AUD/USD witnesses a modest pullback from the vicinity of a two-month high set on Thursday. The USD short-covering move is seen as a key factor exerting downward pressure on the pair. The risk-on impulse offers some support to the risk-sensitive aussie and limits the downside. The AUD/USD pair faces rejection near a technically significant 200-day… Read More »
USD/CAD attracts some dip-buying on Friday amid a modest pickup in the USD demand. The prospects for additional Fed rate hikes, elevated US bond yields benefit the greenback. The recent rally in oil prices could underpin the loonie and keep a lid on any further gains. The USD/CAD pair rebounds a few pips from the… Read More »
USD/JPY gains traction on Friday and moves away from over a one-week low set the previous day. The Fed-BoJ policy divergence and a positive risk tone undermine the JPY and act as a tailwind. The recent hawkish remarks by Fed officials help revive the USD demand and remain supportive. The USD/JPY pair builds on the… Read More »
NZD/USD continues scaling higher on Friday and climbs to over a two-month high The uncertainty over the next Fed rate hike keeps the USD bulls on the defensive. A positive risk tone also seems to cap the USD and benefits the risk-sensitive kiwi. The NZD/USD pair prolongs this week’s strong move up and gains traction… Read More »
Steel price prints mild gains on the way to fourth weekly uptrend. China real-estate market’s conditions, restart of steel manufacturing units challenge bulls. Fedspeak, US-China tussles and firmer yields are an extra burden on the metal prices. Increased prices of iron ore, recently easy inflation data add to the bullish catalysts. Steel price grinds higher… Read More »
USD/INR grinds higher after rising the most in six weeks the previous day. Hawkish Fedspeak, fears surrounding China challenge traders ahead of long weekend in India. Indian CPI is likely to have eased in July but the distance from RBI’s target will be the key to watch. USD/INR braces for Indian inflation around 79.65-70 during… Read More »
USD/CAD treads water around the lowest levels in two months. Global markets jitter as Fed policymakers resist cheering easy inflation figures. OPEC, IEA oil demand forecasts join cautious mood to weigh on energy prices. Flash forecasts for August month Michigan Consumer Sentiment Index will be crucial for fresh impulse. USD/CAD dribbles inside a choppy range… Read More »
Gold price remain mildly offered as bears attack short-term key support line. Market’s inaction amid a light calendar restricts immediate XAU/USD moves. Inflation, Fed and China are in focus after the recent risk-positive data stream. Preliminary readings of August month Michigan Consumer Sentiment Index will be important for clear directions. Gold price (XAU/USD) stays depressed… Read More »
WTI retreats from one-week high, probes two-day uptrend. OPEC, EIA anticipate world energy demand to ease in 2022, and increase next year. Mixed sentiment, light calendar could restrict short-term moves. US Michigan Consumer Sentiment Index eyed for clear directions. WTI crude oil prices remain sidelined at around $93.30-35 during Friday’s Asian session, pausing a two-day… Read More »
“The Reserve Bank of New Zealand (RBNZ) will stick to its hawkish stance and deliver a fourth straight half-point rate hike on Wednesday in its most aggressive tightening in over two decades to try to rein in stubbornly-high inflation,” as per the latest Reuters poll published early Friday morning in Asia. Key findings All 23… Read More »
