FX

USD/TRY stays firm following the heaviest run-up in 31 months. Sustained bounce off early-month top, bullish MACD signals back buyers. 61.8% Fibonacci retracement levels, November 2020 levels lure bulls. USD/TRY picks up bids near the intraday high of 7.8450, currently up 0.50% near 7.8390, during early Tuesday. In doing so, the quote justifies its U-turn
The People’s Bank of China has left the one-year loan prime rate unchanged at 3.85%, and the five-year loan prime rate unchanged at 4.65%. There has been no reaction in the markets related such as the Australian dollar which trades at 0.7710 and higher on the day by 0.3%. Description of the PBoC Interest Rate Decision The PBoC Interest
What you need to know on Monday, March 22:  The American dollar finished the week with modest gains against most major rivals, up on Friday amid persistent yields’ strength. The yield on the benchmark 10-year Treasury note settled at 1.73%, near the multi-month peak of 1.75% achieved earlier in the week. The EUR/USD pair hovers
Inflation concerns are likely to keep investors’ focus for the week ahead. Equities stage a modest recovery on Friday after Thursday’s thrashing. Fed Chair Jerome Powell on the wires throughout next week. Equity markets are finishing out the week with mixed feelings after a solid thrashing on Thursday. This led to some profit-taking ahead of
AUD/USD refreshes intraday low, drops for consecutive second day. Australia’s preliminary Retail Sales dropped 1.1% in February. Market sentiment consolidates ahead of BOJ, US-China jitters probe the optimists. Treasury yields step back from 14-month top, S&P 500 Futures print mild gains. AUD/USD stands on a slippery ground while refreshing the intraday low with 0.7740, down
In another solid performance in the Aussie jobs market, Australia’s February Employment change arrived at +88.7K vs the expected +30K, a huge beat, with the Unemployment rate at 5.8% which was better than the expected 6.3%, down from a peak of 7.5% in July. Jobs details Employment Change: +88.7K vs the expected +30K, prior +29.1K   Unemployment Rate: 5.8% vs
USD/JPY bulls moving in on the resistance structure. USD/JPY traders will await the Federal Reserve in New York.  USD/JPY is turning higher as Tokyo gets going while the focus remains on the risk of the Federal Open Committee meeting later in the New York session. At the time of writing, USD/JPY is trading at 109.08
EUR/USD picks up bids inside immediate range between 1.1910 and 1.1940. Bearish MACD, 100-day SMA cross over 21-day SMA favor sellers. 200-day SMA, ascending trend line from early November offers strong support. EUR/USD seesaws inside a 30-pip trading range above 1.1910, currently up around 1.1930, during Tuesday’s Asian session. In doing so, the quote struggles
China is requesting Alibaba (BABA) to divest some of its media assets according to Reuters, citing the Wall Street Journal (WSJ). China is increasingly concerned about Alibaba’s growing influence over public opinion according to a report carried by Benzinga citing Dow Jones. Chinese officials are also reported to have reviewed Alibaba’s entertainment businesses but getting rid
The latest NZIER Consensus Forecasts (CF) show a downward revision to growth forecasts later this year the report shows.  However, it states that ”this partly reflects a higher starting point, as the recovery in demand after lockdown restrictions were relaxed turned out to be stronger than expected.” Key notes ”The downward revision to the medium-term