FX

When asked when the economy will go back to normal during an interview with Handelsblatt, “I would argue that back to normal means back to the pre-pandemic growth path,” European Central Bank’s (ECB) Vice President Luis de Guindos said. Additional takeaways  “We will need substantial monetary support for the economy for some time to come.”

FX Strategists at UOB Group noted the upside momentum in EUR/USD is expected to meet solid resistance in the vicinity of 1.1900. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is room for the advance in EUR to extend but it is unlikely to challenge the major resistance at 1.1860’. EUR subsequently dropped briefly

Oil prices are bid ahead of the Fed on-demand expectations.  The focus is back on tight supplies rather than rising coronavirus infections. West Texas Intermediate (WTI) crude is higher on the day following data showed US crude inventories fell more sharply than analysts had forecast. At the time of writing, WTI is trading at $72.48 and up over 0.8%

Japanese Economy Minister and Minister in charge of the covid response, Yasutoshi Nishimura, said that three prefectures near Tokyo will ask for a state of emergency on Thursday. “Rise in cases due to test results delayed during last week’s holidays expects further rise this week,” Nishimura added. more to come …

USD/JPY extends its daily slide during the American session. 10-year US Treasury bond yield is down more than 4%. Wall Street’s main indexes are suffering heavy losses on Tuesday. After closing in the negative territory on Monday, the USD/JPY pair failed to stage a rebound and remains depressed in the second half of the day

Cable could now be headed towards the 1.3900 area in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected GBP to strengthen yesterday, we were of the view that ‘1.3800 is likely out of reach’. The subsequent advance exceeded our expectations as GBP soared to 1.3833. The rapid

AUD/USD remains on track to post modest gains on Monday. US Dollar Index stays in the negative territory in the American session. Focus shifts to FOMC policy meeting, high-tier US data. After spending the first half of the day in a relatively narrow band around 0.7350, the AUD/USD pair gained traction during the American session

GBP/USD Price Analysis: Looks directionless below 20-day SMA near 1.3750 GBP/USD consolidates gains for the previous two sessions on Monday morning’s Asian session. The pair moves in a narrow trading range with no clear trading direction and waits for confirmation. On the daily chart, the formation of the Doji candlestick reflects the indecisiveness among the

Since the crash of March 2020, all stocks have tried to recover what they lost and JNJ was no exception. Johnson & Johnson did not only recover the lost, but It also reached historic highs. Now, we are going to try to build a wedge from the March 2020 lows with a target above $176.

In a statement published on Friday, US Treasury Secretary Janet Yellen urged Congress to act as soon as possible on debt limit, as reported by Reuters. Additional takeaways “US will meet statutory limit on debt on August 1.” “Treasury will suspend the sale of state and local government securities at noon on July 30.” “Treasury will need

GBP/USD pares intraday losses, down little around mid-1.3700s GBP/USD attracted some dip-buying on Friday amid a subdued USD price action. The risk-on impulse in the markets acted as a headwind for the safe-haven USD. Rallying US bond yields underpinned the USD and capped the upside for the pair. The GBP/USD pair remained on the defensive

Previewing next week’s FOMC meeting, TD Securities analysts said that they expect Chairman Jerome Powell to communicate that the recovery remains broadly on track and that more progress is expected despite growing concerns from the coronavirus Delta variant. Key quotes “Powell will likely acknowledge that the Committee has begun discussions about tapering plans, but also

WTI bounces off intraday low, reverses two-week downtrend. Key SMAs guard short-term upside, if not overbought RSI and resistance line stay ready to challenge bulls. Sellers need to conquer two-week-old horizontal support for conviction. WTI licks its wounds around $71.49, down -0.10% on bouncing off daily low, ahead of Friday’s European session. The energy benchmark

Today’s European Central Bank (ECB) meeting contained very little that was new or noteworthy, argue analysts at TD Securities. They point out a stronger anchor to distant inflation forecasts makes a scant difference to a spot instrument. They see some disappointment to those looking for a stronger dovish signal that suggests some potential for a

GME ended Wednesday in the red at $185.81, down roughly 3%. GameStop has signalled something bullish by being green in a sea of red on Monday. GME and meme stocks roar on Tuesday as risk is back on. Update market close July 21: Gamestop GME was unable to extend gains despite a better market mood pushing stocks

Gold has stalled at the 20-day moving average and is likely to consolidate in the very near-term, says Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. She still expects in the long term, XAU/USD to reach the 1960 area.  Key Quotes:  “Gold has recently rallied to and failed at the 20 day ma

EUR/USD probes five-day downtrend near three-month low, off intraday bottom. Delta covid variant back easy money supporters, US policymakers “not that far apart” ahead of infrastructure spending procedural vote. DXY shrugs off Treasury yields to stay firmer around April tops. ECB may struggle to justify hawkish tilt on Thursday. EUR/USD fades bounce off intraday low,

Housing data released on Tuesday came in mixed. Housing starts rose 6.3% in June to a 1.643 million-unit pace, with both single-family and multifamily starts rising solidly, explained analysts at Wells Fargo. They point out the net result is still stronger than had been expected, however, and new home construction and apartment development both appear