EUR/USD refreshes eight-month high above 1.0870 as risk profile soars, US PPI in focus
EUR/USD has refreshed its eight-month high above 1.0870 amid a positive risk-impulse. Volatility in the USD Index has escalated as the appeal for safe-haven assets has dropped. After slowing the extent of the interest rate hike to 50 bps, the Fed is expected to trim rate hike pace further to 25 bps. The EUR/USD pair […]
EUR/USD juggles below 1.0850 as focus shifts to US PPI and Retail Sales data
EUR/USD is oscillating below 1.0850 amid a holiday in the United States market. The US Dollar Index (DXY) is looking to drop below the immediate support of 101.75 amid an upbeat market mood. The release of the US PPI and Retail Sales will provide decisive moves in the asset ahead. The EUR/USD pair is struggling […]
XAU/USD aims to extend rally above $1,920 as Fed to ease policy tightening pace
Gold price is looking to extend gains above $1,920.00 decisively amid weakness in the US Dollar Index (DXY). The Fed is expected to scale down the policy tightening pace amid declining inflation. S&P500 recorded a four-day winning streak, portraying a risk-on market mood. Gold price (XAU/USD) has turned sideways after a juggernaut rally to near […]
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 […]
End to rate hikes will coincide with an end to USD gains during early 2023 – Wells Fargo
In the view of economists at Wells Fargo, end to monetary tightening should bring the US Dollar’s gains to an end by early 2023. Eventual US recession to soften the greenback “An end to rate hikes will coincide with an end to USD gains during early 2023. Indeed, we believe a peak in the trade-weighted […]
Considerable upside in Yen vs. US Dollar – TDS
Economists at TD Securities think the Yen will trade with an asymmetric bias that is tilted to the upside. EUR/JPY: Downside towards 130 in the coming months is likely “With the Fed ceding leadership on policy to the ECB and the BoJ, JPY trading bias remains asymmetric and with considerable room for gains.” “We expect […]
The Odds of a Dovish Fed in February Increase, Putting Pressure on the USD
US equities closed in green on Thursday, while on Friday a profit taking mood prevails with US futures on the slippery slope. The dollar index holds above the 102 level, but the yen's strong gains indicate lower expectations that the Treasury-JGB rate differential will remain wide. USDJPY declined 0.75% and closely follows the rate differential:Despite […]
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 […]
US December CPI in line with estimates, Fed expected to gear down to 25 bp tightening rate |
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WTI struggles to extend recovery towards $79.00, optimism remains on softer US inflation
Oil prices have turned sideways after failing to extend recovery to near $80.00. The black gold price has not run out of steam as the US administration is ceasing oil supply to China. Falling US inflation has triggered odds of a slowdown in the pace of the Fed’s policy tightening. West Texas Intermediate (WTI), futures […]