FX

Equity markets set yet more record highs, big earnings week ahead. Refinitiv data shows 85.4% of reported earnings so far have beaten estimates. Will bears ever come out of hibernation and sell something, anything? Another week, another record as the S&P 500 sets yet another new high. It seems at the end of every week

“The advanced economy flash PMIs for April painted a positive picture, albeit with recoveries in the US and UK seemingly far outpacing those in the euro-zone and Japan as restrictions were relaxed in the former two economies,” noted Gabriella Dickens, Global Economist at Capital Economics.  Key quotes “Flash PMI estimates suggest that the DM composite PMI

CME Group’s advanced prints for Crude Oil futures markets noted open interest dropped for the second session in a row on Thursday, this time by around 10.5K contracts. Volume followed suit and went down markedly for the second consecutive day, now by around 195.6K contracts. WTI: Gains appear limited around $64.00 Thursday’s positive price action

US President Biden will announce a major spending plan next week for families and child care and he is planning to use tax increases on wealthy to pay for it, Reuters reported on Thursday, citing sources familiar with the matter. “Biden will propose raising the marginal income tax rate to 39.6% from 37%,” the sources

DXY alternates gains with loses just above 91.00. US 10-year yields edge lower to the 1.53% region. Weekly Claims, housing data, CB Leading Index next on tap. The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main rivals, exchanges gains with losses just above the 91.00 yardstick ahead of the

Gold unleashed – Rip your face off rally is here S&P 500 had another day in the the red, and buy the dippers might be tempted to say enough is enough – but I am not convinced yet. The selling doesn‘t appear as over yet, and the premarket upswing stopped right below my tweeted target

FX Strategists at UOB Group commented that further downside is still expected around USD/JPY in the next weeks. Key Quotes 24-hour view: “Our expectation for ‘the drop in USD to test 107.90 first before stabilizing’ did not materialize as it traded between 107.95 and 108.54 before closing little changed at 108.05 (-0.06%). The outlook for

EUR/USD lost its traction after climbing to fresh multi-week highs. US Dollar Index posts modest daily gains near 91.20. Wall Street’s main indexes suffer heavy losses on Tuesday. The EUR/USD pair climbed to its highest level since early March at 1.2080 on Tuesday but reversed its direction during the American trading hours. As of writing,

USD/INR bounces off intraday low, prints mild losses. US dollar index remains heavy near the lowest in seven weeks. India’s infection numbers recede for the first in a week albeit marginally. Risk catalysts, Indian government’s push for vaccinations will be eyed for fresh impulse. USD/INR picks up bids to 74.77, down 0.13% intraday, amid the

On Friday, the Central Bank of Russia (CBR) will have its monetary policy meeting. Analysts at MUFG Banks believe it will raise the key rate by 25bp to 4.75%. They point out the new trajectory of the rate policy will be key.  Key Quotes: “We (and consensus) believe that it will raise rates by 25bp

EUR/USD recaptures 1.1950, as the USD rebound loses steam. Subdued Treasury yields offer support to the major. EUR bulls look to 1.20 once again amid a light economic calendar. EUR/USD is attempting a recovery above 1.1950 ahead of the European open, as the US dollar’s rebound falters amid persistent weakness in the Treasury yields. The US

What you need to know on Monday, April 19: The American currency extended its decline against most major rivals as the week came to an end, as risk appetite led.  US indexes kept rallying, with the DJIA and the S&P 500 reaching record highs, as solid US macroeconomic figures hint at a substantial economic comeback

AUD/USD is edging lower in the American session. On a weekly basis, AUD/USD is up more than 100 pips. US Dollar Index struggles to stage a meaningful rebound. The AUD/USD pair rose to 0.7760 earlier in the day but lost its traction during the American trading hours. As of writing, the pair was down 0.2%

Previewing the Bank of Canada’s (BoC) policy meeting, TD Securities analysts said that they expect the bank to reduce its government of Canada (GoC) bond purchases from $4 billion per week to $3 billion per week, as reported by Reuters. Key quotes “In light of the much stronger than expected economic data over the last quarter,

Equity markets continue to set new highs as macro data supports bulls. Refinitiv data shows money market fund redemptions but still inflows to equities. Earnings season switches from bank stocks to reopening plays. Stay up to speed with hot stocks’ news! Equity markets continue to remain bolstered from all sides as the macro environment produces

The Swiss National Bank (SNB) said on Friday that it acknowledges the US Treasury report and noted that it is no longer described as a currency manipulator, per Reuters. Additional takeaways “Currency interventions not aimed at impacting the balance of payments or giving the country an unfair competitive advantage.” “Currency interventions necessary to ensure price

Additional headlines are crossing the wires from China’s National Bureau of Statistics (NBS), as the press conference continues after the release of the country’s key economic data. Based on Q1 indicators, the economy has got off to good start. There has been continued improvement in production and demand. QoQ growth still shows continued growth of major

A solid Australian employment reading has seen AUD outperform most of its peers, and economists at TD Securities maintain a constructive near-term view on the aussie.    The AUD has enjoyed a notable reversal of fortunes  “Investors opted to fade the strong headlines in Australia’s March employment reading amid a quibble with the full-time/part-time split.