FX

GBP/USD advances towards 1.1400 on UK’s reverse tax cut move, US NFP in focus The GBP/USD pair is gathering momentum in the early Tokyo session to cross Monday’s high at 1.1334. The cable has been strengthened after witnessing a north-side break of the consolidation formed in a 1.1029-1.1232 range. The asset is expected to hit

NASDAQ:MULN fell by 2.6% during Friday’s trading session. EV stocks were mixed on Friday, closing out a volatile month of trading.  Tesla holds AI Day Event, makes an interesting announcement about the Cyber Truck. Mullen Automotive (MULN) made yet another all-time low price on Friday as the downtrend for the EV startup continues into October. To

NZD/USD has picked bids from around 0.5600 on soaring hawkish RBNZ bets. The RBNZ is expected to escalate its OCR 50 bps consecutively for the fifth time. The gloomy outlook for US ISM PMI data is weakening the DXY. The NZD/USD pair has rebounded firmly after picking bids around 0.5600 in the Tokyo session. Last

USD/CHF prepares to finish the week with decent gains of 0.65%. The weekly chart depicts the pair as neutral-to-upward biased, further extending the uptrend but unable to crack 0.9900. The USD/CHF daily chart portrays the major as upward biased, and once it clears the 0.9886 mares, the 0.9900 figure would be next. The USD/CHF finished

GBP/JPY registered hefty gains of 3.96% during the week. Long-term, the GBP/JPY is neutral upwards, though if it clears 162.57, that could open the door for further gains. Per the daily chart, if the GBP/JPY clears 162.25, the pair can rally towards 164.00. The GBP/JPY advanced for the fourth straight day and reclaimed the 200-day

EUR/USD trips down ahead of the end of the week, month and Q3. US Fed officials continued with their “restrictive policy” rhetoric, agreeing that further hikes are coming. US Core PCE surpassed analysts’ expectations, paving the way for another 75 bps Fed hike. EU’s inflation jumped above the 10% threshold, and money market futures expect

GBP/USD is set to finish the week with gains close to 3%, despite the UK’s bond crisis. US PCE figures increased the likelihood of the Fed going 75 bps as Fed officials reinforced their hawkish rhetoric. The GBP/USD remains downward biased, and once it clears 1.1050, it could fall towards the 1.0800 mark. The GBP/USD

GBP/USD has gathered further bullish momentum. Pound bulls eye 1.1300 next, FXSTreet’s Eren Sengezer reports. Buyers retain control of cable’s action “On the upside, 1.1300 (Fibonacci 61.8% retracement of the latest downtrend, 100-period SMA) aligns as the next target. In case buyers flip that level into support, the pair could continue to push higher toward

Gold bulls in charge and eye mitigation towards $1,670 that guard $1,675 and $1,688. The US dollar continues to bleed out into month-end flows.  The gold price has started to find support in the correction of the recent bullish impulse but is back to trading near flat on the day at around $1,660 following a

Business and consumer sentiment in the euro area continued to weaken in September. EUR/USD trades in negative territory below 0.9700 after the data. The data published by the European Commission showed on Thursday that the Economic Sentiment Indicator (ESI) for the euro declined to 93.7 in September from 97.3 in August. This reading came in

NZD/USD bulls have moved in as the US dollar sells off into month end. The greenback and US yields were underwater on Wednesday and the high beta currencies took off. NZD/USD rallied on Wednesday following a strong sell-off in the US dollar as the month-end approaches. NZD/USD rallied by some 1.8% from a low of

USD/JPY struggles to gain any meaningful traction and remains confined in a range. A combination of factors underpins the JPY and acts as a headwind for the major. The Fed-BoJ policy divergence, relentless USD buying continue to extend support. The USD/JPY pair extends its consolidative price move and remains confined in the 144.50-145.00 broader trading

What you need to take care of on Wednesday, September 28: Dollar buying paused early Tuesday but resumed following the release of better-than-expected US data, also helped by the poor performance of Wall Street. In addition, fears of a worldwide recession keep leading the market sentiment. During the European morning, European Central Bank President Christine

USD/TRY remains on the front foot at all-time high during three-day uptrend. CBRT documents hints at further rate cuts, DXY retreats from 20-year high. Fed’s Powell, US data can entertain intraday traders, bulls are likely to keep reins. USD/TRY shrugs off the US dollar pullback to stay on the front foot and refresh the all-time

The USD/JPY bounces off the 143.00 regions and is back above 144.50 after last week’s BoJ FX intervention. Following the Japanese intervention in the FX space, the USD/JPY recovered some 3%. Near term, the USD/JPY might re-test the 145.00 area, despite increasing concerns of being the BoJ’s line in the sand, opening the door for

The European Central Bank’s (ECB) future rate increases will depend on the incoming macroeconomic data, European Central Bank (ECB) Vice President Luis de Guindos, said on Monday. “The ECB is carefully watching out for second-round effects and the bank is fully committed to 2% medium-term inflation target,” de Guindos added and acknowledged that the third and fourth quarters

Gold price tanked to new two-and-half years low at $1638.90. Global S&P PMIs revealed in the EU, UK, and the US sparked investors’ recession fears, increasing appetite for the safe-haven US dollar. Gold Price Analysis: A break below $1638 to send XAU/USD towards $1600. Gold price slides to fresh two-and-half-year lows dampened by a risk-off

Weaker than estimated UK economic data and UK’s new budget fueled UK’s recession fears. A break below the 200-EMA officially shifted the GBP/JPY as bearish biased. GBP/JPY plunged more than 450 pips or 2.93% on Friday, amidst risk-aversion, after PMIs reported by S&P Global showed that the EU and the UK could be headed into