FX

The markets are now in wait and see mode for the NFP. NZD/USD sits near the lows as it consolidated another bid in the greenback. NZD/USD is down some 0.2% in the early stages of Friday in Asia as traders walk in with US Nonfarm Payrolls slated for the US session. At the time of

The policymakers of the European Central Bank will hold a special meeting in Frankfurt next week to reach a decision on a new definition of price stability, as a part of the institution’s strategy review, Bloomberg reports, citing David Marsh, Chairman of the Official Monetary and Financial Institutions Forum. Key takeaways “The meeting is expected to start

NZD/USD is under pressure again as the US dollar soars to fresh highs.  All eyes will now be with the NFP event on Friday while otherwise, bets are on a recovery in NZD. NZD/USD is currently trading at 0.6984 and is a touch lower on the day after having its wings clipped again on US

Gold (XAU/USD) is approaching the 2019-2021 uptrend line at $1735, which is expected to hold the initial test, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports. See – Gold Price Forecast: XAU/USD to continue suffering bearish pressure this week – OCBC Gold remains above the 2019-2021 uptrend line at $1735 Gold stays directly

Sterling dips on COVID-19 jittters The currency markets are in a holding pattern, as investors cast an eye to Friday, when the US releases Nonfarm Payrolls. The dollar index has managed a slight gain on Tuesday, rising 0.21% to 92.06. The British pound dropped below the 1.39 line overnight. With concerns growing over the resurgence

Apple shares continue on their target of new record highs. Big tech names and Facebook (FB) especially all register gains. Apple targets $137 resistance on its way to new highs. Another day of solid gains for AAPL stock on the way to test the next resistance level at $137.07. Apple shares have been on a

Tesla stocks gives up some gains on Friday. TSLA still set for further gains after wedge breakout. A software recall on Tesla cars in China, not hurting premarket performance. Tesla shares gave up some recent ground on Friday as the stock closed just over 1% lower. But the shares still registered some impressive gains earlier in the

The European Central Bank (ECB) executive board member Fabio Panetta said on Monday that the “risk of second-round inflation effects remains limited.” Additional quotes “Do not seem to be on the path that the economy runs “hot”.” “The policy mix in Europe today is clearly superior to what we had before.” “Likelihood that Eurozone demand

AUD/USD is taking on the bear’s commitments is a significant correction. All eyes will be on the RBA 6 July meeting as the month draws towards a close. AUD/USD ended the day flat on Friday at 0.7586 after ranging between 0.7579 and 0.7616 following a slide from the late European trade highs despite a softer

GBP/USD Weekly Forecast: UK GDP, Delta covid strain woes may exacerbate BOE-led pain GBP/USD hit by dovish BOE, Delta plus covid strain despite Fed’s mixed signals. The cable’s fate hinges on UK quarterly GDP, Brexit updates and US data. GBP/USD decline is far from over, speculative interest aims to 1.3660. Central banks’ monetary policy signals

Boston Federal Reserve President Eric Rosengren said on Friday that they have to think about some of the side effects of a low-for-long interest rate strategy, as reported by Reuters. “Monetary policy may not be able to be accommodative for as long if financial stability risks are not addressed,” Rosengren further argued. “I’m worried that if

Short term Elliott Wave View in Amazon (AMZN) suggests the rally from May 11, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from May 11 low, wave ((1)) ended at 3312 and pullback in wave ((ii)) ended at 3172.2. The stock then resumed higher in wave ((iii)) which ended at

AUD/USD is benefitting from improved risk sentiment and higher commodities and stocks.  Technically, the bias is with the bears while below the weekly resistance.  AUD/USD is currently trading a touch higher by 0.12% on the day so far after rising from a low of 0.7565 to a high of 0.7591.  Without much in the way of

AUD/USD edged higher for the fourth consecutive session on Thursday. The risk-on mood extended some support to the perceived riskier aussie. A subdued USD price action remained supportive of the intraday uptick. The AUD/USD pair edged higher heading into the European session and was last seen hovering near the top end of its intraday trading

NIO shares up 4% on Wednesday as the stock recovers ground lost. NIO stock had been trending up nicely from May lows. XPeng (XPEV) to list in Hong Kong according to reports. Update 2: NIO shares continued to make progress on Wednesday with the Chinese electric vehicle maker up nearly 4% with just over one

The FOMC’s hawkish messaging last week helped to accelerate the recovery in USD/ZAR. Economists at Credit Suisse now expect USD/ZAR to trade in a noisy fashion between 13.60 and 14.40 (up from a previous forecast of 13.40-13.80). While there is a risk of wider lockdowns amid rising covid cases, local developments remain of secondary significance

USD/CAD is meeting a firm support area as Powell testifies. The bulls will be seeking an upside extension as the Fed turns hawkish. USD/CAD is currently trading at 1.2328 and down a touch by 0.23% following an extension of the prior day’s bearish correction. Funds topped out at a post-Federal Reserve hawkish hold high of 1.2487 on

Palladium gradually overcomes three-month low, up for second positive day. 50% Fibonacci retracement, 100-DMA guards immediate upside, multiple horizontal lines test the bulls afterward. Late March low, 61.8% Fibonacci retracement restrict short-term downside. Palladium (XPD/USD) holds onto the previous day’s recovery moves from mid-March lows, taking rounds to $2,595 heading into Tuesday’s European session. In