USD/CNH could still advance to 6.8500 and above – UOB
Share: Further gains could still lift USD/CNH to the 6.8500/6.8800 region in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “Our expectations for USD to edge lower did not materialize as it traded in a relatively quiet manner between […]
Further gains to 6.8500/6.8800 remain on the table – UOB
Share: While above the 6.7400 level, USD/CNH could challenge the 6.8500 region ahead of 6.8800, note UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: “We expected USD to trade within a range of 6.7800/6.8200 yesterday. USD subsequently traded between 6.7765 and 6.8070. The underlying tone […]
Recovery fades near 159.50 as key DMAs, trend lines probe bulls
Share: GBP/JPY bulls struggle to keep the reins after two-day uptrend. 10-DMA, 21-DMA and two-month-old resistance line challenge immediate upside amid sluggish MACD. Bears should wait for 61.8% Fibonacci retracement breakdown. GBP/JPY makes rounds to 159.40 while fading the two-day uptrend during early Tuesday. In doing so, the cross-currency pair jostles with the […]
24 Exchange Crosses $1B Mark in Forex NDFs ADV in January
The average daily volume (ADV) of forex non-deliverable forwards (NDFs) traded on 24 Exchange hit over $1 billion in January 2023, Dmitri Galinov, the Chief Executive Officer of the Bermuda-based multi-asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When […]
NZD/USD faces some consolidation near term – UOB
According to Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, NZD/USD could navigate within 0.6400 and 0.6535 in the next few weeks. Key Quotes 24-hour view: “We held the view that NZD ‘is likely to trade sideways within a range of 0.6465/0.6510’ yesterday. Our view of sideways trading was […]
En route 0.8860 hurdle during four-day uptrend
EUR/GBP grinds near weekly high, up for the fourth consecutive day. Clear rebound from 50% Fibonacci retracement, upside break of 100-SMA favor bulls. One-week-old resistance line restricts immediate upside ahead of monthly top. EUR/GBP picks up bids to 0.8845 as bulls poke intraday high, as well as the weekly top, heading into Wednesday’s European session. […]
Advances for three days, reclaims 0.8820s
EUR/GBP finds acceptance above the 20/50-day EMAs and 0.8800. The January 13 daily high at 0.8897 will be the bull’s next target if the EUR/GBP achieves a daily close above 0.8800. The EUR/GBP hit a five-day new high at 0.8846, as positive Eurozone data outweighed bad UK PMIs, which reignited recessionary fears amongst Britons. Therefore, […]
Next on the upside comes the 143.00 region
EUR/JPY climbs further and retakes the 142.00 mark. Further gains could see the resistance area around 143.00 revisited. EUR/JPY adds to Friday’s strong bounce and leaves behind the key 142.00 hurdle at the beginning of the week. A sustainable breakout of the 200-day SMA, today at 140.76, should shift the outlook to a more constructive […]
Bulls reclaim the 20/200-DMAs, eyeing a weekly close above 140.50
EUR/JPY bounced off the day’s lows at 139.03 and hit a daily high of 141.19 before losing steam. The EUR/JPY reclaiming and achieving a daily close above the 200-day EMA keeps bulls hopeful of higher prices. The Euro (EUR) rallies sharply on Friday, ahead of the weekend, as the Japanese Yen (JPY) weakened following the […]