FX

Share: Jamie Dimon, Chief Executive Officer (CEO) of JPMorgan Chase & Co., cautioned against declaring victory against inflation too early, warning the Federal Reserve could raise interest rates above the 5% mark if higher prices ended up “sticky,” reported Reuters. That said, Reuters interviews JP Morgan’s Dimon and published his outlook on multiple issues ranging

Share: GBP/USD Forecast: Pound Sterling to face strong resistance at 1.2140 GBP/USD has gathered recovery momentum and advanced toward 1.2100 after having dropped below 1.2000 for the first time in a month on Tuesday. Market participants will keep a close eye on risk perception and Fedspeak in the absence of high-impact macroeconomic data releases. The

Share: GBP/USD retreats from intraday high but stays mildly bid around 1.2050 during Wednesday’s mid-Asian session. In doing so, the Cable pair portrays the sluggish markets while taking clues from the options market and the British fundamentals to probe bulls by cautiously defending the bounce off a one-month low. That said, one-month GBP/USD risk reversal

Share: Canada’s international trade deficit narrowed slightly in December. USD/CAD trades virtually unchanged on the day at around mid-1.3400s. Canada’s merchandise trade deficit with the world narrowed from C$219 million in November to C$160 million in December, Statistics Canada reported on Tuesday. This reading came in better than the market expectation for a deficit of

Share: EUR/USD consolidates recent losses around one-month low, probes three-day downtrend. ECB hawks forget the last week’s failed attempt to please bulls, upbeat EU data also favors Euro buyers. Receding concerns about US recession, hawkish Fedspeak exerts downside pressure on the pair. Fed Chair Powell, ECB’s Schnabel could entertain traders, Sino-American news are important too.

Share: In light of advanced prints from CME Group for natural gas futures, open interest extended the uptrend in place since January 24 and rose by around 10.5K contracts on Friday. Volume, on the other hand, shrank for the second session in a row, now by around 23.7K contracts. Natural Gas: Next on the downside

As markets await Federal Reserve (Fed) Chairman Jerome Powell’s reaction to the recently hawkish US data, sluggish inflation expectations seem to challenge the US Dollar Index (DXY) bulls during early Monday in Asia, following a two-day rebound from the multi-month low. That said, the US inflation expectations per the 10-year and 5-year breakeven inflation rates

USD/CAD resumed its uptrend once it reclaimed the February 1 daily high at 1.3379. USD/CAD Price Analysis: A daily close above 1.3400 will exacerbate a rally to 1.3500. otherwise, further downside is expected. USD/CAD climbs in the North American session after hitting a daily low of 1.3311 before Wall Street opened. Nevertheless, a strong US

The US Dollar strengthens across the FX space, a tailwind for the USD/CHF. USD/CHF Price Analysis: Shifted to neutral biased once buyers hurdle the 20-DMA. The USD/CHF is surging sharply during  Friday’s North American session, as Wall Street is set to finish the last trading day of the week with losses. Therefore, the USD/CHF is

Strategists at Rabobank point out that the change in the Bank of England’s language favours the doves, they see scope for further rate rises. They continue to expect poor United Kingdom fundamentals to be a drag on the British Pound.   Key quotes: “The USD has found further traction on the back of the January

The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the breadth of services expansion has still slowed. Key quotes: “The slowdown in

The US Nonfarm Payrolls headline number is expected at 185K in January, below the previous 223K. Average Hourly Earnings data declined to 4.6% in December and could trigger the next US Dollar move. United States Unemployment Rate could rise a bit, to 3.6%, up from record-low numbers. The US Bureau of Labor Statistics (BLS) will

USD/CHF is facing barricades in stretching its recovery move above the 0.9140-0.9160 supply zone. A hawkish commentary from SNB Chairman failed to strengthen the Swiss Franc bulls. The RSI (14) is struggling to scale into the bullish range of 60.00-80.00. The USD/CHF pair has rebounded after a corrective move to near 0.9115 in the early

EUR/JPY remains within the consolidation theme around 141.00. The 200-day SMA emerges as the next level of contention so far. EUR/JPY keeps the side-lined trading unchanged around the 141.00 region so far on Thursday. Extra consolidation should not be ruled out in the very near term. In case the downside accelerates, the next support of

GBP/USD Price Analysis: Bulls eye a run to test the 1.24s resistance GBP/USD rallied overnight on US Dollar weakness following the Federal Reserve event. The pair burst through 1.2350 resistance. GBP/USD now depends on the Bank of England and US jobs data on Friday. The following illustrates the technical structure of the price on the

The Dollar peaked in late September, shortly after long-term US real rates peaked. In the view of economists at Société Générale, the next leg of Dollar weakness might be slower and not in a straight line. A pause, perhaps? But not the end of the Dollar bear market  “The reluctance of the US market to

US Dollar steadies after snapping three-day winning streak. Market’s anxiety probes DXY bears as US stock futures fail to trace Wall Street, yields stabilize. Downbeat US data, yields weighed on the USD the previous day. Fed Chairman Jerome Powell has a tough task of defending US Dollar bulls amid dovish hike expectations. US Dollar Index

EUR/USD has extended its up move after breaking above the December high of 1.0730. Economists at Société Générale note that the pair could target the 1.1040/1.1080 area. Break of 1.0940 brings 1.1040/1.1080 in play “Daily MACD has turned flattish and is at a much lower level as compared to the highs achieved in November denoting