FX

USD/CHF extends its weekly gains to 1.98% after the Fed and SNB monetary policy decisions. The major break above the 0.9600-0.9700 range, registering a fresh weekly high at 0.9851. The USD/CHF path of least resistance is upwards; once it clears 0.9851, a re-test of 0.9900 is on the cards. The USD/CHF advanced during Friday’s North

The pound suffered on Friday the worst decline since at least March 2020, with GBP/USD losing more than 300 pips. Analysts at MUFG Bank, remain bearish on the pound and point out the loss of confidence in GBP is becoming more concerning. Key Quotes: “We now expect the BoE to hike by 75bps on 3rd

WTI tumbles more than 7.50% weekly, registering a fresh 8-month low. Global S&P PMIs in September increased worries of a worldwide recession, weighing on WTI. WTI Price Analysis: A break below $78.00 could pave the way for a fall to $70.00. The US crude oil benchmark, also known as WTI, drops below $80.00 per barrel

Gold price is trading on a slippery slope. In the view of FXStreet’s Dwhani Mehta, XAU/USD looks to extend range play above $1,650. Lackluster action but downside bias intact “Gold has continued to find strong buyers around the $1,655 region so far this week but sellers continue to lurk above $1,680, leaving the bullion directionless

AUD/USD reached a multi-year low at around 0.6574 but bounced back and is gaining 0.29%. The Summary of Economic Projections (SEP) reported that Fed officials see rates at around 4.4% by the end of 2022. The US Department of Labor reported that Jobless Claims rose less than estimated but exceeded the previous reading. The AUD/USD

EUR/USD holds lower ground at the two-decade low, prints three-day downtrend. Short-term support line, 61.8% FE joins oversold RSI (14) to trigger corrective bounce. Recovery remains elusive below parity level, sellers could aim for the 2002 low. EUR/USD licks its wounds near the lowest levels since October 2002, picking up bids to 0.9830 heading into

The continuation of the downside pressure in EUR/USD could extend to the 0.9770 ahead of 0.9720, according to FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Key Quotes 24-hour view: “We expected EUR to decline yesterday but we were of the view that ‘any weakness is unlikely to break the solid

FedEx (NYSE: FDX) fired a warning shot the market needs to pay attention to when it prereleasedQ3 earnings but there is more to the story than what the headlines are screaming. FedEx is predicting a global recession in 2023 but the 20% decline in share prices is already offering a buying opportunity Granted, it’s only

USD/TRY is auctioning around its all-time highs recorded at 18.41. Exhaustion in upside momentum could lead to a mild correction further. The RSI (14) is oscillating in the bullish range of 60.00-80.00 for a prolonged period. The USD/TRY pair is attempting an upside break of the consolidation formed in a narrow range of 18.30-18.40 in

GBP/USD began the week on the right foot, awaiting Fed and BoE’s monetary policy decisions. Most analysts estimate the Fed would hike 75 bps in September’s meeting. GBP/USD Price Analysis: Remains downward biased, but a break above 1.1500 could shift the bias to neutral. The British pound loses some traction against the greenback, after hitting a

US dollar losses momentum amid an improvement in risk sentiment. Wall Street turns green, US yields modestly off highs. EUR/USD continues to consolidate ahead of the FOMC meeting. The EUR/USD rose after the beginning of the American session and recently climbed to 1.0017, before pulling back to the parity area. It is posting modest losses

The USD/CNY continues to face upside pressure according to analysts from Danske Bank. They point out that the difference between interest rates in China and the US clearly favor the US dollar.  Key Quotes:  “USD/CNY has taken another leg higher lately on a stronger USD and wider US-China spread.” “Relative rates clearly in favour of

USD/JPY fluctuates around 143.00 amid a negative market sentiment, spurred by recession fears on Fed’s aggressive tightening path. The USD/JPY daily chart portrays buyers in control, but price action remains constrained. Short term, the USD/JPY is range-bound, trapped in the 142.60-143.60 range. The USD/JPY seesaws around 24-year highs above the 143.00 psychological level, for the

The USD/BRL is falling on Monday after posting last Friday, the highest daily close since early August. Analysts at Rabobank see the USD/BRL pair at 5.30 by the end of the year.  Key Quotes:  “We still believe the Fed will remain hawkish, the USD will remain holding its safe haven status, and domestically the traditional

Analysts from TD Securities see the USD/CAD pair moving to the upside and they have an idea of buying the pair at levels near 1.3300 with a target at 1.3500 and a stop-loss at 1.3180.  Key Quotes:  “The debt party that has supported the last two major expansions is over and the CAD will need

Silver drifts lower for the second straight day and drops to a fresh weekly low. Break below 50 DMA and the $19.00 mark supports prospects for further losses. A breakout through a descending trend-line is needed to negate the negative bias. Silver remains under some selling pressure for the second straight day on Friday and

EUR/USD is oscillating around 1.0000, more weakness expected on Eurozone stagflation fears. An unexpected improvement in US Retail Sales is keeping the DXY at elevated levels. Investors are blaming the ECB for underestimating the pace of inflation. The EUR/USD pair is displaying back-and-forth moves below the magical figure of 1.0000 in the early Tokyo session.

UOB Group’s Senior Economist Alvin Liew and Rates Strategist Victor Yong review the latest release of US inflation figures. Key Takeaways “US headline consumer price index (CPI) inflation was off from recent highs but still elevated at 8.3% y/y (from 8.5% y/y in Jul), above Bloomberg estimates of 8.1% (but in line with our forecast).