FX

GBP/USD bulls are testing critical resistance.  A break of the 1.3520’s will be significant for the medium term. GBP/USD is sitting pretty above key technical support across the daily, 4-hour and 1-hour charts. The market structure, however, has something to offer both the bears and the bulls and the following analysis illustrates the bias one

NYSE:GME traded flat during Monday’s trading session. GameStop officially announced Immutable as its NFT Marketplace partner. Retail traders still have faith in Chairman Ryan Cohen’s turn around plan. NYSE:GME usually sees its stock pop after good news, but on Monday shares remain unchanged. This could be yet another sign that the meme stock movement has

Contrary to the positive surprise provided by the last week’s US jobs report, the US inflation expectations portray a downbeat scenario ahead of the key US Consumer Price Index (CPI) data for January. That said, the inflation gauge, as measured by the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, fades

Quek Ser Leang at UOB Group’s Global Economics & Markets Research noted USD/THB faces a probable pullback in the near term. Key Quotes “USD/THB rose to 33.48 early last week before dropping sharply. The decline has gathered momentum and a break of Jan’s low of 32.81 would not be surprising.” “For this week, the next

EUR/USD grinds higher around three-month top, awaits fresh directions after six-day uptrend. US NFP triggered the pullback from multi-day top but hawkish ECB policymakers keep buyers hopeful. Yields helped USD to pare recent losses on US jobs but equities didn’t drop much. Russia-Ukraine headlines, China’s return may entertain traders during a likely softer start to

GBP/JPY pulled back under 156.00 on Friday, though the bullish trend since January remains in play. The pair will be focused on risk appetite, comments from BoE’s Bailey and UK GDP figures next week. Despite a modest rally in the US equity space that would normally have a positive impact on GBP/JPY, the pair pulled

The commodity-linked New Zealand dollar ended Friday’s session with losses of 0.69%. The NZD/JPY retracement from weekly tops could lead to further losses below 76.00. The NZD/JPY slumps for the second time in the week as traders get headed into the weekend. As Wall Street closed and thin liquidity conditions hit the FX market, the

Markets are expecting too much tightening from the South African Reserve Bank (SARB) warn analysts at CIBC. They see the USD/ZAR at 15.75 by the end of the first quarter and at 16.00 by mid-year.   Key Quotes:  “The South African Reserve Bank has followed the November hike with a second 25bp move, taking rates

WTI hit fresh seven-year highs at $93.00/barrel in recent trade as the recent melt-up accelerated. WTI is on course to post a seventh successive weekly gain during which time it has rallied over 30%. Oil bulls put their foot on the accelerator on Friday, driving prices to fresh seven-year highs and leaving major crude benchmarks

The benchmark 10-year US Treasury bond yield holds above 1.8% after rising 3% on Thursday. Economists at Société Générale expect 10Y UST to reach 1.97% with scope for the 2.13% mark. Break below 1.65% to denote a deeper down move “Neckline at 1.65% should be an important support.” “10Y UST is likely to extend its

WTI surged above $90.00 for the first time since October 2014 on Thursday.  Analysts have been citing a cocktail of supportive factors.  Front-month WTI futures surged above the $90.00 level for the first time since 2014 in recent trade on Thursday, taking their on-the-day gains to more than $2.0, which would mark the best one-day

The impetus towards pricing in a more abrupt Fed tightening cycle has run its course for now, with 4 ½ to 5 hikes priced in for 2022. The US Dollar Index (DXY) is in a retracement phase for now, but the medium-term bull trend remains intact, economists at Westpac report. Yield support for DXY to

NASDAQ:LCID gained 1.94% during Tuesday’s trading session. Tesla sees yet another recall on its vehicles, this time for its self-driving technology. TopGear.com gives another positive review for the Lucid Air sedan. NASDAQ:LCID climbed higher for the second straight day to start the week but the EV maker failed to recapture the $30 price level. On

USD/JPY turned lower for the fourth successive day amid modest USD weakness. Geopolitical tensions benefitted the safe-haven JPY and added to the selling bias. The Fed-BoJ monetary policy divergence should limit further losses for the major. The USD/JPY pair edged lower through the early European session and dropped closer to the overnight swing low, around

What you need to know on Wednesday, February 2:  The greenback remained on the backfoot on Tuesday, although losses were limited across the FX board. The EUR/USD pair is ending the day pretty much unchanged in the 1.1240/50 area after dismal EU data put a cap to the shared currency. GBP/USD shrugged off UK’s political

CME Group’s preliminary readings for crude oil futures markets noted open interest increased by around 4.5K contracts after two daily pullbacks in a row. Volume, instead, resumed the downside and shrank by around 88.7K contracts. WTI now looks to $90.00… and $100.00 The rally in WTI prices remained unabated on Monday. Indeed, the commodity managed to

GBP/USD bulls are moving in for an attack on critical resistance.  The US dollar is weak and the pound is benefitting from BoE sentiment.  At 1.3448, GBP/USD is firming in mid-day New York trade and moves in towards the highs of Monday near 1.3455. The US dollar has come under further pressure in recent trade and

A combination of factors prompted some selling around USD/CAD on Monday. Bullish oil prices underpinned the loonie and acted as a tailwind for the major. A positive risk tone prompted USD profit-taking and added to the selling bias. The USD/CAD pair extended its steady intraday descent and dropped to a fresh daily low, around the