FX

According to the accounts of the December European Central Bank monetary policy meeting, it was cautioned that a “higher for longer” inflation scenario could not be ruled out.  Additional Points:  “Members concurred that the recent and projected near-term increase in inflation was driven largely by temporary factors that were expected to ease in the course

AUD/USD reversed early Asian losses on upbeat Aussie employment data. Australia Employment Change rose past forecast, Unemployment Rate dropped in December. Aussie Consumer Inflation Expectations eased, Westpac Consumer Confidence dropped for January. Market sentiment dwindles as yields regain after Biden’s speech but stock futures print gains too. AUD/USD takes the bids to 0.7230, up 0.20%

EUR/USD regains the smile following recent strong pullback. The YTD low at 1.1272 emerges as the next support. EUR/USD regains some buying interest after bottoming out in the proximity of 1.1310 on Tuesday. The bias appears tilted to further retracement in the very near term. That said, a deeper decline remains on the cards if spot breaks below the weekly

“Eurozone inflation is set to burn hotter throughout 2022 than expected a month ago, which could pressure the European Central Bank to tighten policy once the Omicron wave of the pandemic passes,” per the latest Reuters poll published during Wednesday’s Asian session. Key quotes For the near-term, the virus remains a wild card, with a

EUR/USD sheds ground for the third session in a row on Tuesday. Key contention emerges at the 4-month line near 1.1370. EUR/USD extends the bearish move sparked soon after hitting new 2022 highs in the 1.1480/85 band earlier in the month. The bias appears tilted to the downside for the time being. That said, a

What you need to know on Tuesday, January 18: The week started in slow motion, with little action across the FX board. Chinese data released at the beginning of the day provided a modest boost to high-yielding assets, which changed course during European trading hours. US markets were closed due to the celebration of Martin

Silver (XAG/USD) below $21.68/42 would confirm a major top is in place and an important change of trend lower. Strategists at Credit Suisse would then see support at $19.65 initially, ahead of $18.69/64. Silver is closer to establishing a major top “Silver is seen under more pressure and is already closer to the lower end

EUR/USD correcting Friday’s drop but bearish while below the 50-hour EMA. Eyes on 1.15 the figure while markets access the divergence between the ECB and Fed. EUR/USD will start the week after a poor end to last following the market’s risk-off reaction to key, yet disappointing, US data. EUR/USD ended the day down some 0.35%

The shared currency edges lower during the New York session by 0.14%. EUR/GBP Technical Outlook: Downward biased, but a break under the 0.8300 figure, would push the pair towards lower prices. The EUR/GBP slide for the second time of the week, though, remains trapped in the 0.8320-65 range for the sixth consecutive day. The EUR/GBP

GBP/USD bulls unable to break above the 200-DMA and defend the 1.3700 figure On Friday, a pack of solid UK macroeconomic data failed to underpin the British pound, which struggled to cling to the 1.3700 figure, falling during the New York session. At press time, the GBP/USD is trading at 1.3670. It is worth noting

The USD/CHF fall ended after three consecutive days amid a risk-off market mood. The rise of the 10-year US Treasury yield underpins the greenback. USD/CHF is neutral biased, but a bullish-engulfing candle pattern may open the door for an upside move; otherwise, it could challenge August 2021 monthly lows. The USD/CHF snaps three straight days

EUR/USD has stabilised just above 1.1400, having dropped back from earlier session highs in the 1.1480s. Technicians will be eyeing a key level of support in the 1.1380 area. EUR/USD selling has continued into the US trading session, though the bearish intra-day momentum has for the moment eased with the pair finding support above the

Gold price hits weekly highs amid weaker US dollar despite hawkish Fed. Focus shifts to the US Retail Sales and Consumer Sentiment releases. Gold bulls strive hard to find acceptance above monthly highs of $1,832. Gold price is easing from fresh one-week highs of $1,829, as sellers continue to lurk around the $1,830 area. The

Outgoing Fed Vice Chair Richard Clarida, who will resign from his position on Friday, two weeks before the end of his term, said on Thursday that commencing policy normalisation in 2022 would be entirely consistent with the Fed’s new flexible average inflation targeting framework. The economy is well above what Clarida would consider to be

USD/CNH looks poised to extend the downside to the 6.3500 level in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Yesterday, we expected USD to ‘edge lower’ and we were of the view that ‘any weakness is expected to encounter strong support at 6.3680’. We did not anticipate the sharp

According to the Fed’s Beige Book, a report on current economic conditions in each of the 12 Federal districts, most districts noted a sudden pullback in leisure and travel spending, as well as hotel occupancy and patronage at restaurants as the number of Covid-19 Omicron infections rose.  Additional Takeaways:  Growth… “Contacts from many districts indicated growth continued

NZD/USD was seen oscillating in a narrow trading band near the weekly high on Wednesday. A positive risk tone extended support to the perceived riskier kiwi amid subdued USD demand. Investors now look forward to the US consumer inflation figures for a fresh directional impetus. The NZD/USD pair lacked any firm directional bias and remained

The US Treasury yields are falling, weighing on the US Dollar amid Fed’s Chair Powell hearing on the US Senate. The yellow metal advances courtesy of a weaker greenback attributed to falling US T-bond yields. XAU/USD Price Forecast: A daily close above $1,811 would expose the $1,834 resistance area. Update:Gold advances sharply, above $1800 as