2023-08-29 09:08

Market Update - 29 Aug 2023 USD/CHF takes offers to extend Friday’s retreat from seven-week high to print two-day losing streak. Upbeat oscillators, key support keeps Swiss Franc pair buyers hopeful despite latest U-turn from multi-month-old resistance line. Convergence of 50-DMA, rising trend line from mid-July appears a tough nut to crack for bears. US CB Consumer Confidence eyed for clear directions as Fed Powell’s speech highlighted data dependency for future policy moves. (FXStreet) USD/CAD trades around 1.3600 ahead of the releases of US macroeconomic data. The decline in Crude oil prices is exerting upward pressure on the USD/CAD pair. China's fiscal stimulus faded the safe haven appeal of the US Dollar (USD). (FXStreet) AUD/USD trades higher ahead of the releases of US macroeconomic data. Investors seek fresh impetus on the economic outlook of both countries. Australia's CPI is due to be released on Wednesday; market consensus shows a reduction. (FXStreet) GBP/USD extends its gains on the back of downbeat US Treasury yields. China's fiscal stimulus is giving rise to cautious optimism and weakening the Greenback. Investors await US data releases to gain fresh impetus on the economic outlook. (FXStreet) USD/JPY prints the first daily loss in four despite lacking downside momentum of late. Japan government report cites 'inflection point' in 25-year battle with deflation, teases BoJ hawks amid softer yields. Downbeat Japan employment data, mixed concerns about inflation keep Yen pair buyers hopeful. US CB Consumer Confidence, yields eyed for fresh impulse. (FXStreet) EUR/USD holds below the 50- and 100-day EMAs on a four-hour chart. The Relative Strength Index (RSI) remains in bearish territory. The first resistance level appears at 1.0845-1.0850 region; the key support level to watch is 1.0800. (FXStreet) The index keeps a tight range near the 104.00 region. The dollar’s rally stalled ahead of 104.50 for the time being. CB Consumer Confidence, housing data next on tap in the docket. The greenback alternates gains with losses around the 104.00 yardstick when measured by the USD Index (DXY) on turnaround Tuesday. (FXStreet) EUR/GBP reverses from two-week high to print the first daily loss in five. UK BRC Shop Price Index drops to the lowest level since October 2022. Germany’s GfK Consumer Confidence Survey gauge slumps -25.5 versus -24.3 expected and -24.6 prior. British trader’s reaction to Jackson Hole, inflation concerns eyed for fresh impulse after long weekend in UK. (FXStreet) EUR/JPY gains momentum for four straight days above the 158.50 mark. Japanese Unemployment Rate rose to 2.7% in July versus 2.5% in the previous month. Investors will focus on German Consumer Price Index (CPI), Eurozone CPI, ECB meeting minutes. (FXStreet) NZD/USD gains positive traction for the second straight day and is supported by a softer USD. Retreating US bond yields and a positive risk tone drag the USD away from a three-month top. Bets for more Fed rate hikes should limit the USD downside and cap further gains for the pair. (FXStreet) USD/CNH lacks any firm intraday direction and remains confined in a range on Tuesday. A sustained break and acceptance below 7.2700 will pave the way for additional losses. Bulls need to wait for a move beyond the 7.3000 before positioning for any further upside. (FXStreet) NZD/USD defends the week-start rebound from yearly low despite lacking momentum of late. US Dollar extends pullback from 11-week high amid cautious optimism, downbeat yields. Hopes of early PBoC rate cut, more stimulus from China propel Kiwi prices. US CB Consumer Confidence, risk catalysts eyed for clear directions. (FXStreet) WTI crude oil extends the week-start retreat within a fortnight-old bearish channel. Downside break of rising support line from Wednesday, looming bear cross on MACD also favor energy sellers. Oil price recovery needs validation from 100-SMA and US data to recall commodity buyers. (FXStreet) Natural Gas Price pares intraday loss during four-day winning streak around weekly top. Hopes of more energy demand due to weather forecasts, tropical storm Idalia and supply crunch fears fuel XNG/USD price. Softer US Dollar, cautious optimism also underpin XNG/USD run-up. Risk catalysts eyed for clear directions, US Dollar moves will be crucial to watch. (FXStreet) Gold price attracts some buyers for the second successive day amid modest USD weakness. Retreating US bond yields drags the USD away from a nearly three-month top set last week. Hawkish Fed expectations should limit the USD losses and cap the upside for the XAU/USD. (FXStreet) Silver regains positive traction on Tuesday, albeit lacks follow-through. Positive oscillators on the daily chart support prospects for further gains. A break below $23.80 support might prompt aggressive technical selling. (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

2023-08-28 09:00

Market Update - 28 Aug 2023 EUR/USD remains on the defensive around 1.0808, bouncing off the low of 1.0765. European Central Bank (ECB) President Lagarde said that the fight against inflation is not over. Fed’s Powell is prepared to raise interest rates further, if necessary. Investors await Eurozone CPI data, US Nonfarm Payrolls data for fresh impetus. (FXStreet) USD/JPY retreats from YTD high but lacks downside momentum while printing the first daily loss in three. Fed’s Powell defends higher rates but cites data-dependency to prod policy hawks. BoJ’s Ueda cites inflation concerns to support ultra-easy monetary policy. China-inspired risk-on mood, positioning for top-tier data also weigh on Yen pair. (FXStreet) GBP/USD attracts some buying on Monday and draws support from a modest USD downtick. Hawkish remarks by BoE's Broadbent underpin the GBP and act as a tailwind for the major. Bets for one more Fed rate hike in 2023 should limit the USD losses and cap any further gains. (FXStreet) AUD/USD attracts some intraday sellers on Monday and retreats to the daily low in the last hour. Looming recession risks overshadow China’s new measures and act as a headwind for the major. Bets for one more Fed rate hike in 2023 limit the USD losses and contribute to capping the upside. (FXStreet) The index slips back to the 104.00 region on Monday. The dollar comes under pressure as investors digest Powell’s speech. The Dallas Fed manufacturing gauge is due in the US docket. The greenback, when tracked by the USD Index (DXY), comes under some downside pressure and disputes the 104.00 yardstick in the wake of the opening bell in Euroland on Monday. (FXStreet) USD/CAD consolidates due to improved prices of Crude oil. Investors await top-tier macroeconomic data releases from both economies. Chinese authorities reduced the stamp duty on stock trading; WTI crude oil strengthened. (FXStreet) USD/CHF trades lower around 0.8830 due to the retreating US Treasury yields. US Dollar (USD) weakened despite the Fed’s hawkish stance at the Jackson Hole Symposium. Fed Chair Jerome Powell endorsed the idea of maintaining "higher for longer" interest rates. (FXStreet) EUR/GBP traders turn cautious after hawkish statements made by central banks' officials at Jackson Hole Symposium. ECB President Christine Lagarde stated that the battle against inflation continues. Deputy Governor Ben Broadbent’s hawkish statement supported the Pound Sterling. (FXStreet) GBP/JPY stretches previous rebound from monthly support to cross one-week-old resistance line, edges higher of late. Bullish MACD signals, upbeat RSI conditions add strength to recovery moves toward 50-SMA. 200-SMA acts as an extra filter towards the south. (FXStreet) NZD/USD attracts some buyers above 0.5900 on Monday. Chinese finance ministry would reduce the 0.1% duty on stock trading to boost the capital market, strengthen investor confidence. Fed is prepared to hike interest rates further if required but it would be determined by data. Market players await the US Nonfarm Payrolls, Chinese Caixin Manufacturing PMI. (FXStreet) AUD/JPY trades within a descending trend channel on the four-hour chart. The first resistance level for the cross emerges at 94.40; the initial support level is located at 93.85. The Relative Strength Index (RSI), MACD stands in the bullish territory. (FXStreet) WTI crude oil prints the first daily loss in three while retreating from short-term key resistance line. Convergence of 200-day EMA, 50-day EMA puts a floor under the Oil Price. Market’s cautious optimism also favors energy buyers despite mild losses. (FXStreet) Natural Gas price scales higher for the third straight day and climbs to a nearly two-week top. The recent bounce from the 100-day SMA and the ascending channel formation favour bulls. Positive oscillators on the daily chart support prospects for an extension of the positive move. (FXStreet) Silver edges lower on Monday and corrects further from over a three-month high. The 200-period SMA on the 4-hour chart to act as a pivotal point and limit losses. Bulls might wait for a move beyond the $24.35-40 area before placing fresh bets. (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

2023-08-25 09:33

Market Update - 24 Aug 2023 GBP/JPY holds ground near 183.80 due to downbeat Japan’s inflation data. Weekly low appears to be the support following 38.2% Fibo. The cross could face a barrier around 184.00 psychological level. (FXStreet) EUR/JPY fails to capitalize on the overnight modest gains and meets with a fresh supply on Friday. Bets that the ECB will pause its rate-hiking cycle in September act as a headwind for the cross. The BoJ’s dovish stance continues to undermine the JPY and helps limit any meaningful decline. Traders also seem reluctant ahead of speeches by ECB’s Lagarde and BoJ’s Ueda on Saturday. (FXStreet) USD/CAD consolidates below the 1.3600 psychological level. Investors await Fed Chair Powell’s speech, seeking further cues on the inflation outlook. China's economic situation drives Oil prices lower, influencing the Loonie pair. (FXStreet) The index surpasses the 104.00 hurdle to print new highs. Chair Powell will speak later at the Jackson Hole Symposium. Final Michigan Consumer Sentiment takes centre stage in the US docket. The greenback gathers extra steam and surpasses the 104.00 barrier to print new multi-week peaks when tracked by the USD Index (DXY) at the end of the week. (FXStreet) USD/JPY strengthened on Japanese inflation and US employment data. Traders turn cautious ahead of speeches from central banks in Jackson Hole. Japan’s inflation fell amid US Initial Jobless claims printed lower than expected. (FXStreet) EUR/GBP consolidates its gain around the 0.8580 area ahead of the ECB’s Lagarde speech. The German Gross Domestic Product (GDP) Q2 remained unchanged at 0% QoQ, the annual figure came in at -0.2%. The downbeat UK data raised concerns of an impending recession in the economy. Investors await the ECB’s Lagarde speech later in the day. (FXStreet) EUR/USD renews 10-week low amid broad US Dollar strength. Second-rank ECB, Fed officials seem struggling to defend hawkish policy bias but comparatively better US data weighs on Euro. Final readings of German Q2 GDP, IFO figures for August and US consumer sentiment numbers will decorate calendar. Hawkish comments from ECB’s Lagarde will be weighed against recession concerns, Fed’s Powell can fuel Greenback by defying rate cuts. (FXStreet) USD/CAD attracts buyers for the second straight day and climbs back closer to the monthly peak. A bullish USD acts as a tailwind, though rebounding Oil prices might underpin the Lonoie and cap. The overbought RSI (14) might also hold back bulls from placing fresh bets ahead of Fed's Powell. (FXStreet) GBP/USD takes offers to refresh multi-day low amid broad US Dollar strength. Improvement in UK sentiment fails to defend Cable buyers amid British recession woes. Mostly firmer US statistics, hawkish Fed talks exert downside pressure on Pound Sterling. BoE’s Bailey bears more pressure than Fed’s Powell as Jackson Hole closes in. (FXStreet) USD/CHF gains momentum for two straight days above the 0.8850 mark on Friday. The pair holds above the 50- and 100-hour Exponential Moving Averages (EMAs) with an upward slope. The immediate resistance level will emerge at 0.8875; 0.8838, acts as an initial support level for the pair. (FXStreet) USD/RUB holds above 94.70 amid the USD demand. Russian President Vladimir Putin said that BRICS members will consider shifting trade away from USD. Traders will closely watch Fed Chairman Jerome Powell's Speech. (FXStreet) NZD/USD continues losing ground for the second straight day and hits a fresh YTD low. Bets for more Fed rate hikes continue to boost the USD and exert pressure on the pair. Spot prices show resilience below 0.5900 as traders await Fed Chair Powell’s speech. (FXStreet) AUD/USD trades lower around 0.6410 on upbeat US economic data. Traders turn cautious due to mixed statements made by Fed officials. Improved US employment data undermined the AUD/USD pair. (FXStreet) WTI crude oil recovers from key EMA confluence within 13-day-old falling wedge bullish chart formation. Steady RSI, bearish MACD signals and 4.5-month-old horizontal resistance area prod Oil buyers targeting fresh yearly top. Energy benchmark sellers need to conquer $77.30–20 zone to tighten grips. (FXStreet) Thursday’s advance in prices of natural gas was on the back of shrinking open interest, which seems to indicate that the continuation of the recovery is not favoured in the very near term. In the meantime, occasional bullish attempts remain capped by the $3.00 mark per MMBtu. (FXStreet) Gold price meets with some supply and snaps a four-day winning streak to a two-week high. The US Dollar buying remains unabated and is seen driving flows away from the XAU/USD. Looming recession risks might help limit losses ahead of Fed Chair Jerome Powell's speech. (FXStreet) Silver moves away from a multi-week high set on Wednesday, albeit lacks follow-through. A convincing break below the $23.80 confluence should pave the way for deeper losses. Bulls might now wait for a move beyond the $24.35 region before placing aggressive bets. (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

2023-08-24 09:35

Market Update - 24 Aug 2023 GBP/JPY seesaws between tepid gains/minor losses through the early European session. Bets for a lower BoE peak rate undermine the GBP and act as a headwind for the cross. Recession risks benefit the JPY’s relative safe-haven status and contribute to capping. (FXStreet) EUR/GBP trades higher on the back of disappointing UK PMI data. Soft Eurozone PMI could be capping the gains of the pair. Investors await the speech from ECB’s Lagarde, seeking clues about the inflation scenario. (FXStreet) The index looks mildly bid in the mid-103.00s. Markets’ attention shifts to the Jackson Hole event. Durable Goods Orders, weekly Claims next on tap in the docket. The greenback, in terms of the USD Index (DXY), regains some balance and revisits the 103.50 region on Thursday. (FXStreet) USD/JPY strengthened amid a positive tone around the Asian equity markets. Nine-day EMA acts as the barrier, followed by the 146.00 psychological level. Momentum indicators suggest a bullish bias for USD/JPY. USD/CAD loses momentum for two days in a row amid the USD weakness. The pair holds below the key 100-hour Exponential Moving Average (EMA) on the one-hour chart. The first resistance level to watch is 1.3535; the critical support zone is located at the 1.3495-1.3500 region. (FXStreet) EUR/USD trades higher around 1.0870 on the back of downbeat US PMI data. The Euro showed resilience despite weaker Eurozone PMI data. Investors await speeches from Fed Chair Powell and ECB President Lagarde. (FXStreet) USD/CHF remains pressured at weekly low, extends pullback from 50-DMA, key resistance line. Downside break of monthly support line, looming bear cross on MACD also favor Swiss Franc pair sellers. One-month-old horizontal support zone appears a tough nut to crack for bears. Buyers need successful break of 0.8830 to retake control. (FXStreet) NZD/USD comes under heavy selling pressure and is weighed down by resurgent USD demand. Reduced bets for more Fed rate hikes might cap the USD and limit any further losses for the pair. Traders now look to the US macro data for some impetus ahead of the Jackson Hole Symposium. (FXStreet) AUD/JPY trades within a descending trend channel from the middle of June. The first resistance level for AUD/JPY emerges at 94.40; the initial support level is seen at 93.70. The Relative Strength Index (RSI) holds in bullish territory above 50. (FXStreet) USD/IDR takes offers to renew weekly low, down for the third consecutive day. Downbeat US PMIs, positioning for BI status quo weigh on Indonesia Rupiah. Optimism in China, receding fears of higher rates elsewhere add strength to bearish bias. Bank Indonesia is expected to keep rates unchanged at 5.75%; Fed Chair Powell’s speech at Jackson Hole is crucial. (FXStreet) AUD/USD consolidates its gains near 0.6480 ahead of the US data. US Business activity in August expanded at a slow pace The Australian S&P Global PMI came in lower than expected. Investors await the Jackson Hole Symposium, the Federal Reserve (Fed) Chairman Jerome Powell's Speech. (FXStreet) USD/RUB gains momentum around the 94.00 mark amid the cautious mood in the market. Russian President Vladimir Putin warned that inflationary risks were rising in the country. The Jackson Hole Symposium, the Federal Reserve (Fed) Chairman Jerome Powell's Speech will be the highlight. (FXStreet) USD/TRY pushes upside boundaries while refreshing record highs in the last few successive days. Wildfire pushes Ankara to close key Strait, pausing hundreds of ships and fueling inflation woes. US Dollar struggles for clear directions as softer PMIs flag Fed policy pivot concerns but Powell isn’t known dovish. CBRT is expected to lift benchmark Interest Rates by 300 bps to 20.00%, any disappointment can fuel USD/TRY. (FXStreet) WTI crude oil prints four-day losing streak while confirming bearish chart formation. Sustained trading beneath the key SMAs, bearish MACD signals join Head-and-Shoulders to favor energy bears. Six-week-old horizontal support zone can prod WTI bears before directing them toward $71.00 theoretical target. Oil buyers remain off the table below $81.40. (FXStreet) Prices of natural gas retreated for the second session in a row and closed just below the key $2.50 mark on Wednesday. The daily decline came along rising open interest and allows for the continuation of the ongoing retracement in the very near term. Furthermore, a sustained drop below $2.50 should pave the way for extra pullbacks to, initially, the June low near $2.15 per MMBtu. (FXStreet) Silver meets with some supply and erodes a part of the overnight gains to a three-week peak. Extremely overbought RSI on hourly charts prompts traders to lighten some of their bullish bets. Any subsequent slide might still be seen as a buying opportunity and is likely to remain limited. (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

2023-08-23 09:05

Market Update - 23 Aug 2023 The index extends the upside momentum to new tops. The Dollar remains bid ahead of the Jackson Hole event. Weekly MBA report, flash PMIs, housing data next on tap. The greenback extends its march north and reaches new two-month peaks around 103.70 when tracked by the USD Index (DXY). (FXStreet) USD/CAD extends gains as an effect of the drop in Crude oil price. US PMI data and Canada Retail Sales could give fresh insights into both economies. US Dollar Index (USD) shows resilience despite the drop in US Treasury yields. (FXStreet) EUR/JPY drifts lower for the second straight day and drops to a two-week trough on Wednesday. The dismal German PMIs weigh heavily on the shared currency and exert pressure on the cross. Looming recession risk, intervention fears benefit the JPY and also contribute to the offered tone. (FXStreet) EUR/GBP drifts lower for the second straight day and drops to a one-year low on Wednesday. The disappointing German PMIs reaffirm bets for the ECB rate hike pause and exert pressure. Bets for more rate hikes by BoE support prospects for a further near-term depreciating move. (FXStreet) USD/JPY currently trades near 145.62, losing 0.19% on the day. The immediate resistance level for USD/JPY appears at 145.85; the initial contention is located at 145.30. The Relative Strength Index (RSI) stands in bearish territory below 50. (FXStreet) EUR/USD trades higher around 1.0860 due to softer US Dollar Index (DXY). Traders adopt a cautious stance ahead of the releases of PMIs data. US bond yields and downbeat US housing data weaken the Greenback. (FXStreet) USD/CHF fades bounce off 100-SMA as traders await US S&P Global PMIs for August. Fortnight-old ascending triangle restricts immediate moves of Swiss Franc pair. Steady RSI, failure to defend recovery from key SMA lure pair sellers. 200-SMA acts as additional check for bears; buyers need validation from “Golden Fibonacci Ratio”. (FXStreet) USD/RUB holds above the 94.50 area in the Asian session. Russian President Vladimir Putin said that inflationary risks were increasing. Putin said Russia has surpassed Germany to become the world’s top five largest economies. Investors will monitor US PMI, the Federal Reserve (Fed) annual economic symposium at Jackson Hole. (FXStreet) AUD/USD edges higher amid four-day winning streak, reverses pullback from intraday top of late. China-linked optimism, softer Treasury bond yields underpin Aussie pair’s rebound despite downbeat Australia PMI. Cautious optimism adds strength to recovery moves toward May’s low. Upbeat prints of US S&P Global PMIs, one-month-old descending resistance line can challenge AUD/USD rebound. (FXStreet) NZD/USD pierces 10-DMA hurdle amid nearly oversold RSI, ignores mixed NZ Retail Sales details. Kiwi bulls need to cross 0.5980-85 resistance region to retake control. US S&P Global PMI for August also need to back the recovery moves within short-term falling wedge. (FXStreet) Tuesday’s decline in prices of natural gas was in tandem with shrinking open interest, which removes strength from prospects for further decline in the very near term at least. So far, the $2.50 region per MMBtu keeps holding the downside for the time being. (FXStreet) Gold price gains positive traction for the third successive day on Wednesday. Retreating US bond yields undermines the US Dollar and lends some support. China's economic woes further boost demand for the safe-haven XAU/USD. Eyes global PMIs for some impetus ahead of the Jackson Hole Symposium. (FXStreet) Silver scales higher for the fifth straight day and jumps to a nearly three-week high on Wednesday. A slightly overbought RSI on hourly charts warrants some caution before placing fresh bullish bets. Any meaningful corrective decline might now be seen as a buying opportunity and remain limited. (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

2023-08-22 09:38

Market Update - 22 Aug 2023 GBP/JPY corrects from a fresh multi-year peak and is pressured by reviving demand for the JPY. The yield on the benchmark 10-year JGB climbs to a nine-year high and lends support to the JPY. The divergent BoJ-BoE monetary policy stance warrants caution for aggressive bearish traders. (FXStreet) Euro looks to consolidate the move past 1.0900 vs. the US Dollar. Stocks in Europe extend the positive start of the week. EUR/USD briefly climbs to four-day highs around 1.0930. The USD Index (DXY) puts the 103.00 region to the test. EMU Current Account surplus widens in June. Fedspeak and housing data will be next on tap in the US. (FXStreet) USD/JPY trades sideways around 145.80 on JGB yields. The 146.00 level emerges as the barrier, following the monthly high. USD/JPY could face immediate support around nine-day EMA. (FXStreet) The index moves lower and approaches 103.00. US yields maintain the march north unabated. Fedspeak, housing data will take centre stage later on Tuesday. The greenback, in terms of the USD Index (DXY), grinds lower and puts the 103.00 region to the test on turnaround Tuesday. (FXStreet) USD/CAD struggles to gain and holds below the mid 1.3500s in the early European session. The pair holds below the 50-hour EMA; the Relative Strength Index (RSI) stands below 50. The critical support level is located at 1.3495-1.3510 region; the immediate resistance level is seen at 1.3575. (FXStreet) GBP/USD pair posts a modest gain near 1.2770, up 0.11% on the day. GBP/USD holds above the 50- and 100-hour EMA; the Relative Strength Index (RSI) supports the buyers. The immediate resistance level is seen at 1.2780-1.2785 region; 1.2740 acts as an initial support level. (FXStreet) EUR/GBP gains ground around 0.8543, up 0.02% for the day. The German Buba Monthly Report revealed that inflation could stay above the central bank's target for longer. Traders expect the Bank of England (BoE) to raise a 25 basis point (bps) rate to 5.50% in the September meeting. The Eurozone/UK PMI data, ECB's President Lagarde speech will be in focus. (FXStreet) USD/CHF takes offers to extend week-start reversal from 1.5-month high. U-turn from multi-month-old resistance line, downside break of immediate rising trend line favor Swiss Franc pair sellers. 200-SMA lures short-term sellers; bulls need validation from 0.8830. (FXStreet) NZD/USD clings to mild gains defends late Monday’s rebound from YTD low. Upside break of two-week-old descending resistance line, bullish MACD signals favor Kiwi bulls. 50-SMA, monthly trend line resistance prod pair buyers. Double bottoms around 0.5900 challenge NZD/USD bears from retaking control. (FXStreet) AUD/USD gains some follow-through positive traction and climbs to a multi-day top on Tuesday. A recovery in the risk sentiment, retreating US bond yields weigh on the USD and lend support. Hawkish Fed expectations to limit the USD losses and cap the pair amid China’s economic woes. (FXStreet) USD/TRY renews the all-time high despite softer US Dollar. CBRT’s struggle to tame inflation joins challenges to Fed policy pivot concerns to weigh on Turkish Lira. Multi-year high yields, China-inflicted risk-off mood also underpin USD/TRY advances. Second-tier catalysts may entertain intraday, CBRT rate hike, Fed Chair Powell’s speech at Jackson Hole eyed. (FXStreet) USD/IDR holds positive ground near 15,325 amid higher US Treasury bond yields and the stronger USD. Bank Indonesia (BI) is expected to maintain its benchmark interest rate at 5.75% on Thursday. The uncertainty in the Chinese economy will be a burden on Indonesia's growth. Investors will monitor BI rate decisions, Federal Reserve (Fed) Chair Jerome Powell’s speech. (FXStreet) USD/INR is seen consolidating in a narrow trading band above the 83.00 mark on Tuesday. The fundamental and technical setup supports prospects for a further appreciating move. Any meaningful corrective slide might be seen as a buying opportunity and remain limited. (FXStreet) Monday’s marked pullback in WTI prices was accompanied by shrinking open interest and volume. Against that, the likelihood of a deeper retracement seems not favoured in the very near term. In the meantime, bouts of weakness are expected to meet contention around monthly lows in the sub-$79.00 region. (FXStreet) Gold prices kicked off the week in a positive mood, just below the $1900 mark per troy ounce. The uptick, however, was amidst a small drop in open interest and removes some strength from further recovery in the very near term. That said, the commodity might enter a consolidative phase around current levels for the time being. (FXStreet) Silver pauses a three-day-old ascending trend near the 38.2% Fibo. resistance. The technical setup supports prospects for a further near-term appreciating move. Any meaningful dip could be seen as a buying opportunity near the 23.00 mark. (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