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Australia CFTC AUD NC Net Positions dipped from previous $-117.3KÂ to $-127.3K
Australia CFTC AUD NC Net Positions dipped from previous $-117.3KÂ to $-127.3K
Philippine Peso: Bearish but constrained by Oil – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong note Philippine Peso (PHP) remains under pressure even after a larger-than-expected 50bp Bangko Sentral ng Pilipinas (BSP) hike to 5.50%, reflecting persistent inflation concerns. Higher rates may temper depreciation but are unlikely to fully offset elevated Oil prices, external imbalances and domestic growth worries. OCBC keeps a cautious stance, saying a sustained PHP recovery needs lower Oil and a better external backdrop.
Silver Price Forecast: Fresh yearly low puts $50 in bears’ sight
Silver (XAG/USD) price downtrend extended on Friday, losing over 1% after hitting a new yearly low of $53.03, paving the way for sellers to challenge the $50.00 level in the foreseeable future. At the time of writing, XAG/USD trades near $54.00.
Gold falls below $4,000 as Oil surge deepens weekly rout ahead of Fed
Gold (XAU/USD) price prolongs its agony, tumbling by nearly 0.60% on Friday and poised to finish the week with losses as higher energy prices increase the chances that major central banks could tighten monetary policy to control inflation.
South Korean Won: Hawkish BoK supports consolidation – Commerzbank
Commerzbank’s Charlie Lay and Dr. Henry Hao highlight that the Bank of Korea (BoK) kept its policy rate at 3.00% after two prior hikes, but delivered a clearly hawkish message. Strong semiconductor exports underpin higher growth expectations and rising inflation pressures.
EUR/USD Price Forecast: 200-week SMA offers last line of defense
EUR/USD trades on the back foot on Friday as the US Dollar (USD) regains some ground alongside US Treasury yields following Thursday’s decline.
Singapore Dollar: Modest upside bias against US Dollar - UOB
United Overseas Bank strategists (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD was little changed on Thursday, trading in a narrow band as safe-haven flows and Oil gains supported the US Dollar against Asian currencies.
Crude Oil rises to a 22-week high on Gulf attacks
Two days of Houthi attacks in Saudi Arabia and strikes on ships leaving the Strait of Hormuz have taken WTI above the $95.00-$101.00 band it held from Monday to Thursday.
United States Baker Hughes US Oil Rig Count climbed from previous 459 to 460
United States Baker Hughes US Oil Rig Count climbed from previous 459 to 460
Turkish Lira: CBRT maintains cautious easing stance - Commerzbank
Tatha Ghose at Commerzbank reports that Turkey’s Central Bank of the Republic of Türkiye (CBRT) cut its one-week repo rate by 100bp to 36.0%, alongside similar moves in overnight rates.
British Pound falters near 1.3400 as US business strength lifts US Dollar
The Pound Sterling (GBP) retreats by about 0.16% against the US Dollar (USD) on Friday as US business activity expands, while consumer sentiment worsens, with households complaining about high prices. At the time of writing, GBP/USD trades at 1.3366.
Swiss Franc retreats as markets turn to Fed's interest rate decision
USD/CHF rebounds on Friday, reversing the previous day’s losses as the US Dollar (USD) regains some ground alongside US Treasury yields. At the time of writing, the pair trades around 0.8250, up 0.56% on the day, after falling to a one-month low of 0.8191 on Thursday.
Australian Dollar extends gains on RBA rate hike expectations ahead of Fed decision
AUD/USD extends its gains on Friday, trading around 0.7035 at the time of writing, up 0.20% on the day.