2023-09-18 09:27

Market Update - 18 September 2023 The EUR/USD pair recovers from the recent losses and trades near 1.0675 during the early European trading hours on Monday. The upside of the major seems limited as investors await the Federal Reserve (Fed) interest rate decision on Wednesday. (FXStreet) The USD/JPY pair consolidates in a narrow range after retracing from the 147.95 area during the early European session on Monday. Markets turn cautious ahead of the key event from both the Federal Reserve (Fed) and Bank of Japan (BoJ) this week. The major currently trades near 147.68, losing 0.11% on the day. (FXStreet) GBP/USD struggles to halt the two-day losing streak, recovering from the intraday losses and trading around 1.2380 during the European session on Monday. The pair is facing downward pressure ahead of the interest rate decisions from the United States (US) and the United Kingdom (UK). (FXStreet) The USD/CHF pair snaps its three-day winning streak during the early European session on Monday. Meanwhile, the US Dollar Index (DXY) hovers around 105.25 after retreating from a nine-month high of 105.40. The pair currently trades near 0.8966, losing 0.11% on the day. Market players await the key interest rate decision from the Federal Reserve (Fed) and the Swiss National Bank (SNB) on Wednesday and Thursday, respectively. (FXStreet) The AUD/USD pair recovers its losses after retracing from a two-week high of 0.6473 during the early European session on Monday. The pair is trading at 0.6445, gaining 0.24% on the day. Market players prefer to wait on the sidelines ahead of the monetary poly meeting of the Reserve Bank of Australia (RBA) and the Federal Reserve (Fed). (FXStreet) The USD/CAD pair kicks off the new week on a subdued note and remains well within the striking distance of a two-week low set on Friday. Spot prices, however, manage to hold above the 1.3500 psychological mark through the Asian session, though struggle to attract any meaningful buying in the wake of a modest US Dollar (USD) weakness. (FXStreet) NZD/USD starts the week on a positive note, trading higher around 0.5910 during the Asian session on Monday. The pair is experiencing upward support ahead of the interest rate decision by the US Federal Reserve (Fed) scheduled on Wednesday. (FXStreet) EUR/GBP attempts to extend its gains on the second day, trading higher around 0.8610 during the European session on Monday. The pair might gain strength after the statement made by the European Central Bank’s (ECB) President Christine Lagarde on Friday. (FXStreet) The GBP/JPY cross kicks off the new week on a positive note, albeit lacks follow-through buying and remains confined in Friday's broader trading range. Spot prices trade around the 183.00 round figure, near the 50-day Simple Moving Average (SMA) during the Asian session and remain well within the striking distance of a five-week low touched last Thursday. (FXStreet) USD/INR attempts to continue the winning streak that began on Tuesday, trading higher around 83.10 during the Asian session on Monday. The Indian Rupee (INR) is experiencing downward pressure due to the trade balance figure. (FXStreet) The USD/CNH pair builds on Friday's modest rebound from the 7.2595 region, or a nearly two-week low and gains some positive traction during the Asian session on Monday. Spot prices currently trade around the 7.2905 area, up over 0.10% for the day, flirting with the top boundary of a three-day-old range. (FXStreet) The USD/MXN pair remains depressed for the seventh straight day and slides to over a two-week low, around the 17.0485 level during the Asian session on Monday. (FXStreet) On Monday, the People’s Bank of China (PBOC) fixed the USD/CNY central rate at 7.1736, compared with Friday’s fix of 7.2760 and market expectations of 7.2707. The PBOC injected 184 billion Yuan via 7-day reverse repos at 1.80% vs. prior 1.80%. The Chinese central bank added 60 bln yuan via 14-day reverse repos at 1.95% vs. prior 1.95%. (FXStreet) WTI prices extended its rally and surpassed the key $90.00 mark per barrel on Friday. The daily advance, however, was on the back of shrinking open interest, indicating that a corrective move could be in the offing in the very near term. In the meantime, the November 2022 peak near $94.00 (November 7) emerges as the next up-barrier for the commodity. (FXStreet) Prices of natural gas dropped to three-day lows at the end of last week. The move was against the backdrop of increasing open interest and suggest that further decline could be in store for the commodity in the short-term horizon. That said, the 100-day SMA around $2.52 per MMBtu emerges as a temporary contention area for the time being. (FXStreet) Gold price continues with its struggle to make it through the $1,930 resistance zone and pulls back from a one-week high touched earlier this Monday. The XAU/USD, however, manages to hold in the positive territory for the second successive day and trades around the $1,925 region, up just over 0.10% during the first half of the European session. (FXStreet) Silver attracts fresh buyers near the $23.00 mark on the first day of a new week and sticks to its modest intraday gains through the early part of the European session. The white metal currently trades around the $23.15 area, up 0.45% for the day, though remains below Friday's swing high. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-15 09:20

NZD/USD struggles to preserve its modest intraday gains, though the downside remains limited. The risk-on impulse prompts some USD profit-taking and lends support to the risk-sensitive Kiwi. The lack of follow-through buying warrants some caution before positioning for any further gains. (FXStreet) AUD/USD is extending the rebound toward 0.6500 on strong Chinese data and policy support measures. USD/CAD is struggling near 1.3500 amid a pause in the oil price rally and a broad US Dollar retreat. WTI is trading close to the multi-month high of $90.56, at the time of writing. (FXStreet) EUR/USD is building on the rebound from six-month lows reached at 1.0633 on Thursday. The European Central Bank (ECB) hiked the key rates by 25 basis points (bps) but signaled that it could be the last hike amid downward revisions to the central bank’s growth and inflation forecasts. (FXStreet) USD/JPY holds ground near 147.50, gaining 0.02% on the day. The upbeat US data on Thursday indicate that the US economy remains resilient and inflation rebounded in August. BoJ said a pivot would not be considered if wage and inflation data do not reach its forecast. (FXStreet) USD/CAD attracts some sellers and trades in negative territory for the sixth consecutive day on Friday. The pair holds below the 50- and 100-hour EMAs; the Relative Strength Index (RSI) stands below 50. The immediate resistance level for the pair is seen at 1.3530; the 1.3490 acts as an initial support level. (FXStreet) GBP/USD gains some positive traction and moves away from a multi-month low set on Thursday. A combination of factors prompts some USD profit-taking, which, in turn, lends support to the pair. Diminishing odds for more aggressive BoE rate hikes might keep a lid on further gains for the GBP. (FXStreet) USD/MXN remains depressed near a one-and-half-week low touched on Thursday. Some follow-through selling below the 50-day SMA will confirm a fresh breakdown. Attempted recovery might now confront resistance near the 17.20-17.25 confluence. (FXStreet) AUD/JPY trades in positive territory for the sixth straight day on Friday. Relative Strength Index (RSI) holds above 50 in the bullish territory. The immediate resistance level emerges at 95.78; the initial support level is located at 94.23. (FXStreet) USD/INR is seen consolidating in a narrow band just above the 83.00 mark. The technical setup favours bulls and supports prospects for additional gains. Any meaningful corrective slide is likely to get bought into and remain limited. (FXStreet) EUR/JPY gains traction around 157.40 amid the Euro demand. The cross holds below the 50- and 100-hour EMAs; the Relative Strength Index (RSI) stands above 50, within bullish territory. The immediate resistance level is located at 157.50; the initial support level is seen at 156.63. (FXStreet) USD/CNH retraces the previous day’s gains on China’s positive economic data. PBoC has reduced the Reserve Requirement Ratio by 25 bps. US Dollar (USD) is trading near its six-month high after the US positive economic data. (FXStreet) EUR/GBP experiences downward pressure despite a 25 bps rate hike by the ECB. ECB indicates the current rate hike cycle to reach its peak, dampening the Euro. UK's economy struggles between the BoE’s hawkish stance and the weakening demand environment. (FXStreet) EUR/CHF: Retail trader data shows 85.65% of traders are net-long with the ratio of traders long to short at 5.97 to 1. Our data shows traders are now at their most net-long EUR/CHF since Sep 05 when EUR/CHF traded near 0.95. The number of traders net-long is 6.02% higher than yesterday and 1.65% higher from last week, while the number of traders net-short is 38.61% lower than yesterday and 18.42% lower from last week. (DailyFX) Daily USD/ZAR price action above has now pushed up towards the 19.0000 psychological handle coinciding with trendline resistance. Next week’s Fed rate decision and South African inflation could be the catalyst that gives traders some directional bias moving forward. Currently, as reflective via the Relative Strength Index (RSI), markets favor neither bullish nor bearish momentum, underlying their indecision. (DailyFX) WTI prices rise to the YTD high and hold above the $90 mark for the first time since November 2022. IEA said the loss of OPEC+ output would cause a major supply shortfall during the fourth quarter beginning in September. China's economic challenges remain in the spotlight. Oil traders will closely watch the Chinese data including Retail Sales and Industrial Production. (FXStreet) Gold price strengthens after China’s positive data and fresh fiscal stimulus. US Dollar (USD) has pulled back from its six-month high; contributing support for the yellow metal. Enhanced US bond yields could offer support in constraining the correction of the US Dollar (USD). (FXStreet) Silver gains strong positive traction and moves away from a one-month low touched on Thursday. Technical indicators on the daily chart warrant some caution before placing aggressive bullish bets. A sustained strength beyond the $23.20 area is needed to support prospects for additional gains. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-14 09:25

The Euro appears mildly bid against the US Dollar. Stocks in Europe opened Thursday’s session mostly in the red. EUR/USD continues to trade in a consolidative mood this week. The USD Index (DXY) has met decent resistance around 105.00. The ECB is seen keeping interest rates steady. US Producer Prices and Retail Sales take centre stage across the Atlantic. (FXStreet) USD/JPY meets with some supply on Thursday and is pressured by a combination of factors. Bets that the BoJ will end its negative interest rate policy lift the JPY and weigh on the major. A modest USD downtick contributes to the fall, though the 147.00 mark helps limit losses. (FXStreet) USD/CAD holds ground below 1.3550 ahead of the US data. MACD suggests a potential momentum shift in the upward trajectory of the Loonie pair. 1.3500 psychological level emerges as the immediate support, following the 38.2% Fibonacci retracement. (FXStreet) AUD/USD trades near 0.6435, holds above the 50- and 100-hour EMAs. The immediate resistance level for AUD/USD is seen at the 0.6445-0.6455 zone; 0.6418 acts as an initial support level. Relative Strength Index (RSI) stands in bullish territory above 50. (FXStreet) GBP/USD oscillates around the 1.2485- 1.2505 region in a narrow trading band. UK Unemployment Rate rose by 4.3% vs. 4.2% prior; the growth number shrank 0.5% MoM in July vs. 0.5% expansion in June. US Consumer Price Index (CPI) climbed 0.6% MoM from 0.2% in the previous reading. Market players await the US weekly Initial Jobless Claims, Producer Price Index (PPI), Retail Sales due on Wednesday. (FXStreet) NZD/USD’s fall in August below key support at the August low of 0.5985 keeps the medium-term term bias down even as it tries to hold above the lower edge of a downtrend channel since early 2023. This follows a failed attempt in July to clear past stiff resistance at the April high of 0.6375, coinciding with the 89-week moving average. (DailyFX) USD/CHF posts modest losses near 0.8930 amid the weaker USD. US Consumer Price Index (CPI) rose 0.6% MoM from 0.2% in July, the highest monthly gain in 14 months. Markets believe that interest rates will remain unchanged at next week's FOMC meeting. Swiss Producer and Import Prices (Aug) will be due on Wednesday ahead of the US Initial Jobless Claims, Retail Sales data. (FXStreet) USD/RUB gains ground near 96.60 amid the weaker USD. Russia's economic development ministry has revised its inflation projection for this year from 5.3% to 7.5%. The Bank of Russia's interest rate decision will be in the spotlight on Friday. (FXStreet) EUR/GBP trades higher ahead of the ECB interest rate decision. Differing views among analysts underscore the prevailing uncertainty surrounding the ECB's decision. BoE Governor Andrew Bailey's recent remarks could provide support for the undermining of the British Pound (GBP). (FXStreet) GBP/JPY meets with a fresh supply and snaps a two-day winning streak to the weekly high. Bets that the BoJ will drop its negative interest rate policy boost the JPY and exert pressure. Speculations that the BoE is nearing the end of its rate-hiking cycle contribute to the decline. (FXStreet) EUR/JPY attracts some dip-buying on Thursday, albeit lacks strong follow-through. Bets that the BoJ will end its ultra-easy monetary policy lift the JPY and cap gains. Traders keenly await the pivotal ECB rate decision before placing directional bets. (FXStreet) AUD/JPY trades in positive territory for four straight days on Thursday. The immediate resistance level for AUD/JPY emerges at 94.82; the initial support level is seen at 94.40. Relative Strength Index (RSI) holds above 50 in the bullish territory. (FXStreet) USD/INR edges higher on Thursday, albeit remains confined in a three-day-old trading band.The constructive technical setup favours bullish traders and supports prospects for further gains. A convincing break below the 100/200-day SMAs confluence will negate the positive outlook. (FXStreet) USD/MXN trades lower after the release of US CPI data on Wednesday. US Dollar (USD) experienced downward pressure following the market sentiment of no interest rate hike by the Fed in September. Core PPI and Retail Sales will be eyed, seeking further cues on economic activities in the US. (FXStreet) WTI prices hold ground around $88.25 amid the unexpected surge in US inventories and stronger USD. US crude oil inventories rose by nearly 4M barrels for the week ending September, the first rise in five weeks. A tighter supply by voluntary oil production cuts by Saudi Arabia and Russia might lift WTI prices. (FXStreet) Gold price holds ground above $1,900, snapping a losing streak. CME FedWatch Tool indicates the interest rates to remain within the range of 5.25% to 5.50% in the Fed's September meeting. Fed dovish sentiment is weakening the Greenback. (FXStreet) Silver gains some positive traction on Thursday, albeit lacks bullish conviction. The overnight breakdown through a multi-day-old trading range favours bears. Momentum back above the $23.00 mark could be seen as a selling opportunity. (FXStreet) Source: FXStreet, DailyFX Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-13 09:47

EUR/USD attracts some sellers around 1.0745 amid the cautious mood. European Central Bank (ECB) expects inflation in the Eurozone to remain over 3% next year, supporting another rate hike on Thursday. Investors await the US Consumer Price Index (CPI) ahead of the ECB interest rate decision. (FXStreet) NZD/USD treads waters to recover from the losses registered on Tuesday. Greenback’s recovery can be attributed to improved US bond yields and market caution ahead of US inflation data. Investors are expecting the Fed to continue the tightening of monetary policy through the end of the year 2023. (FXStreet) USD/JPY scales higher for the second straight day and refreshes weekly high on Wednesday. The divergence Fed-BoJ policy outlook continues to act as a tailwind and remains supportive. The upside remains capped as traders await the US CPI before placing fresh directional bets. (FXStreet) USD/CAD trades higher after a losing streak ahead of the US data releases. Higher Crude price is contributing support for the Canadian Dollar (CAD). US inflation is expected to be improved; underpinning the US Dollar (USD). (FXStreet) GBP/USD oscillates in the 1.2480-1.2502 region in a trading band. The pair holds below the 50- and 100-hour EMAs on the one-hour chart; the RSI stands below 50. The critical resistance level is seen at the 1.2500-1.2505 zone; 1.2460 acts as an initial support level. (FXStreet) AUD/USD remains under pressure around 0.6400 ahead of the US key inflation data. The Australian Consumer Confidence data exerts some pressure on the Aussie. The US Dollar (USD) may benefit from the higher for longer interest rate narrative in the US. US Consumer Price Index (CPI), Australian employment data will be closely watched events. (FXStreet) USD/CHF consolidates above the previous gains ahead of US economic data. The rebound in US bond yields and market caution lift the US Dollar. Elevated inflation figures could further reinforce the potential of the pair. (FXStreet) USD/INR hovers around 82.90 amid the renewed USD demand. Indian Consumer Price Index (CPI) for August came in at 6.83% YoY vs. 7.44% prior, below the expectation. The upside in the US Dollar (USD) is bolstered by the longer interest rate narrative in the US. Market players await the US CPI data due later in the American session on Wednesday. (FXStreet) EUR/GBP attracts some buyers and edges higher to 0.8626 after the UK growth data. European Central Bank (ECB) anticipates inflation in the Eurozone to remain over 3% next year. UK growth number shrank 0.5% MoM in July vs. 0.5% expansion in June, worse-than-expectation. (FXStreet) AUD/JPY: Retail trader data shows 50.65% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Sep 05 when AUD/JPY traded near 94.15, price has moved 0.24% higher since then. The number of traders net-long is 15.92% higher than yesterday and 22.63% higher from last week, while the number of traders net-short is 2.58% lower than yesterday and 9.13% higher from last week. (DailyFX) Gold price trades directionless as investors shift focus to US inflation data. Investors worry that upside risks to headline CPI could elevate the likelihood of a final interest rate hike from the Fed. The US economy may avoid recession but higher interest rates could dampen economic prospects. (FXStreet) WTI Crude Oil prices extend the upward trajectory and climb to a fresh YTD peak on Wednesday. The technical setup favours bullish traders and supports prospects for a further appreciating move. The RSI on the daily chart is already flashing overbought conditions and warrants some caution. (FXStreet) Silver Price extends its losses due to recovery in the US Dollar (USD). Upbeat US Treasury yields could provide support in undermining the Silver asset. Elevated inflation figures could further reinforce the Fed’s hawkish tone, supporting the Greenback. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-11 10:08

USD/JPY finds an intermediate support near 146.00 as the impact the BoJ Ueda’s hawkish remark starts easing. The USD index corrected from a fresh six-month high near 105.00 Fed policymakers supported keeping the interest rate policy steady. Fed Goolsbee said the central bank is aiming to push the economy to a “golden path,”. (FXStreet) AUD/USD gains strong positive traction on Monday and is supported by a sharp USD slide. A hawkish BoJ-inspired rally in the JPY weighs on the USD as trades look to the key US CPI. China’s economic woes might hold back bulls from placing aggressive bets around the pair. (FXStreet) EUR/USD extends gains on the pullback in the US Dollar (USD). Investors await US CPI, seeking valuable insights into the inflation outlook. Euro’s strength could be limited as the ECB is expected to keep interest rates unchanged. (FXStreet) NZD/USD rises due to more likelihood of a dovish policy stance by the Fed in the September meeting. MACD suggests that the short-term trajectory is favoring a sideways trend. The previous week’s bottom emerges as the initial support aligned to the 0.5850 psychological level. The key barrier level is represented by the 21-day Exponential Moving Average (EMA) at 0.5947. (FXStreet) USD/CAD is trading near the 1.3600 mark, above the key 100-hour EMA. The relative Strength Index (RSI) stands in the bearish territory below 50. 1.3650 will be the immediate resistance level; 1.3575 acts as an initial support level. (FXStreet) GBP/USD gains some positive traction on Monday and moves away from a three-month low. A modest USD pullback from a multi-month top is seen as a key factor lending some support. Traders now look to this week's key macro data from the UK and the US for a fresh impetus. (FXStreet) EUR/JPY loses momentum following the Bank of Japan's (BoJ) hawkish statement. European Central Bank (ECB) is expected to hold interest rates unchanged on Thursday. Japanese policymakers said BoJ could exit its negative interest rate policy when its inflation target of 2% is insight. ECB monetary policy decision will be in the spotlight this week. (FXStreet) USD/INR extends its losses on the third day, driven by the anticipation of a dovish Fed policy in September. Upbeat Gift Nifty is underpinning the Indian Rupee (INR). Improved US Treasury yields could support the US Dollar (USD). US Treasury Secretary Janet Yellen has conveyed her confidence in controlling inflation without affecting the labor market. (FXStreet) AUD/JPY recovers from the intraday losses amid BoJ’s hawkish comments. BoJ Governor Kazuo Ueda suggested the odds of interest rate hikes in the future. Investors turn cautious as China’s weak demand weakens the Australian Dollar (AUD). (FXStreet) USD/CHF kicks off the new week on a weaker note, albeit lacks follow-through selling. A modest USD pullback from a multi-month top is seen exerting pressure on the major. Hawkish Fed expectations, elevated US bond yields limit losses for the USD and the pair. (FXStreet) GBP/JPY cross trades within the descending triangle pattern since August. The 50-hour EMA is on the verge of crossing below the 100-hour EMA. The first resistance level of GBP/JPY is seen at 184.40; 183.10 acts as an initial support level. (FXStreet) The failure of EUR/AUD to resume its uptrend last week could be a sign that the consolidation that started last month isn’t over. EUR/AUD retreated from near a tough hurdle at the end-August highs of around 1.6880, coinciding with the upper edge of the Ichimoku cloud on the 240-minute charts.The cross is now testing a vital floor area: the 200-period moving average, slightly above a horizontal trendline since August (at about 1.6635). Any break below 1.6635 could raise the odds of further losses, initially toward 1.6450. (DailyFX) GBP/AUD is testing a crucial converged cushion: the 200-period moving average, coinciding with a horizontal trendline from the end of August (at about 1.9450), not too far from an uptrend line from June. A hold above the support area is key for the uptrend to resume. To be sure, a break below isn’t imminent, but any break below would point to an extended consolidation with a slightly weak bias. On the upside, GBP/AUD would need to break above last week’s high of 1.9750 for the bullish bias to resume. (DailyFX) Gold price remains sideways as the market awaits US inflation data for further action. The US Dollar corrects marginally, while the broader bias remains bullish due to US economic resilience. Fed policymakers are expected to maintain the status quo on September 20 as US inflation is falling and the economy is better balanced. (FXStreet) WTI Crude Oil prices extend the sideways consolidative price move on the first day of a new week. The setup favours bulls and supports prospects for a breakout through a one-week-old trading range. A break below the trading range support will expose last week's swing low, around $84.60-$84.55. (FXStreet) Silver gains positive traction and snaps an eight-day losing streak to over a two-week low. The technical setup supports prospects for the emergence of fresh selling at higher levels. Bears might wait for a fall below the $22.85-80 region before positioning for further decline. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-08 09:23

Market Update - 08 September 2023 AUD/USD extends its consolidative price move for the third straight day on Friday. China's economic woes and the RBA's status quo continue to weigh on the Aussie. The USD consolidates below multi-month low and lends support, for the time being. (FXStreet) EUR/JPY holds above the 157.60 mark but remains below the 50- and 100-hour EMAs. The Relative Strength Index (RSI) stands below 50, within a bearish territory. The immediate resistance level is seen at 157.88; the critical support level to watch is at 157.20. (FXStreet) EUR/USD stages a modest recovery from a three-month trough touched on Thursday. Retreating US bond yields prompts some USD profit-taking and remains supportive. The fundamental backdrop warrants some caution before positioning for further gains. (FXStreet) USD/JPY attracts fresh buying following the release of the final GDP report from Japan. Intervention fears hold back bulls from placing fresh bets amid a modest USD downfall. The Fed-BoJ policy divergence suggests that the path of least resistance is to the upside. (FXStreet) USD/CAD drifts lower during the Asian session on Friday amid a modest USD weakness. A combination of factors warrants some caution before positioning for any meaningful slide. Traders now look forward to the monthly Canadian employment details for a fresh impetus. (FXStreet) GBP/USD snaps the losses due to a pullback in the Greenback. US robust labor data provided support in underpinning the US Dollar (USD). Investors expect the conclusion of BoE’s policy tightening phase could place downward pressure on the Pound Sterling (GBP). (FXStreet) The rally in the dollar enters and impasse around 105.00. US yields look poised to extend the decline. Wholesale Inventories, Consumer Credit Change next on tap. Following recent multi-week tops past the 105.00 barrier, the greenback now gives away part of those gains when tracked by the USD Index (DXY) at the end of the week. (FXStreet) USD/CNH extends its gains due to the firmer US Dollar (USD) following the consistent stream of upbeat economic data. Momentum indicators indicate a favorable upward trend in the short-term trajectory. Chinese President Xi Jinping will not attend the G20 leaders' summit in New Delhi. (FXStreet) NZD/USD struggles to hold ground near the 0.5900 psychological level. US Treasury yields have trimmed the daily losses, which might support the US Dollar (USD). Fed is expected to adopt a hawkish stance, which is exerting pressure on the pair. (FXStreet) USD/INR drifts lower for the second successive day, albeit lacks follow-through selling. The technical setup supports prospects for the emergence of dip-buying at lower levels. A convincing break below the 200-day SMA is needed to negate the positive outlook. (FXStreet) WTI price trades lower around $85.90 due to the stronger US Dollar (USD). US solid employment data exert pressure on the prices of black gold. Investors anticipate a hawkish stance from the Fed; contributing to the strengthening of the Greenback. (FXStreet) Gold price trades higher due to retreating in US Dollar (USD) from a winning streak. The decline in US Treasury yields has contributed to the correction in the Greenback. China-linked fears could suppress the demand for precious metal. (FXStreet) Silver gains some positive traction and snaps a seven-day losing streak to over a two-week low. The technical setup still favours bears and warrants caution before positioning for further gains. A sustained move beyond the 100-period SMA on the 4-hour chart will negate the bearish bias. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.