2023-05-19 09:26

Market Update - 19 May 2023 USD/CHF clings to mild losses as bulls take a breather at five-week high. Market’s anxiety ahead of key risk events underpins Swiss Franc demand. Fed’s Powell need to defend hawkish bias to favor US Dollar bulls. US President Biden has tough challenge of extending debt limit. (FXStreet) USD/CAD sticks to mild losses amid sluggish markets ahead of key events. US Dollar struggles to cheer hawkish Fed bets ahead of Powell’s speech. WTI crude oil braces for the first weekly gain in five around $72.50 amid market’s cautious optimism. US-China fears, concerns about US debt ceiling prod Loonie pair buyers even as Fed versus BoC divergence regains attention. (FXStreet) AUD/USD gains some positive traction amid a modest USD pullback from a two-month high. A positive risk tone prompts some USD profit-taking and benefits the risk-sensitive Aussie. Hawkish Fed expectations and the US debt ceiling optimism could help limit the USD losses. Investors look forward to Fed Chair Jerome Powell’s speech for some meaningful impetus. (FXStreet) GBP/USD looks vulnerable above the immediate support of 1.2390 as the USD index is eyeing more upside. Fed’s Powell is expected to deliver interest rate guidance for June’s monetary policy meeting. GBP/USD has delivered a breakdown of the Head and Shoulder chart pattern. (FXStreet) USD/JPY snaps six-day uptrend at the highest levels since November 2022, struggles to defend Yen buyers of late. Short-term support lines, previous resistance from March challenge pair sellers. Pair buyers may witness bumpy road unless crossing 140.00. (FXStreet) The index advances further and flirts with tops near 103.60. Optimism around a potential debt ceiling deal remains in place. Fedspeak, Chief Powell take centre stage across the pond on Friday. The greenback, when tracked by the USD Index (DXY), maintains the bid bias well and sound in the 103.60 region at the end of the week. (FXStreet) GBP/JPY has slipped sharply below 172.00 amid a surprise jump in Japan’s inflation. Higher-than-projected Japan’s inflation numbers won’t impact BoJ’s prolonged ultra-dovish policy stance. Investors are anticipating that the BoE would not bring down inflation to half by the end of the year. (FXStreet) EUR/USD bears attack two-month-old horizontal support amid the oversold RSI conditions. 13-day-old previous support line, bearish MACD signals challenge corrective bounce of Euro pair. Yearly lows will be in danger on 1.0730 break while recovery remains elusive below 1.0900. (FXStreet) USD/MXN has shown recovery from 17.70 amid strength in the USD Index. Fed Powell is expected to deliver interest rate guidance for June’s monetary policy meeting. Banxico decided to keep the interest rate policy steady after 15 consecutive interest rate hikes in the past two years. (FXStreet) USD/CNH marks yearly peak reversal while poking three-day uptrend. China President Xi endures friendship with Central Asian leaders, advocates for stable, wealthy region. US Dollar struggles to defend latest gains amid fresh challenges for debt ceiling deal, likely US-China tension. Cautious mood ahead of Fed Chair Powell’s speech also tease USD/CNH bears. (FXStreet) USD/INR clings to mild gains around the highest levels in two months, retreats of late. Broad US Dollar strength weighs on Indian Rupee despite latest pullback in greenback. Upbeat Oil price, cautious mood also prods USD/INR bulls at multi-day peak. Fed Chair Powell’s speech, US President Biden’s announcements on debt ceiling extension eyed for clear directions. (FXStreet) NZD/USD has sensed selling interest above 0.6240 as the focus has shifted to Fed Powell’s speech. The overall market mood is still upbeat as chances for US Treasury default have trimmed dramatically. The RBNZ is expected to hike interest rates by a final quarter point to 5.50% next week. (FXStreet) Thursday’s negative price action in WTI was accompanied by rising open interest and declining volume. Against that, the commodity appears poised to keep the weekly consolidative mood in the very near term at least. So far, the $70.00 mark per barrel seems quite a decent contention area. (FXStreet) Natural Gas price retreats from the highest levels in five weeks, pares the biggest daily jump in seven months. Overbought RSI, 4.5-month-old horizontal area challenge XNG/USD bulls. 100-DMA, April’s top can restrict pullback moves, Natural Gas buyers remain hopeful beyond $2.50. (FXStreet) Gold prices retreated for the third session in a row on Thursday. The daily downtick came on the back of shrinking open interest, which is suggestive that a deeper decline appears out of favour for the time being. So far, the yellow metal appears to have met some initial contention around the $1950 region per ounce troy. (FXStreet) Silver stages a goodish rebound from over a one-and-half-month low touched on Thursday. The technical setup favours bears and warrants caution before positioning for further gains. A sustained strength beyond the $25.30-40 region is needed to negate the negative outlook. (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.

2023-05-18 08:59

Market Update - 18 May 2023 EUR/USD adds to the weekly decline near 1.0800. ECB’s De Guindos leaves the door open to extra rate hikes. President C. Lagarde speaks later in the session. Further selling pressure continues to hurt the European currency and forces EUR/USD to recede further and trade at shouting distance from the key barrier at 1.0800 the figure on Thursday. (FXStreet) USD/JPY retreats from over a two-week high touched on Thursday amid some profit-taking. The downside remains cushioned amid the prevalent bullish sentiment surrounding the USD. The Fed-BoJ policy divergence favours bullish traders and supports prospects for further gains. (FXStreet) GBP/USD is showing a lacklustre performance below 1.2500 amid the absence of a critical trigger. Market sentiment is positive as fears of catastrophic US default have trimmed sharply. UK Hunt’s promise of bringing down higher taxes to reduce pressure of higher inflation households could induce retail demand. (FXStreet) AUD/USD has witnessed selling pressure after a recovery move to near 0.6650 as the USD Index has rebounded. The catastrophic impact of the US Treasury default could dampen the leadership position and the credibility of the United States economy. Cooling down Australian tight labor market conditions are expected to force the Reserve Bank of Australia (RBA) to return to an unchanged policy stance. AUD/USD’s upside is capped from April 03 high around 0.6793 while the downside is restricted from March 07 low around 0.6580. (FXStreet) The index extends the weekly recovery around the 103.00 zone. The still unsolved debt ceiling remains in centre stage. Weekly Claims, Philly Fed index, Fedspeak next on tap. The USD Index (DXY), which tracks the greenback vs. a basket of its main competitors, keeps the buying interest well and sound near the 103.00 region on Thursday. (FXStreet) USD/CAD regains positive traction on Thursday and draws support from sustained USD buying. A modest downtick in Oil prices undermines the Loonie and contributes to the intraday uptick. The fundamental backdrop favours bullish traders and supports prospects for additional gains. (FXStreet) USD/CHF struggles to gain any meaningful traction and remains below the 0.9000 mark. The downside remains cushioned amid the underlying bullish sentiment around the USD. Worries about a global economic slowdown benefit the safe-haven CHF and cap the upside. (FXStreet) AUD/NZD flirts with weekly low as bears prod five-month-old ascending trend line. Australia Employment Change slumps, Unemployment Rate rise in April while NZ budget appears optimistic. Downbeat oscillators, failure to cross key DMAs favor AUD/NZD sellers. Six-week-old ascending support line, New Zealand budget may prod the bears. (FXStreet) NZD/USD remains on the front foot around intraday high inside weekly rising wedge. Gradually improving RSI conditions suggest further grinding of Kiwi pair towards the north. 200-HMA, fortnight-old horizontal hurdle challenge NZD/USD bulls. Clear break of 0.6240 can recall sellers targeting monthly low. (FXStreet) AUD/JPY remains pressured around intraday low after easing from eight-day top. Australia employment report, Japan trade numbers for April prod the cross-currency pair buyers. Qualitative catalysts will be the key for direction due to pair’s risk-barometer status, light calendar. (FXStreet) USD/INR has faced stiff barricades above 82.50 as market sentiment has improved. The Indian Rupee is expected to remain under pressure as oil prices have recovered sharply. USD/INR is marching towards the downward-sloping trendline of the Symmetrical Triangle pattern plotted from 83.43. (FXStreet) USD/MXN has shifted its auction comfortable above 17.60 amid a recovery in the USD Index. A failure in the raise of US debt-ceiling could provide catastrophic effects on the US economy. Banxico is expected to keep the interest rate policy unchanged. (FXStreet) WTI crude oil consolidates the biggest daily gains in two weeks around $72.50. Nearly overbought RSI, failure to remain firmer past $73.30 lures Oil bears. 100-SMA, resistance-turned-support and bullish MACD signals challenge WTI bears. 200-SMA appears the key upside hurdle, Oil bears need validation from $64.30. (FXStreet) Prices of the natural gas charted an inconclusive session on Wednesday. The daily price action was on the back of a small uptick in open interest and declining volume, exposing further consolidation for the time being. In the meantime, bouts of weakness appear so far contained by the $2.00 region per MMBtu. (FXStreet) Gold price prints corrective bounce from three-week low to snap two-day losing streak. Retreat in yields, market’s cautious mood allows XAU/USD to lick its wounds. US Dollar’s struggle with 100-DMA amid Target Corp-linked markets fears prod Gold sellers. Convergence of 50-HMA, previous support line limited immediate upside with eyes on US debt limit, Fed news. (FXStreet) Silver price fades bounce off seven-week low, sidelined of late. Doji candlestick around 100-EMA support, nearly oversold RSI (14) line lure XAG/USD buyers. 50-EMA, bearish MACD signals cap Silver price recovery. (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.

2023-05-17 09:04

Market Update - 17 May 2023 EUR/USD has faced selling interest after a short-lived pullback to near 1.0873. A mild expansion is US Retail Sales is insufficient to impact expectations for a steady monetary policy by the Federal Reserve. The street is anticipating more than one interest rate hike from European Central Bank. EUR/USD has dropped below the 38.2% Fibonacci retracement at 1.0876. (FXStreet) USD/CHF picks up bids to refresh intraday high, extends previous recovery. Upbeat oscillators, sustained trading beyond 200-HMA favor Swiss Franc sellers. One-month-old descending resistance line, nearly overbought RSI conditions prod pair buyers. Sellers need validation from the fortnight-long ascending support line. (FXStreet) The index extends the bid bias near 103.00 on Wednesday. The debt ceiling issue remains in centre stage as driver of sentiment. Mortgage Applications, housing data next on tap in the docket. The greenback, in terms of the USD Index (DXY), adds to Tuesday’s gains and revisits the area of multi-week highs in the 102.80/90 region on Wednesday. (FXStreet) USD/JPY retreats from intraday high, stays sluggish around two-week top, after strong Japan GDP growth. Hawkish Fed bets, upbeat US data favor Yen pair buyers. US policymakers appear optimistic about avoiding default after the latest debt ceiling talks. Second-tier US, Japan data eyed for intraday clues, risk catalysts are the key for clear directions. (FXStreet) GBP/USD stays pressured after retreating from weekly top. Unimpressive UK employment figures contrast with positive surprise from US data to prod Pound Sterling buyers. BoE, Fed officials cite inflation, employment numbers to defend hawkish plays. Easing fears of US default joins hopes of witnessing upbeat comments from BoE Governor Bailey to challenge Cable bears. (FXStreet) USD/CAD is eyeing to reclaim the 1.3500 resistance amid a solid recovery in the USD Index. The postponement of US debt ceiling issues till the weekend has weighed on US Treasury yields. The oil price has dropped sharply as investors are worried about deepening fears of a US recession. (FXStreet) AUD/USD reverses from intraday high amid fresh challenges to sentiment. Australia cancels quad meeting on Biden’s change of schedule. Aussie Wage Price Index remains unchanged on QoQ, improves on YoY. US policymakers appear hopes of avoiding default but lack of details raise doubts on optimism. (FXStreet) EUR/GBP has climbed sharply above 0.8700 as the BoE is expected to pause its rate-hiking spree ahead. Downbeat UK Employment data adds to factors advocating for a pause in the policy-tightening spell by the BoE. ECB Lagarde already confirmed that more than one interest rate hikes are in pipeline. (FXStreet) GBP/JPY defends the previous day’s retreat from one-week high, retreats on upbeat Japan Q1 GDP. U-turn from monthly resistance line directs cross-currency pair towards 170.00 support confluence. Bears need validation from 200-SMA and BoE Governor Bailey. (FXStreet) USD/INR struggles for clear directions after snapping three-day uptrend the previous day. One-month-old horizontal region, ascending trend line from May 07 limit immediate moves of Indian Rupee pair. Upbeat RSI (14) suggests continuation of northward grind; 200-SMA acts as the last defense of USD/INR bulls. (FXStreet) NZD/USD retreats from intraday high but prints mid gains as risk dwindles. Doubts about US policymakers’ optimism for debt ceiling extension, hawkish Fed talks and upbeat data weigh on Kiwi pair. Positive expectations from New Zealand budget allow NZD/USD to grind higher amid light calendar. (FXStreet) Prices of the WTI appears to have moved into a consolidative phase so far this week. Tuesday’s negative price action was accompanied by shrinking open interest and volume and is indicative that the continuation of the downtrend looks out of favour for the time being. So far, the $70.00 mark per barrel should act as an initial contention zone. (FXStreet) Tuesday’s marked retracement in gold prices was on the back of diminishing open interest and suggests that extra weakness seems unlikely for the time being. The commodity, in the meantime, is expected to meet the next support of note around $1970, where coincides lows seen in the second half of April and the temporary 55-day SMA. (FXStreet) Silver consolidates the overnight slide to its lowest level since early April. The setup favours bearish traders and supports prospects for further losses. Any attempted recovery is likely to remain capped near the $24.25-30 area. Silver enters a bearish consolidation phase on Wednesday and oscillates in a narrow trading band around the $23.70-$23.75 area, just above its lowest level since April 3 touched the previous day. (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.

2023-05-16 10:17

Market Update - 16 May 2023 EUR/USD is struggling in extending its recovery above 1.0880 as the USD Index has made a recovery. The expectations for a neutral policy stance by the Federal Reserve have jumped further as US labor market conditions have started easing. The street is mixed over the interest rate guidance for the European Central Bank as the central bank seems far from the interest rate peak. EUR/USD is making efforts for shifting the auction above the 38.2% Fibonacci retracement at 1.0876. (FXStreet) USD/JPY edges lower on Tuesday and snaps a three-day winning streak to over a one-week high. Looming recession risks benefit the safe-haven JPY and exert downward pressure on the major. The Fed-BoJ policy divergence to limit losses as traders look forward to the US Retail Sales data. (FXStreet) GBP/USD takes offers to refresh intraday low, reverses week-start rebound from a fortnight low. UK Claimant Count Change rise for April, ILO Unemployment Rate also increase for three months to March. BoE’s Pill highlights inflation woes to defend hawkish monetary policy. US Retail Sales for April, policymakers’ efforts to avoid debt payment default will be the key to follow for fresh impulse. (FXStreet) The index trades in an inconclusive fashion near 102.40. US yields show no clear direction so far on Tuesday. US Retail Sales, NAHB Index, Fedspeak next on tap. The greenback, in terms of the USD Index (DXY), navigates a tight range around the 102.40 zone on turnaround Tuesday. (FXStreet) AUD/USD takes offers to renew intraday low, reverses the week-start rebound. Market sentiment worsens as US policymakers jostle about the debt ceiling issue. Softer China data, RBA’s policymakers’ hesitance to defend the latest hawkish surprise favor Aussie pair buyers. US Retail Sales, debt ceiling talks will be crucial for clear directions ahead of Australian Wage Price Index, employment numbers. (FXStreet) USD/CAD licks its wounds after positing the biggest daily loss in a week. WTI crude oil struggles to cheer US SPR news, supply crunch fears amid downbeat EIA report. US Dollar remains pressured on softer data, mixed Fedspeak and fears of US default. BoC CPI, US Retail Sales will decorate calendar, US debt ceiling negotiations are the key for Loonie pair traders. (FXStreet) USD/CHF retreats from intraday high, stays defensive after reversing from two-week top the previous day. Market sentiment turns sluggish as traders await US debt ceiling talks, Retail Sales data. Recently downbeat US data, mixed Fedspeak favor Swiss Franc buyers. (FXStreet) EUR/GBP gains some positive traction on Tuesday, albeit struggles to capitalize on the strength. The immediate market reaction to softer UK jobs data fades rather quickly amid a weaker USD. The German ZEW survey, Eurozone GDP print fail to impress the Euro bulls or boost to the cross. (FXStreet) NZD/USD gains traction for the second successive day, though the upside remains limited. Sliding US bond yields keeps the USD bulls on the defensive and lends support to the major. Looming recession risks, hawkish Fed expectations to limit the USD losses and cap the pair. (FXStreet) USD/INR prints the first daily loss in four, retreats from 1.5-month high. Softer India inflation figures, Fed’s dovish hike allow RBI to defend current inaction. WTI crude oil retreat, downbeat US data and mixed Fedspeak allows Indian Rupee to regain upside momentum. US debt ceiling talks, Retail Sales in the spotlight for fresh impulse. (FXStreet) Monday’s decent gains in prices of the WTI were amidst shrinking open interest and a small increase in volume and is indicative that the continuation of the rebound seems out of favour in the very near term. That said, the price action around the commodity could face some near-term consolidation around the $70.00 region for the time being. (FXStreet) Prices of the natural gas rose for the second session in a row on Monday. The improvement in the price action came amidst diminishing open interest and volume and is indicative that extra gains lack conviction for the time being. So far, the commodity’s upside remains capped by the $2.50 region per MMBtu. (FXStreet) Gold price takes offers to reverse the week-start corrective bounce, renews intraday low of late. XAU/USD drops as US Dollar picks up bids amid market’s anxiety ahead of US Retail Sales, debt ceiling talks. Downbeat China data, softer yields also weigh on the Gold price on a key day. (FXStreet) Silver drops to a multi-week low, though finds some support near the 38.2% Fibo. level. The technical setup favours bearish traders and supports prospects for deeper losses. A sustained strength beyond the $24.20-30 area is needed to negate the negative 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.

2023-05-15 09:40

Market Update - 15 May 2023 EUR/USD bears keep the reins at the lowest levels in five weeks. Clear downside break of 50-DMA, multi-day-old ascending trend line favors Euro bears. Mixed oscillators suggest limited downside room and highlight 100-DMA as the key support. Recovery remains elusive below 1.0950, rising trend line from early February appears the key upside hurdle. (FXStreet) USD/JPY seesaws near the highest level in a week, prints three-day uptrend. Yields grind higher amid US debt ceiling and banking woes, as well as hawkish Fed talks. BOJ’s Ueda defends easy money policy, Japan PM Kishida to oder assessment on wage outlook by government and BoJ. Softer Japan PPI, unimpressive US inflation signals fail to entertain Yen pair traders. (FXStreet) GBP/USD has moved confidently above 1.2460 as the risk-off impulse is fading away. The USD Index has sensed a loss in the upside momentum as the Fed is expected to pause its rate-hiking spell ahead. UK Prime Minister Rishi Sunak might miss his pledge of halving UK inflation by the end of CY2023. (FXStreet) AUD/USD gains strong positive traction on Monday and snaps a two-day losing streak. A positive risk tone prompts some USD selling and provides a goodish lift to the major. The mixed fundamental backdrop warrants some caution for aggressive bullish traders. (FXStreet) The index gives away gains following new highs near 102.80. US yields start the trading week on a positive foot. NY Empire State Index, TIC Flows, Fedspeak next on tap. The USD Index (DXY), which gauges the greenback vs. a basket of its main competitors, trades slightly on the defensive after hitting new 5-week highs around 102.75 on Monday. (FXStreet) USD/CAD is struggling for decisive action as investors are awaiting Canada’s inflation for further guidance. Canada’s core and headline inflation are seen softening to 3.9% and 3.7% respectively. USD/CAD is marching towards the downward-sloping trendline plotted from 1.3862. (FXStreet) USD/CHF is approaching the psychological resistance of 0.9000 amid deepening concerns over US debt-ceiling issues. If situation of default in obligated payments by the US Treasury comes across, its long-term credibility will get impacted dramatically. The restrictive monetary policy approach by the SNB is weighing effectively on inflationary pressures. (FXStreet) EUR/GBP reverses an intraday dip to the 0.8700 mark, albeit lacks follow-through buying. The BoE’s less hawkish outlook undermines the GBP and acts as a tailwind for the cross. The mixed comments by ECB policymakers warrant caution for aggressive bullish traders. (FXStreet) NZD/USD recovers from three-week-old horizontal support area to snap two-day downtrend. Oversold RSI (14) line favors corrective bounce but convergence of 200-SMA, 50% Fibonacci retracement guards immediate upside. Multiple hurdles toward the north, bearish MACD signals prod Kiwi pair buyers. (FXStreet) USD/INR retreats after refreshing three-week high, prods two-day winning streak. Upbeat oscillators, sustained break of 100-DMA favors Indian Rupee bears.61.8% Fibonacci retracement, six-week-old descending resistance line restrict immediate upside. USD/INR buyers remain hopeful above 200-DMA; two-month-old previous resistance line adds to the downside filters. (FXStreet) USD/TRY clings to mild gains after retreating from all-time high. Turkish elections fail to provide any clear results even if President Erdogan appears slightly ahead. Mixed sentiment, cautious mood ahead of May 28 runoff elections prod Turkish Lira bears. US debt ceiling updates, US Retail Sales and Fed Chair Powell’s speech eyed ahead of May 28 Presidential Vote. (FXStreet) USD/CNH seesaws around the highest levels in nine weeks, prods four-day uptrend. US Dollar struggles to defend the biggest weekly gain since September 2022 as US policymakers appear hopeful of avoiding default. PBOC keeps one-year MLF rate unchanged at 2.75%. US debt ceiling talks, China data dump will be crucial to watch for clear directions. (FXStreet) Prices of the barrel of the WTI dropped for the third session in a row at the end of last week. The downtick, however, was on the back of declining open interest and volume and is suggestive that further retracements appear out of table in the very near term. Occasional bullish attempts should face initial hurdle at the weekly high of $73.83 (May 10). (FXStreet) Natural Gas cheers upside break of two-month-old resistance at a fortnight high. Convergence of 50-day EMA, 38.2% Fibonacci retracement of March-April downside appears a tough nut to crack for XNG/USD bulls. Ascending support line from May 05 adds to the downside filters for the Natural Gas price. (FXStreet) Gold price clings to mild gains during the first positive day in three. Corrective bounce in market sentiment adds strength to recovery from $2,010 support confluence. Hopes of US debt ceiling extension, absence of major risk-negative headlines keep XAU/USD on intraday buyers’ radar. Gold buyers need to gain validation from US default updates, banking news and US Retail Sales. (FXStreet) Silver price licks its wounds at the lowest levels in six weeks. Downbeat RSI (14) allows 50-DMA to challenge XAG/USD bears. Horizontal hurdle from early 2023, 21-DMA guard recovery moves. Silver price (XAG/USD) struggles to defend the latest corrective from a 1.5-month low near $26.00 amid early Monday morning in Europe. (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.

2023-05-12 09:24

Market Update - 11 May 2023 EUR/USD regains some balance and rebounds from 1.0900. The greenback appears slightly offered following recent strength. Investors’ attention will be on the flash US Consumer Sentiment. (FXStreet) GBP/USD picks up bids to pare BoE induced losses after upbeat UK growth, activity data. UK Q1 GDP matches downbeat market forecasts on QoQ and YoY basis, per preliminary estimations. US Dollar consolidates Thursday’s gains ahead more inflation clues. Hopes of avoiding US default, absence of major disappointment from banks favor corrective pullback. (FXStreet) USD/CAD clings to mild losses near one-week high after rising the most on a day since early March. Downbeat Oil price, firmer US Dollar previously favored Loonie pair buyers amid risk-off mood. Market’s consolidation fails to inspire USD/CAD bears as WTI crude oil remains downbeat. (FXStreet) The upside momentum in the index loses traction on Friday. US yields appear on the defensive early in the European session. Flash Consumer Sentiment, Fed’s Bowman next on tap. The greenback, in terms of the USD Index (DXY), exchanges gains with losses around the 102.00 region, or weekly highs, on Friday. (FXStreet) USD/JPY remains confined in a narrow trading band through the Asian session on Friday. Reviving safe-haven demand benefits the JPY and acts as a headwind amid a softer USD. Traders now look to the Michigan US Consumer Sentiment Index for a fresh impetus. (FXStreet) NZD/USD drifts lower for the second successive day and dives to over a one-week low on Friday. Worries about a global economic slowdown continue to weigh heavily on the risk-sensitive Kiwi. A modest USD downtick lends support, though the fundamental backdrop favours bearish traders. (FXStreet) AUD/USD fades bounce off one-week low marked earlier in the day amid mixed sentiment. Hopes that Aussie budget will propel inflation and allow RBA to stay hawkish recently gained momentum. Expectations of China inflation recovery also made rounds; Aussie-China trade talks prod bears. Fears about US debt ceiling expiry, banking fallouts joins hawkish Fed talks to weigh on AUD/USD ahead of US data. (FXStreet) USD/INR retreats from three-week high while paring the biggest weekly gain in two months. Downbeat Oil price joins market’s reassessment of risk catalysts to trigger Indian Rupee bounce from multi-day low. India CPI, output data precedes US Michigan CSI and Inflation Expectation to decorate economic calendar. Comparatively more hawkish Fed, challenges to risk appetite favor USD/INR bulls. (FXStreet) Thursday’s daily decline in prices of the WTI came along declining open interest and volume, hinting at the idea that a deeper correction seems out of favour for the time being. On the upside, in the meantime, gains remain limited by the $74.00 region per barrel. (FXStreet) On Thursday, natural gas prices fell even lower. The move was prompted by growing open interest and dropping volume, which maintains the current broad consolidative theme for the time being. Meanwhile, the important $2.00 mark per MMBtu has been a significant support for the commodity thus far. (FXStreet) Gold price snaps two-week winning streak, slides beneath $2,030 confluence level. US debt ceiling talks, banking woes join hawkish Fed bets to propel US Dollar and weigh on XAU/USD. US policymakers will gather early next week to overcome default fears, Fed’s Powell also up for a speech. (FXStreet) Silver drifts lower for the third successive day and hits over a one-month low on Friday. The overnight breakthrough the $24.50-40 horizontal support favours bearish traders. Some follow-through selling below the 38.2% Fibo. will set the stage for deeper losses. (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.