FX

Here is what you need to know on Tuesday, January 11: With the benchmark 10-year US Treasury bond yield erasing its daily gains after failing to break above 1.8% on Monday, the US Dollar Index lost its traction in the second half of the day. Major currency pairs trade in familiar ranges early Tuesday as

AUD/JPY fell below last week’s lows and its 200DMA in the 82.60s and is now under 82.50. The pair has been moving lower to reflect the continued downturn in US equity markets driven by Fed tightening fears. AUD traders will be watching November Australian Retail Sales data and how the Aussie Omicron outbreak develops this

EUR/USD is still seen within a consolidative phase in the near term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We did not anticipate the strong rise in EUR to 1.1364 last Friday (we were expecting sideway-trading). The sharp and swift advance appears to have room to extend but in view of the

AUD/USD has been choppy on Friday in wake of a mixed US labour market report. The pair is now trading in the 0.7180s having dipped as low as the 0.7130s. The dollar weakened broadly despite the jobs report spurring upside in yields on Fed tightening expectations. AUD/USD was choppy on the final day of the

The New Zealand dollar advances some 0.46% as the North American session ends. A risk-off market mood was no excuse for the NZD to gain vs. the USD. NZD/USD Technical Outlook: Downward biased as long as it remains below 0.6859. On Friday, the New Zealand dollar trimmed some of its Thursday’s losses despite a risk-off

The British pound advances some 0.18% vs. the Japanese yen. GBP/JPY failure to reclaim above 158.22 exposes the pair to downward pressure unless GBP bulls keep the pair above 156.00. As the end of the first trading week of 2022 approaches, the British pound trimmed some of Thursday’s losses and reclaimed the 157.00 figure. At

GBP/USD Weekly Forecast: Cable at the mercy of US inflation and Omicron, correction seems imminent Omicron may be peaking in London – but the Federal Reserve’s urge to tighten is still rising. These two forces will likely remain in play in the upcoming week, featuring all-important US inflation and retail sales data, GDP from the

Nonfarm Payrolls disappointed, but the labor market tightness indicators were stronger than expected. The employment numbers had a modest impact on the FX market. Looking ahead, economists at TD Securities think the bar is very high to undermine the USD, especially as the Fed is very determined to move out of very accommodative policy settings.

GBP/USD keeps bounce off three-week-old support despite posting bearish candlestick the previous day. Multiple failures to cross 100-DMA, nearly overbought RSI challenges upside momentum. 61.8% Fibonacci Retracement adds to the upside filters, 50-DMA to lure bears after immediate trend line support. GBP/USD seesaws around 1.3550, up 0.12% intraday heading into Friday’s London open. In doing

The headline ISM Services index fell to 62.0 in December from 69.1 in November. The New Orders subindex fell to its lowest since November.    The Institute of Supply Management’s headline Services PMI index fell to 62.0 in December versus forecasts for a fall to 66.9 from 69.1 in November. Subindices: Business Activity fell to 67.6 from 74.6.  Prices Paid

USD/JPY remains on the back foot around intraday low. RSI pullback from overbought region adds to the bearish bias. November’s top lure short-term sellers, 11-week-old resistance line challenge buyers. USD/JPY stays pressured around 115.85 while printing the biggest daily losses since mid-December during early Thursday. The yen pair’s latest weakness could be linked to the

USD/TRY adds to Tuesday’s gains well above 13.00. The lira loses further ground after a positive start of the year. Focus remains on the next CBRT event later in the month. The Turkish lira accelerates losses and pushes USD/TRY to new 2-day highs in the 13.60 region midweek. USD/TRY stronger after Turkey’s CPI USD/TRY posts

Ahead of Wednesday’s December Federal Reserve (Fed) meeting’s minutes, Lisa Shalett, Chief Investment Officer at Morgan Stanley Wealth Management, offered her take on the impact of rising interest rates on markets and the economy as a whole.  The Fed, in a little over two months, is set to enact its first rate increase in three

Gold rises on Tuesday despite higher US yields. XAU/USD manages to hold above 1800$, more gains could lead to a test of 1830$. Gold prices are rising on Tuesday after strengthening during the American session even as US yields remain high. XAU/USD held above 1800$ and recently climbed to 1814$, reaching a fresh daily high.

US 10-year Treasury yields seesaw near six-week high, 2-year coupon clings to March 2020 high. Omicron fears, Fed rate-hike concerns propel yields ahead of the key US data flow. US ISM Manufacturing PMI to decorate daily calendar, FOMC Minutes, jobs report are crucial for the week. US Treasury bond coupons stabilize around multi-day top during

EUR/JPY met a tough nut to crack at the 131.00 level. Higher US yields sustains the selling bias in the Japanese yen. The stronger dollar puts the risk complex under pressure. After another failed attempt to surpass the 131.00 level, EUR/JPY came under pressure and receded to the mid-130.00s, where some initial contention turned up

USD/CAD refreshes intraday high, bounces off 18-day low. US dollar stays firmer even as market sentiment improves. Oil prices struggle amid supply-demand fears ahead of OPEC+ meeting. Off in multiple markets, lack of major data challenges short-term moves. USD/CAD picks up bids to refresh intraday high near 1.2670 during Monday’s Asian session. In doing so,

The S&P 500 is flat in subdued trade on the final session of 2021, having slipped back under 4800 on Thursday. The index is on course to post an annual return of more than 27%. All the major US indices were powered higher in 2021 by massive fiscal and monetary stimulus plus mass vaccine rollouts.