Author: FX
The week is ended with markets focused squarely on the growing tension surrounding Iran, as negotiations entered what officials described as a critical stage. Mediators including Pakistan, Qatar, and Saudi Arabia worked urgently to secure at least a temporary framework agreement aimed at preventing renewed U.S. and Israeli military action. The diplomatic effort is centered on extending the cease-fire and buying time for broader negotiations, but major divisions remain — particularly over Iran’s uranium enrichment program and how quickly Tehran must make nuclear concessions in exchange for sanctions relief and an easing of hostilities. Reports indicated there has been only…
The AUD/USD pair edges lower during the North American session on Friday, poised to remain sideways within key technical support and resistance levels, with the 20-day Simple Moving Average (SMA) at 0.7187 and the 50-day SMA at 0.7095. At the time of writing, the pair is trading around 0.7137, down 0.17%.AUD/USD Price Forecast: Technical outlookFrom a technical perspective, AUD/USD market structure suggests further downside if the pair falls below the April 29 swing low at 0.7101, reaching a 4-week low at 0.7079 on May 19.The Relative Strength Index (RSI) turned bearish, signaling that sellers are gaining momentum, as it fell…
DBS Group Research economists Radhika Rao and Chua Han Teng highlight that ASEAN-6 economies are experiencing asymmetric inflation outcomes despite a common energy shock. Indonesia and Malaysia show relatively contained inflation, while Thailand, Vietnam and Philippines face higher readings. Rising WPI/PPI point to pipeline pressures, with policymakers expected to stay alert and some central banks, including Indonesia, Philippines and Vietnam, likely to raise rates further.Divergent inflation and tightening prospects”While ASEAN-6 economies face the same energy shock, their inflation outcomes have been asymmetrical. On the benign end of the spectrum, inflation in Indonesia and Malaysia remained contained at 2.4% yoy and…
As the week comes to a close, US stocks are giving back some of their earlier gains. The major indices remain higher on the day, with the Dow up 0.74%, the S&P up 0.46%, and the Nasdaq higher by 0.23%, but all are well off their session highs as traders react to the latest geopolitical headlines.The focus remains on Iran, where reports suggest officials are demanding an end to the conflict from all sides, the lifting of blockades, and the release of frozen funds as part of any broader agreement. At the same time, reports indicate President Trump is growing…
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann expect USD/CNH to trade quietly between 6.7920 and 6.8060 intraday after recent moves failed to generate fresh momentum. On a 1–3 week horizon, the bank holds a neutral view, seeing current price action as part of a range between 6.7820 and 6.8220. Over 1–3 months, the rebound still has scope to break above 6.9720, facing strong resistance near 6.9960.Dollar-Yuan stuck in range-trading phase”24-HOUR VIEW: USD dropped to a low of 6.7981 two days ago. Yesterday, when USD was at 6.8010, we stated that “while there has been an increase…
The USDCHF traded to the low for the week on Monday, testing both the May 15 low and the 100-day moving average, where dip buyers stepped in despite a brief break below the MA. That technical level once again proved to be a key barometer for traders.The high for the week came on Tuesday and Wednesday, with the rally extending up to test the 50% retracement level at 0.7901. Sellers leaned against that resistance area, reinforcing the importance of both the 100-day MA on the downside and the 50% midpoint on the topside as defining technical boundaries for the pair.As…
OCBC notes USDSGD is trading choppily in a subdued range, closely tracking moves in the USD, Oil and UST yields. The bank sees mild bullish momentum starting to fade and maintains a bias to sell rallies, with key support around 1.2720/60 and 1.2650/70 and resistance near 1.2840/50. The S$NEER remains comfortably above its model-implied mid.Singapore Dollar supported on rallies”USD/SGD traded choppy in subdued range, tracking the moves in USD, oil and UST yields.””Pair was last around 1.2780 levels.””Mild bullish momentum on daily chart shows early signs of it fading while RSI eased.””2-way trades still likely though bias remains to sell…
Silver (XAG/USD) remains range-bound on Friday as traders avoid aggressive positioning amid uncertainty surrounding US-Iran negotiations. At the time of writing, the white metal trades near $76.00 and is likely to close the week on a flat note.In the latest developments, Iran’s Foreign Ministry spokesperson said, “We cannot necessarily say that we have reached a point where an agreement is close,” according to Tasnim News Agency. The spokesperson also said, “Details related to the nuclear issue are not being discussed at this stage,” according to Islamic Republic News Agency (IRNA), adding, “We will not reach a conclusion if we try…
Gold price edges lower during the day as the Greenback recovers some ground amid doubts that the US and Iran could reach a deal to end the conflict, and traders are pricing in a Federal Reserve (Fed) rate hike by the end of the year. At the time of writing, XAU/USD trades at $4,518, down 0.50%.XAU/USD falls as US Dollar strength pressures Bullion demandThe Greenback is weighing on the yellow metal, underpinned by hawkish remarks of a Fed official. The US Dollar Index (DXY), which tracks the buck’s performance against a basket of six currencies, is up 0.07%, at 99.26.Oil…
Sky News Arabia is reporting:Negotiations in Tehran have reached an understanding on broad outlines regarding the nuclear issue.Delivery of Uranium would be linked to lifting the sanctions and would be gradual.Focused on an understanding regarding the Strait of Hormuz which is still in negotiations. Iran still wants American guarantees for any agreement reached. Crude oil has reached a new low at $94.73. The current price is at $95.84. That is the lowest level since May 8th. Price is down but the oil needs to flow to rebuild stockpiles and get prices lower.The Univ. of Michigan consumer sentiment sent a shot…