FX

NZD/USD grinds higher following the pullback from weekly top. Firmer RSI, sustained trading beyond 200-HMA favor bulls. May’s top lures buyers during further upside, weekly low adds to the downside filters. NZD/USD consolidates the heaviest daily gain in a week around 0.7195, down 0.11% intraday as European traders brace for Friday’s bell. The kiwi pair

AUD/USD advances in the session, despite rising US T- bond yields. The US dollar weakens, weighed on by a slower rise in Q3 GDP. US Initial Jobless Claims rose to 281K, less than the 290K expected, improving for the third consecutive week. The AUD/USD edges higher during the New York session, up 0.50%, trading at

GBP/USD Price Analysis: Sellers attack 50-DMA on monthly support break GBP/USD prints a three-day downtrend following the key support break, pressured around 1.3740 during the early Asian session on Thursday. The cable pair broke an ascending support line, now resistance, from September 30 the previous day but refrained from closing below 50-DMA. Read More …

Data released on Wednesday showed a lower-than-expected slide in Durable Goods Orders in September. Analysts at Wells Fargo point out weakness in transportation orders was largely behind the 0.4% decline in the main index. They point out numbers continue to demonstrate a manufacturing sector strapped by a lack of supply. Key Quotes:  “Durable goods orders

USD/TRY sellers take a breather following two-day downtrend. Overbought RSI, SMA breakdown signals further pullback. Seven-week-old support line challenges the bears, bulls eye record top. USD/TRY seesaws near $9.5430-25, keeping the previous day’s 5-DMA breakdown ahead of Wednesday’s European session. The Turkish Lira (TRY) pair dropped during the last two days after refreshing the all-time

US Senate Democratic Leader Chuck Schumer said on Tuesday that Democrats are continuing to make progress on US President Joe Biden’s economic plan, as reported by Reuters. “I remain confident a deal is within reach on the large domestic investment bill,” Schumer added. Market reaction Risk flows continue to dominate the financial markets following these

Amid growing concerns over elevated inflation and its impact on the post-pandemic economic recovery, the latest warnings from America’s billionaire entrepreneurs are adding to the policymakers’ misery while aggravating the investors’ concerns. Tesla Inc.’s founder Elon Musk, in a Twitter response, said, “I don’t know about long-term, but short-term we are seeing strong inflationary pressure.”

David Frost, the British minister responsible for implementing the Brexit deal, said on Monday that the European Union’s proposals wouldn’t deliver the “freeing up of trade” they would want to see, as reported by Reuters. “The problem with the EU proposals on Northern Ireland is that they don’t go far enough,” Frost added and reiterated that

EUR/GBP trades marginally lower on Monday in the Asian trading hours.  Minimum wage rise, positive Brexit headlines, upbeat data support the gains for the sterlings. Dovish ECB’s stance weighs on the euro. EUR/GBP remains muted on Monday in the Asian session . The cross-currency stayed in a relatively narrow trade band with no meaningful traction. At the

GBP/USD Weekly Forecast: Time for a meaningful downside correction? Covid and US GDP eyed GBP/USD has been rising amid speculation of a BOE rate hike and risk-on-related dollar weakness. UK covid headlines, US GDP and US politics are set to move markets ahead of Halloween. Late October’s daily chart is painting a mixed picture. A rate hike in

XAU/USD ended the day in a high tone, clung above $1,790.00. Fed’s Chairman Powell: High inflation will likely last well into next year. XAU/USD: Has an upward bias, but higher US bond yields and market sentiment could impact the non-yielding metal. Gold (XAU/USD) finished the day at $1,792.59 for a 0.54% gain at the time

WTI futures pare losses and return near multi-year highs at $83.95. Oil prices consolidate after a six-week rally. Front-month WTI futures have bounced up at $82.50, regaining previous losses to return to levels near multi-year highs at $83.95. On a broader picture, however, crude prices remain within previous ranges, consolidating after a nine-week rally. Oil’s

BoE’s Chief Economist Huw Pill: Inflation in the UK could top 5%. Brexit: The EU could terminate the post-Brexit trade deal with the UK. EUR/GBP: The 1-hour chart depicts the pair is tilted to the upside, confirmed by RSI at 63.50 and aiming higher. The EUR/GBP edges higher as the New York session progresses, gains

The USD/JPY rally has taken a breather over the last week after some strong gains. The highlight of the week ahead will be Thursday’s Bank of Japan meeting where a fresh update on the Outlook for Activity and prices will be published. Economists at ING stay bullish and see substantial gains to the 115.00 level.

New York Federal Reserve (Fed) President John Williams said on Friday, longer-run inflation expectations are in line with the central bank’s 2% goal. Additional takeaways If inflation expectations get anchored at too low a level that will then bring down actual inflation over time. There is a great deal of uncertainty about the economy today.

Gold reversed an early North American session dip to the $1,776 area and turned positive for the third successive day, though remained below weekly tops touched earlier this Thursday. Currently hovering around the $1,782-83 region, the risk-off impulse in the markets turned out to be a key factor that acted as a tailwind for the

AUD/USD takes the bids to refresh multi-day high. NAB Business Confidence drops below market forecast and prior in Q3. Market sentiment dwindles amid a sluggish session, US Treasury yields stay firmer. Evergrande’s failure to clinch asset sale deal, hawkish Fedspeak weigh on risk appetite of late. AUD/USD stays bid at 0.7527, the highest level since

Inflation in Canada rose at a stronger pace than expected in September. USD/CAD stays in the negative territory around 1.2350. Annual inflation in Canada, as measured by the Consumer Price Index (CPI), advanced to 4.4% in September from 4.1% in August, the data published by Statistics Canada revealed on Wednesday. This reading came in higher