FX

Gold refreshes intraday high following a bounce off $1,705.84. US Treasury yields pause rally near multi-month top, S&P 500 Futures struggle to extend Wednesday’s recovery. Biden’s infrastructure spending gets rejection from business lobby, fresh lockdown in Canada, France jostles with mixed vaccine news. US-China tussle, downbeat China PMI also weigh on the sentiment. A successful

Aussie trims gains versus US Dollar on a mixed Wall Street. The dollar recovers some momentum even as US yields remain near daily lows. The AUD/USD peaked at 0.7636 on the first hours of the American session, but it quickly pulled back toward 0.7600. The move took place as some stocks in Wall Street pulled

AUD/USD retreats after initial corrective pullback on upbeat China data, risk-on mood. Failures to portray a decisive break above the key EMA suggest further downside, Yearly horizontal support in focus. Descending trend line from March 05 adds to the downside filters. AUD/USD fails to extend early Asian recovery moves while easing to 0.7604 during the

The International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva said on Monday that the IMS is planning to revise upward the previous forecast for 5.5% global growth in 2021, as reported by Reuters.  Additional takeaways “IMF will also raise 2022 forecast.” “Global economy is on firmer footing but there are prospects diverging dangerously within nations, across countries and regions.” “IMF

USD/CAD prints mild gains but stays above short-term SMA. Bullish candlestick, MACD signals join sustained trading above 21-day SMA to favor buyers. Sellers will have a bumpy road above February low. USD/CAD drops to an intraday low of 1.2583, down 0.05% on a day, during early Tuesday. In doing so, the quote fails to justify

Gold has been on the back foot in recent trade, with spot prices breaking below last week’s $1720s-$1740s range. Quarter-end flows, US data and President Biden’s infrastructure announcement are going to be the key drivers this week. Spot gold (XAU/USD) prices have been on the back foot in recent trade, with spot prices breaking to

US Secretary of State Antony Blinken talked down the prospects of improving American-Sino ties in a CNN interview on Sunday. Key quotes “There are clearly increasingly adversarial aspects to the relationship, there are certainly competitive ones.” “There were also areas of cooperation between the two countries.” These come after China sanctioned two US religious rights officials and

What you need to know on Monday, March 29: The American dollar eased on Friday but finished the week with gains against most major rivals. Stocks were up, weighing on demand for the greenback, also affected by profit-taking ahead of the close. The EUR/USD pair finished the week sub-1.1800, and near its 2021 low at

Spot gold continues to stick within a few dollars of its 21-day moving average within a tight mid-$1720s-mid-$1740s range. The precious metal has been caught this week between the conflicting forces of a strong USD but lower real yields. Spot gold prices (XAU/USD) continue to stick within a few dollars of its 21-day moving average,

US equity markets saw an aggressive rally into the Friday close, with the S&P 500 now back close to ATHs. US data was largely ignored, with investors reverting to default bullishness on the prospects for the US economic recovery. US equity markets were seemingly panic bought into Friday’s close, with the S&P 500 rallying nearly

Inflation concerns fade as Fed officials stay with the dovish theme. Oil takes flight as the Suez remains blocked. Stocks close out the week in the green but big tech struggles. Equities close nicely on Friday to cap a solid week of gains for the broader indices. The S&P 500 finished the week ahead by

Spot silver is currently consolidating close to $25.00 amid conflicting signals from FX and bond markets. The precious metal is subdued ahead of key risks events next week including US ISM manufacturing and NFP. Spot silver prices (XAG/USD), which currently trade lower by about 0.2% but have been swinging between gains and losses on Friday,

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It will take some time for the US economy and the job market to return to pre-crisis peak, Federal Reserve’s Vice Chairman Richard Clarida said on Thursday, as reported by Reuters. Additional takeaways “Fed will support the recovery until the job is well and truly done.” “US economy is much more resilient than forecast a year

GBP/USD Price Analysis: Vulnerable to further downside below 1.3700 Following its failures to recover from early-February lows, GBP/USD holds lower ground near 1.3690 during Thursday’s Asian session. The cable dropped to the multi-day low the previous day while extending the early week breakdown of 50-day SMA and an ascending support line from January 11, 2021.

Spot silver is higher on Wednesday despite a stronger US dollar, likely as a result of profit-taking. XAG/USD prices bounced at the $25.00 level and currently trade nearly 5.0% lower on the week. Despite an ongoing pick up in the fortunes of the US dollar on Wednesday spot silver prices (XAG/USD) are holding up fairly

US dollar index eases from two-week top amid bullish MACD. Monthly high, half-yearly resistance line and 200-day SMA test the greenback bulls. Sellers will not risk entries above four-week-old support line. US dollar index (DXY) steps back from the monthly peak, currently around 92.35, during early Wednesday. In doing so, the greenback gauge fades the

Economists at Nordea keep liking the pound as a result of a successful vaccine roll-out but medium-term perspectives remain unclear due to the second round of Brexit negotiations on Services. See: EUR/GBP to move lower as pound still set to benefit from faster vaccinations – Danske Bank Key quotes “There are reasons to be a little