Author: FX

Mexican Peso slips as investors worry about the potential approval of controversial judiciary reforms, which could increase political risks. Morena’s supermajority in Congress heightens fears of constitutional changes, leading to greater concentration of power and higher risk premiums. Dovish comments from Banxico Deputy Governor Galia Borja add pressure. The Mexican Peso begins the week on the back foot, reversing most of last Friday’s gains. Losses of over 1.80% are seen in the Peso amid fears that the Mexican Congress could approve the Judiciary Reform bill and dovish comments from Deputy Governor Galia Borja. At the time of writing, the USD/MXN…

By Ahmed Elimam, Nur-Azna Sanusi and Adam Makary (Reuters) -The Greek-flagged tanker Sounion has been on fire in the Red Sea since Aug. 23 after an attack by Yemen’s Houthis with no obvious signs of an oil spill, EU Red Sea naval mission Aspides said in a post on X on Monday. The EU mission published photos dated Sunday showing fire and smoke coming out of the vessel’s main deck. Reuters has verified the authenticity of a Houthi video of a fiery assault on the ship. The Sounion is carrying 150,000 tonnes of crude oil and poses an environmental hazard,…

Canada’s governing Liberal party is being destroyed in the polls and will almost surely lose in an election that must be called between now and October 20, 2025 at the latest.The election will almost-certainly be fought over immigration levels and the housing and infrastructure crunch that came with it. Here’s a chart to highlight how the doors were thrown open:Two big avenues were drivers:Temporary foreign workersCollege ‘students’ who used a backdoor via mostly fake collegesThe government has seen the writing on the wall and Prime Minister Justin Trudeau is facing a revolt within his party. He’s holding a cabinet retreat…

BoE Governor Bailey’s comments at Jackson Hole Friday reflected a cautious near-term policy outlook, Scotiabank’s Chief FX Strategist Shaun Osborne notes. BoE Gov Bailey maintains cautious policy outlook “Bailey said it was too early to declare victory over inflation with price growth not sustainably back to target. The remarks support market pricing that suggests policymakers are likely to await more data before easing rates again late this year (November). GBP has drifted marginally lower in quiet trade, with UK markets closed for the bank holiday.” “Cable losses are marginal from Friday’s 1.3230 high (highest since early 2022). Spot is consolidating…

Monty Rakusen FTAI Aviation (NASDAQ:FTAI) on Monday was maintained at a Buy rating at financial services firm BTIG as research coverage switches from one analyst to another. “FTAI’s (FTAI) extensive maintenance, repair and operations (MRO) network and engine fleet put the company in a prime position to benefit from an increasingly aging global fleet,” Andre Madrid, analyst at BTIG, said in an August 26 report. “We expect FTAI Aviation (FTAI) to continue benefiting from robust leasing demand and CFM56 and V2500 MRO volumes as OEM production woes persist.” BTIG raised its price target on FTAI to $140 a share from…

Fundamental OverviewLast Friday, Fed Chair Powell delivered a more dovish than expected speech at the Jackson Hole Symposium as he basically kept the door open for a 50 bps cut at the September meeting. The line saying that they will do everything they can to support a strong labour market was key. That is a positive driver for the precious metal as in the big picture, gold should remain supported as real yields fall as we head into the Fed’s easing cycle, but in the short-term strong US data might provide pullbacks along the way. Gold Technical Analysis – Daily…

Gold price edges lower in Monday’s early European session.  Fed’s rate cut expectation and ongoing geopolitical tensions continue to underpin Gold price.  The US July Durable Goods Orders are due later on Monday.  The Gold price (XAU/USD) trades with mild losses near the $2,500 psychological support on Monday. However, the downside of the precious metal might be limited amid rising expectations that the US Federal Reserve (Fed) will begin lowering borrowing costs in September. Lower interest rates are generally positive for Gold as it reduces the opportunity cost of holding the non-interest paying asset.  Furthermore, the escalating geopolitical tensions in…

U.S. crude oil prices continue to recover after revisiting its August lows last week. How high can WTI crude fly before sellers gather enough bearish momentum? We’re taking a closer look at a possible resistance area: WTI Crude Oil (USOIL) 4-hour Chart by TradingView In case you missed it, a lack of progress on Gaza ceasefire talks helped pull U.S. (WTI) crude oil up from its August lows near $71.75. It may have also helped the commodity that U.S. data releases and FOMC member speeches are pointing to a rate cut as early as September. WTI not only bounced from…

This forex pair recently busted out of its daily triangle consolidation pattern, hinting at the start of a long-term trend. Is the rally fading or is this merely a retest? Take a look at these inflection points on the long-term chart! EUR/NZD Daily Forex Chart by TradingView After consolidating inside a descending triangle formation for almost a year already, EUR/NZD busted through the resistance last month to hint that a longer-term uptrend may be in the cards. However, the pair hit another major roadblock around the 1.8640 mark, forcing euro bulls to retreat from their charge. Is this merely a…

The market spotlight is on inflation updates from major economies this week, with the U.S. core PCE price index potentially being the star of the show. What are number crunchers expecting for the July CPI readings? This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link