Alone in studio, Merlin looks to answer several listener questions covering a wide variety of currencies and commodities. Merlin focuses on the Euro, and offers some insights as to what to expect from the ECB press conference on Thursday. He also looks at gold and the potential to jump on the momentum.
Editors’ Picks
EUR/USD clings to small gains near 1.1750
Following a short-lasting correction in the early European session, EUR/USD regains its traction and clings to moderate gains at around 1.1750 on Monday. Nevertheless, the pair's volatility remains low, with investors awaiting this weeks key data releases from the US and the ECB policy announcements.
GBP/USD remains confined in a range above mid-1.3300s ahead of UK jobs report
The GBP/USD pair extends its sideways consolidative price move through the Asian session on Tuesday and currently trades around the 1.3370-1.3365 region, nearly unchanged for the day. Traders seem reluctant and opt to wait for this week's important macro releases and the key central bank event risk before placing fresh directional bets.
USD/JPY stays in the red below 155.00 amid BoJ rate hike bets, US data awaited
USD/JPY holds moderate losses below 155.00 in the Asian session on Tuesday. The Japanese Yen gains ground on expectations that the Bank of Japan will raise interest rates at the upcoming policy meeting on Friday. Traders will closely monitor key US data, including Nonfarm Payrolls, Retail Sales, and Purchasing Managers Index, which are due later in the day.
Editors’ Picks
AUD/USD falls toward 0.6600 amid risk aversion
AUD/USD drops toward 0.6600 in Asian trading on Tuesday, as recent mixed Australian labour market data and renewed concerns about the health of the Chinese economy undermine the Aussie amid a softer risk tone and a pause in the US Dollar decline. Traders now look to the delayed US NFP report for some impetus.
USD/JPY stays in the red below 155.00 amid BoJ rate hike bets, US data awaited
USD/JPY holds moderate losses below 155.00 in the Asian session on Tuesday. The Japanese Yen gains ground on expectations that the Bank of Japan will raise interest rates at the upcoming policy meeting on Friday. Traders will closely monitor key US data, including Nonfarm Payrolls, Retail Sales, and Purchasing Managers Index, which are due later in the day.
Gold drifts lower on profit-taking, traders await US NFP release
Gold price loses momentum below $4,300 during the early Asian trading hours on Tuesday, pressured by some profit-taking and weak long liquidation from the shorter-term futures traders. Furthermore, optimism around Ukraine peace talks could weigh on the safe-haven asset like Gold.
Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts
Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000.
NFP preview: Complex data release will determine if Fed was right to cut rates
The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.
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