USD/CAD consolidates weekly losses as it reverses from the intraday low of 1.3683 to 1.3710 during early Friday morning in Europe. The Loonie pair’s latest rebound could be linked to the WTI crude oil’s pullback, Canada’s key export earner. In doing so, the quote struggles to justify the US Dollar’s second consecutive daily loss amid […]
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17
Mar
Mar
USD Index remains under pressure and challenges 104.00 ahead of data
The selling pressure keeps dominating the sentiment around the greenback and forces the USD Index (DXY) to confront the key support at 104.00 at the end of the week. USD Index looks at data, risk trends The index retreats for the second session in a row on Friday amidst the persistent recovery in the appetite for the […]
17
Mar
Mar
USD/CHF pulls back amid improved sentiment on Credit Suisse front
USD/CHF retreated from the 0.9300 mark in early Asian trading hours on Friday. The broad-based US Dollar weakness has led the pair to erase some of the previous day’s gains and head toward Thursday’s low at 0.9230. Improved risk appetite has pushed the US Dollar lower amid slightly softer US Treasury yields. The Swiss Franc […]
17
Mar
Mar
AUD/USD still seen within 0.6570-0.6735 – UOB
In the opinion of UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, AUD/USD is likely to extend the range bound theme for the time being. Key Quotes 24-hour view: “AUD traded sideways between 0.6612 and 0.6669 yesterday, narrower than our expected range of 0.6585/0.6680. Further sideways trading appears likely, expected to be […]
17
Mar
Mar
XAU/USD climbs back closer to six-week high amid banking crisis fears
Gold price regains some positive traction following the previous day’s good two-way price moves and maintains its bid tone through the early European session on Friday. The XAU/USD is currently placed just above the $1,930 level, up over 0.60% for the day, and remains well within the striking distance of a six-week high touched on […]
17
Mar
Mar
Platinum to reach $1,250 toward the end of the year – ANZ
Economists at ANZ Bank expect Platinum to enjoy gains this year and hit the $1,250 mark by the end of 2023. Long-term negative view on Palladium “Improving auto sector growth, higher loadings and substitution away from Palladium are likely to benefit Platinum.” “Auto catalyst demand is likely to grow by 5% YoY. Constrained supply and […]
17
Mar
Mar
US Dollar struggles to find demand as mood improves
Here is what you need to know on Friday, March 17: As the market mood continues to improve on easing concerns over a deepening financial crisis toward the end of the week, the US Dollar is having a tough time staying resilient against its major rivals. Eurostat will release February inflation data (revision) in the […]
17
Mar
Mar
Euro will only appreciate again slowly – Commerzbank
The Euro did not appreciate following the ECB decision. However, economists at Commerzbank expect to see higher EUR/USD levels. Why did we not see EUR strength following the ECB decision? “The market is clearly more concerned about the ECB not being sufficiently sensitised to the risks rapid rate hikes might involve following years of zero and negative […]
15
Jun
Jun
Chart of The Day
A big day has come for the US equities, and global financial markets in general. FOMC is set to announce another rate hike this evening at 7:00 pm BST. There is a scope for a surprise as economists and major banks are divided on whether the hike will be by 50 basis points or by […]
15
Jun
Jun
All eyes on The Fed
European indices set for higher opening Fed rate decision at 7:00 pm BST ECB calls emergency meeting Stock markets in Europe are set for a higher opening of the cash trading session today. Moods improved following the release of better-than-expected activity data from China overnight. EUR is trading higher as ECB called an emergency governing […]