All posts by Haresh Menghani


USD/JPY drops to 2-week lows, around mid-105.00s

   •  A goodish USD rebound fails to provide any respite for the bulls.   •  Risk-off mood boosts JPY’s safe-haven appeal and exerts pressure.  The USD/JPY pair extended its post-FOMC retracement slide from one-week tops and is currently placed at over 2-week low, around mid-105.00s.


UK Feb. retail sales up 0.8% m-o-m vs. 0.4% expected

“In February 2018, the quantity bought in retail sales increased by 0.8% when compared with the previous month,” the UK Office for National Statistics (ONS) reported this Thursday. Key points:    •  The monthly increase to the quantity bought follows two monthly declines in December


USD/CAD plummets to 1-1/2 week lows on notable USD supply

   •  The post-FOMC USD selling remains unabated on Thursday.    •  Technical selling below 1.29 handle aggravates the downfall.  The greenback selling remained unabated on Thursday, with the USD/CAD pair falling to 1-1/2 week lows during the early European session. The pair extended its recent


Gold inches back closer to 2-week tops on softer USD

   •  The latest FOMC policy updates helped rebound sharply from 3-week tops.   •  Follow-through USD selling/weaker US bond yields should limit any downside. Gold quickly reversed an intraday dip to $1327 area and moved within striking distance of 2-week tops, set in the previous