FX

EUR/GBP licks its wounds near 20-month low, stays inside bearish chart pattern. Downbeat momentum, sustained trading below 200-SMA favor sellers. Monthly horizontal hurdle adds to the upside barriers. EUR/GBP stays defensive around 0.8430 amid Wednesday’s Asian session. In doing so, the cross-currency pair remains near the lowest levels since February 2020, test the last week,

DXY accelerates losses and retests the 93.50 zone on Tuesday. There is an interim support at the 93.18, the 55-day SMA. DXY extends the downside for the fifth consecutive session on Tuesday and visits again the 93.50 region, where some initial contention turned up so far. In case the selling impulse gathers further steam, the

In an article recently published by Bloomberg, the IK’s PM Boris Johnson has been quoted saying ”we’ll fix” Brexit’s Northern Ireland Protocol, in a sign that a compromise will be reached with the E. ”UK Prime Minister Boris Johnson promised to find a solution to Brexit’s Northern Ireland Protocol, a sign that a compromise will be reached

GBP/USD has broken above its 55-day average (DMA) at 1.3731. Analysts at Credit Suisse see scope for a test of the downtrend from June at 1.3808. Initial support is seen at 1.3690  “We see scope for the recovery to extend further yet with resistance above 1.3774 seen next at the downtrend from the June peak,

In thin trade at the start of the week, New Zealand Consumer Prices, which surprised to the upside at the start of the day, has seen NZD/USD rally to test 0.7100 and print 0.7105 the high. New-Zealand (Sep) CPI (YoY) actual: 4.9% vs 3.3% previous;est 4.2%. New-Zealand (Sep) CPI (qoq) actual: 2.2% vs 1.3% previous;est 1.5%.

The Dow Jones Industrial, the S&P 500, and the Nasdaq Composite posted gains between 0.7% and 1.6% on Friday. US Retail Sales surprised to the upside, while the University of Michigan Consumer Sentiment Index fell. The USD/JPY reached five-year highs above 114.00. Bitcoin broke the $60,000 barrier, trades at All-Time-Highs. US equities finished on a

The British pound continues its rally against the Japanese yen on the back of BoE’s hiking rates expectations. The market sentiment is upbeat, boosting risk-sensitive currencies like the Sterling. Japanese Finance Minister said that currency stability is “very important” and will keep an eye on the forex market moves. The GBP/JPY extends its seven-day rally

USD/JPY soars during the week, despite US dollar weakness across the board. Rising US T-bond yields underpins the USD/JPY pair. US Retail Sales upwardly surprised, rose by 0.7%, more than expectations. The USD/JPY extends its one-and-a-half month rally, advances 0.47% during the New York session, trading at 114.21 at the time of writing. As portrayed by

Having failed to conquer the $1,800 mark on Thursday, gold witnessed some selling on the last day of the week and snapped three consecutive days of the winning streak to near one-month tops. The intraday retracement slide extended through the first half of the European session and dragged the XAU/USD to fresh daily lows, around

EUR/USD is stalling just below the daily 20 EMA. A period of sideways accumulation could be on the cards for the near term.  EUR/USD has shot higher in the last few sessions but the rally has stalled and left a doji topping candle on the daily chart. The following is an analysis of both the daily

Fed officials do not appear swayed from their QE tapering plans by the slowdown in jobs growth, keeping the US dollar on a solid footing. The US Dollar Index (DXY) is looking a little shaky into 94.5, but should retain the bulk of its recent gains, according to economists at Westpac. Gas supply bottlenecks in

WTI barely advances, courtesy of the OPEC+ which lowered its estimates for the rest of 2021. The US Dollar Index is down, bracing to 94.00. As US stock indexes rise, the market sentiment is upbeat towards the end of the New York session. Western Texas Intermediate (WTI) US crude oil benchmark barely advances 0.05%, is

Industrial Production in the euro area declined sharply in August as expected. EUR/USD continues to trade in the positive territory above 1.1550. Industrial Production in the euro area and the EU contracted by 1.6% and 1.5%, respectively, on a monthly basis in August as expected, the data published by Eurostat revealed on Wednesday. In the

In a CNBC interview, Federal Reserve’s James Bullard has stated that he supports starting a taper in November. Key comments Says he wants to finish the taper in Q1 of 2022 to be in place to react to higher inflation. Says the pandemic will come under better and better control with pills, booster shots, shots for kids. Says

Gold price is posting modest gains but remains well within the recent trading range above the $1750 level so far this Tuesday. A flight to safety amid intensifying stagflation fears offers support to the traditional safe-haven gold. Further, a pause in the US Treasury yields rally aides the rebound in gold price. However, the Fed’s

EUR/GBP has firmed since London trade and made fresh highs in New York. GBP is weighed by Brexit angst and the energy crisis. EUR/GBP has climbed to the highest level of the day in New York, travelling from a low of 0.8472 to 0.8499 around the time of writing. Initially, sterling was getting a start of

A subdued USD price action assisted NZD/USD to gains some positive traction on Monday. Hawkish Fed expectations should act as a tailwind for the USD and cap gains for the major. A bank holiday in the US also warrants some caution before placing aggressive bullish bets. The NZD/USD pair held on to its modest intraday

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