FX

GBP/USD Price Analysis: Pokes weekly resistance line around 1.2100 GBP/USD picks up bids to extend the previous day’s recovery to 1.2100 during Wednesday’s Asian session. In doing so, the Cable pair approaches a one-week-old resistance line while also portraying the third bounce off the 50% Fibonacci retracement level of July-August advances. Read More … GBP/USD

Senior Economist at UOB Group Alvin Liew comments on the publication of Japanese Q2 GDP figures. Key Takeaways “Japan’s 2Q 2022 GDP missed market expectations, as it grew by 0.5% q/q, 2.2% q/q SAAR (versus Bloomberg est: 2.6% q/q SAAR, but in line with UOB est 2.2% q/q SAAR) while the -0.5% contraction in 1Q

As per the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, US inflation expectations begin the week on a negative note while declining to 2.44% at the latest. In doing so, the inflation precursor snapped two-day inaction by adding to the market’s cautious mood ahead of Wednesday’s Federal Open Market Committee (FOMC)

Further upside is likely to prompt USD/MYR to revisit the 4.4615 level in the short-term, according to FX Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research. Key Quotes “Our view for USD/MYR to edge higher last week was incorrect as it dropped sharply to 4.4310 before rebounding. USD/MYR traded on a

GBP/USD Price Analysis: Contemplating the next direction amid a big week GBP/USD is licking its wounds while trading around the weekly close near 1.2140, as the US dollar clings to Friday’s recovery gains in early Asia this Monday. The greenback staged a solid comeback, despite a strong rally on Wall Street indices, as dollar bulls

USD/CAD is set to finish the week with losses of 1.22%. The University of Michigan Consumer Sentiment for August surprises the upside and boosts the greenback. US Fed officials are still committed to tackle inflation and reiterated their job is not done. USD/CAD advances on Friday, erasing Thursday’s losses, after a positive US consumer sentiment

Based on a softer US inflation report, USD/JPY climbs during the week by 1.14%, after a volatile last three days. USD/JPY is neutral biased, but a doji emerging in the daily chart could pave the way for further upside. In the near term, the major is sideways, though oscillators point upwards, so it is slightly

Analysts at MUFG Bank, have the idea of a shorting the EUR/USD pair around 1.0290 with a target at 0.9900 and a stop-loss at 1.0540. They consider that European circumstances create uncertainty for the euro and market participants could start pricing in more tightening from the Federal Reserve.  Key Quotes: “We are sceptical of the

CSSE stock tanked 10.4% in Friday’s premarket. Chicken Soup for the Soul reported a wide GAAP loss of $-1.39 in Q2. CSSE just concluded its acquisition of Redbox on Thursday. UPDATE: Chicken Soup for the Soul stock is down 12.4% to $12.42 in the first hour of Friday’s session. This is actually worse than the premarket where

The index manages to leave behind part of the recent drop. US yields come under some mild downside pressure. Preliminary Consumer Sentiment next on tap in the docket. The greenback attempts a tepid rebound and revisits the low-105.00s when tracked by the US Dollar Index (DXY) at the end of the week. US Dollar Index

Fresh US data shows a slowdown in inflation. Banxico is expected to hike rates by 75 basis points on Thursday. USD/MXN falls for the fourth consecutive day. The USD/MXN printed a fresh monthly low on Thursday at 19.90. It remains near the bottom, under pressure ahead of Banxico’s decision and amid a weaker US dollar.

USD/CAD prints mild gains as it consolidates the biggest daily fall in two-months. Six-week-old support line, 200-DMA challenged bears but 100-DMA guards recovery moves. Sluggish MACD, RSI (14) fail to support recovery moves from the lowest levels since early June. USD/CAD grinds higher around the daily top as it pares the biggest daily slump since

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.5% in the third quarter, up from 1% in the previous estimate. “After recent releases from the US Bureau of Labor Statistics and the US Census Bureau, the nowcast of third-quarter real personal

Asian equities have dropped sharply as investors have turned risk-averse ahead of US Inflation. China’s inflation has increased to 2.7% but remained lower than expectations of 2.9%. Oil prices have slipped back below $90.00 on inventory buildup reported by API. Markets in the Asian domain are displaying a vulnerable performance as investors have turned risk-averse

The USD continues to show a high correlation to US data surprises, so the Consumer Price Index (CPI) report should signal the direction. Economists at TD Securities will be short-term focused on whether this number shakes resilient risk sentiment, as that will also help inform near-term USD price action.  EUR/USD to remain in its broad

Analysts at Goldman Sachs offer a bullish outlook on USD/JPY, with a target set close to 140.00 again. Key quotes “After last week’s rates rally, we see upside risks to USD/JPY on a tactical horizon, as our rates strategists think risks to real yields are still skewed to the upside, which should continue to exert

Nvidia lowered its estimates for Q2 revenue ahead of schedule. The semiconductor said gaming revenue was the primary culprit. NVDA stock shed in early Monday trading 6% on the news. Nvidia (NVDA) is down 6% at $178.55 after the world’s premier GPU designer released preliminary second-quarter forecasts that underwhelmed expectations by a mile. The fabless

AUD/USD picks up bids to refresh intraday high around 0.6920 during the mid-Asian session on Monday. The Aussie pair’s latest gains could be linked to the options market optimism, despite hawkish Fed bets and the Sino-American tension. That said, the one-month risk reversal (RR) of the AUD/USD rose for the third consecutive day on Friday,