Month: April 2022

USD/INR is marching towards 76.40 as DXY strengthens on jumbo rate hike expectations. Shanghai’s reopening and supply concerns in Libya have pushed the oil prices higher. The political crisis in Libya has seized up the oil exports. The USD/INR pair has been bounced modestly in its early trade on Monday from...

FX Strategists at UOB Group Quek Ser Leang and Lee Sue Ann noted EUR/USD could still drop further in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that EUR ‘could drift lower to 1.0780’. We added, ‘last week’s low near 1.0755 is unlikely to come into the picture’. Our...

GBP/JPY has surpassed the resistance of 166.00 as the pound strengthens on higher CPI. Higher energy bills are widening Japan’s fiscal deficit. Japan’s National CPI is seen at 1.3% against the prior print of 0.9%. The GBP/JPY pair is witnessing a bullish open test-drive session on Tuesday amid broader...

AUD/USD is meeting a firm support area following the RBA minutes.  Bears lurking near a presumed resistance area through 0.74 the figure.  AUD/USD is meeting a dynamic trendline support line and the bulls are eyeing a 38.2% Fibonacci retracement and a higher 50% mean reversion towards 0.7420.  AUD/USD daily chart As illustrated,...

According to the analysts at Goldman Sachs, the People’s Bank of China (PBOC) will refrain from cutting the one-year and five-year Loan Prime Rates (LPR) on Wednesday. Key quotes “The PBOC seems concerned about “spillover effects” as other countries raised interest rates. For example, capital outflow from China.” “Also,...