Author: FX
Eyes are on the yen on a big move lower in USD/JPY ahead of the weekend. The pair is down 202 pips on the day now to 156.40, which is a sharp reversal after rising to 159.22 when the Bank of Japan left rates on hold.USDJPY 10 minutesThere is some chatter that’s unconfirmed that Japan’s Ministry of Finance (which controls FX intervention) ran a rate check. That’s where they call around to banks and ask for current yen prices. That kind of move is a bit of theater but it’s a signal to everyone that they’re closely watching the market,…
The US dollar is coming under some broad pressure ahead of the weekend, particularly in USD/JPY.There could be fears of intervention in the thin liquidity at the open on Sunday or it could reflect the record highs in precious metals and increasing talk of de-dollarization. Another curious move today is the rally in oil markets, which might suggest that something is afoot via the US military over the weekend. Given the drama since the start of the year, I wouldn’t rule that out.In any case, these moves are notable and USD/JPY is having a look at the post-BOJ lows.USDJPY 10…
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Gold (XAU/USD) regains ground on Friday, notching yet another record high after coming under brief pressure earlier in the day. At the time of writing, XAU/USD is trading around $4,980, rebounding from an intraday low near $4,899, and remains on track for a third consecutive weekly gain.Meanwhile, a mixed batch of US economic data failed to offer meaningful support to the US Dollar (USD), allowing Gold to extend its advance.Bullion is up more than 8% this week, supported by strong safe-haven demand after renewed trade rhetoric from US President Donald Trump over the Greenland dispute unsettled global markets, reviving “Sell…
The Euro (EUR) trades flat against the US Dollar (USD) on Friday, as traders show a muted reaction to the latest US economic data. At the time of writing, EUR/USD is hovering near 1.1750 and remains on track for its first weekly gain in three weeks amid sustained weakness in the Greenback.Preliminary S&P Global Purchasing Managers Index (PMI) data showed the flash Composite PMI edging up to 52.8 in January from 52.7, while the Manufacturing PMI rose to 51.9 from 51.8, missing expectations of 52.1, and the Services PMI came in at 52.5, unchanged from December and below the 52.8…
US railway CSX isn’t seeing a macro rescue in 2026. Management is planning for flat industrial production, modest GDP growth and sticky inflation within the firm above 3%, with customers cautious under tariff pressure. Housing and autos remain headwinds, trucking is soft, and there’s no near-term catalyst—leaving infrastructure spending and power demand as the lone offsets nationally.The shares are up 4.5% today on a mix of solid execution and M&A chatter but have been flat since 2021.Here are some revealing comments on the macro outlook from the conference call.Stephen Angel – CEO“This has been a challenging year for CSX and…
Silver (XAG/USD) prices reached the $100.00 milestone on Friday, recording an all-time high of $100.39 before retreating towards the triple-digit figure. The grey metal is posting daily gains of over 4% after bouncing off daily lows of $96.04.Even though geopolitical risk diminished following the de-escalation of the US-European Union trade war, the US Dollar (USD) faces headwinds, continuing to extend its losses during the year.According to TASS, Russia, Ukraine and the US talks had started in Abu Dhabi, aimed to finally reach an agreement to end the war.XAG/USD Price Forecast: Technical outlookSilver’s parabolic uptrend continues, as depicted by price action.…
GBP/USD jumps above 1.3540 as UK Retail Sales, PMIs surprise higherGBP/USD surges during the North American session over 0.31% on stronger than expected Retail Sales and PMI data, even though the Greenback trimmed losses on an upbeat Consumer Sentiment report. The pair trades at 1.3542 after bouncing off daily lows of 1.3482. Read More…Pound Sterling outperforms on strong UK Retail Sales, PMI dataThe Pound Sterling (GBP) rises strongly against its major currency peers, jumps to near 1.3536 against the US Dollar (USD) as the flash United Kingdom (UK) S&P Global Purchasing Managers’ Index (PMI) data for January has come in…
GBP/USD surges during the North American session on Friday by over 0.31% on stronger-than-expected Retail Sales and PMI data, even though the US Dollar (USD) trimmed losses on an upbeat Consumer Sentiment report. At the time of writing, the pair trades at 1.3542 after bouncing off daily lows of 1.3482.Sterling rallies on strong UK data, trimming Bank of England easing expectationsIn the UK, Retail Sales data sponsored a leg-up in the GBP/USD pair, which cleared the 1.3500 figure, but it remains shy of the latest cycle high, which could pave the way towards 1.3600. In December, Retail Sales rose 0.4%…
Silver has a long history of making incredible moves and this one is certainly on that list. It’s been a one-way parabolic move since $50 in late-November.Before then it was a steady climb higher and was just at $23 of the time of Trump’s second election. The combination of industrial demand, low mining supply and monetary demand has been sensational. The latest leg is all retail piling in as it becomes something of a meme.silver dailyNaturally, I would expect some profit taking here but it’s hard to turn against precious metals until gold also hits $5000. The high was $4967…