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GBP/USD still seen between 1.3820 and 1.4020 – UOB

GBP/USD still seen between 1.3820 and 1.4020 – UOB

]In the opinion of FX Strategists at UOB Group, Cable remains expected to navigate within the 1.3820-1.4020 range for subsequent weeks. Key Quotes 24-hour view: “We highlighted yesterday GBP could ‘edge up to the 1.3980’ but we were…

Market News
Palladium Price Analysis: XPD/USD bulls attack $2,600 on the bumpy road to recovery

Palladium Price Analysis: XPD/USD bulls attack $2,600 on the bumpy road to recovery

Palladium gradually overcomes three-month low, up for second positive day. 50% Fibonacci retracement, 100-DMA guards immediate upside, multiple horizontal lines test the bulls afterward. Late March low, 61.8% Fibonacci retracement restrict short-term downside. Palladium (XPD/USD)…

Market News
Natural Gas Futures: A deeper pullback looks unlikely

Natural Gas Futures: A deeper pullback looks unlikely

In light of preliminary readings from CME Group for gas futures markets, traders scaled back their open interest positions by around 10.1K contracts at the start of the week, reaching the fourth consecutive daily drop.…

Market News
Silver Price Analysis: XAG/USD rebounds from two-month lows, lacks follow-through

Silver Price Analysis: XAG/USD rebounds from two-month lows, lacks follow-through

Silver battles $26 mark on the road to recovery. XAG/USD poised for deeper losses on a drop below $25.55. RSI recovers but still remains within the bearish zone. s Silver price (XAG/USD) has quickly pulled…

Market News
US Dollar Index looks to extend the rally above 92.00

US Dollar Index looks to extend the rally above 92.00

DXY alternates gains with losses around 92.30. US 10-year yields stay depressed near the 1.40% region. The Chicago Fed index, Fedspeak next on tap within the docket. The greenback starts the week in an inconclusive…

Market News
Natural Gas Futures: Probable consolidation near term

Natural Gas Futures: Probable consolidation near term

In light of advanced prints for gas futures markets, open interest dropped for the third straight session on Friday, this point by around 3.5K contracts. within the same direction, volume went down by around 94.8K…

Market News
Silver Price Analysis: XAG/USD clings to strong recovery gains, bearish bias intact

Silver Price Analysis: XAG/USD clings to strong recovery gains, bearish bias intact

Silver staged a solid rebound from the vicinity of the $25.75-70 confluence support. The overnight breakthrough a one-month-old trading range favours bearish traders. Any subsequent move up could be seen as a selling opportunity and remain capped.…

Market News
Higher oil production to weigh on prices in 2022 – CE

Higher oil production to weigh on prices in 2022 – CE

Higher production from OPEC+ member states and within the Americas means global boring is about to rise sharply over subsequent eighteen months. this is often the rationale why strategists at Capital Economics expect oil prices…

Market News
Palladium Price Analysis: XPD/USD sellers brace for Jerome Powell around $2,750

Palladium Price Analysis: XPD/USD sellers brace for Jerome Powell around $2,750

Palladium fades bounce off weekly bottom, remains subdued lately . Risk appetite dwindles amid China headlines, before the FOMC. Fed expected to stay monetary policy unchanged, dot-plot, Powell’s speech eyed. Palladium (XPD/USD) remains sidelined, around $2,762, following the first Asian session drop from…

Market News
Iron Ore to continue inching towards $250 by year-end – OCBC

Iron Ore to continue inching towards $250 by year-end – OCBC

China is shifting towards a green economy and in doing so, is encouraging more domestic steel consumption over steel exports. Subdued prices within the next six months could also be expected as a results of…