Share: WTI crude oil consolidates the biggest daily loss in three weeks. Mixed sentiment about US debt ceiling deal, Oil demand-supply concerns prod energy traders. Cautious mood ahead of the key data/events also restricts immediate WTI moves. US … [Continue reading]
Australia Retail Sales s.a. (MoM) came in at 0% below forecasts (0.2%) in April
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
USD/JPY soars to highest level since November 2022, following US data release
Share: USD/JPY reaches yearly highs and positions near the 140.00 level. US Q1 GDP grew by 1.3%, surpassing expectations, while Jobless Claims exceeded estimates. Core PCE inflation rose 5% in Q1. Investors are eagerly anticipating today's release … [Continue reading]
Gold Price Forecast: XAU/USD extends its bearish route
Share: XAU/USD Current price: $1,946.67 Risk aversion continues to favor the Greenback as US lawmakers struggle to clinch a deal. The US Gross Domestic Product was upwardly revised in Q1 from 1.1% to 1.3%. XAU/USD remains at the lower end of its … [Continue reading]
EUR/SEK: Krona’s near-term outlook remains grim – ING
Share: Losses in the Krona over the past week have exceeded those of any other G10 currencies. Economists at ING note that SEK recovery path remains very narrow, and almost fully dependent on market dynamics. It is up to the market to turn the tide … [Continue reading]
EUR/USD Price Analysis: Double bottom around 1.0760 keeps Euro buyers hopeful
Share: EUR/USD picks up bids to consolidate recent losses, forms bullish chart pattern. Convergence of 50-HMA, 100-HMA and fortnight-long resistance line appears a tough nut to crack for Euro buyers. Sellers can aim for late March swing lows on … [Continue reading]
AUD/USD bears attack 0.6600 amid risk aversion, Fed Minutes, US debt ceiling eyed
Share: AUD/USD holds lower grounds at weekly bottom after posting the biggest daily loss in a week. Risk appetite weakens after chatters that US Treasury requested agencies to delay payment while policymakers appear less optimistic of late. Fed … [Continue reading]
Gold Price Forecast: XAU/USD holds within familiar level ahead of FOMC Minutes
Share: XAU/USD Current price: $1,971.81 The FOMC Meeting Minutes could shed some light on the future of monetary policy. Mixed S&P Global PMIs added to the sour ruling mood. XAU/USD keeps seesawing within familiar levels and is at risk of … [Continue reading]
MXN and HUF could continue to do well unless US debt-ceiling negotiations take a turn for the worse – ING
Share: Lower volatility is favouring the carry trade, where currencies in Latin America and Central and Eastern Europe offer the highest risk-adjusted yields, economists at ING report. Dollar does ok in a carry trade world “The stand-out is the … [Continue reading]
USD/CNH: Upside momentum appears to struggle – UOB
Share: The likelihood of a probable test of 7.0960 in USD/CNH now appears somewhat dwindled according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “Yesterday, we expected USD to ‘trade in a … [Continue reading]