Share: The continuation of the bullish move could push USD/CNH to the 7.0500 area in the near term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “The strong surge in USD to a high of … [Continue reading]
Japan’s Goto: GDP data shows moderate economic pickup continuing
Share: Following the release of the Japanese Q1 Gross Domestic Product (GDP) data early Wednesday, the country’s Economy Minister Shigeyuki Goto said that “GDP data shows moderate economic pickup continuing.” Additional takeaways Economy likely to … [Continue reading]
US government CDS spreads decline as debt ceiling negotiations progress
Share: “A measure of the cost to insure exposure to U.S. government debt declined on Tuesday as Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a debt default,” said Reuters early … [Continue reading]
GBP/USD bulls are holding the fort in key support
Share: GBP/USD bears are in the market testing daily support. Sterling bulls eye a move towards 1.2550s. GBP/USD is trading at around 1.2480 and has traveled between a low of 1.2465 and a high of 1.2546 so far on the day. The British … [Continue reading]
USD/JPY retakes 136.00 as hawkish remarks by Fed’s Mester help revive USD demand
Share: USD/JPY reverses an intraday dip amid the emergence of some USD dip-buying on Tuesday. Hawkish remarks by Fed’s Mester lift bets for additional rate hikes and boosts the Greenback. A softer risk tone could underpin the safe-haven JPY and cap … [Continue reading]
Spain 9-Month Letras Auction rose from previous 3.169% to 3.212%
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/INR Price News: Indian Rupee bounces off six-week low to 82.20 despite easing inflation pressure on RBI
Share: USD/INR prints the first daily loss in four, retreats from 1.5-month high. Softer India inflation figures, Fed’s dovish hike allow RBI to defend current inaction. WTI crude oil retreat, downbeat US data and mixed Fedspeak allows Indian Rupee … [Continue reading]
AUD/USD bulls flirt with 0.6700 ahead of RBA Minutes, China/US data amid US debt ceiling jitters
Share: AUD/USD grinds near intraday high after rising the most in a month, snapping two-day downtrend. Risk-on mood, PBoC inaction and hopes of hawkish RBA Minutes underpin Aussie pair’s run-up. Hopes of avoiding US default, softer US data favor … [Continue reading]
EUR/USD Price Analysis: Bulls eye a run to test trendline resistance near 1.0900-20
Share: A strong test of the trendline resistance in EUR/USD could be on the cards. US Dollar is pressured and gives EUR bulls an advantage from daily support. EUR/USD bull's eye a strong continuation on the correction to the 38.2% … [Continue reading]
Gold Price Forecast: Appetite for XAU/USD is whetting – ANZ
Share: Macroeconomic developments continue to present a bullish backdrop for the Gold market, strategists at ANZ Bank report. Gold to ride on safe-haven demand “US banking sector issues, elevated interest rates and uncertainty around the debt … [Continue reading]