FX

GBP/USD closes the week above 1.3600 frem 1.3405 lows in late September. BoE tightening expectations have fuelled the pound’s recovery. GBP/USD seen at 1.41 in 2022 – Westpac. The British pound has found support at 1.3610 after having hit resistance at one-week highs of 1.3660 earlier today. The pair consolidates above 1.3600 after a significant recovery from year-to-date lows

XAG/USD is steady as the US 10-year T-bond yield sits firmly around 1.61%. The US Dollar Index seems poised to close above 94.00 for the second consecutive week. Silver (XAG/USD) is advancing during the New York session, climbs 0.69%, trading at $22.76 at the time of writing. Price action throughout the American session has been

EUR/USD retreats from daily highs around 1.1560’s amid US dollar weakness. EUR/USD: Failure to hold 1.1500 could send the pair tumbling towards 1.1348. The market sentiment is downbeat, as investors believe a Fed’s bond taper announcement is imminent. The EUR/USD rises above Thursday’s daily highs is trading at 1.1572, gaining 0.17% during the New York

The dollar fails to break 0.9300 but it remains steady above 0.9260. The pair extended losses following the release of NFP data. USD/CHF: Decline below 0.9189 would alleviate bullish pressure – Commerzbank. The US dollar has failed on its third attempt to regain the 0.9300 level, and retreated earlier today, to extend losses following the

Here is what you need to know on Friday, October 8: The risk-positive market atmosphere allowed commodity-linked currencies to gather strength on Thursday and made it difficult for the dollar to gain traction. Nevertheless, rising US Treasury bond yields helped the greenback outperform the JPY and the CHF, limiting the US Dollar Index’s downside. The benchmark

Australian dollar appreciates to re-test recent highs at 0.7315/20 area. The US dollar loses ground with all eyes on US labor data. AUD/USD remains biased lower while below 0.7370. The Australian dollar is outperforming the rest of the major currencies on Thursday, appreciating beyond 0.6% against a somewhat weaker US dollar. The Aussie has extended

Industrial Production in Germany showed a bigger-than-expected drop in August, the official data showed on Thursday, suggesting that the recovery in the manufacturing sector losing momentum. Eurozone’s economic powerhouse’s industrial output drops sharply by 4% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.4% drop expected and 1%

The euro seems unable to bounce up from the 0.8500 support area. Concerns about surging inflation are weighing on the EUR. A breach of 0.8500, would expose a year-to-date low at 0.8450. The euro has ticked up against the British pound on Wednesday after having lost nearly 1.5% in a four-day reversal from last week’s high

In opinion of FX Strategists at UOB Group, EUR/USD could still slip back to the 1.1530 region while below 1.1655. Key Quotes 24-hour view: “EUR traded between 1.1579 and 1.1622 yesterday, narrower than our expected sideway-trading range of 1.1580/1.1635. The underlying tone has weakened somewhat and EUR could drift lower but any decline is unlikely

GBP/USD regains lost ground and hits one-week highs above 1.3640 Pound’s rebound from 1.3414 has extended to one-week highs at 1.3640 so far. The sterling appreciates on hopes of a BoE’s interest rate hike. GBP/USD’s current recovery, to cap at 1.3658/75. The sterling maintains a bid tone for the fourth consecutive day on Tuesday. The

Open interest in gold futures markets rose by around 2.4K contracts on Monday after two consecutive daily drops considering flash data from CME Group. In the same line, volume extended the choppiness seen as of late and also rose by around 9.8K contracts. Gold keeps targeting the $1,800 level Gold prices advanced to the $1,770

The Canadian dollar has weakened during the last weeks despite surging energy prices. According to National Bank of Canada analysts, the correlation is unusual, and they see that energy prices should decline further or the loonie strengthen.  Key Quotes: “The Bank of Canada’s index for the price of energy commodities produced in Canada (oil, natural

USD/CAD pares intraday losses during a three-day downtrend. Monthly support line, challenges bears, bulls seek 200-SMA, 38.2% Fibo. breakout for fresh entry. USD/CAD licks its wounds around 1.2630, down 0.10% intraday, ahead of Monday’s European session. In doing so, the Loonie pair stays negative for the third consecutive day but an ascending support line from

AUD/USD recovery from 0.7170 loses steam at 0.7270 area. The US dollar extends its pullback despite bright US data. The aussie remains offered while below 0.7390 – Commerzbank. The Australian dollar has appreciated against the USD for the second day in a row on Friday, to consolidate at 0.7270 after bouncing up from 0.7170 lows earlier

The risk-on market sentiment struck government bond yields and the US dollar. UK’s IHS Markit Manufacturing PMI came at 57.1, better than expected. US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The GBP/USD is staging a recovery, trading at 1.3547, up more than a half percent during the day

The market sentiment is upbeat weighs on US T-bond yields and the greenback. Eurozone inflation rose by 3.4%, above the ECB’s target,  US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The EUR/USD is trimming losses, trading at 1.1596, barely up 0.13% during the day at the time of writing.

EUR/USD runs out of steam just past 1.1600. EMU flash September CPI came at 3.4%, Core CPI at 1.9%. US ISM Manufacturing improves to 61.1 in September. The single currency gives away some gains and motivates EUR/USD to return to the sub-1.1600 area at the end of the week. EUR/USD recedes from tops on upbeat ISM

AUD/USD bulls are moving in on the counter-trendline. Bears are looking for a downside extension.  AUD/USD is in consolidation following a strong correction into the daily counter-trendline. This is an area of confluence which could act as an area of strong resistance, leading to a downside extension in the days ahead.  AUD/USD prior analysis ”The price