FX

SNAP shares are weaker on Monday after a surge on Friday. Investors SNAP up shares after solid results on Thursday.  Morgan Stanley adds to the recent upgrades for SNAP. Update: Shares in SNAP were softer in early trading on Monday after the stock surged 9% higher on Friday. The catalyst had been the solid results

Japan’s economic recovery from the coronavirus pandemic induced worst postwar recession is seen losing steam in the October-December quarter, according to the latest Reuters poll of economists. Key findings “The economy is said to have marked a quarter-on-quarter expansion of 2.3% in October-December, as improving exports made up for some of the weakness in consumption.”

What you need to know on Monday, February 8: The greenback gave up ground on Friday, ending the week with uneven results. The catalyst was a mixed US employment report, which showed a tepid job creating a downward review to December figures, but an improving unemployment rate. Commodity-linked currencies were able to post modest weekly

NYSE: GME has kicked off Wednesday’s trading with a surge of some 20% to above $100.  Bargain-seekers are jumping on GameStop Corp after it lost 60%. Retail traders on WallStreetBets have been split over the move to silver. Update: GameStop (NYSE: GME) is for a second consecutive day of moderate gains – an increase of roughly

It was a solid day at the end of what has been a very solid week on Wall Street. The S&P 500 and Dow posted five days in the green in a row. The Nasdaq 100 and S&P 500 both hit fresh all-time highs on Friday. A solid day at the end of what has

USD/JPY dropped for the first time in eight days after hitting its highest levels since October 2020. The US dollar fell following downbeat NFP data, but yen was weighed by higher US yields and risk on. USD/JPY posted its first day in the red in eight, after the USD slumped to the bottom of the

US Goods and Services Trade Balance came in slightly worse than expected. US Dollar Index continues to push lower toward 91.00.  The goods and services deficit of the United States declined by $2.4 billion to $66.6 billion in December, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Friday.

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Following the Bank of England’s (BoE) decision to leave the policy rate and the Asset Purchase Facility unchanged at 0.1% and £895 billion, respectively, BoE Governor Andrew Bailey is delivering his remarks on the policy outlook. Key quotes “Economic outlook risks have become more two-sided.” “Not easy to reach a firm view on how much

As represented by the spread between Italy and German 10-year bond yields, the Italian risk premium fell on Wednesday, as the European Central Bank’s former pro-EU chief Mario Draghi accepted a mandate to try to form a new Italian government.  The spread fell by eight basis points to 106 basis points as investors cheered the

A goodish pickup in the USD demand prompted fresh selling around GBP/USD on Wednesday. The downside is likely to remain limited as the focus remains on the BoE meeting on Thursday. Investors look forward to the US ADP report and ISM Services PMI for some trading impetus. The GBP/USD pair maintained its offered tone through

Silver consolidates Tuesday’s loses, the biggest in six month, while bouncing off weekly bottom. Risk gains in Asia amid chatters over US stimulus talks, receding retail rush. DXY jumped to two-month high before easing off-late. China Caixin Services PMI, US aid package talks can entertain traders ahead of the key US data. Silver picks up

Gold (XAU/USD) continues to trade sideways as the yellow metal mostly moved in a very tight range in January, hovering from $1825 to $1875. Howie Lee, Economist at OCBC Bank, expects gold to go on trending sideways. Key quotes “Gold bears are quick to pounce once levels exceed $1850 and the bulls look unconvinced as

NZD/USD teases Monday’s low amid failure to keep the bounce off 0.7153. US dollar benefits from downbeat data, market frenzy and chatters over US stimulus. Traders in Auckland return from long weekend without any major data/events. RBA, risk news become the key for fresh impulse. NZD/USD struggles to mark another recovery wave from 0.7150-55 area

The single currency starts the week on the defensive vs. the greenback following two consecutive sessions with gains as the EUR/USD pair extends the rangebound trading above 1.2100. Extra consolidation looks likely, according to FXStreet’s Pablo Piovano. Key quotes “The progress of the coronavirus pandemic along with the vaccine rollout and the upcoming debate on

AUD/USD begins February with a gap-down after taking a U-turn from highest since March 2018 peak the previous month. Gyrations in stocks, five-day lockdown in Perth and downbeat China PMIs favor sellers. Second-tier data from Australia, China’s Caixin Manufacturing PMI will decorate the calendar in Asia. AUD/USD kick-starts February with a downside gap from 0.7641

GBP/USD has slipped back from session highs around 1.3750 and is back under 1.3700. Volumes are now dropping off, however, as the weekend approaches. Liquidity is dropping off and news flow slowing down as a very choppy week draws to a close. GBP/USD is ending the session towards the upper end of this week’s range

Major US bourses dropped on Friday as investors fret about the fall-out of the recent retail trader induced frenzy on financial stability. The S&P 500 and Dow both erased their gains for the year. It was an ugly finish to the week on Wall Street with all three major indices dropping and no sector spared