Kremlin rejects Russian default, says bond payments executed

Russia does not accept that it has defaulted on its external debt, the Kremlin said in a statement on Monday. Additional takeaways Russian gold and forex reserves are blockedly prohibited. Russia made payment on euro bond coupons in May. Euroclear not accepting Russia’s euro bond transaction ‘is not our problem’. Early Monday, Bloomberg reported that … Read more

USD/JPY climbs back above 135.00 mark, lacks follow-through amid modest USD weakness

A combination of factors assisted USD/JPY to reverse modest intraday losses on Monday. A positive risk toned the safe-haven JPY amid the Fed-BoJ policy divergence. Weaker USD failed to inspire bullish traders or provide any additional boost to the major. The USD/JPY pair attracted some dip-buying on the first day of a new week and … Read more

USD/JPY recovers modest intraday losses, retakes 135.00 amid risk-on/rising US bond yields

A combination of factors assisted USD/JPY to attract some buying near the 134.35 area on Friday. The risk-on impulse, widening of the US-Japanese yield differential weighed on the safe-haven JPY. The Fed-BoJ policy diversion suggests that the pullback from a 24-year high has run its course. The USD/JPY pair attracted some buying near the 134.35 … Read more

Australia Treasury bond yields brace for the biggest weekly fall in a decade

Aussie bond buyers keep reins as traders await RBA’s Lowe. 10-year coupons retreat from the highest in eight years to snap a four-week uptrend. 3-year Treasury yield reverse from late 2011 highs, on the way to posting the biggest weekly loss in 11 years. Aussie data, hawkish RBA fail to underpin bond-buying amid recession fears. … Read more

EUR/CHF drops to three-month lows amid recession fears

Swiss franc among top performers on Thursday. Eurozone and US data add to concerns about the growth outlook. EUR/CHF approaches parity again, bearish pressure intact while under 1.0150. After moving sidesways for four days, EUR/CHF broke to the downside falling to as low as 1.0067, the lowest level since early March. The cross remains under … Read more

XAUUSD jumps to fresh daily high, bulls await move beyond 200-DMA

Gold attracted some dip-buying in the vicinity of the weekly low and shot to a fresh daily high. The ongoing slide in the US bond yields capped the USD and offered support to the commodity. Hawkish Fed expectations might hold back bulls from placing aggressive bets around the metal. Gold reversed an intraday slide to … Read more

Yields likely to rise further – BBVA

According to the Research Department at BBVA, Treasury yields are likely to rise further, peaking at the time when the Federal Reserve end with tightening monetary policy. They point out current Treasury yield spreads seem to continue to price in a soft landing. Key Quotes: “Slowing demand to bring down inflation without significant pain is … Read more

USD/CAD keeps the red post-Canadian Retail Sales, holds above 1.2900 mark

USD/CAD watch some follow-through selling for the second straight day on Tuesday. Rising oil prices, upbeat Canadian data underpinned the loonie and exerted pressure. Rallying US bond yields acted as a tailwind for the USD and helped limit deeper losses. The USD/CAD pair managed to find decent support near the 1.2900 mark on Tuesday and … Read more

XAUUSD remains confined in a narrow band below 200-day SMA

Gold struggled to gain any meaningful traction and remained confined in a range below 200-DMA. Broad-based USD weakness offered support to the metal and helped limit any meaningful downfall. The risk-on impulse, rising US bond yields continued acting as a headwind and capped the upside. Gold reversed an intraday dip to the $1,830 area, or … Read more

NZD/USD sticks to intraday gains, bulls flirt with 0.6360-70 resistance zone

A combination of supporting factors pushed NZD/USD higher for the second straight day. The risk-on impulse generald the safe-haven USD and benefitted the risk-sensitive kiwi. Hawkish Fed expectations, rising US bond yields to limit the USD losses and cap the major. The NZD/USD pair attracted some buyers for the second straight day on Tuesday and … Read more