Joshua

Gold rises modestly on Friday after finding support at $1753. Major resistance looms at $1770. Mixed dollar and Wall Street futures rise. The Prayed It rises modestly after two days of declines, in a day of sideways runs between currencies and rises in equity markets. XAUUSD recently hit a daily high of $1,767, then returned […]

Silver is making a good rebound from the one-week low hit on Thursday. The previous day’s drop and close below the 200-day SMA favor the bears. Any further move higher could face stiff resistance near the $21.70 area. Silver (XAGUSD) regains some positive traction on Friday and recoups some of the previous day’s heavy losses […]

USDCAD is trading in a tight range on the last day of the week. Bearish crude oil prices weigh on the CAD and offer support for the pair. Lower US bond yields keep USD bulls on the back foot and limit the pair’s upside. The pair USDCAD struggles to gain significant traction on Friday and […]

AUDUSD moves slightly higher on Friday amid subdued USD demand, though it lacks continuation. A softer risk tone continues to act as a tailwind for the USD and limits the pair’s gains. China’s issues with COVID-19 and geopolitical risks are also acting as a headwind for the risk-sensitive AUD. The pair AUDUSD extends the overnight […]

GBPUSD gains some positive traction on Friday amid subdued USD price action. A combination of factors limits the fall of the dollar, which limits the rise of the pair. A bleak outlook for the UK economy is helping to constrain the sterling. The pair GBPUSD is holding on to its modest intraday gains at the […]

The President of the European Central Bank (ECB), christine lagardeis speaking this Friday at the European Banking Congress in Frankfurt. Featured Comments (via Reuters) The ECB will ensure that a phase of high inflation does not fuel inflation expectations. We wait continue to raise rates to the necessary levels to ensure that inflation returns to […]

USDJPY is expected to remain within the consolidation range of 138.50-142.50 in the coming weeks, according to economist Lee Sue Ann and market strategist Quek Ser Leang of UOB Group. Featured Comments 24 hour view: “We expected USDJPY to “trade within a 138.90/140.20 range” yesterday. USDJPY subsequently fell as low as 138.86 before staging a […]

Several Fed members made hawkish comments again yesterday. However, the dollar was unable to benefit properly. In the opinion of the Commerzbank economists, doubts about the future trajectory of the central bank will affect positioning. The market does not believe the Fed’s hawkish comments “The recent Fed comments are not having much effect on the […]

Economist Lee Sue Ann and market strategist Quek Ser Leang of the UOB Group suggest that the GBPUSD could face a consolidation move on the likely continuation of the uptrend. Featured Comments 24 hour view: “Yesterday, we held the view that GBPUSD “is likely to go higher, but any advance is likely to be limited […]

Chinese doctors have warned that the country will not relax lockdown measures, in a Financial Times article: “Chinese doctors warn that “we are not ready” as the threat of the “exit wave” of covid slows reopening ambitions”. The article begins like this: Chinese doctors have a strong message for Xi Jinping: the country’s healthcare system […]