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27.09.2021 Market Report


In opinion of FX Strategists at UOB Group, EUR/USD remains poised to keep the consolidation between 1.1700 and 1.1800 in the next weeks.


USD/JPY moved through the first resistance at 110.50 before stalling at 110.80. Terence Wu, FX Strategist at OCBC Bank, expects the pair to march forward following higher US Treasury yields.


Cable is still seen within the 1.3650-1.3810 rangebound theme for the time being, noted FX Strategists at UOB Group.


Given the upbeat RSI conditions, not overbought, as well as the pair’s sustained trading beyond 100-SMA and a three-week-old rising trend line, USD/CHF is likely to extend the latest recovery beyond the 0.9260 immediate hurdle.


AUD/USD prints gains on the first trading day of the week. The pair opened lower but recovered swiftly to touch the intraday high 0.7291.


One-month risk reversal (RR) on USD/CAD is up for printing the first monthly shortfall since in five. The monthly RR drops to -0.050 by the press time of early Monday. The Loonie pair prints a five-day downtrend with an intraday loss of 0.22%.


The NZD/USD reverses Friday’s downside while picking up the bids to refresh intraday top near 0.7035. The Kiwi pair keeps the last week’s rebound from 50% Fibonacci retracement (Fibo.) of late August to early September upside.


WTI prices are in no mood to slow down its previous week’s momentum on the first trading day in the initial European trading hours. The supply-chain bottlenecks underpin the demand for crude oil.


Gold closed the third straight week in the negative territory. In the view of analyst Eren Sengezer, XAU/USD remains vulnerable amid hawkish Fed outlook.