The Mexican peso is the biggest gainer of the currency market in May.
USD/MXN rises on Friday on risk aversion, but ends week lower.
The USD/MXN dropped to 22.00 on Friday, hitting a fresh two-month low and then rebounded. Near the end of the week, it is trading at 22.25, up for the day but about
"China broke their word to ensure the autonomy of Hong Kong," US President Donald Trump told a news conference on Friday. "China's action on Hong Kong is a plain violation of treaty obligations."
"US is terminating the relationship with the World Health Organization."
"The US will redi
Real GDP for Q1 and March surprised to the upside with contractions of 8.2% q/q (TD/market: -10%) and 7.2% m/m (TD: -7.0%, market: -8.5%), per TD Securities. There was little market impact in either rates or FX.
“The Canadian economy contracted by 8.2% annualized in Q1 (TD/market: -10%
Analysts at HSBC point out that in the current climate, gold may rally even if the US dollar goes up, and could be firm even if the equity market is strong.
“Gold may have received some support from plans for increased fiscal spending, but the underlying support is based on lingering
The Federal Reserve Bank of New York announced on Friday that it will purchase approximately $4.5 billion in Treasury securities every day next week.
With this decision, the total amount of weekly purchases will be lowered to $22.5 billion from $25 billion this week.
Analysts at MUFG Bank maintain a short GBP/JPY trade idea in anticipation that the weakness in the pound will extend further in the near-term. They see a target in the cross at 126.60 with a stop loss at 134.10.
“Over the past week the GBP has continued to underperform. It was the th
#Euro/usd (last 11132)
Short term BOD
[email protected] [email protected] tgt 11086 ( Valid till IMM open Monday )
Long 11062 [email protected] tgt 11240 ( next turn cycle around Wednesday )
#GBP/USD (12314 last)
Short term BOD
Long 12265 [email protected] tgt
GBP/USD has been pulled and pushed by Brexit, politics, and hopes for a return to normal.
Brexit, a full buildup to US Non-Farm Payrolls, and recovery hopes are all eyed.
Late May's daily chart is painting a mixed picture.
The FX Pol is pointing to short and medium-term declines.
USD/INR keeps moving down on broad-based USD weakness.
The level to beat for bears is the 75.50 support.
USD/INR daily chart
USD/INR is retreating further below the 76.00 figure as the spot is having a hard time to find a clear direction in May while the quote stays confined in the 75.00/
DXY comes under further pressure at the end of the week.
The index breaks below the 200-day SMA in the 98.50 area.
PCE results, flash Trade Balance figures next of relevance.
The greenback faces extra selling pressure at the end of the week and is forcing the US Dollar Index (DXY) to recede to f
EUR/USD has hit 1.11 – the highest since March – amid hopes for EU stimulus, dollar weakness but the sharp run may be followed by a temporary rethink and a drop. Yohay Elam, an analyst at FXStreet, explains the reasons which support this view.
Don't miss: Eurozone Inflation Preview
AUD/USD regains some positive traction on Friday amid the prevalent USD selling bias.
The uptick seemed rather unaffected by concerns about escalating US-China tensions.
Trump’s reaction to China’ s security law for Hong Kong should provide a fresh impetus.
The AUD/USD pair climbed to session to
GBP/USD is seen at risk of breaking above 1.2363, its downtrend from late March, which would re-expose the April highs at 1.2643/48, economists at Credit Suisse apprise. Commerzbank also has the mentioned April high in focus.
“Above 1.2363 should confirm to see the downtrend break with
Silver struggles to break above $17.50 despite the bullish 4-hour chart.
A deeper decline could be seen if the diamond breakout seen on the 4-hour chart fails.
Silver is currently trading near $17.41 per ounce, representing a 0.21% gain on the day, having faced rejection near $17.50 on Thursday
AUD/JPY fails to extend the bounce off 71.17 much beyond 71.43.
Japan’s Retail Sales, Tokyo CPI and Unemployment Rate flashed better than forecast results.
200-HMA adds to the downside support below a two-week-old rising trend line.
Buyers will wait for a sustained break above the weekly resistan