FX

The Dow Jones shed over 500 points in the midweek market session. Investors balked after US PMIs came in firmly mixed and key earnings missed. US Manufacturing set to slow further, but Services PMIs expanded. The Dow Jones Industrial Average (DJIA) fell over 500 points on Wednesday after US Purchasing Managers Index (PMI) figures came

NZD/USD trudges below the 0.6070 level, marking its worst week since January. The pair closed at 0.6010, indicating a weekly loss of approximately 1.80%. NZD/USD remains under the key SMA of 20, 100, and 200 days, pointing to a sustained bearish bias. In Friday’s session, the NZD/USD sustained its downward momentum, dropping by 0.65% to

Mexican Peso strengthens by 0.35% as traders fully price in the Fed rate cut for September. Banxico’s dovish comments and Fed Chair Powell’s balanced mandate remarks influence market sentiment. US Dollar Index (DXY) rises slightly to 104.18; US Retail Sales data meet expectations. The Mexican Peso recovered and registered gains of more than 0.35% against

US Dollar continues losing ground in light of weak CPI figures and UoM data. Markets still foresee a September rate cut. Despite hot PPI data, US Treasury yields are falling, diminishing allure of USD. The US Dollar Index (DXY) remains weak on Friday, sitting at April lows. This is largely a response to the soft

Dow Jones found early highs before settling back into the low end. New trading week kicks things off with a breather after Friday’s NFP. US consumer and wholesale inflation figures are due this week. The Dow Jones Industrial Average (DJIA) whipped on Monday, briefly testing fresh highs and breaking out of Friday’s tight churn before

Gold prices edge up 0.15% amid thin trading on US Independence Day. XAU/USD reached a two-week high of $2,365 Wednesday, driven by weak US jobs data and heightened Fed rate cut expectations. Traders shift focus to Friday’s Nonfarm Payrolls report, following the US holiday closure. Gold prices registers minimal gains on Thursday amid thin liquidity

S&P 500 ran well into the data release, surged only to reverse in a four-hours selling streak. Some sectoral culprit? No, long-dated bonds did it – TLT daily slide did it. Was it fundamentally justified? Usually, you would see USD go up in tandem, but that didn‘t happen. The selling looks to me to be

Australian Dollar is a top performer from the session, favored by hot CPI figures from May. Following May’s hot CPI figures, the market closely watches further inflation indications for potential RBA action. If the RBA holds hawkish, the downside for the Aussie is limited. Wednesday’s session observed an incline in the Australian Dollar (AUD), as

Gold reverses gains after hitting daily high of $2,368, down more than 1.70%. Strong US S&P Global PMI data boosts the US Dollar, with the DXY rising 0.14% to 105.80. Mixed US economic data keeps Fed rate cut speculation alive. Gold prices reversed course on Friday, moving down more than 1.70%. Economic data from the

USD/JPY reaches daily high above 158.00, trading above key moving averages. Technical indicators show bullish momentum, with resistance at 158.25 and 158.44. Key support levels include 157.00, Senkou Span A at 156.16, and Kijun-Sen at 155.93. The USD/JPY edges higher for the fourth straight day and registers modest gains of 0.08% after hitting a daily

Broadcom could be the next company to join the trillion dollar club. Wednesday’s earnings release showed another beat-and-raise announcement that has become commonplace. Markets consolidate on Friday after week’s CPI-led fireworks. Michigan Consumer Sentiment drains, sending NASDAQ lower. Broadcom (AVGO) stock exploded 12% on Thursday, quite a feat for a company already valued at more

Canadian Dollar mostly mixed on Monday, flat against USD. Canada mostly absent from economic calendar this week. Speech from BoC Macklem due in the midweek market session. The Canadian Dollar (CAD) is holding flat against the Greenback to kick off another trading week as momentum in the CAD space remains thin. Markets are still recovering

Gold climbs 0.54% and reaches a two-week high of $2,378. Higher-than-expected US jobless claims weaken US Dollar and stabilize Treasury yields. Traders focus on upcoming Nonfarm Payrolls; forecasts suggest 185,000 new jobs with a 3.9% Unemployment Rate. Gold hit a two-week high of $2,378 on Thursday after the US Bureau of Labor Statistics (BLS) announced

The daily RSI is pointing upwards, hovering around 70, but continuing red bars in the MACD show a trailing consolidation. On the hourly chart, indicators are neutral and reside in the positive terrain. The 20-day SMA at 169.00 serves as an important threshold for sellers. On Friday’s trading session, despite recent downside corrections, the EUR/JPY

USD/JPY rises to 157.67, driven by Federal Reserve’s commitment to higher rates. Technical indicators show strong bullish momentum, with key resistance at 158.00. Intervention threats by Japanese authorities keep buyers cautious as pair advances. The USD/JPY climbs to a four-week high yet it remains capped by intervention threats by Japanese authorities. Federal Reserve officials’ tough

Gold climbs 0.23% on Friday but is set for weekly drop above 3%. US Durable Goods Orders exceed expectations, though March’s revised down data softened the impact. XAU/USD recovers on mixed US data that weighs on US Dollar. Traders now anticipate only 25 basis points of Fed rate cuts in 2024, reducing expectations for easing.

What you need to take care of on  Wednesday, May 22: Financial markets made no progress on Tuesday, with major pairs holding on to familiar levels and within tight ranges. The US Dollar saw a modest uptick amid a risk-averse environment, with Asian and European indexes closing in the red. Wall Street, however, managed to

The Greenback lost further ground and dropped to multi-week lows on the back of rising expectations of interest rate cuts by the Fed, a view that was further reinforced by lower US CPI data in April The Greenback remained on the back foot and dragged the USD Index (DXY) to the 104.00 zone amidst an