FX

US equities surged in late trade after a broadly positive session as Fed bets eased after softer wage data. The S&P 500 lept to close above the 4400 level again to close 2.4% higher and end the week positive. Apple led the charge after positive Q4 earnings and record iPhone sales. US equity markets posted

The USD/JPY slides 0.15% as investors prepare for the weekend. The greenback finished the week above 97.00 for the first time since June 2020. USD/JPY is upward biased, but the pair could print a leg-down before resuming the uptrend.  As Wall Street closes, the USD/JPY slides ahead of the weekend, spurred by the US 10-year

The Australian dollar fell off the cliff against the Japanese yen, down 0.77%. Market sentiment has improved in the session, but in the FX market, safe-haven peers rise. AUD/JPY bears look forward to a Weekly/Friday close below 80.70, which would increase the odds for a fall towards 78.78. On Friday, as the North American session

GBP/JPY dipped back from earlier highs near 155.00 to the low 154.00s but remains within recent ranges. The pair is still trading in the green after nursing a recovery from an earlier weekly dip. There is notable resistance in the 153.00 area and resistance in the 155.50 area. GBP/JPY held within a 154.00-155.00ish range on

Analysts at MUFG Bank, have a trade idea of a long position of the USD/ZAR, with an entry level at 15.500, a target at 16.300 and a stop loss around 15.000. They point out that broad dollar strength is already starting to weigh more heavily on the South African rand again.  Key Quotes: “The ZAR

EUR/USD licks its wounds at the lowest levels in 19 months, recently easing from intraday high. Markets remain lackluster amid mixed concerns over Russia-Ukraine and softer start to Friday. ECB’s Kazimir expects near-term increase in inflation, improvement in German Consumer Confidence teases ECB hawks ahead of key GDP. US Q4 GDP jumped, inflation expectations gained

On Thursday, the Swiss franc collapsed almost 1%, as Fed policymakers eye the first rate hike in the March meeting. The US Dollar Index marches firmly above 97.00 for the first time since 2020. USD/CHF is upward biased, though a retracement before resuming the uptrend is on the cards. During the North American session, the

GBP/USD takes offers to renew monthly low, down for the second consecutive day. EU to sue UK over deal in bonkers, delay in Brexit talks over NI. Sue Grey’s report awaited as UK PM Johnson defends drinks party, animal evacuation from Afghanistan adds to the problems. Fed matched hawkish market forecasts, US Q4 GDP awaited

The Bank of Canada announced on Wednesday that it was holding its overnight interest rate at 0.25%, as the majority of market participants had been expecting. Note that a minority had expected a 25bps rate hike to 0.50%. The bank also signaled that a rate hike would likely be coming in March by saying that

USD/CAD extends the previous day’s losses, drops towards intraday bottom of late. US dollar tracks downbeat Treasury yields amid pre-Fed anxiety. Oil prices struggle as IMF cuts global growth forecasts, Russia-Ukraine tussles pause. BOC is widely anticipated to maintain the status quo versus hawkish expectations from Fed. USD/CAD remains pressured towards an intraday low of

USD/CAD has dropped back from earlier session highs in the 1.2660s to the 1.2640 area. The loonie and other risk-sensitive currencies remain highly sensitive to US equity market volatility. But traders may be reluctant to sell CAD ahead of Wednesday’s BoC rate decision. USD/CAD has dropped back from earlier session highs in the 1.2660s to

NYSE: NIO tumbled another 9% even as Wall Street indices staged a solid comeback.  Chinese ADRs tumble as Ant Group is tied to a corruption scandal. EV stocks fall further as Tesla closes further below $1,000. Update, January 25: Despite the remarkable turnaround staged by Wall Street indices on Monday, courtesy of bargain hunters, NIO

Senior Economist Julia Goh and Economist Loke Siew Ting at UOB Group assesses the latest inflation data in the Malaysian economy. Key Takeaways “Headline inflation held above the 3.0% level at 3.2% y/y in Dec 2021 (Nov: +3.3%), in line with our estimate and Bloomberg consensus (both at 3.1%). This brought 2021 full-year inflation to

DXY tracks firmer yields to begin the key week but refrains from further advances. Market players stay divided over FOMC, March rate hike clues expected. Easing fears of Omicron battles escalating concerns over Russia-Ukraine tussles. US Markit PMIs can offer immediate direction, US Q4 GDP, PCE Inflation important too. US Dollar Index (DXY) seesaws around

US equities continued to fall on Friday after downbeat subscriber guidance from Netflix, whose shares dropped over 20%. The S&P 500 dropped another 1.6% towards 4400 after failing to test 4500 earlier in the session. The index is now down 5.4% on the week and has broken below its 200DMA for the first time since

GBP/JPY dropped 0.7% on Friday, falling from above 155.00 to around 154.00. Risk-off flows and soft UK data weakened sterling while safe-haven demand and lower global bond yields strengthened the yen. GBP/JPY fell sharply on Friday and heavy downside in the global equity market and commodity space weighed on more risk-sensitive currencies such as sterling,

EUR/JPY accelerates losses and flirts with the 128.50 area. Further decline should not be ruled out for the time being. EUR/JPY intensifies the daily pullback and re-visits the mid-128.00s for the first time since mid-December. Price action in the cross now seems to favour an extra decline in the short-term horizon, particularly after EUR/JPY was unable

WTI drops for the second consecutive day, refreshes intraday low. Bearish MACD signals, support break favor sellers to attack 50-SMA. Monthly horizontal support, 200-SMA adds to the downside filters. WTI crude oil extends the previous day’s pullback from multi-day top towards breaking short-term key support, refreshing intraday low near $83.50 during Friday’s Asian session. In