FX

Silver moves higher into bullish territory following dovish Fed. US dollar crumbles as the market comes back more into the line of a dovish Fed.  Silver prices are moving into the closing bell on Wall Street higher by almost 2% following a dovish outcome from the Federal Reserve which has weighed on both the rates

In Turkey, while investors’ expectations are heavily centred on a 100bp hike on Thursday, economists at Credit Suisse think that a larger rate hike could trigger a drop in USD/TRY below 7.40. Key quotes “Analysts’ forecasts for the central bank’s policy rate action tomorrow are heavily concentrated around a hike in the order of 100bps

GBP/CAD bulls looking for hourly support to hold and resistance to break.  Bulls can target a 38.2% Fibo of the weekly bearish run and 4-hour resistance first.  GBP/CAD is stalling on the downside. There are prospects for a significant correction within the current monthly bearish candle and three consecutive weeks of bearish closes.  The following is a

Coronavirus infections are spreading exponentially once again in the country, up 20% in the last week, Germany’s Robert Koch Institute (RKI) epidemiologist Dirk Brockmann told ARD television on Tuesday. Key comments “We are exactly on the flank of the third wave. That can no longer be disputed. And at this point we have eased the

XAG/USD bulls chipping away at daily resistance within a firming backdrop for commodities. Monthly, weekly time frames conflicting as markets adopt the greenback and await the FOMC. Silver has been chipping away at the upside as the bulls look to prior daily resistance and the US dollar makes small progress in prospects of breaching the

In opinion of FX Strategists at UOB Group, Cable is still seen navigating within the 1.3810-1.4020 in the near-term. Key Quotes 24-hour view: “Last Friday, we held the view that GBP ‘could strengthen but overbought conditions suggest any advance is unlikely able to maintain a foothold above 1.4020’. However, GBP fell sharply from 1.4005 to

What you need to know on Monday, March 15:  The American dollar eased heading into the weekly close against most major rivals, although retained its dominant strength. US Treasury yields provided support to the greenback, reaching fresh one-year highs.  The bond market volatility is expected to continue leading the way this week. Wall Street closed

The S&P 500 and Dow both hit record closing highs for a second session, having recovered from a pre-market sell-off. The Nasdaq 100 was unable to recover into the green as rising long-term interest rates weighed. Strong US data, reopening/pandemic optimism and fiscal stimulus optimism all helped support risk appetite. In the end it was

Gold bounces off the ascending channel’s lower boundary support as a bullish impulse emerges. The MACD reinforces XAU/USD’s uptrend on the daily chart. The bearish leg may continue toward $1,650 if the channel’s middle boundary support fails to hold. Gold has continued to drop from January highs around $1,950 amid a stronger US dollar. The

US equities struggled to follow Thursday’s records with mixed indices. Nasdaq down nearly 1%, Dow sets another record up 0.9% and S&P up 0.1%. Inflation ticks back into consciousness, PPI rises and 10 Year pops to 1.63%. Major US indices struggled to eke out gains on Friday to end the week on a positive note. The week

“We expect that the Fed will want to ensure that bond yields remain contained until its goals on both employment and inflation are in its sights,” says the Rabobank research team. Key quotes “Although it would appear that the Fed wants to avoid yield-curve-control, we haven’t ruled this out as a risk if the bond

Gold (XAU/USD) looks south, feeling the feeling of gravity amid a sharp rebound in the US Treasury yields. The benchmark 10-year rates recaptured the 1.50% key level amid stronger US jobs data and President Biden’s vaccine optimism. The revival of the reflation trades amid the US stimulus passage and vaccine progress is likely to bode

Gold prices dropped more than $20 from the daily high and bottomed at $1719 during the American session. The decline took place as US yields bounced to the upside. The recovery of XAU/USD is being challenged. After the European Central Bank meeting, following Lagarde’s press conference and ahead of the results of the 30-year bond

China equities extend US stimulus-backed gains in Asia-Pacific. Light calendar, Sino-American tussle and Aussie stimulus offer extra filters. US President Biden’s speech, ECB becomes the key. Asian shares stay on the front foot, except for Australia, as the passage of US President Joe Biden’s $1.9 trillion stimulus and upbeat Chinese equities favor bulls on early

The Mexican peso and emerging market currencies rise as Wall Street soars. USD/MXN still looking bullish; correction extends to test 21.00. The USD/MXN is falling for the second day in a row as equity prices rise sharply in Wall Street. The cross bottomed at 20.98, the lowest level in almost a week. So far, it

Gold Price Analysis: XAU/USD’s key levels to watch ahead of US CPI, stimulus vote – Confluence Detector Gold (XAU/USD) bulls take a breather after the 2% recovery rally witnessed on Tuesday. The haven demand for the US dollar has returned amid a cautious market mood, as investors await the House of Representatives vote on the

Upside correction in EUR/USD unable to make a run clear above 1.1900. US Dollar trims losses but remains under pressure on Tuesday. The EUR/USD is holding onto daily gains on Tuesday, ending a four-day negative streak. The pair peaked on European hours at 1.1914 and pulled back, finding support at 1.1880. As of writing, it

NZD/USD bulls are looking to the daily Fibos for a meaningful test of daily resistance.  Hourly oversold conditions and a break of resistance will expose the daily 50% mean reversion level. The price of NZD/USD is sitting at a monthly support level that meets a 38.2% Fibonacci retracement level as additional confluence.  At this juncture,