Renn FX

Asian equities trade mixed with China bucking the bearish mood as PBOC holds benchmark rates unchanged Hawkish Fedspeak, central banks hint at global economic slowdown. Juneteenth holiday restricts market moves, US PMIs, Fed’s Powell eyed for clear directions. Asia-Pacific shares struggle to justify

Copper drops for the third consecutive day to revisit the lowest levels since August 2021. Fears that economic slowdown will dent metal demand joins China’s upbeat copper production to weigh on prices. Fed policymakers hint at further rate hikes, softer economic performance to keep markets dicey on

Economists at Nomura Holdings said in their latest note that they expect the US economy to witness a recession by the end of 2022, as financial conditions will tighten further on the aggressive Fed’s tightening outlook. Key quotes “With rapidly slowing growth momentum and a Fed committed to restorin

CME Group’s flash data for crude oil future markets showed traders added around 3.6K contracts to their open interest positions at the end of last week, reversing at the same time the downtrend in place since June 7. Volume followed suit and rose for the second straight day, now by around 126.7K con

After a rally towards the 7.00 level, USD/CNY has taken a breather. Economists at Deutsche Bank expect the pair to trade around the 6.75 mark in June 2023. Yield differential between China and the US could widen “The yield differential between China and the US could widen due to the weakening of the

GBP/USD has recently hit a low of 1.2050. Economists at Deutsche Bank forecast the pair at 1.20 on a one-year view. Market expectations of UK interest rate hikes could be too high “The continued rise in inflation rates in connection with already slowing economic growth is generating headwinds for th

The Turkish lira is again the worst EM FX performer to the dollar so far in 2022. Economists at TD Securities expect the USD/TRY pair to push towards 19.00 in the coming weeks. CBRT still dragging its feet on monetary tightening “The recurrent patterns of TRY conversion into FX deposits suggest that

Gold Price seems to have gone into a consolidation phase near $1,850. Economists at Deutsche Bank expect the yellow metal to maintain its safe-haven appeal and forecast XAUUSD at $2,100 in June 2023. XAUUSD seen at $2,100 on a one-year view “Rising real rates are a headwind for gold. However, we fee

UK Junior Treasury Minister Simon Clarke warned in a statement on Monday, if the government gives above-inflation pay awards, they will be in a difficult place, in terms of bringing down inflation. Key quotes "We need to be sensible around pay awards." "We cannot have inflation-busting pay increases

Considering preliminary readings from CME Group for natural gas futures markets, open interest reversed a multi-session downtrend and went up by around 1.8K contracts on Friday. On the other hand, volume remained choppy and decreased by around 59.5K contracts. Natural gas faces the next support near

In the view of economists at Deutsche Bank, USD strength could start to peter out in the coming months. They forecast EUR/USD at 1.10 by end-June 2023. Scope for eurozone policy tightening could eventually bolster EUR “While the USD should remain in demand in the short-term, it could depreciate in t

USD/CHF takes offers to refresh intraday low as sellers poke 11-week-old support line. RSI retreat, bear cross on MACD hint at further downside. Two-month-old horizontal support in focus, bulls need validation from 50-DMA. USD/CHF extends pullback from the 50-DMA to renew intraday low amid early Mon

AUD/USD diperkirakan akan menemukan tawaran beli di sekitar 0,6960 karena DXY kehilangan daya tarik pada perkiraan IMP yang lebih rendah. Pidato Fed Powell akan memberikan wawasan tentang kemungkinan tindakan kebijakan moneter bulan depan. Kebijakan PBoC yang akomodatif telah mendukung antipodean. P

USD/CAD bergerak di dalam kisaran 20 pip karena fokus beralih ke inflasi Kanada dan kesaksian Fed Powell. Inflasi tahunan Kanada terlihat lebih tinggi di 7,5% dibandingkan 6,8% yang dilaporkan sebelumnya. Harga minyak telah jatuh secara luas karena pasar telah memangkas perkiraan permintaan dengan p

Menurut pendapat Ahli Strategi FX di UOB Group Lee Sue Ann dan Quek Ser Leang, GBP/USD harus bergerak di dalam kisaran 1,2040-1,2400 dalam beberapa pekan ke depan. Kutipan utama Pandangan 24 jam: "Kami mengharapkan 'kekuatan GBP lebih lanjut' Jumat lalu. Namun, GBP turun ke level terendah di 1,2174