Forex News

Ho Woei Chen, CFA, Economist at UOB Group, assessed the latest inflation figures in the Chinese economy. Key Quotes “China’s Consumer Price Index (CPI) rose 2.5% y/y in June (Bloomberg est: 2.5%; May: 2.4%). This was led by higher food price inflation while core inflation (excluding food and energy) slipped to 0.9% from 1.1% in…

EUR/USD is gaining 0.13% on the day to trade at 1.1315 as the pair heads towards the July high at 1.1371. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, expects the upside pressure to be kept while the EUR/USD pair trades above 1.1255. Key quotes “EUR/USD is heading back up towards its current July high…

USD/CHF gains some positive traction and turns positive for the third straight session. The upbeat market mood undermined the safe-haven CHF and extended some support. A modest USD rebound from lows further contributed to the pair’s intraday move up. The USD/CHF pair rallied around 30 pips from daily swing lows and refreshed daily tops, around…

S&P 500 futures look to regain 3200 levels. Bull pennant on hourly sticks to get confirmed above 3198.50. Gains in US stock futures point to positive Wall Street open. S&P 500 futures, the lead risk indicator, is off the highs but trades with moderate gains in mid-Europe, as the market mood remains upbeat amid the coronavirus…

Economist at UOB Group Barnabas Gan gives his views on the upcoming GDP figures in Singapore for the April-June period. Key Quotes “Singapore’s 2Q20 GDP growth is scheduled to be released on 14th July 2020. Accounting for the incoming high-frequency data to-date, we forecast Singapore to clock -10.5% y/y (-34.6% q/q saar) in 2Q20. This…

GBP/USD once again failed near the 1.2665-70 supply zone, ahead of the 200-day SMA, and is seen trading now below the 1.26 level, down -0.2% on a day. FXStreet’s Haresh Menghani outlines the cable could extend its decline if breaks below the 1.2565 mark. Key quotes “Bulls are likely to wait for a sustained move…

USD/BRL is trading at 5.32 but the pair is forecast to move higher towards the key psychological barrier at 6.0000 which is expected to cap, according to analysts at Credit Suisse. Key quotes “USD/BRL maintains its large multi-year bullish ‘triangle’ continuation pattern from Q1, with the ‘measured pattern objective’ met during Q2 at the 5.9726…

Brent Crude Oil maintains its base above $37.28 but trades down -1.37% on day to $42.77. Economists at Credit Suisse expect the black gold to extend the current consolidation phase before stretching higher.  Key quotes “Brent Crude extends its near-term consolidation but maintains its base above the 38.2% retracement of the Q1 collapse at $37.28….

Gold has held onto solid gains above $1800 despite the broad-based US dollar rebound, as investors remain unnerved amid looming coronavirus risks and ahead of the critical US data due later this week. Will the bulls retest the eight-year highs at $1818.17?   The Technical Confluences Indicator shows that the buyers continue to face stiff…

USD/CNY is currently sidelined near 7.00 but analysts at Credit Suisse expect the pair to fall towards the July 2019 low around 6.85 during the third quarter.  Key quotes “USD/CNY is moving lower in the early part of Q3, breaking below the 200-day average and the 2018 uptrend to complete an in-range top after earlier…