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 […]
EUR/USD and EUR/JPY At Risk of Fresh Decline – Analytics & Forecasts – 1 February 2023
EUR/USD is facing resistance near the 1.0880 zone. EUR/JPY is also facing hurdles and remains at a risk of a downward move below 141.00. Important Takeaways for EUR/USD and EUR/JPY · The Euro started a fresh increase from the 1.0800 zone. · There is a key bearish trend line forming with resistance near 1.0895 on […]
Decline to persist on a move below 391 – SocGen
EUR/HUF’s correction is set to extend if 391 gives way, analysts at Société Générale report. 404 must be reclaimed to negate the break “The HUF is outperforming in CEE4 this year, and the thawing of relations with the EU means the currency could stay in demand.” “EUR/HUF recently confirmed a Head and Shoulders pattern and […]
USD/JPY set to decline toward 125 over the coming months – Danske Bank
The Yen saw a boost from the BoJ initiating the beginning of the end to its Yield-Curve-Control. Economists at Danske Bank expect the USD/JPY pair to edge lower towards the 125 over the coming months. Tightening cycle commencing “Japanese monetary policy has taken over as a key driver of USD/JPY, while global inflation, bond yields […]
US dollar: bearish sentiment still prevails despite major decline
After falling last week by 2% to 101.80, the dollar index rebounded on Monday amid no visible bearish catalysts to push lower. The rebound could be also facilitated by the fact that the price has reached the lower bound of the bearish channel:From a technical point of view, upside USD correction after the significant drop […]
USD/CNY unlikely to extend its decline toward 6.30 – SocGen
China FX has front-loaded the China reopening and economists at Société Générale are cautious about chasing a CNY rally. Neutral on Yuan “As USD/CNY has already reversed more than 50% of the rise in 2022, it would be necessary to feed more positive surprises to the market to deepen a CNY rally to the 6.30 […]