment. UK’s upbeat economic data and  BoE rate hike bets expectations faltered to support the GBP. GBP/USD Technical Outlook: Downward biased, as bears eye 1.2850. The British pound heads into the weekend, set to record losses as Wall

GBP/USD Weekly Forecast: No reprieve amid Ukraine crisis, focus shifts to Fed and BOE It was a brutal week for markets, as the tensions between the West and Russia intensified over the latter’s invasion of Ukraine. Risk-off trades dominated almost throughout the week, as investors dumped the higher-yielding currencies such as the pound while seeking

The shared currency is set to end the week with gains, up some 1.94%. A mixed-market mood dented appetite for the single currency, boosting the yen. EUR/JPY Technical Outlook: Remains downward biased, unless EUR bulls reclaim 130.00. The EUR/JPY plummets from weekly highs during the North American session amid a sudden risk-off market mood on

US equities traded in choppy, mixed fashion on the final trading day of what has been an indecisive week. The S&P 500 opened 0.5% higher following positive Putin commentary on Ukraine, but skeptical investors have since pared these gains. US equities traded in choppy, mixed fashion on the final trading day of what has been

According to FX Strategists at UOB Group, EUR/USD is now expected to trade in a volatile fashion and within the 10870-1.1180 range in the next weeks. Key Quotes 24-hour view: “We expected EUR to ‘consolidate and trade between 1.1000 and 1.1100’ yesterday. EUR subsequently popped to 1.1120, dropped to 1.0975 before closing at 1.0983 (-0.83%).

EUR/USD is under pressure despite a surprise outcome at the ECB. Ukraine crisis and central bank divergences weighing on the single currency.  1.0950 could be on the cards for the sessions ahead.  EUR/USD continues to bleed out in the aftermath of critical events including the European Central Bank’s announcement, the US Consumer Price Index and the latest

Palladium remains pressured around intraday low after dropping the most in nine months. MACD signals join bearish breakout of triangle to keep sellers hopeful. Bulls need clear break above $3,210 to retake controls. Palladium (XPD/USD) bears keep reins around $2,970, down 0.17% intraday heading into Thursday’s European session. That said, precious metal dropped the most

Silver’s appetite decreased as investors sought higher returns on an upbeat market mood. US Treasury yields rise, a headwind for the white metal. XAG/USD Technical Outlook: Still upward biased, despite the correction to the $25.60 area. Silver (XAG/USD) retreats from eight-month-old highs near the $27.00 mark due to market players’ increase of risk appetite, spurred

Easing Ukraine-Russia tensions weighed on XAUUSD demand. Gold Price corrected extreme overbought conditions, but bulls defend the downside. European indexes trade in the green, supporting Wall Street’s futures. Gold Price is slowly recovering its shine, battling to recover the $2,000 level. The bright metal plummeted to $1,975.67 a troy ounce ahead of the US opening,