FX

Analysts at MUFG Bank see the USD/ZAR moving to the downside over the next days. They point out the South African Rand has failed to strengthen alongside other Emerging Market currencies on the back of building optimism over a dovish Federal Reserve policy pivot and China’s economy reopening more fully this year. Key quotes: “The

Gold price extends the previous day’s losses on breaking $1,937-38 key support. US Dollar’s rebound ahead of Fed’s preferred inflation gauge also weighs XAU/USD. Hopes of US debt ceiling extension, fading recession woes underpin USD strength. Firmer US Core PCE Price Index becomes necessary for the Fed to defend hawkish policy moves and the Gold

TSLA stock soars more than 10% after earnings. Tesla beat EPS consensus on Q4 earnings late Wednesday. Tesla stock now takes aim at $167.50. US GDP grew at 2.9% annualized rate in Q4. Tesla (TSLA) stock is the leading stock on the NASDAQ on Thursday as Wednesday’s post-market earnings release and a better than expected GDP

USD/INR pares recent losses amid holiday in India, cautious mood ahead of key US data. Mixed sentiment restricts market moves as traders await US Q4 GDP, PCE Price data. Odds favoring higher foreign fund inflow and softer Oil price favor INR buyers. Concerns surrounding Fed’s pivot keep US Dollar on a dicey floor. USD/INR retreats

USD/JPY remained pressured as the 50-DMA crossed beneath the 200-DMA. Bears stepped in and reclaimed 130.00, as they eye 129.00. USD/JPY fell as the North American session progressed and tumbled below the 130.00 figure, as buyers failed to crack the 20-day Exponential Moving Average (EMA) at 130.74. Factors like a soft US Dollar (USD) and

USD/INR retreats from weekly high, prints mild losses of late. Greenback remains depressed as US activities shrank for the seventh consecutive month. Cautious mood ahead of key data/events join sluggish yields, Oil price rebound to probe Indian Rupee buyers. USD/INR bulls take a breather after a two-day uptrend amid Wednesday’s sluggish markets, refreshing intraday low

AUD/USD broke decisively above 0.7000 yesterday. Australian Consumer Price Index data for the fourth quarter could fuel the rally if figures come out sticky, economists at ING. AUD/NZD may retest the recent 1.0950 highs soon “Tonight’s fourth-quarter CPI data in Australia will be key, as evidence of sticky inflation may force a hawkish repricing across

EUR/USD is eyeing a re-test of 1.0900 amid the risk-on market mood. Investors’ risk-taking capacity is improving again as the Fed might trim the policy tightening pace further. The ECB looks all set to hike interest rates further by 50 bps to 3.25%. The EUR/USD pair is aiming to extend its journey toward the round-level resistance of

XAG/USD suffers the worst daily decline in months. Price hits the lowest level in five weeks, under pressure after losing key support levels. Gold remains steady, US stocks rise. Silver price is falling sharply on Monday, even as the US Dollar holds relatively steady and despite rising equity prices. XAG/USD recently hit  a fresh one-month

EUR/USD buyers are on a roll at the start of the week. Hawkish ECB commentary boosts the Euro bulls, US Dollar falls. Holiday-thinned light trading could exaggerate the moves. The Euro is keeping the upper hand against the US Dollar at the start of the week on Monday, as EUR/USD is rising above the 1.0900

GBP/USD seesaws during the North American session, around the 1.2360-1.2390 region, around the London Fix, unable to gain a clear direction. Risk appetite increased, which usually favors the Pound Sterling (GBP), but soft UK economic data weighed on the GBP/USD. At the time of writing, the GBP/USD exchanges hands at 1.2391. Read More… GBP/USD is on the back foot,

EUR/JPY bounced off the day’s lows at 139.03 and hit a daily high of 141.19 before losing steam. The EUR/JPY reclaiming and achieving a daily close above the 200-day EMA keeps bulls hopeful of higher prices. The Euro (EUR) rallies sharply on Friday, ahead of the weekend, as the Japanese Yen (JPY) weakened following the

XAG/USD stays firm and climbs as the US Dollar remains offered across the board. Silver Price Analysis: Range-bound but could turn bullish above $24.50; otherwise, it could re-test the 50-DMA. Silver price extended its gains for the second consecutive day, cleared Thursday’s daily high of $23.93, and held its ground above the 20-day Exponential Moving Average

Mullen Automotive stock is losing value on Friday. MULN stock has lost more than -16% YTD.  To continue its production ramp up goals, Mullen will probably need to keep diluting shareholders. Mullen management could boost oustanding shares from 1.7 billion to 5 billion. Mullen Automotive (MULN) has experienced an awful slide this week. Early January’s

EUR/USD grinds higher around intraday top as it braces for the second consecutive weekly gain. Although Fed officials also sync the tune with ECB hawks, hopes of shorter recession in Europe favor bulls. Downbeat US data renew economic fears surrounding the world’s largest economy and probe DXY bulls. ECB President Lagarde’s speech, Fed talks before

The recent GBP underperformance is largely due to a less hawkish BoE and sluggish domestic activity data but its underperformance is unlikely to continue in the light of a rebound in global risk sentiment and improving domestic dynamics, economists at HSBC report. GBP to benefit from the UK’s improving external balance “With inflation in the

AUD/USD extends the previous day’s pullback from five-month high, renews weekly low. Confirmation of bearish chart pattern, sustained break of 50-SMA favor sellers. 200-SMA, monthly support line probe bears even as oscillators suggest further downside. AUD/USD remains on the back foot for the second consecutive day after refreshing the multi-month high, down half a percent

Vipshop Holdings Ltd ADR (VIPS) is an e-commerce platform that specializes in flash sales of branded products in China. Its website VIP.com is one of the biggest online retailers in China. VIPS is listed on NYSE as ADR. In this 28-month chart of VIPS, the price started an impressive climatic run up in Oct 2020