Upside risks with key resistance – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong highlight that USD/KRW has pushed toward 1,495, reflecting KRW’s high-beta nature during geopolitical stress and energy price spikes. With bullish momentum intact and RSI rising, risks are skewed to the upside, with resistance at 1,500 and 1,510 and support at 1,470, though policymakers’ reassurances and any conflict […]
Gold price heads for weekly loss as DXY surges above 100.00
Gold price loses some 0.70% on Friday. It seems poised to end the week with losses of more than 2% as the Greenback remains the choice for safety amid the Middle East conflict, which has increased investors’ angst over a reacceleration of inflation. Also, a softer-than-expected reading of US growth data increased the chances of […]
US Judge dismisses subpoenas against Fed Chair Powell in DOJ probe – WSJ
An article of the Wall Street Journal mentioned that a Federal Judge threw out a pair of subpoenas that the Justice Department issued to the Federal Reserve Chair Jerome Powell. The US District Judge James Boasberg, in a decision unsealed Friday, ruled the subpoenas were improper, a blow to the US Attorney Jeanine Pirro’s criminal investigation […]
South Korea, Japan mull Trump’s calls to secure Strait of Hormuz
South Korea’s presidential office said in a statement on Sunday, “we will communicate closely with the US regarding this matter and make a decision after careful review.” Takayuki Kobayashi, policy chief of Prime Minister Sanae Takaichi’s ruling Liberal Democratic Party (LDP), told public broadcaster NHK, “I regard the threshold as extremely high for sending Japanese navy ships […]
Israel launches a wave of “extensive strikes” across western Iran
Update: The Israel Defense Forces (IDF), the country’s military, said in a post on X that it had launched a wave of “extensive strikes” across western Iran. “It claims it is striking “infrastructure” of the Iranian regime,” per The Guardian. In the last hours, the IDF said on X that Iran continued to launch missiles toward the territory […]
Not ready for Iran deal, warns Kharg Island could be hit again
In an interview with NBC News on Saturday, US President Donald Trump commented on the military strikes on the Kharg Island and whether he was prepared to make a deal with Iran while pressing allies once again to help secure the Strait of Hormuz. Key quotes I’m not ready to make a deal with Iran […]
Ends week near 1.1400, down below the 200-DMA
The Euro finalized the week posting losses of over 1.74% against the Greenback and 0.84% in the day. The EUR/USD posted four bearish days after falling below the 200-day Simple Moving Average (SMA) at 1.1672, turning the pair bearishly biased. At the time of writing, the pair trades at 1.1414. EUR/USD Price Forecast: Technical Outlook […]
US strikes military targets on Kharg Island – Iran’s main oil hub
US President Donald Trump said on Saturday that the US struck military targets at a strategic Iranian outpost in the Persian Gulf and warned it could hit oil infrastructure next if Tehran keeps disrupting energy flows in the Strait of Hormuz, intensifying the two-week conflict in the region. Trump noted in his post on Truth […]
US UoM Consumer Sentiment Index is seen at 55.5 in March
American consumer confidence deflated in early March, as households grew more pessimistic about current conditions and the broader economic outlook, according to preliminary data from the University of Michigan. The closely watched Consumer Sentiment Index receded to 55.5 from 56.6 in the previous month, surpassing economists’ expectations (55.0) and signalling some weakening in public confidence. […]
Intervention talk caps gains – BNY
BNY’s Head of Markets Macro Strategy Bob Savage highlights that Japanese authorities are stepping up FX warnings as USD/JPY trades just below 160. Finance Minister Satsuki Katayama signalled readiness to act against volatility linked to Middle East tensions and higher Oil prices, while the weaker Japanese Yen is pushing 10-year JGB yields higher. The Bank […]
