USD/CAD rebounds from seven-week low, jumps back above 1.3400 amid resurgent USD demand
USD/CAD stages a solid intraday recovery amid a strong pickup in the USD demand. Rebounding US bond yields and the risk-off impulse lifts the safe-haven Greenback. Positive Crude Oil prices could underpin the Loonie and cap the upside for the major. The USD/CAD pair rebounds sharply from the 1.3320 area, or its lowest level since […]
AUD/USD hovers around 0.6960s in choppy trading ahead of the weekend
Consumer Sentiment in the United States improved and capped AUD/USD rally. The US last inflation report, spurred speculation that the Fed would decelerate the pace of interest rate increases. Improvement in Australia – China relations is a tailwind for the Australian Dollar. The Australian Dollar (AUD) hit a fresh six-month high against the US Dollar […]
USD/CHF shifts negative and drops toward 0.9260 on soft USD
USD/CHF retraced earlier gains after printing a daily high of 0.9316. Upbeat US economic data is bad for the greenback as the US Dollar weakens. USD/CHF Price Analysis: A break / daily close below 0.9300 would expose the pair to further selling pressure. The USD/CHF is trading below its opening price, though it failed to […]
NZD/USD trimmed Thursday’s gains, stumbles below 0.6400
NZD/USD finished the week with solid gains of 0.6700%, spurred by softer US CPI data. Consumer inflation expectations in the US edged lower and weighed on the US Dollar. NZD/USD Technical Analysis: Failure at 0.6400, cheered by sellers, eyeing a fall to 0.6300. The NZD/USD retraced after testing the current week’s high of 0.6417, dropped […]
Stalled its rally at the 100-DMA, dropped beneath 1.3400
USD/CAD finished Friday’s session with gains, though it faltered to clear 1.3400. USD/CAD Price Analysis: Exposed to selling pressure below 1.3400. The USD/CAD prolonged its weekly losses and tumbled for the fourth consecutive week, losing 0.36%, but on the day, the USD/CAD is up 0.22%. After the University of Michigan (UoM) Consumer Sentiment release showed […]
USD Index accelerates the rebound well north of 102.00
The index reverses part of the recent acute sell-off. US yields remain directionless across the curve on Friday. Flash Michigan Consumer Sentiment will be next on tap. The greenback’s recovery picks up extra pace and revisits the 102.65/70 band when gauged by the USD Index (DXY) on Friday. USD Index meets contention around 102.00 Following […]
USD/JPY drops below 128.00 for the first time since May 2022
Japanese yen extends gains across the board on Friday. US Dollar up for the day, sharply lower for the week. USD/JPY drops for the second day in a row. The USD/JPY is falling sharply for the second day in a row and it is trading under 128.00 at the lowest level since late May of […]
EUR/USD heads for biggest weekly gain since November despite Friday’s slide
EUR/USD about to post the highest weekly close since May 2022. US Dollar back under pressure, heads for sharp weekly losses. US Consumer Confidence rises more than expected in January. The EUR/USD trimmed daily losses during Friday’s American session, rising back above 1.0800. The euro was holding onto significant weekly gains, headed toward the biggest close […]
GBP/USD is subdued around 1.2200 after printing a four-week high
US Consumer Sentiment improved, while inflation expectations edged lower. UK’s GDP for the fourth quarter contracted and flashed a gloomy economic outlook. GBP/USD traders are eyeing UK CPI, Retail Sales, and US Retail Sales data. The Pound Sterling (GBP) slid slightly vs. the US Dollar (USD) Friday, following the release of the University of Michigan […]
Retreats from multi-month top, downside potential seem limited
AUD/USD fails ahead of the 0.7000 mark and corrects from a multi-month top touched on Friday. A combination of factors helps revive the USD demand and exerts downward pressure on the pair. The technical setup favours bulls and supports prospects for the emergence of some dip-buying. The AUD/USD pair retreats from the vicinity of the […]