FX

Gold bounces off the ascending channel’s lower boundary support as a bullish impulse emerges. The MACD reinforces XAU/USD’s uptrend on the daily chart. The bearish leg may continue toward $1,650 if the channel’s middle boundary support fails to hold. Gold has continued to drop from January highs around $1,950 amid a stronger US dollar. The

The S&P 500 and Dow both hit record closing highs for a second session, having recovered from a pre-market sell-off. The Nasdaq 100 was unable to recover into the green as rising long-term interest rates weighed. Strong US data, reopening/pandemic optimism and fiscal stimulus optimism all helped support risk appetite. In the end it was

US equities struggled to follow Thursday’s records with mixed indices. Nasdaq down nearly 1%, Dow sets another record up 0.9% and S&P up 0.1%. Inflation ticks back into consciousness, PPI rises and 10 Year pops to 1.63%. Major US indices struggled to eke out gains on Friday to end the week on a positive note. The week

EUR/USD comes down and tests the 1.19 area on Friday. A drops and test of recent lows near 1.830 is not ruled out. The bull run in EUR/USD met a tough barrier in the vicinity of the psychological 1.20 hurdle in the second half of the week. The continuation of the offered bias could motivate

EUR/JPY bulls face prospects of a significant correction ahead od the target.  The Momentum is strong with the pair, as the US dollar pulls back.   The US dollar has stalled and the euro has corrected higher.  As per the prior analysis, EUR/JPY Price Analysis: Bulls need a break, well, that is exactly what they got. 

DXY adds to the ongoing weakness well below the 92.00 level. Next on the downside emerges the 100-day SMA at 91.17. The index easily broke below the 92.00 support and opened the door to further decline in the short-term horizon. It currently navigates the mid-91.00s, where also coincide the February peaks. The continuation of the

USD/CAD fades bounce off 1.2610 after two consecutive days of downside. WTI keeps recovery moves from $63.38, US Treasury yields play their role. BOC couldn’t impress traders with status-quo, US jobless claims, BOC’s Schembri eyed. US President Biden’s speech, signing of stimulus will be the key. USD/CAD seesaws around 1.2620, directionless after recent weakness, during

EUR/JPY adds to Tuesday’s gains above the 129.00 yardstick. Next on the upside emerges the YTD highs near 130.00. EUR/JPY extends the weekly recovery past the 129.00 level on Wednesday. While extra consolidation looks likely in the very near-term, bulls still appear in control and keep targeting the 2021 highs just below 130.00 (February 25).

The Reserve Bank of New Zealand has put out a press release that state that Te Pūtea Matua today announced that it will be removing some of the temporary liquidity facilities put in place during the COVID-19 pandemic. Press release The specific measures include: The removal of the Term Auction Facility (TAF) where banks have

NZD/USD looks to snap a four-day losing streak. US Dollar Index retreats to 92.00 area as US T-bond yields stage a deep correction. NFIB Business Optimism Index in US improved modestly in February. The NZD/USD closed the fourth straight day in the negative territory on Monday but staged a decisive rebound during the first half

USD/JPY is USD/JPY consolidating just below 109.00 level ahead of key Japanese data. The pair surged for a fourth day on Monday as higher US bond yields drove the US dollar higher. USD/JPY is consolidating just beneath the 109.00 level after hitting fresh highs since last June, having ended Monday’s session up about 0.4% or

GBP/USD is under pressure as US growth expectations boost the dollar. The UK’s reopening and rapid vaccination campaign are helping sterling hold up but the cable is set to succumb to dollar strength, Yohay Elam, an Analyst at FXStreet, reports. Key quotes “Britain’s first stage of reopening is a boost to the economy as parents

NZD/USD keeps Friday’s corrective pullback without gaps at weekly open. Treasury yields stay strong near February 2020 high amid reflation fears. US dollar bulls cheered upbeat jobs report, reaction to Senate’s passage of stimulus awaited. China’s Trade Balance jumped 60% during January-February, no major data/events up for publishing in Asia. NZD/USD stays mostly unchanged from

China’s Trade Balance for January and February, in Yuan terms, came in at CNY675.86 billion versus CNY369.73 billion expected and CNY516.81 billion last. The exports in the first two months of 2021 surged by a whopping 50.1% vs.11.2% expectations and 10.9% last. Imports arrived at 14.5% vs.-2% market forecasts and -0.2% prior. In USD terms,

PLTR sees whipsaw on Friday in a choppy session. PLTR has struggled for momentum, post Q4 results PLTR down nearly 50% from January highs. Update: Palantir shares finished the day on Friday nearly 3% lower but it could have been a lot worse. Markets bounced sharply from mid-afternoon lows as profit taking and bargain hunting in

NIO shares have fallen nearly 40% from January highs. NIO is a heavily favoured retail interest stock. NIO shares had a stellar rise in 2020. Update: Shares in NIO rode the volatile session on Friday as markets whipsawed following the US jobs report. NIO bounced from lows of $31.91 to close Fiday at $38.11 a loss

Major indices whipsaw post the US Employment report on Friday. Nasdaq, S&P, and Dow all end Friday in positive territory. Nasdaq declines for the third straight week. Well what a session that was, indices close up near session highs, having posted a strong recovery in the second half of Friday’s trade. The US Employment report surpasses

The strong buying interest around USD/JPY remained unabated on the last trading day of the week. A broad-based USD strength was seen as a key factor that pushed the pair to fresh nine-month tops. Investors now look forward to the closely watched US monthly jobs report for a fresh bullish impetus. The USD/JPY pair continued