FX

DXY stays cautious above 93.00 ahead of key events. US 10-year yields rebound past the 1.34% area. Building Permits, Housing Starts, API report next on tap. The greenback, when tracked by the US Dollar Index (DXY), faces some selling pressure after hitting fresh tops near 93.50 on Monday. US Dollar Index looks vigilant ahead of

USD/JPY dip during the New York session, eyeing 109.00 Dampened market sentiment conditions favor the safe-haven Japanese yen. The Volatility Index (VIX) is at four-month highs, triggering a significant sell-off in the US equity markets.  The USD/JPY is sliding in the day, down 0.50%, trading at 109.36 at the time of writing.   Risk-off market sentiment weighs

USD/JPY witnessed some selling on Monday and snapped two days of the winning streak. The risk-off impulse benefitted the safe-haven JPY and exerted some pressure on the pair. Hawkish Fed expectations acted as a tailwind for the USD and might help limit the downside. The USD/JPY pair extended its steady intraday descent and dropped to

AUD/USD prints a fresh three-week low at 0.7262. Downbeat market sentiment boosts the demand for US dollars. AUD/USD awaits the FOMC meeting to resume its direction. During the European session, the AUD/USD reached a peak of 0.7321. However, as market sentiment deteriorated and American traders got to their desks, the AUD/USD dipped below 0.7300, pushing the

GBP/USD Weekly Forecast: Breaking out of range? Duo of central bank decisions to trigger action Do current inflation trends warrant tightening policy anytime soon? The past week’s latest figures have caused jitters, leaving investors confused. Central banks take the stage in the upcoming week, with the Fed’s taper timing and the BOE’s rate hike prospects

EUR/USD reaches a three-week low at 1.2724. Market sentiment weighs on the EUR/USD as flows flew to the safe-haven USD. The US Dollar Index rises above 93.00 despite weak US consumer sentiment data. EUR/USD keeps sliding for the second day in a row, exchanging hands at 1.1728 down 0.30% on the day at the time of writing. After

After plunging to its lowest level since 2011 in August, consumer sentiment improved only modestly in early September to 71.0 from 70.3 previously, explained analysts at Wells Fargo. According to them, consumers remain downbeat about current conditions.  Key Quotes:  “Consumer sentiment measured by the University of Michigan suggests consumers are more downbeat today than when

UOB Group’s FX Strategists noted Cable now moved into a consolidative phase between 1.3730 and 1.3885 in the next weeks. Key Quotes 24-hour view: “Our expectation for GBP to advance yesterday was incorrect as it dropped to 1.3765 before settling at 1.3792 (-0.37%). While downward momentum has not improved by all that much, the weakness

The real gross domestic product (GDP) in the United States is expected to grow by 3.6% in the third quarter of 2021, down from 3.7% on September 10, the Federal Reserve Bank of Atlanta’s latest GDPNow report showed on Thursday. “After this week’s releases from the US Bureau of Labor Statistics, the US Department of the Treasury’s

USD/CHF seesaws around intraday top after snapping two-day downtrend. Market sentiment dwindles amid mixed catalysts, pre-Fed anxiety. US consumer-centric data and risk catalysts to direct traders ahead of next week’s FOMC, tapering is the key. USD/CHF eases from intraday high to 0.9200 but stays positive for the first time in three days as European traders

USD/JPY remains on track to post losses for second straight day. Recovering US Treasury bond yields helped USD/JPY erase part of its daily losses. Wall Street’s main indexes trade in the positive territory. Following Tuesday’s decline, the USD/JPY pair stayed under bearish pressure in the first half of the day on Wednesday and dropped to

Here is what you need to know on Wednesday, September 15: Optimism from weaker US inflation figures has made way to concerns about the US and also the Chinese economy, following weak data. Updated reads on UK and Canadian inflation and US industrial output are of interest. Cryptocurrencies have been marching higher while oil and

Data released on Tuesday showed the Consumer Price Index rose 0.3% in August, below the 0.4% expected. According to analysts at Wells Fargo, a softer increase in the August CPI lends credence to the Federal Reserve’s view that the flurry of inflation experienced earlier this year will prove “transitory.”  Key Quotes:  “Consumer price inflation cooled

“Tropical storm Nicholas strengthened into a hurricane late on Monday and is set to batter the Gulf Coast of Texas and Louisiana with rising seawater and rains that could cause widespread and life-threatening flooding,” per the latest update from Reuters. “The hurricane, carrying winds of 75 mph (120 kph), was about 45 miles (75 kms)

Analysts at Wells Fargo, point out that with many G10 central banks likely to begin tightening monetary policy ahead of the Federal Reserve, they remain of the view for a gradual softening in the US dollar over the medium term. Key Quotes:  “Even if inflation does prove to be to some extent transitory, combined with

Gold starts the fresh trading week on a lower note and remains under pressure. US Dollar Index bounces back above 92.50 following hawkish Fed’s members. Higher US Treasury yields underpin the demand for the US dollar. Update: Gold prices attempt to rebound from the daily lows and inches closer to $1,795 on Monday. The drop in

US Stocks Technical Analysis Elliott Wave Forecast overview: Markets are very close to the top of Intermediate Wave (3) top caution is required over the week ahead. Elliott Wave Analysis Wave Count:Amazon AMZN  Elliott Wave v of (v).Alphabet GOOGL  Elliott Wave (v) of v) of 5 of (3).Apple AAPL  Elliott Wave v) of 5 of

GBP/USD Weekly Forecast: Range bound with an eye on the BOE Weak July GDP data restrains sterling and rate hike expectations. GBP/USD finishes the week on par and at the middle of three-month range. Sterling’s recovery on Thursday and Friday ended, temporarily, the threat of the GBP/USD breaking below 1.3765 support and entering the lowest