Author: FX

Share: AUD/USD extends recovery from intraday low within bullish chart formation. China Caixin PMI, Australia TD Securities Inflation came in firmer for May. Sustained trading beyond key moving averages, upbeat RSI hints at confirmation of bullish pattern. Bull flag signals theoretical target of 0.6750, sellers need validation from 200-SMA. AUD/USD picks up bids to pare intraday losses around 0.6700 as it struggles to cheer upbeat catalysts at home amid early Monday in Europe. In doing so, the Aussie pair portrays the traders’ anxiety ahead of the key Reserve Bank of Australia (RBA) data. That said, strong US Nonfarm…

US Dollar, DXY Index, USD, OPEC+, WTI, Brent, Crude Oil, Debt Ceiling – Talking PointsThe US Dollar held onto Friday’s gains to start the week on lofty Treasury yieldsOPEC+ cut production with Saudi Arabia playing a key role to hoist oil pricesWith the debt dilemma out of the way, perceptions of Fed rates could be the USD driver Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The US Dollar added modest gains to Friday’s rally on Monday as markets digest the OPEC+ production cut agenda that…

With the BOC decision and Canadian jobs data coming up, I’m looking at this textbook setup on a Loonie pair this week. While the Canadian dollar is enjoying some bullish action thanks to rising oil prices after the OPEC decision, buyers might retreat as the top-tier events draw near. After all, the BOC is widely expected to sit on its hands again while the employment report could print a slower increase in hiring for May. Do you think USD/CAD is due for a bounce off this support area soon? USD/CAD 4-hour Forex Chart by TV As you can see from…

It’s gonna be another busy week in the markets, but this time the spotlight might be on the commodity currencies. We’ve got the RBA and BOC decisions lined up, followed by China’s inflation figures later on. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the economic calendar this week: RBA interest rate statement First up, we’ve got Australia’s central bank gearing up to announce their monetary policy decision on June 6, 4:30 am GMT. RBA policymakers are widely…

2/2 © Reuters. FILE PHOTO: Delfina Gomez of the National Regeneration Movement (MORENA), candidate for the governor of the State of Mexico, smiles next to Andres Manuel Lopez Obrador, leader of MORENA during a news conference in Mexico City, Mexico June 6, 2017. REUTERS 2/2 By Dave Graham and Alberto Fajardo MEXICO CITY (Reuters) -The party of Mexican President Andres Manuel Lopez Obrador was tipped to seize the last major bastion of the country’s old rulers after a state election on Sunday as the president seeks to pave the way for a successor next year. With polling stations closing in…

China Caixin / S&P Global PMIs for May:Services a solid beat at 57.1, fifth consecutive month of expansionComposite 55.6In brief from the report:Both services supply and demand expanded furthergauges for business activity and total new orders both stood above 50 for the fifth consecutive month and logged their second-highest readings since November 2020External demand also maintained strong momentum, with the measure for new export orders staying in expansionary territory for five months in a rowEmployment in the services sector saw a marginal expansionIn May, the gauge for input costs remained in expansionary territory for the 35th consecutive month due to…

Share: AUD/USD holds lower grounds around intraday low while snapping two-day uptrend. RSI (14) line’s retreat from overbought territory joins U-turn from 200-EMA to lure Aussie sellers. Convergence of 50-EMA, one-week-old horizontal support zone challenges intraday sellers. AUD/USD licks its wounds around the intraday low of 0.6595 while printing the first daily loss in three amid Monday’s mid-Asian session. In doing so, the Aussie pair keeps the previous day’s retreat from the 200-bar Exponential Moving Average (EMA). Adding strength to the downside bias is the RSI (14) line’s U-turn from the overbought territory, as well as the receding…

Mario Tama/Getty Images News Mediterranean-themed restaurant chain Cava Group (CAVA) is set to launch a roadshow for its initial public offering as early as Tuesday. Cava (CAVA) plans to sell shares for $17 to $19, which at the high end would value the fast casual eatery at $2.2 billion, according to a WSJ report that cited people familiar with the matter. If the roadshow is successful, CAVA is expected to start trading on the NYSE the following week. Cava (CAVA) filed for an IPO last month. Based in Washington, DC, CAVA had 263 restaurants in 22 states and DC as…

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© Reuters. FILE PHOTO: An aerial view of Washington D.C., January 28, 2005, features the major landmarks of the U.S. capital. At bottom center is the Pentagon in Arlington, Virginia, cutting through the middle is the Potomac River, at center is the Washington Monume By Phil Stewart and Ted Hesson WASHINGTON (Reuters) – U.S. authorities scrambled jet fighters to pursue a light aircraft that violated airspace in the Washington D.C. area and later crashed into mountainous terrain in southwest Virginia, U.S. officials said. The jet fighters caused a sonic boom over the U.S. capital as they raced to catch up…