Author: FX
There are a couple of big expiries to take note of on the day, as highlighted in bold below.The first ones are for EUR/USD and they are layered between 1.1350 through to 1.1410, with also some other larger ones extending beyond that range. The expiries don’t tie much to any technical significance but could offer a bit of attraction in keeping price action more sticky in the session ahead.That being said, there’s the 100-hour moving average at 1.1386 currently. And that may offer some near-term limitations to the upside for the currency pair, with the expiries above acting as an…
The GBP/USD pair trades with mild gains near 1.3200 during the early European session on Friday. The British Pound (GBP) strengthens against the US Dollar (USD) as markets focus on who might become finance minister under Andy Burnham, and the latest US inflation data has softened expectations for US rate hikes. UK Finance Minister Rachel Reeves is expected to be replaced under a Burnham-led administration. Traders focus on who might become finance minister under Andy Burnham, the likely successor to Keir Starmer as Prime Minister. “The obstacles to a Burnham coronation are slowly being cleared, offering sterling support at the margin,”…
If you tried to follow tech headlines this week and came away confused, then you were paying attention. Trillion-dollar companies moved by hundreds of billions of dollars in a matter of days. But once you see the underlying pattern, the chaos resolves into one clean story: the AI trade split in half, and the two halves went in opposite directions. On one side are the companies writing massive checks. On the other are the ones cashing them. Here is how the week unfolded: The $700 Billion Ground Floor To understand the nerves behind the four-day Nasdaq selloff, you really only…
OpenAI leans toward waiting until next year for IPO, NYT reports Source link
AUD/CAD bounced off its range resistance earlier this week and is now setting its sights back on the floor. Will support still hold this time? Source link
An Iraqi exit would remove the world’s sixth-largest crude producer from the cartel’s output discipline framework and, combined with the UAE’s departure in May, would leave Saudi Arabia increasingly isolated as the group’s enforcer. Mizuho’s Robert Yawger puts a sub-$50 floor scenario on the table if producers begin racing for market share without coordination, a level not seen since the COVID collapse. Brent has already retreated from a March peak above $115 to around $75, closer to pre-war levels, and the directional pressure from further OPEC fragmentation is clearly to the downside. Saudi Arabia’s spare capacity of 2 million barrels…
The UN’s International Maritime Organization (IMO) paused the planned evacuation of more than 11,000 sailors stranded in the Strait of Hormuz after a Singapore-flagged ship passing through the waterway was attacked, BBC reported on Friday.IMO chief Arsenio Dominguez said that several boats had already been evacuated, but the agency wanted to ensure that “necessary safety guarantees” would continue to be in place.A White House official stated that it was too soon to say who struck the ship. The official, who spoke on condition of anonymity to discuss internal deliberations, said that the US was looking into which party was responsible…
NZD/JPY has flashed a bullish Stochastic crossover in oversold territory, hinting that downside momentum may be starting to ease. Will price confirm the turn with follow through, or will the bounce fail and the downtrend continue? Source link
Micron’s blowout outlook lifted chipmakers while an Apple-led megacap selloff dragged the S&P 500 lower. Crude jumped on Hormuz tension, and the dollar finished a net underperformer. Source link
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