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Buy USDJPY
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USDJPY: Momentum Indicators Weakening, but Overall Uptrend Remains Intact

USDJPY edged lower on Thursday, keeping negative momentum below the psychological mark of 140.00 after failing to break the 141.00 level several times over the past week. The overall outlook remains bullish but is weakening as the Relative Strength Index (RSI) momentum is approaching the border of negative territory and the stochastic oscillator is moving down.

Eva Chen

Buy USDCAD
Trading

USDCAD: Cyclical Rally Opportunities Exist Before Further Decline in the Asset

The Bank of Canada unexpectedly raised the overnight rate by 25 basis points to 4.75% and indicated its commitment to continue implementing quantitative tightening (QT) to support the Canadian dollar.

Eva Chen

Buy EURUSD
PENDING

EURUSD: Euro Rebounds Unsteadily with Stronger Support Below

EURUSD is currently trying to find support. Although the uptrend has been broken, it is expected to recover.

King Ten

Trauma of Japan's Deflation Battle keeps BOJ Wary of Policy Shift

Japan's bitter memories of its decades-long battle with deflation hang heavily over the central bank's deliberations to take its first modest step away from ultra-loose monetary policy, even as inflation and wages creep up.

Damon

Fading Risks, Fear of Missing out May fuel U.S. Stocks After Near 20% Rally

Worries that have dogged U.S. stocks for months are fading, pushing some Wall Street firms to raise their outlooks for equities and beckoning investors who have remained on the sidelines.

Alex

Worries That More Might Be Needed

The Bank of Canada has resumed hiking after a pause, highlighting concerns that elsewhere more might be needed to bring inflation down even as the Fed is mulling a pause of its own.

Cohen

Late Cycle Dollar Strength Meets the Carry Trade

We see two key themes driving FX markets near term. The first is central banks continuing to battle inflation, yield curves staying inverted, and the dollar continuing to hold gains.

Samantha Luan

Sell USDCNH
PENDING

USDCNH: Depreciation Pressure Exists but Limited

CNH faces short-term depreciation pressure based on fundamentals but will not decline significantly.

King Ten

Surprise BoC Hike Fuels Hawks Around the World

The surprise 25bp hike from the Bank of Canada (BoC) yesterday sent shockwaves across the financial markets.

Damon

Currency Markets Hold Steady, AUD and CAD Strong, JPY Eyes Yields

The global forex markets are in a state of relative tranquillity today, as the dust begins to settle following two central bank surprises.

Samantha Luan

Rising Yields Keep Stock Markets Subdued

We saw another cautious day for European markets yesterday with little in the way of overall direction, after China exports for May plunged by -7.5% raising concerns about the outlook for global demand, while the Bank of Canada followed the RBA in hiking interest rates by 25bps.

Devin

Dollar's Strength Here to Stay; Only A Rate Cut Could Dent It

The dollar's renewed strength against most major currencies will not fade away anytime soon, according to FX strategists polled by Reuters, who said it would take rate cuts from the Federal Reserve to weaken the currency substantially.

Alex

US Crude Inventories Experience Unexpected Decline, Distillate Stockpiles Soar: EIA

In a surprising turn of events, the latest data from the Energy Information Administration (EIA) Petroleum Status Report revealed a significant decline in US crude oil inventories. The unexpected drop comes amidst market expectations of an increase in supplies, potentially impacting the energy marke

Warren Takunda

Malaysian Inflation Isn't Misbehaving, Says BNM Assistant Governor

Malaysia's inflation currently isn't misbehaving, giving the central bank room to keep up its "conditional pause", according to a senior official.

Thomas

DXY Holds Steady as Investors Await Inflation Data and Fed Decision

In the face of impending inflation data and the highly anticipated Federal Reserve decision next week, the US dollar index (DXY) demonstrated resilience, maintaining a stable position around 104. Market sentiment remains cautious as investors carefully assess the potential impact of consumer inflati

Warren Takunda

Bonds Everywhere Are Suffering as Rate-Hike Fears Swamp Traders

Global bonds are slumping after two shock interest-rate hikes this week served traders a reality check that central banks are far from done fighting inflation.

Cohen

US Trade Gap Widens, but Falls Short of Market Expectations in April 2023

Exports Slump and Imports Rise, Influenced by Key Industries and Trading Partners

Warren Takunda

Nickel Prices Coming Supply Glut but Stocks Keep Falling

Nickel has been the under-performer of the London Metal Exchange (LME) base metals pack this year.

Owen Li

Buy XAUUSD
PENDING

XAUUSD: Under the Atmosphere of External Interest Rate Hikes, Gold Prices Fell Under Pressure

Gold prices may be under pressure in the short term, and buying opportunities are coming.

King Ten

Bank of Korea: Early Policy Shift May Add Pressure on Local Currency

South Korea's central bank warned on Thursday (June 8) that an early shift in its monetary policy stance could pile more pressure on the local currency, a risk that needs to be properly addressed.

Thomas

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