It’s been quite a while since geopolitics, or in this case an outright war, in the Middle East stole the spotlight in markets. But that is the case today as the world is honed in on the Hamas attacks on Israel on Saturday. That is seeing markets adopt a more risk-off approach today with the
Share: GBP/USD remains under selling pressure amid the Fed’s hawkish stance. The pair holds below the 50- and 100-hour EMAs on a four-hour chart. The oversold RSI condition indicates that further consolidation cannot be ruled out. The immediate resistance level will emerge at 1.2290; 1.2200 will be the critical support level. The GBP/USD
Share: US Dollar Index remains dicey after a downbeat start to the week that snapped two-day winning streak. Mixed US data, unimpressive Fed talks confirms September inaction, odds of witnessing one rate hike in 2023 defend DXY bulls. US Labor Day holiday, China-inspired risk-on mood allowed Greenback buyers to take a breather. US
Share: AUD/USD struggles to defend the bounce off YTD low despite probing five-day losing streak ahead of multiple data/events. Fears surrounding China, firmer US Treasury bond yields weigh on Aussie pair. RBA Minutes need to defend hawkish interest to recall AUD/USD buyers. China Industrial Production, Retail Sales will be eyed closely amid economic
Despite the best efforts by Beijing to try and defend the yuan, it is on the verge of its lowest levels since November last year against the dollar. And that is indirectly dragging the aussie and kiwi lower today, alongside the more dour mood in equities. Asian stocks are selling off hard today, largely in
Share: NZD/USD bounces off the two-month lows and holds ground near 0.6060 on Wednesday. The downbeat Chinese trade data exerts some pressure on the Kiwi. The US trade deficit narrowed sharply in June; Imports fell to the lowest level since November 2021. Investors await Chinese inflation data, New Zealand inflation expectations report. The
Share: GBP/USD edges lower for the second straight day on Tuesday, albeit lacks follow-through. The USD climbs to a fresh multi-week top and turns out to be a key factor exerting pressure. The downside seems limited ahead of the BoE on Thursday and the US NFP report on Friday. The GBP/USD pair remains
