2023-03-08 09:22

Market Update - 08 March 2023 USD/CHF remains sidelined after posting the biggest daily gains in five weeks. Clear upside break of 100-DMA joins momentum-positive oscillators to favor bulls. Monthly support line adds to the downside filters, 0.9440 holds the key to pair’s run-up towards 200-DMA. (FXStreet) EUR/USD remains depressed for the second consecutive day amid strong yields, renews three-month low of late. ECB policymakers defend hawkish bias but lack economic support to bolster Euro. Fed Chair Jerome Powell renews calls for 50 bps rate hike and propel yields, US Dollar. Eurozone Retail Sales, US ADP Employment Change act as additional catalysts to watch clear directions. (FXStreet) The index adds to Tuesday’s strong gains and approaches 106.00. Markets now price in a 50 bps rate hike at the March 22 event. ADP report, Powell’s testimony next on tap in the calendar. The greenback, in terms of the USD Index (DXY), maintains the bid tone well and sound and approaches the 106.00 zone on Wednesday. (FXStreet) USD/JPY touches a fresh YTD peak on Wednesday amid sustained USD buying interest. Rising bets for a 50 bps Fed rate hike in March, elevated US bond yields boost the USD. The risk-off mood lends some support to the safe-haven JPY and caps gains for the pair. (FXStreet) GBP/USD enters a bearish consolidation phase and oscillates in a range around the YTD low. Bets for more aggressive Fed rate hikes underpin the USD and act as a headwind for the pair. Recession risks favour the USD bulls and support prospects for additional losses for the major. (FXStreet) NZD/USD languishes near its lowest level since November amid sustained USD buying. The USD remains pinned near a multi-month top amid bets for aggressive Fed rate hikes. The prevalent risk-off environment further acts as a headwind for the risk-sensitive Kiwi. (FXStreet) AUD/USD picks up bids to pare the biggest daily loss in a month. Short-term support line joins oversold RSI (14) to trigger corrective rebound. Previous support line from February, 50-SMA restrict recovery moves. Multiple levels to prod the Aussie pair bears around 0.6540-20 region. (FXStreet) USD/MXN struggles to extend two-day rebound from multi-month low, sidelined of late. Failure to cross 50-EMA, one-month-old falling trend line recalls bears. One-week-long horizontal support area can restrict immediate downside. (FXStreet) USD/CAD has printed a fresh four-month high at 1.3774 as the risk-aversion theme has strengthened further. Federal Reserve Powell has confirmed that the risk of persistent inflation is real and a higher terminal rate is expected than prior. Bank of Canada might keep interest rates steady as announced earlier. USD/CAD is running higher with sheer momentum considering the bullish message from indicators and oscillators. (FXStreet) USD/INR has climbed to near 82.30 amid a strengthening risk-off mood. The demand for US government bonds has dropped dramatically, which has pushed the 10-year US Treasury yields above 4.0%. Fed’s Powell believes that the terminal rate is likely to be higher than earlier expected. (FXStreet) EUR/JPY has sensed selling pressure around 145.00 amid rising bets for the expansion of JGBs’s yields cap. BoJ Ueda has already conveyed that Japanese inflation is coming from international forces and is not growing domestically. A recovery in German Retail Sales might propel inflationary pressures. (FXStreet) Prices of the barrel of the WTI dropped markedly on Tuesday amidst increasing open interest and volume, suggesting that extra decline appears on the cards in the very near term. That said, a probable retracement to the area of 2023 lows near $72.00 remains on the table for the time being. (FXStreet) Tuesday’s uptick in prices of the natural gas was accompanied by rising open interest and a marked drop in volume. Against that, the commodity could embark on a consolidative phase at the time when appears supported by the $2.50 region per MMbtu. (FXStreet) Tuesday’s pronounced sell-off in gold prices was amidst increasing open interest and volume and opened the door to a deeper drop to, initially, the key $1800 zone per ounce troy, an area reinforced by the 100-day SMA. The loos of this zone could pave the way for a decline to the 200-day SMA, today at $1775. (FXStreet) Silver price takes offers to refresh multi-day low during three-day downtrend. Clear break of six-month-old support line, the key Fibonacci retracement level joins bearish MACD signals to favor XAG/USD sellers. 200-DMA, monthly resistance line add to the upside filters. (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.

2023-03-07 09:19

Market Update - 07 March 2023 EUR/USD is approaching 1.0700 as investors have shrugged off US recession fears. Federal Reserve’s Powell might wait for February’s data before delivering guidance on interest rates. European Central Bank’s Centeno sounds less hawkish despite renewed fears of high inflation in the Eurozone. EUR/USD is aiming higher amid a bullish momentum as the RSI (14) has shifted into the bullish range. (FXStreet) USD/JPY is oscillating around 136.00, downside looks favored amid the risk-on mood. An upbeat market mood has pushed the 10-year US Treasury yields below 3.96%. The BoJ is expected to remain dovish as current inflationary pressures in Japan are the outcome of international forces. (FXStreet) GBP/USD attracts some intraday selling following an early move up to a four-day peak. Recession fears, hawkish Fed expectations act as a tailwind for the USD and cap gains. Traders now keenly await Fed Chair Powell’s testimony before placing directional bets. (FXStreet) AUD/USD has failed to capitalize on the hawkish RBA policy. The RBA continued the 25 bps rate hike spree and pushed the OCR to 3.60%. Australia’s monthly CPI indicator suggests that inflation has peaked. (FXStreet) USD/CAD extends its sideways consolidative price moves through the early European session. Bullish Oil prices underpin the Loonie and act as a headwind amid a modest USD weakness. The downside remains cushioned ahead of Fed Chair Jerome Powell’s semi-annual testimony. (FXStreet) The USD Index (DXY), which gauges the greenback vs. a basket of its main rivals, exchanges gains with losses around 104.30 ahead of the opening bell in the old continent on turnaround Tuesday. (FXStreet) USD/CNH eases from a one-week high to pare the previous day’s gain. 100-DMA, support-turned-resistance from early February appears a tough nut to crack for bulls. Looming bear cross on MACD, steady RSI (14) hints at further grinding towards the previous resistance line. (FXStreet) NZD/USD regains positive traction on Tuesday, though any meaningful upside still seems elusive. A generally positive risk tone undermines the safe-haven USD and benefits the risk-sensitive Kiwi. The market focus remains on Fed Chair Jerome Powell’s semi-annual congressional testimony. (FXStreet) USD/MXN takes offers to reverse the week-start corrective bounce off multi-month low. Bearish MACD signals, sustained trading below 50-DMA keep sellers hopeful. Convergence of previous support line from November 2022, one-month-old descending trend line appears crucial hurdle towards the north. (FXStreet) USD/INR fades bounce off five-week low but struggles to gain momentum ahead of top-tier event. Cautious optimism, sluggish yield and mildly bid Oil price add to the Indian Rupee pair trader’s indecision. Fed Chair Jerome Powell’s Testimony eyed amid fears of dovish guidance versus mostly firmer yields. (FXStreet) AUD/NZD takes offers to refresh intraday low as RBA flashes downbeat signals. RBA announces 25 bps rate hikes, as expected, but talks surrounding inflation lures Aussie bears. US-China news, cautious optimism ahead of the top-tier data/events also weigh on the exotic pair. (FXStreet) AUD/JPY has slipped sharply below 91.30 as RBA continues the 25 bps rate hike spell for the fifth time. RBA Lowe has pushed the OCR to 3.60% to get competitive against stubborn inflation. A continuation of an expansionary monetary policy is expected from the BoJ ahead. (FXStreet) Prices of the barrel of WTI extended the rebound and reached the key $80.00 mark per barrel on Monday. The continuation of the uptrend was amidst diminishing open interest and volume and suggests that a sustainable move beyond this key resistance area (where coincides February and the so far March highs) is not favoured for the time being. (FXStreet) Monday’s negative price action in natural gas was on the back of shrinking open interest, which hints at the idea that a deeper decline is not favoured for the time being. The acute build in volume, however, reinforces the current bearish outlook for the commodity. On the upside, the $3.00 mark per MMBtu should offer decent resistance for the time being. (FXStreet) Gold prices started the week on the back foot and closed below the $1850 mark on Monday. The move was on the back of increasing open interest, which is indicative that further weakness could be waiting for the precious metal in the very near term. Against that, a potential drop and visit to the key $1800 area per ounce troy should remain in store for the time being. (FXStreet) Silver price retreats towards intraday low, defends previous day’s pullback from one-week high. One-week-old rising wedge bearish chart pattern joins downbeat MACD signals to favor sellers. Previous resistance line from early February lures XAG/USD bears. (FXStreet) Bitcoin prices (BTC/USD) stabilize after falling below the 20-day MA (moving average). Ethereum (ETH/USD) finds temporary support above $1,550 as bulls’ eye $1,600. Silvergate becomes the latest cryptocurrency firm to land in troubled waters. The digital-asset based bank falls victim to FTX contagion after announcing solvency concerns. (DailyFX) 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.

2023-03-06 09:35

Market Update - 06 March 2023 EUR/USD picks up bids to print mild gains while extending the previous weekly recovery. 100-SMA, one-month-old descending resistance line restrict immediate upside. Sluggish MACD signals join sustained trading below two-month-long horizontal hurdle, 200-SMA to keep bears hopeful. (FXStreet) USD/JPY drifts lower for the second successive day on Monday, albeit lacks follow-through. Retreating US bond yields keeps the USD bulls on the defensive and exerts some pressure. The divergent Fed-BoJ policy outlook limits losses ahead of this week’s key event/data risks. (FXStreet) GBP/USD oscillates in a narrow trading band through the early part of trading on Monday. Retreating US bond yields keeps the USD bulls on the defensive and lends some support. Brexit anxiety, recession fears hold back bulls from placing fresh bets and cap the upside. (FXStreet) AUD/USD fills a modest gap down opening on Monday, though lacks follow-through.A downtick in the US bond yields weighs on the USD and lends support to the major. Recession fears act as a headwind for the pair ahead of this week’s key event/data risks. (FXStreet) USD/CAD struggles to gain any meaningful traction and oscillates in a range on Monday. Retreating US bond yields keeps the USD bulls on the defensive and acts as a headwind. A modest downtick in Oil prices undermines the Loonie and lends support to the major. (FXStreet) USD/CHF picks up bids to pare the biggest daily loss in a month. Bearish MACD signals, 50-SMA challenge recovery moves after snapping two-week uptrend. One-month-old ascending support line, 100-SMA lures sellers during fresh declines. (FXStreet) The index vacillates around the 104.50 region on Monday. US yields lack traction following Friday’s marked pullback. Factory Orders, short-term bill auctions next on tap. The greenback, when gauged by the USD Index (DXY), alternates gains with losses in the mid-104.00s at the beginning of the week. (FXStreet) GBP/JPY picks up bids to pare intraday losses, mildly offered after three-week uptrend. 50-EMA, one-month-old ascending trend line restricts immediate downside. Sluggish oscillators channel buyers on their way to refresh 2023 top. (FXStreet) USD/MXN licks its wound near the lowest levels since April 2018. Mexican Peso marked the biggest weekly gains in seven months amid broad US Dollar declines. Key data/events eyed for clear directions, Fed Chair Powell needs to defend hawkish bias to avoid further USD fall. (FXStreet) NZD/USD fades bounce off three-month low, holds lower ground of late. Bearish MACD signals join failure to cross the convergence of 100-SMA, one-month-old resistance line to lure sellers. Fortnight-long horizontal support area restricts immediate downside ahead of February’s low. (FXStreet) USD/INR bounces off multi-day low to consolidate the first weekly loss in six. Convergence of 100-DMA, 23.6% Fibonacci retracement guards recovery moves. A 4.5-month-old symmetrical triangle advocates volatility; 200-DMA appears extra filter towards the south. (FXStreet) Prices of the WTI extended the weekly rebound on Friday. The move was in tandem with rising open interest and volume and suggests that further gains look likely in the very near term. The surpass of the key $80.00 mark per barrel should pave the way for a test of the February high at $80.57 (February 13) ahead of the so far 2023 peak at $82.60 (January 23). (FXStreet) Prices of the natural gas closed just above the key $3.00 marl for the first time since late January on Friday. The marked bounce was also amidst increasing open interest and volume and is indicative that further gains lie ahead in the very near term. That said, the next up barrier aligns at the Fibo retracement near the $3.20 level per MMBtu. (FXStreet) Friday’s strong uptick in gold prices was on the back of rising open interest and volume, leaving the door open to the continuation of the monthly rebound in the very near term. That said, the next target on the upside comes at the weekly high at $1890 per ounce troy (February 9). (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.

2023-03-03 09:45

Market Update - 03 March 2023 GBP/USD once again finds support near the 200-day SMA and regains positive traction on Friday. Retreating US bond yields prompts some selling around the USD, which is seen as lending support. Rising bets for additional rate hikes by the BoE and the Fed warrant caution for aggressive traders. (FXStreet) USD/JPY retreats from the YTD peak touched on Thursday amid a modest USD weakness. A softer risk tone benefits the safe-haven JPY and also contributes to the intraday decline. The divergent Fed-BoJ policy outlook could lend support and help limit any further losses. (FXStreet) The index gives away part of Thursday’s gains and returns to 104.70. The rally in US yields take a breather so far on Friday. ISM Non-Manufacturing, Services PMI, Fedspeak next on tap in the docket. The USD Index (DXY), which tracks the greenback vs. a basket of its main rivals, comes under some selling pressure and returns to the sub-105.00 area on Friday. (FXStreet) USD/CAD meets with a fresh supply on Friday and is pressured by a combination of factors. Bullish Oil prices underpin the Loonie and act as a headwind amid a modest USD weakness. Recession fears, hawkish Fed expectations should limit losses for the USD and lend support. (FXStreet) GBP/USD grinds near intraday high as it pokes immediate resistance line. Bearish MACD signals, 200-EMA challenge the recovery moves. Three-month-old ascending trend line restricts immediate downside as RSI shows receding bearish bias. (FXStreet) USD/CNH has refreshed its day low near 6.8900 as Caixin Services PMI performed better than anticipations. The US Dollar Index (DXY) is struggling to sustain above the immediate support of 104.80. A bear cross, represented by the 20-and 50-period EMAs at 6.9144, adds to the downside filters. (FXStreet) EUR/USD is looking to shift its auction profile above 1.0600 as the risk-off mood retreats. The 10-year US Treasury yields have slipped to 6.05%, indicating a recovery in the risk appetite. Eurozone Retail Sales might continue their declining trend ahead. (FXStreet) NZD/USD regains some positive traction on Friday amid a modest USD weakness. The upbeat Chinese data undermines the safe-haven buck and lends some support. Recession fears, hawkish Fed expectations to limit the USD losses and cap the pair. (FXStreet) AUD/USD grinds near intraday high, defends the first weekly gains in three. Bulls keep the reins amid hopes of US-China peace on trade, upbeat China data and mixed Aussie statistics. Fresh talks of Fed’s pivot trigger retreat in yields and propel Aussie pair. Markets remain dicey ahead of US ISM Services PMI, limiting AUD/USD moves. (FXStreet) USD/INR prints five-week losing streak as bears attack the lowest level in nearly a month. Hopes of robust economic recovery in India, hawkish RBI bets underpin INR strength. Fresh chatters surrounding Fed’s policy pivot weigh on prices. US ISM Services PMI should be eyed for intraday directions. (FXStreet) WTI crude oil price struggles around two-week high, eases from four-month-old resistance line of late. Recently firmer MACD signals, upbeat RSI (14) hints at the quote’s further upside, 100-DMA acts as additional resistance. WTI bears remain off the table unless the quote stays beyond one-week-old support line. (FXStreet) Prices of natural gas retreated marginally amidst diminishing open interest and volume on Thursday. So far, further consolidation appears likely around the $2.80 region in the very near term. The breakout of this theme faces the next hurdle at a Fibo retracement around $3.20 per MMBtu. (FXStreet) Gold price bulls come alive in a bullish reversal week. US Dollar retraced a bit despite surging US Treasury 10-year bond yields. ISM Services PMI release is still awaited for fresh impulse on XAU/USD. (FXStreet) Silver price clings to 200-DMA as buyers struggle to extend key trend line breakout. Looming bull cross on MACD, nearly oversold RSI conditions favor bullish bias. Previous resistance line from early February, 61.8% Fibonacci retracement level restricts immediate downside. (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.

2023-03-02 09:44

Market Update - 02 March 2023 USD/CAD gains some positive traction on Thursday, albeit lacks strong follow-through buying. An uptick in Crude Oil prices underpins the Loonie and keeps a lid o the intraday positive move. Hawkish Fed expectations, rising US bond yields boost the USD and continue to act as a tailwind. (FXStreet) GBP/USD meets with a fresh supply on Thursday amid a strong pickup in the USD demand. Hawkish Fed expectations continue to push the US bond yields higher and underpin the USD. A sustained break below the 200-day SMA is needed to support prospects for deeper losses. (FXStreet) The index leaves behind part of Wednesday’s marked pullback. US 2-year yields approach the key 5% level, nearly 6-year tops. Weekly Claims, FOMC Waller take centre stage later in the US docket. The greenback, in terms of the USD Index (DXY), manages to regain some balance and advances to the 104.80 region on Thursday. (FXStreet) USD/JPY catches fresh bids and climbs back closer to the YTD peak amid resurgent USD demand. Hawkish Fed expectations push the US bond yields higher and provide a fresh lift to the Greenback. The divergent Fed-BoJ policy outlook favours bullish traders and supports prospects for further gains. (FXStreet) EUR/USD extends pullback from one-week high, pares the biggest daily gains in a month. Strong US Treasury bond yields join risk-negative headlines to renew US Dollar demand. Upbeat German inflation, hawkish ECB rhetoric puts a floor under the Euro price. Flash readings of Eurozone HICP and CPI will precede ECB President Lagarde’s speech to entertain EUR/USD traders. (FXStreet) EUR/GBP is looking to reclaim the 0.8900 resistance as ECB looks set to deliver one more 50 bps rate hike. Apart from the German economy, Spain and France have also reported higher-than-anticipated inflation figures. The street is not considering the novel UK-EU deal as a critical driver for the Pound Sterling. (FXStreet) USD/CHF picks up bids to reverse the previous day’s losses. Sustained trading above the key Fibonacci retracement, upbeat oscillators join bullish chart pattern to favor buyers. Sellers have a bumpy road to face on their return, 0.9345 appears short-term key support. (FXStreet) AUD/USD takes offers to extend pullback from late February. Previous resistance line, weekly horizontal support can challenge Aussie pair bears amid descending RSI towards oversold territory. U-turn from immediate upside hurdle, bearish MACD signals keep sellers hopeful; bulls need validation from 200-HMA. (FXStreet) NZD/USD has printed a fresh day low at 0.6222 amid the risk-off mood. A mean reversion to near 50-EMA is offering a bargain buy to investors. The RSI (14) is expected to find a cushion around 40.00. (FXStreet) USD/TRY keeps poking the all-time high marked in February, grinds higher of late. US Dollar traces US Treasury bond yields to reverse week-start losses. Downbeat Turkish data, geopolitical tension and CBRT’s hesitance to raise rates keep buyers hopeful. Friday’s Turkish CPI, US ISM Services PMI appear crucial for clear directions. (FXStreet) USD/INR has displayed a sheer recovery to near 82.60 as hawkish Fed bets have fueled US yields. A formation of an Ascending Triangle indicates volatility contraction with a bullish bias. The 50-period EMA at 82.30 is likely to provide a cushion to the US Dollar bulls. (FXStreet) USD/CHF picks up bids to reverse the previous day’s losses. Sustained trading above the key Fibonacci retracement, upbeat oscillators join bullish chart pattern to favor buyers. Sellers have a bumpy road to face on their return, 0.9345 appears short-term key support. (FXStreet) WTI crude oil remains sidelined near two-week high after rising in the last two days. China data, policymakers’ comments suggest more energy demand from the world’s biggest commodity user. Fears of inflation, geopolitical concerns propel yields and challenge risk profile, as well as the Oil price. Downbeat inventories, US SPR issues keep sellers hopeful. (FXStreet) Prices of the natural gas extended the recovery above the $2.80 level on Wednesday. The uptick was on the back of rising open interest and volume, indicating that the continuation of this move appears favoured in the very near term. The next hurdle of note for the commodity now emerges at the $3.00 mark per MMBtu ahead of a Fibo retracement of the December-February drop near $3.20. (FXStreet) Gold price breaks out of descending parallel channel as market mood improves. US Dollar sell-off halted by rising US Treasury bond yields. ISM Services PMI release is still awaited for fresh impulse on XAU/USD. (FXStreet) Silver price snaps two-day winning streak, renews intraday low of late. Clear U-turn from 200-DMA, bearish MACD signals hint at XAG/USD’s further downside. Three-week-old descending resistance line, horizontal area from the last December also challenge Silver buyers. Six-month-long upward-sloping trend line can restrict XAG/USD downside amid nearly oversold RSI (14). (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.

2023-03-01 09:49

Market Update - 01 March 2023 USD/CAD meets with a fresh supply on Wednesday and is pressured by a combination of factors. Rising Crude Oil prices underpin the Loonie and weigh on the pair amid a sharp USD pullback. Looming recession risks, hawkish Fed expectations could limit the USD losses and lend support. (FXStreet) GBP/USD regains positive traction and draws support from a combination of factors. The upbeat Chinese PMIs boost investors’ confidence and weigh heavily on the USD. The Brexit optimism, BoE rate hike bets benefit the GBP and lend additional support. (FXStreet) The index keeps the erratic performance unchanged this week. US yields extend the rally across the curve on Wednesday. The ISM Manufacturing will take centre stage later in the NA session. The USD Index (DXY), which gauges the greenback vs. a basket of its main rival currencies, trades on the defensive well south of the 105.00 yardstick on Wednesday. (FXStreet) USD/JPY struggles to capitalize on a modest uptick on Wednesday and remains below the YTD top. The BoJ’s dovish outlook, weaker Japanese PMI undermine the JPY and continue to lend support. Hawkish Fed expectations, elevated US bond yields act as a tailwind for the USD and favour bulls. (FXStreet) EUR/USD begins March month on a positive footing after the biggest monthly fall since September 2022. Cautious optimism in the market allows US Dollar to wobble near multi-day higher. Strong inflation data from Spain, France contrasts with downbeat US statistics to also underpin recovery moves. Germany’s HICP, US PMIs will be crucial for intraday directions. (FXStreet) USD/CHF takes offers to renew intraday high even as risk-aversion prevails. US Dollar struggles to track upbeat yields amid strong China data, softer statistics at home. Downbeat Swiss GDP, hawkish Fed bets favored buyers the previous day. (FXStreet) NZD/USD gains strong positive traction and builds on the overnight bounce from the YTD low. The upbeat Chinese PMIs, a positive risk tone provide a goodish lift to the risk-sensitive Kiwi. Recession fears, hawkish Fed expectations act as a tailwind for the USD and could cap gains. (FXStreet) AUD/JPY recovers from two-week low after strong China activity data for February. Previous support line from January 19 joins bearish MACD signals, steady RSI (14) to challenge bulls. Fresh selling needs a clear break of 91.30 to aim for 50-DMA. (FXStreet) AUD/USD is struggling to extend recovery above 0.6760, upside looks favored amid the risk-on impulse. Federal Reserve might turn more hawkish if US ISM Manufacturing PMI delivers a surprise jump. A sense of relief has been observed by the Reserve Bank of Australia as inflation has softened significantly. AUD/USD looks failing to turn bullish despite a responsive buying move amid an Inverted Flag formation. (FXStreet) USD/INR has turned volatile as investors are discounting India’s weak GDP numbers. India’s Q3 GDP has slipped lower to 4.4% from 6.3% and 13.5% figures recorded in Q2 and Q1 respectively. Upbeat Caixin Manufacturing PMI has improved investors’ risk appetite. (FXStreet) USD/IDR remains mildly bid for the second consecutive day despite upbeat Indonesia Inflation. Indonesia Inflation and Core Inflation both grew more than expected in February. Upbeat yields challenge US Dollar’s retreat after the biggest monthly gains since September 2022. US PMIs, risk catalysts eyed for immediate directions, Fed talks will be the key. (FXStreet) WTI crude oil rises for the second consecutive day, renews intraday high of late. Strong China PMI data bolster upbeat expectations from the world’s largest commodity user. Higher OPEC+ supplies, talks of more Russian Oil floating un-bid challenge WTI bulls. Fears of higher rates, inflation also keep a tab on energy benchmark ahead of US PMIs, official Oil inventories. (FXStreet) The pronounced rebound in prices of the natural gas seems to have met some tough resistance near the $2.80 mark per MMBtu so far. Tuesday’s small gains were accompanied by shrinking open interest and volume, which hints at some consolidation in the short term ahead of a probable resumption of the downward bias. (FXStreet) Gold price breaks out of descending parallel channel as market mood improves. US Dollar was sold off on a mix of soft US data and improving Chinese PMI numbrs. ISM Manufacturing and Services PMI releases still awaited for fresh impulse on XAU/USD. (FXStreet) Silver price extends the previous day’s recovery from the lowest levels since early November 2022. Sustained break of 100-HMA, bullish MACD signals and ascending trend channel keep buyers hopeful. Overbought RSI conditions challenge XAG/USD run-up past $21.20 hurdle, 200-HMA act as additional upside filter. (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.