FX

AUD/USD stays pressured at the lowest levels since August, recently bouncing off intraday low. Preliminary reading of Australia Retail Sales jumped past 2.5% forecast, 1.3% prior in October. Virus woes, Fed rate hike concerns weigh on market sentiment. US open, risk catalysts will be in the spotlight amid a light calendar. AUD/USD bounces off intraday

Ford stock steady after a recent surge to 20-year highs. F looks to be forming a bullish flag pattern. Rivian stake is flying. Ford (F) stock was relatively quiet on Wednesday ahead of the shortened Thanksgiving week, but the stock remains strong and looks poised to build on recent gains that have taken it to a 20-year high.

WTI picks up bids to reverse the pullback from weekly top. OPEC panel anticipates 1.1 mbd excess supplies due to SPR. Asia follows the US-led release of strategic oil reserves, EIA stockpiles increase. Off in US, the light calendar will restrict intraday moves. WTI prints mild gains above $78.00, near $78.20 during Thursday’s Asian session

In talking points delivered to senior officials, German coalition partners have noted that they agreed to increase the minimum wage to 12 euros/hour.  Additional takeaways “Agreed to lower minimum voting age to 16.” “Will build 400,000 new apartments a year.” “Will seek to limit rent increases.” “Want to increase R&D funding to 3.5% of GDP.” “Overcoming

“Chair Powell and Governor Brainard have similar views on monetary policy,” Goldman Sachs (GS) welcomes US President Joe Biden’s decision to nominate Jerome Powell as the Fed Chairman for the second term and Richard Clarida for Vice Chair’s post in their latest analytical report. “Both believe that the current rise in inflation reflects transitory (but

AUD/USD was seen consolidating its recent losses to the lowest level since early October. The USD bulls took a brief pause near a 16-month peak and extended support to the pair. Hawkish Fed expectations acted as a tailwind for the USD and capped gains for the major. The AUD/USD pair seesawed between tepid gains/minor losses

“Price pressures to subside as life normalizes in 2022,” US Treasury Secretary Janet Yellen said while crossing wires during late Monday night.  The policymaker expected, “Monthly CPI around 0.2% to 0.3% in H2 of 2022.” Earlier, US Treasury Secretary Yellen spoke during a CNBC interview while saying, “Inflation has reached a level that concerns most

USD/JPY regained positive traction on Monday and reversed the previous session’s losses. A positive risk tone undermined the safe-haven JPY and extended some support to the pair. Fed rate hike bets, elevated US bond yields benefitted the USD and remained supportive. The USD/JPY pair held steady above the 114.00 round-figure mark through the early part

The price of gold is lower despite the risk-off mood. XAU/USD ended on Friday down some 0.70% falling from a high of $1,865.83 to a low of $1,843.09. The greenback was favoured instead after Austria said it would be the first country in Western Europe to reimpose a full lockdown while Germany said it could follow

GBP/JPY pulled back sharply on Friday amid a broader downturn in risk sentiment, but found good support in the mid-152.00s. The pair may well struggle next week if risk appetite continues to worsen and it breaks key support. GBP/JPY came under pressure on Friday, dropping back from Asia Pacific levels close to 154.50 to as low

XAG/USD finishes the week on the wrong foot, despite falling US bond yields. XAG/USD plummeted in the day as risk-off market mood boosts the greenback. Fed’s Waller and Clarida would like a faster bond taper. XAG/USD Technical outlook: An inverted head and shoulders target the $28.20-30 range. As Wall Street closes, silver (XAG/USD) finished the

GBP/USD Weekly Forecast: Can growth prospects beat bears’ technical stranglehold? US data eyed Three top-tier UK releases, three higher than estimated results. Alongside an improved market mood that somewhat weighed on the dollar, GBP/USD has been able to find a bottom. The focus is firmly on US data, but also Brexit and covid headlines are

Vice Chair of the FOMC Richard Clarida said on Friday that it “may very well be appropriate” to discuss accelerating the pace at which the Fed is winding down its bond-buying programme at the December policy meeting. Speaking at the San Francisco Fed’s 2021 Asia Economic Policy Conference, he added that there are upside risks to inflation,

USD/CAD recently reclaimed the 200-day moving average (DMA) at 1.2465 extending its rebound towards the daily Ichimoku cloud near 1.2650. A break above would clear the way for a potential rise towards the 1.2950/1.3020 area, economists at Société Générale report. Consolidation above the 200-DMA near 1.2465 is crucial to extend the advance “Daily MACD has

Spot gold prices moderated on Thursday back to the $1860 level, despite a softer dollar and yields. Gold has been tracking US inflation expectations more closely recently, which fell back on Thursday. Spot gold (XAU/USD) prices fell 0.5% on Thursday, despite a weaker dollar and softness in US bond yields. Prices topped out at $1870

Quantitative easing (QE) has to stop, given that inflation is likely to stay high, the European Central Bank (ECB) policymaker Robert Holzmann said during his speech at an Austrian University on Wednesday. Key quotes “Quantitative easing was probably an important addition to the traditional instruments in the view of lower bound on conventional policy but it

What you need to know on Thursday, November 18: The US dollar’s recent charge higher ran out of steam on Wednesday, with the DXY falling back to the 95.80s by the end of the US session having printed fresh 16-month highs at 96.26 in early Asia trade. The White House said a final decision on

GBP/USD extends its rejection from its now falling 200-day average with the past couple of weeks seeing a sharp acceleration lower for a break of the 1.3411 September low. The pair stays on course for an eventual fall to a cluster of supports at 1.3189/35, economists at Credit Suisse report. Resistance moves to 1.3607 initially