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 […]
6.7905 vs. estimate at 6.7900
Share: In recent trade today, the People’s Bank of China (PBOC) set the yuan at 6.7905 vs. the estimate at 6.7900 and the last close of 6.7940. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not […]
Bulls eye a 38.2% Fibo in the 1.2120s
Share: GBP/USD is making tracks higher and bulls eye the 38.2% Fibonacci target of around the 1.2120s. On the 15-minute chart, GBP/USD is breaking the structure after putting in a higher low for the New York session. A break of 1.2092 is now what the bulls need to solidify the prospects of a push […]
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 […]
GBP/USD breaks to the upside, eyes 1.2050s
Share: GBP/USD rallies in the New York session ahead of Fed Powell. GBP/USD is the back side of the trendline resistance which is now expected to act as a counter-trendline with a focus on the upside. There are prospects of a move towards the 1.2050s with the 1.1990s eyed as support. GBP/USD is […]
EUR/USD extends the decline and pierces 1.0700
Share: The selling pressure around EUR/USD remains unchanged. German Industrial Production surprised to the downside. Chief Powell will take centre stage later in the NA session. Sellers remain well in control of the sentiment in the global markets and now drag EUR/USD briefly to the sub-1.0700 region on Tuesday. EUR/USD remains offered ahead […]
GBP/USD bulls move in from the lows of a significant daily drop
Share: A busy week ahead for GBP/USD with domestic growth and central bank speakers. GBP/USD bulls are attempting to correct the US Dollar’s strength. On the daily chart, the 38.2% Fibonacci is around the psychological 1.2150 area. GBP/USD is flat on the day at 1.2025 so far as we enter the Tokyo session […]
GBP/USD tumbles to the 1.2100 zone as Dollar jumps on upbeat NFP
US jobs numbers surpass expectations in January, not earnings. US Dollar and Treasury bond yields soar after NFP. GBP/USD extends weekly losses as USD jumps on data. The GBP/USD tumbled from 1.2250 to 1.2100, reaching the lowest level in three weeks after the NFP. During the last hour, it rebounded modestly rising toward 1.2150. The […]
USD Index extends the upside north of 102.00 ahead of ISM
The index picks up extra pace after another solid NFP print. The US labour market shows no signs of weakness so far. The US economy added far more jobs than predicted. The greenback adds to the optimism seen in the second half of the week and lifts the USD Index (DXY) back above the 102.00 […]
GBP/USD collapses to new 4-week lows at 1.2059 after robust US economic data
The Pound Sterling opposes no resistance to upbeat economic data in the United States. US jobs data and services activity showed that the US economy remains solid despite the US Federal Reserve tightening cycle. For the next week, GBP/USD traders are eyeing the UK GDP and US Fed speakers. GBP/USD nosedives and extended its losses […]