FX

XAU/USD recovered as the New York session winds down, up 0.85%. The US 10-year Treasury yield plunged, down almost ten basis points, finishing the week at 1.358%. XAU/USD: A break above $1,792 could propel gold towards $1,800 and beyond. Fed’s Bullard commented on the need of the Fed for a faster taper, considering the 4.2%

USD/CHF has been choppy on Friday, but slipped back to session lows around 0.9170 in recent trade. The pair is being weighed as risk appetite ends the week on the back foot, favouring haven like CHF. It’s been a choppy session but USD/CHF ultimately looks set to end the day lower by about 30 pips

Managing Director (MD) of the IMF Kristalina Georgieva said on Friday that she had already been concerned that the global economic recovery had been losing steam before the emergence of the Omicron variant. There would now likely be some downgrade to global growth forecasts as a result, she added, saying that the rapid spread of

US Nonfarm Payrolls rose at a much slower pace than expected in November. However, an underwhelming print did little to undermine the USD. Economists at TD Securities think it will be very difficult to sell the USD as a thematic strategy given the global monetary policy setup. Fed’s hawkishness to be a significant offset to

In an interview with the Financial Times (FT), Cleveland Fed President Loretta Mester delivers hawkish comments on likely rates next year while cautioning about the risks from the Omicron covid variant. Key quotes Omicron threatens to stoke US inflation. Variant could exacerbate supply chain crunch and worker shortages. The fear of the virus is still

Raphael Bostic, President of the Federal Reserve Bank of Atlanta, said on Thursday that the Fed is open to the possibility that maximum employment might be fewer jobs than before.  Additional Comments: “Understanding what maximum employment is in the current environment will take some time.” “My interest rate path is to go slow and steady, get to neutral rate

EUR/USD pares intraday gains during the second positive week since early November. Fedspeak shifts gears over inflation, ECB pushes for extended PEPP. US data stays firmer but Eurozone economics dwindle, yields lick wounds at 10-week low. Fedspeak, US Jobless Claims, Eurozone Unemployment Rate and Omicron news are the key ahead of Friday’s US NFP. EUR/USD

EUR/USD fell sharply to mid-1.1200s late Tuesday. The pair has climbed back above 1.1300 but economists at Nomura believe it is just a matter of time for a move towards 1.10. A global slowdown typically benefits USD  “We find more compelling macro and flow reasons for a move towards 1.10 to be on the horizon,

USD/CHF struggles to keep the first daily gains in four around three-week low. Short-term falling channel, 100-SMA challenge bulls amid sluggish Momentum. Fresh declines eye 0.9140-45 support confluence, further weakness will have a bumpy road. USD/CHF fades bounce off three-week low to revisit 0.9200 amid early Wednesday. The Swiss currency (CHF) pair drops during the

AMD stock makes a new all-time high at $164.46 on Tuesday. Advanced Micro Devices stock has been riding a bull trend since early October. AMD CEO Su speaks at Credit Suisse conference. Another day, another all-time high. Shares of Advanced Micro Devices (AMD) broke to a new all-time high of $164.46 on Tuesday, only a day after another

WTI pares intraday gains, holds onto Monday’s recovery moves. 50-HMA, triangle resistance restricts immediate upside, RSI retreat teases sellers. Bulls need validation from $74.00 even if after crossing triangle’s resistance. WTI crude oil retreats to $70.40 during a two-day rebound amid early Tuesday. While a two-day-old symmetrical triangle restricts the black gold’s recent moves, RSI

The market sentiment has moderately improved, as it seems the omicron variant symptoms tend to be mild, per South African health authorities. The US Dollar Index gains some traction as investors weigh the impact of the new variant. USD/CAD in the near term has an upward bias, would find resistance around 1.2800. On Monday, in

GBP/USD is in bearish consolidation amid fresh covid and Brexit jitters. Safe-haven USD holds the reins starting out a fresh week. Covid updates, risks trends to lead the sentiment amid a light docket. GBP/USD is trading modestly flat below 1.3350, consolidating its recovery from eleven-month lows of 1.3278 amid a minor improvement in the risk sentiment.

The US is to impose travel restrictions on eight southern African countries in response to the new Covid-19 variant, said a government official cited by Reuters. The new travel restrictions will bar most foreign nationals from the US who have been in those countries within the last 14 days, the official said and will take

The discovery of a new COVID-19 variant in South Africa that could be harder to combat spurred risk-off market mood. The British pound fell on COVID-19 new variant though ended the day in the green, up 0.09%. GBP/USD upward move caused by US dollar weakness. The British pound recovers from earlier losses during the day,

WTI has been under severe selling pressure in recent trade and is now under $70.00. That marks a more than 11% decline on the day, its worst session since last year’s negative prices. Front-month WTI futures have been getting absolutely battered in recent trade and have recently dropped below the $70.00 level. That marks a

European Central Bank Governing Council member Hernandez de Cos said the PEPP should, in theory, end in March 2022, according to Reuters. He added that other programmes or instruments at ECB’s disposal are linked to hitting to sustained 2% inflation target and that the conditions for interest rate hikes had not yet been met by

European Central Bank Vice President Luis de Guindos said on Friday that, despite worry about the new Covid-19 variant, he thinks the impact on the economy will be smaller than in the past, according to Reuters. Luis de Guindos added that he didn’t think the economic impact would be comparable to a year or two