FX

USD/CHF is auctioning in a 0.9687-0.9712 range as investors await US PMI. The SNB elevates its interest rates by 50 bps for the first time in the last 15 years. Both Manufacturing and Services PMI are expected to fall on renewed recession fears in the US. The USD/CHF pair is displaying back and forth moves

The Swiss franc is on the driver’s seat, as shown by the USD/CHF dropping 1.82%. Sentiment in the FX space fluctuated, with safe-haven peers gaining, except for the JPY. USD/CHF Price Forecast: Subject for a mean reversion move towards 0.9850. The USD/CHF recovered some ground after falling to fresh weekly lows around 0.9620, bounced off,

US stocks recovered some ground after a bumpy trading week. The Nasdaq Composite rose and led the pack, followed by the S&P 500, while the Dow Jones fell. The US Dollar Index rose, contrarily to US Treasury yields dropping US equities recovered some ground after a rough trading week and recorded gains between 0.13% and

The Australian dollar prepares to finish the week with losses of almost 1.60%. Fluctuating sentiment in the FX space boosts the USD and weighs on the AUD. St. Louis Fed President Bullard: Achieving a soft landing is feasible. AUD/USD plummets from weekly highs reached on Thursday around 0.7069, down below the 0.7000 mark, after Wednesday’s

The gold spot is falling due to broad US dollar strength and steady US real yields. US Industrial Production expànded at a lower rate than in April, showing that the US economy is slowing. Gold Price Forecast (XAUUSD): To consolidate amid the lack of a catalyst. Gold spot (XAUUSD) drops courtesy of a buoyant greenback,

Cruise lines and travel stocks fall sharply on recession fears.  Atalanta Fed’s GDPNow shows the US already in a technical recession. Inflation hitting discretionary and leisure spending. Splurge stocks, as we like to call them, took a sharp leg lower this week as the Fed finally decided it better run after the mess created by

“The World Trade Organization (WTO) Chief presented countries with a series of draft trade agreements early on Friday that included pledges on health, food security and urged that they be accepted as a major meeting stretched into its second day of overtime,” said Reuters during early Friday’s Asian session. The news also adds that the

MULN stock closed over 8% higher on Wednesday. MULN stock is still down 10% for the week and down 78% for 2022. Mullen Automotive is a retail-only name, highly volatile and highly speculative. Mullen Automotive (MULN) is a name we have covered numerous times in 2022 as the stock exhibited some classic volatility associated with retail

Silver struggles to extend Fed-inspired rally as bulls jostle with a short-term key resistance confluence. 10-DMA, weekly descending trend line restricts immediate upside. Sluggish MACD, RSI challenges further upside, bears need validation from monthly horizontal support. Silver (XAG/USD) prices remain sidelined at around $21.70, following the biggest daily jump in over three months, as bulls

NASDAQ:SNDL fell by 2.03% during Tuesday’s trading session. TIlray and Hexo renegotiate their deal for Tilray’s stake in the company. Canopy Growth and Aurora Cannabis both bounce off their 52-week low prices. NASDAQ:SNDL extended its current losing streak to five straight days as the Canadian cannabis stock continues to fall towards zero. On Tuesday, shares

NZD/USD struggles to extend the bounce off 25-month low after NZ data. New Zealand’s Q1 Current Account – GDP Ratio widened, Current Account deficit increased. Risk-off mood exerts additional downside pressure on the Antipodeans. China’s Industrial Production, Retail Sales may entertain traders ahead of FOMC. NZD/USD fades bounce off a two-year low as it flirts

EUR/USD has recovered to the 1.0450 area on Tuesday after briefly dipping under 1.0400 and eyeing annual lows on Monday.   Hawkish ECB speak might be helping for now, but most traders will refrain from placing big bets pre-Fed.   The potential for further risk-off flows means the pair remains at risk of hitting fresh

Silver prices remain pressured at one-month low after the biggest daily fall since early May. Impending bear cross on MACD, clear downside break of horizontal support from late 2021 favor sellers. 10-DMA, five-week-old descending trend line adds to the upside filters. Silver (XAG/USD) fails to overcome the bearish bias, even as the sellers take a

EUR/USD has slid into the mid-1.0400s as the buck benefits from safe-haven demand and hawkish Fed bets.   Some are eyeing a test of annual lows in the mid-1.0300 against an increasingly bearish backdrop.   The main event of the week will be Wednesday’s Fed meeting, plus US Retail Sales and PPI data.   Though

The DXY has registered a fresh three-week high at 104.36 on soaring inflationary pressures. Higher US CPI has unfolded the chances of a rate hike by 75 bps by the Fed. Weak Michigan CSI displays that inflation has dented the confidence of consumers. The US dollar index (DXY) is advancing sharply higher as soaring price

Financial Japanese authorities met regarding a weaker JPY and accorded to act if the yen continues weakening. Despite falling on threats of an FX intervention by Japan, the GBP/JPY gained 1.30% weekly. GBP/JPY Price Analysis: To continue falling towards 164.25 before resuming to the upside. The GBP/JPY plunged on Friday and trimmed weekly gains of

On Friday, the USD/JPY climbs 0.11%, and in the week, 2.80%. Risk-aversion initially weighed on the USD, but late in the North American session, higher US Treasury yields lifted the USD/JPY. USD/JPY Price Analysis: The USD/JPY might retrace as intervention looms, towards 131.00s. The USD/JPY is registering gains close to 2.80% during the week, and

Next week, the Bank of England will have its monetary policy meeting. Analysts at MUFG Bank consider it poses some upside risk for the pound but they warn any rally should be short-lived in light of the still unfavourable UK cyclical backdrop.  Key Quotes: “The GBP has been consolidating at weaker levels after correcting lower