Norges Bank's confirmation that rates will be raised in September failed to have any positive impact on the Norwegian krone. For NOK to start benefiting from the NB hawkishness, we will need to see some improvement in sentiment surrounding global growth and risk appetite, according to economists at ING. 'Norges Bank says it's likely to raise rates in September, and we can expect another one in December and probably two more in 2022.' 'We need to start seeing some improvement in the global growth outlook and risk sentiment in order for the krone to benefit from NB hawkishness.

https://www.fxstreet.com/news/eur-nok-to-fall-back-to-1020-as-nb-gives-green-light-for-september-rate-hike-ing-202108191023

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MARA stock drops over 5% on Thursday as Bitcoin wobbles. The Crypto sector is still one of the hottest in town. MARA is still bullish holding above key levels. Marathon Digital stock suffered a pretty steep fall on Thursday giving up over 5% to close at $36.22. The stock has been strong of late however riding the coattails of a double tailwind in the form of record-high equity prices and Bitcoin remaining strong near $50,000. Equity markets have slowed ahead of today's Jackson Hole summit and Bitcoin has recently broken back below $50,000.

https://www.fxstreet.com/news/marathon-digital-holdings-mara-stock-forecast-its-a-marathon-not-a-sprint-202108271023

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Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. "Fed can certainly speed up or slow down taper if it becomes appropriate." "Economy is much farther along than when we tapered in 2013." "Taper will be gradual." "Inflation expectations are terribly important, if they moved up measurably Fed would react.

https://www.fxstreet.com/news/powell-speech-fed-can-speed-up-or-slow-down-taper-if-it-becomes-appropriate-202109221923

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CME Group's advanced prints for crude oil futures markets noted traders trimmed their open interest positions by just 642 contracts on Thursday, reversing at the same time six consecutive daily builds. Volume, instead, went up by around 349.3K contracts after two drops in a row. Prices of the WTI moved within the daily range on Thursday, closing the session with decent gains. The uptick, however, was amidst diminishing open interest, which allows for some rangebound trading in the very near term, while further upside still targets the YTD peaks near the $77.

https://www.fxstreet.com/news/crude-oil-futures-potential-consolidation-on-the-cards-202110010622

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GBP/USD bears are seeking Biden to weigh on on Britain this week. The US dollar is up in focus as the US CPI data looms. GBP/USD is trading at 1.4114 at the time of writing and off by some 0.27% having fallen from a high of 1.4189 to a low of 1.411 so far on Wednesday. Sterling was a little higher in early London trading, initially shrugging off post-Brexit trade issues over Northern Ireland. However, we have seen the US dollar creep a touch higher since traders looked to upcoming US inflation data and a European Central Bank (ECB) meeting on Thursday.

https://www.fxstreet.com/news/gbp-usd-under-some-pressure-ahead-of-super-thirsday-202106091923

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The overall uptrend, however, remains valid. The bounce at the 38.2% Fibonacci level suggests an Elliott Wave 4 pattern. The current ABC pullback (orange) has probably completed a wave 4 (grey) at the 38.2% Fibonacci retracement level. On the 4 hour chart, Siemens seems to have completed the 5 wave pattern in the wave C. A 5 wave leading diagonal seems to be unfolding in wave 1. The Siemens (SIE) stock price made a bearish pullback after failing to break the top. Price action made an ABC pattern rather than full uptrend as our previous analysis expected.

https://www.fxstreet.com/news/siemens-sie-stock-bullish-bounce-after-bearish-abc-pattern-completed-202106100722

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In light of flash data for crude oil futures markets from CME Group, open interest extended the downtrend for yet another session on Friday, this time by around 21.2K contracts. On the other hand, volume rose for the sixth consecutive session, now by around 522.1K contracts, the largest single-day build since March 23. WTI prices extended the rally on Friday and clinched fresh tops, all amidst declining open interest. This, plus the current overbought conditions of the commodity (as per the daily RSI) could spark some near-term corrective downside.

https://www.fxstreet.com/news/crude-oil-futures-correction-on-the-cards-202106140522

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Copper sellers battle immediate support line following a pullback from 200-SMA, six-week-old triangle resistance. MACD teases bears but sellers need rejection of bullish chart pattern. Clear break of $4.59 will trigger run-up towards refreshing record top. Copper consolidates recent gains around $4.52, down 0.45% intraday, amid early Monday. The red metal took a U-turn from the convergence of 200-SMA and the upper line of the short-term triangle the previous day. While receding bullish bias of MACD backs Copper sellers, a two-day-old rising support line near $4.

https://www.fxstreet.com/news/copper-price-today-pulls-back-from-459-resistance-confluence-202106140522

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The People's Bank of China (PBOC) is likely to maintain a stable monetary policy and make it more forward-looking and effective while avoiding a "flood-like" stimulus, Xinhua News Agency reports, citing a quarterly report by the Chinese central bank on monetary policy implementation. 'The bank will coordinate macroeconomic policies for 2021 and 2022, boost high-quality development with moderate monetary growth, and support the continued recovery of small and medium-sized firms as well as industries in difficulties.

https://www.fxstreet.com/news/pboc-to-keep-monetary-policy-stable-xinhua-202108100323

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FOMC Chairman Jerome Powell will host a town hall with educators and students at 1730 GMT on August 17. Following his speech, Powell will be responding to questions from the audience. Previewing this event, "Fed Chair Jerome Powell will have his chance to comment on high, yet mixed consumer prices in July – and also on the burning question for the market: when will the bank taper down its bond-buying scheme," said FXStreet analyst Yohay Elam. "Dollar bulls are likely to benefit from his comments.

https://www.fxstreet.com/news/fomc-chairman-jerome-powell-speech-live-stream-august-17-202108171722

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EUR/USD maintains its break above 1.1990/97 and large bullish 'outside day' and analysts at Credit Suisse look for further strength to 1.2103/13, with scope for the potential downtrend from early January, today seen at 1.2130. 'EUR/USD maintains its break above key resistance from its 55-day average and mid-March highs at 1.1992/97 completing a large bullish ‘outside day' in the process and this suggests a more important low has indeed been established near the 1.1695 key retracement support/target (38.

https://www.fxstreet.com/news/eur-usd-clear-way-for-a-move-to-the-12130-level-credit-suisse-202104200922

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USD/JPY still risks further decline in the short-term horizon, noted FX Strategists at UOB Group. 24-hour view: 'We highlighted yesterday that ‘the outlook for USD still appears to be on the soft side but any weakness is unlikely to challenge the major support at 107.65'. However, USD traded in a relatively quiet manner between 107.86 and 108.28 before closing little changed at 108.05 (-0.03%). The underlying tone still appears to be a tad soft but any weakness is viewed as part of a lower range of 107.

https://www.fxstreet.com/news/usd-jpy-prospects-for-extra-downside-unchanged-uob-202104220522

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WTI bulls in control to a critical Fibo and ride the dynamic trendline support.  Bear's commitments will be tested at this juncture ahead of full upside target.  As per the prior analysis, Bulls look to target prior support, the price has indeed moved higher from support. At this juncture, the support would be expected to hold initial tests. Bulls can target the M-formation's neckline in the meantime. However, a bullish extension target can be measured from the correction's range which brings in a -272% target at 65.

https://www.fxstreet.com/news/wti-completes-a-382-fibo-more-upside-to-come-202104222322

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AUD/JPY prints mild losses while stepping back from two-week-old horizontal resistance. Bearish MACD, downbeat market sentiment backs further weakness ahead of the key event. RBA is likely to keep the benchmark rate, bond purchase unchanged but Rate Statement will be the key to watch. AUD/JPY bounces off intraday low while picking up bids to 84.60, down 0.05% on a day, during early Tuesday. Even so, the quote registers another failure to cross the horizontal hurdle established since April 20. Not only the nearby resistance area close to 84.

https://www.fxstreet.com/news/aud-jpy-price-analysis-remains-directed-towards-immediate-support-below-8500-ahead-of-rba-202105040223

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USD/CHF posted a bullish 'key reversal day' on Friday. Although mindful of potential month-end distortions, this is a potentially significant signal. Analysts at Credit Suisse stay bullish, with a break above the 0.9196 resistance needed to confirm an important low is in place for a resumption of the uptrend. 'USD/CHF posted a bullish ‘key reversal day' on Friday, the first candlestick reversal signal of any kind since the April correction began. This is a potentially significant signal, particularly as it occurred on the back of hold above a key cluster of medium-term supports at the 200-day average and uptrend from the 2021 lows at 0.

https://www.fxstreet.com/news/usd-chf-posts-a-significant-bullish-signal-to-eye-a-move-beyond-09200-credit-suisse-202105040923

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GBP/USD remains sidelined after the heaviest drop in over a week. UK PM Johnson regains optimism over June 21 deadline to end virus-led activity restrictions. US President Biden sought to break the Northern Ireland's Brexit deadlock. US dollar pares FOMC Minutes-led gains as Treasury yields drop. GBP/USD wobbles inside a 20-pip trading range, recently picking up bids near 1.4115, ahead of Thursday's London open. Although markets reassess the previous day's risk-aversion wave, led by the FOMC Minutes, UK PM Boris Johnson's comments for unlocking seem to have helped the cable buyers of late.

https://www.fxstreet.com/news/gbp-usd-defends-14100-amid-fresh-optimism-over-uk-unlock-202105200522

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EUR/USD keeps latest rebound from 10-day EMA, off intraday low. Bullish MACD, sustained trading beyond short-term moving averages favor buyers. August month's low adds to the upside filters. EUR/USD picks up bids to 1.1642, keeping the two-day advances intact during the early Asian session on Monday. In doing so, the currency major pair stays firmer above 10-day and 21-day EMAs amid bullish MACD signals, suggesting further advances towards the downward sloping resistance line from September 22, near 1.

https://www.fxstreet.com/news/eur-usd-price-analysis-stays-sidelined-around-11650-monthly-resistance-line-in-focus-202110242222

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FX option expiries for October 27 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts         1.1600 1.5b 1.1615 558m 1.1690-00 923m - USD/JPY: USD amounts                      112.80 720m 113.55 1.5b 114.50 758m - AUD/USD: AUD amounts 0.7400 1.2b 0.7430 608m 0.7450 605m 0.7500 710m 0.7530 606m - USD/CAD: USD amounts        1.2300 370m 1.2400 1b 1.2500 258m 1.2550 651m - NZD/USD: NZD amounts - EUR/GBP: EUR amounts Information on these pages contains forward-looking statements that involve risks and uncertainties.

https://www.fxstreet.com/news/fx-option-expiries-for-october-27-ny-cut-202110270622

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EUR/USD keeps the offered stance unchanged around 1.1570. US ADP report surprised to the upside in October at 571K jobs. The FOMC event is due later with QE tapering in the centre of the debate. Sellers seem to remain in control of the sentiment around the European currency and force EUR/USD to drop to daily lows near 1.1560 on Wednesday. EUR/USD now accelerates losses and adds to Tuesday's bearish price action against the backdrop of further recovery in the greenback as well as the prevailing cautiousness ahead of the FOMC gathering.

https://www.fxstreet.com/news/eur-usd-remains-depressed-near-11570-fomc-looms-closer-202111031423

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CME Group's preliminary readings for crude oil futures markets noted traders added around 4.5K contracts to their open interest positions on Tuesday, reversing the previous daily drop. In the same line, volume resumed the uptrend and went up by nearly 255K contracts. Prices of the WTI extended the leg lower amidst rising open interest and volume on Tuesday. The inconclusive price action could open the door to some consolidation in the very near term, while prices of the commodity remain capped by the key $70.

https://www.fxstreet.com/news/crude-oil-futures-probable-consolidation-ahead-202109080622

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Markets have over reacted to recent inflation data. Got to be sure inflation will be sustainably in 2-3% target, market pricing of early 2022 hikes is well away from where we are now. Decline in wages growth has been decade long, needs to change dramatically. more to come ,,, Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

https://www.fxstreet.com/news/rbas-lowe-market-pricing-for-early-rate-hikes-extremely-unlikely-202111020523

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FX Strategists at UOB Group still see EUR/USD advancing past the 1.1900 mark in the next weeks. 24-hour view: 'Yesterday, we expected EUR to ‘trade sideways within a 1.1840/1.1895 range'. Our view for sideway-trading was not wrong even though EUR traded within a narrower range than expected (1.1857/1.1896). Momentum indicators are still mostly ‘neutral' and further sidewaytrading would not be surprising. Expected range for today, 1.1855/1.1900.' Next 1-3 weeks: 'Our update from last Friday (30 Jul, spot at 1.

https://www.fxstreet.com/news/eur-usd-still-expected-to-push-higher-uob-202108030521

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Here is what you need to know on Thursday, August 19: The US dollar has been marching higher after the Fed's meeting minutes suggested that tapering is on the agenda. EUR/USD hit the lowest since November 2020 and the Aussie fails to benefit from upbeat jobs figures. Gold is under pressure and oil sinks to the lowest since May. US jobs figures and covid headlines are eyed.  Taper is coming: The Federal Reserve's meeting minutes from the July gathering suggested that the bank is tilting toward reducing its bond-buying scheme already in 2021.

https://www.fxstreet.com/news/forex-today-dollar-surges-on-fed-taper-speculation-covid-concerns-commodity-currencies-crumble-202108190621

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USD/JPY has been thrown back and forth by surging oil prices (weaker JPY) and declining long US yields (stronger JPY) for a while now. Economists at Danske Bank expect the pair to edge higher as US yields lift off. 'With a prolonged ‘state of emergency' in several regions including Tokyo extended to mid-September, the domestic economy will remain weak through Q3, adding upwards pressure on USD/JPY.' 'We expect high commodity prices to continue to weigh on the yen going forward.' 'We think USD/JPY has further to go, as the US economy outpaces Asia not least due to the stronger position in the vaccine race vs.

https://www.fxstreet.com/news/usd-jpy-to-march-forward-as-us-yields-race-higher-danske-bank-202108190722

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Last week, USD/CAD rose 3.4% to Friday's high of 1.2949. Back in mid-July, USD/CAD completed a cup and handle formation with an implied target of 1.2956. Rabobank's initial target back then stood at 1.2670, and after trading through that level, the pair returned to a period of consolidation before last week's bullish breakout. The Dutch bank has rolled forward its USD/CAD forecast so the one-month projection is now at 1.27 and the three-month projection is at 1.28. See – USD/CAD: Delta and elections to wallop the loonie in the near-term – BMO 'In terms of short-term price action, the 1.

https://www.fxstreet.com/news/usd-cad-to-explode-higher-above-the-128-level-rabobank-202108240623

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S&P 500 Futures fail to track mildly bid Wall Street benchmarks. US 10-year Treasury yields remain pressured for third consecutive day. Early signals for US NFP reject tapering fears but it all depend upon the actual release, virus updates are mixed. Market sentiment remains sluggish during early Friday, repeating the usual pre-NFP performance. While portraying the mood, S&P 500 Futures remain sluggish even as the Wall Street benchmarks closed mildly positive on Thursday whereas the US 10-year Treasury yields drop 0.

https://www.fxstreet.com/news/sp-500-futures-us-treasury-yields-portray-pre-nfp-trading-lull-202109030222

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Here is what you need to know on Monday, September 13: Markets have kicked off the week with minor gains after a down week. Uncertainty about US inflation, China's tech crackdown and worries about covid and infrastructure. The dollar is gaining ground across the board. Cryptos are on the back foot.  Cautious mood: S&P 500 futures are little changed after stocks eroded previous gains last week. Concerns about US inflation remain prevalent after Friday's relatively high producer price figures and ahead of Tuesday's all-important release of consumer prices.

https://www.fxstreet.com/news/forex-today-dollar-marches-higher-on-cautious-mood-amid-inflation-concerns-chinas-techlash-202109130522

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NZD/USD reverses Monday's recovery moves, pressured around intraday low. NZ Government removes tax relief over housing loan interest to tame the real-estate prices. Risk appetite worsens amid uncertainty over US debt limit, stimulus and China's Evergande. Fed Chairman Powell's testimony, headlines over stimulus and China will be important for fresh impulse. NZD/USD takes offers around 0.7000, down 0.25% intraday during early Tuesday. The kiwi pair fails to keep the previous day's rebound amid risk-off mood, also ignoring the New Zealand (NZ) government efforts to cool down the hot property prices.

https://www.fxstreet.com/news/nzd-usd-drops-back-to-07000-ignores-nz-push-to-cool-down-property-crisis-202109280122

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GBP/USD has bounced after the BOE's Haldane called on removing stimulus. Brexit and also reopening and inflation worries could push the pound back down. Wednesday's four-hour chart is painting a mixed picture. We could start tightening the tap on QE – Andy Haldane, Chief Economist at the Bank of England, has single-handedly knocked sterling from its sleep and has sent it higher. He has also said that the UK economy is going "gangbusters" and that he is already seeing price pressures. Read more...

https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-under-pressure-amid-coronavirus-related-concerns-202106091923

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AUD/USD remains on the back foot near one-week low. Risk appetite dwindles amid pre-Fed cautious, lack of catalysts. Off in Australia, China and a light calendar elsewhere add to the sluggish markets. AUD/USD regains the 0.7700 threshold, following a drop to the intraday low of 0.7692, amid a lackluster trading session on Monday. While an extended weekend in Australia and China restricts market moves, a light calendar and thin news feed keep the pair tight-lipped of late. Even so, mildly bid S&P 500 Futures restrict the Aussie pair's downside amid a quiet session.

https://www.fxstreet.com/news/aud-usd-mildly-offered-around-07700-amid-subdued-markets-202106140322

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