FX

Sustained USD selling exerted pressure on USD/CAD for the second straight session on Thursday. A softer tone around crude oil prices did little to undermine the loonie or lend any support to the pair. The USD/CAD pair continued losing ground through the mid-European session and dropped to fresh multi-year lows, around the 1.2235-30 region in

AUD/JPY is accumulating gains in the Asian session. However, gains seem limited in the vicinity of 84.70. Neutral momentum oscillators ask for a wait-and-watch approach. The AUD/JPY cross maintains the previous day’s gains and looks to refresh the daily high near 84.70 in the Asian session.  At the time of writing, AUD/JPY is trading at

The Kellogg Company is entering into a strong time of year. Over the last 14 years, the company has risen a total of 11 times. The largest gain was in 2014 with 3.83%. The largest loss was -1.30% in 2008. The average gain was +0.99% over the 14 years. Is the Kellogg company dues for

GBP/USD holds onto latest recovery as bulls attack 50-SMA, upper line of the one-week-old symmetrical triangle. Momentum indicator suggests no movement but sustained trading beyond 200-SMA, the key Fibonacci retracement levels favor bulls. GBP/USD picks up bids around 1.3895, up 0.05% on a day, during Wednesday’s Asian session. In doing so, the cable keeps recent

Canada posted a surprise trade deficit in March. USD/CAD pair posts strong daily gains above 1.2300 after the data. Canada registered a merchandise trade deficit of C$1.1 billion with the world in March, the monthly data published by Statistics Canada revealed on Tuesday. This reading worse than analysts’ estimate for a surplus of C$0.7 billion. “In March,

USD/CHF advances from earlier lows around 0.9100. Risk-averse investors shy away from the safe-haven Swiss franc. Swiss Consumer Confidence data eyed for fresh traction.  The Swiss franc depreciates further against its counterpart USD and lifts the USD/CHF pair to fresh multi-day highs near 0.9120 in the Asain session. The prices quickly recovered from the lows

Commodity supercycle gathers momentum – What’s next for prices [Video] Commodity prices are booming across the board with everything from metals, energy to agriculture markets, trading near multi-year highs. Last week, Palladium, Iron Ore, and Lumber prices took center-stage skyrocketing to all-time record highs. Meanwhile, Copper and Aluminium prices hit 10-year highs. Both metals have

Silver takes offers to refresh intraday low, prints four-day downtrend. Sustained break of monthly support line, downbeat RSI favor sellers. Three-week-old horizontal support, 200-SMA test the bears, falling trend line from April 21 adds to the upside filters. Silver extends the last week’s downside break of the monthly support line, now resistance, while taking offers

Equities give up some ground on Friday but remain poised for fresh records. Earnings season continues to see record growth in earnings Fed remains committed to full employment and a fully accommodative stance. Another week another set of fresh records for equity markets. There really is no alternative (TINA) continues to dominate the narrative. The

Exxon Mobil reported Q1 results on Thursday before the market opened. Earnings per share (EPS) was $0.65, ahead of estimates for $0.59. Revenue was $59.15 billion also beating estimates for $54.6 billion. Chevron (CVX) also reported earnings on Thursday. EPS was $0.90 bang in line with expectations, revenue was $31 billion, ahead of the $30.37

Goldman Sachs cites risks, both upside and downside, to China’s economic recovery amid chatters of strong rebound after the coronavirus (COVID-19) pandemic, as well as ahead of April’s official PMI. The bank expects 8.5% read GDP for 2021 while citing Beijing’s strong run-up after the covid-led economic shock. The piece cites “potential for stronger-than-expected exports”

NASDAQ:OCGN fell by 3.86% on Wednesday as its rocky week of trading continued. Ocugen obtained rights to sell a COVID-19 vaccine candidate in the United States. Covaxin is already available in India, where the COVID-19 vaccine has taken a turn for the worse. NASDAQ:OCGN has had an incredible run since December of 2020 when it

Gold stays on the front foot, keeps Fed-led gains near the weekly top. Fed reiterated cautious optimism, Powell rejects tapering talks. Mixed updates over covid, vaccine and stimulus trouble bulls. Biden’s first speech to join Congress, US Q1 GDP will be the key. Gold buyers extend post-Fed gains to $1,783, up 0.10% intraday, during the

USD/JPY is rising for the third straight day on Wednesday. 10-year US Treasury bond yield is up nearly 5% since the beginning of the week. Focus shifts to low-tier US data and FOMC’s policy announcements. The USD/JPY pair closed the first two days of the week in the positive territory and preserved its bullish momentum

NZD/USD bounces off intraday low but remains depressed for the second consecutive day. Cautious sentiment ahead of the key event, light calendar at home restrict moves. Australia Q1 CPI, FOMC language will be the key. NZD/USD portrays a corrective pullback while bouncing the intraday low to 0.7206 amid Wednesday’s Asian session. Even so, the kiwi

NASDAQ:COIN surges by 4.44% on Monday amidst another green day for the broader markets. Coinbase retraces as Bitcoin and other cryptos start another bullish run.  Coinbase announces its first earnings call as a publicly traded company on May 13th. NASDAQ:COIN has had an eventful first couple of weeks on Wall Street to say the least,

Gold steps back from weekly top after snapping the two-day rally. Challenges to US President Biden’s infrastructure spending, covid updates test the bulls. S&P 500 Futures waver around 4,180, US Treasury bond yields dwindle. Pre-Fed mood battles mixed US data, downbeat DXY amid a light calendar. Gold struggles to extend the first daily gains in

DXY stays offered and breaks below the 91.00 support. The persistent bearish stance sustains a deeper pullback. DXY adds to Friday’s losses and clinches new monthly lows in the 90.70/65 band at the beginning of the week. The negative sentiment around the dollar should leave the door open to a potential deeper pullback to the