EUR/USD struggles around 1.0880s and tumbles below 1.0800
EUR/USD erases its earlier gains, despite registering a 9-month high around 1.0887. Big Tech companies slashing 28K jobs, and weaker US economic data, sparked recession fears. Fed officials support interest rate hikes until 5% or slightly above. EUR/USD reversed its course after hitting a nine-month high around 1.0887 on Wednesday after US economic data could […]
EUR/USD now points to some consolidation – UOB
UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest EUR/USD is now seen within the 1.0680-1.0880 range. Key Quotes 24-hour view: “We expected EUR to ‘trade sideways between 1.0790 and 1.0860’ yesterday. However, EUR rose briefly to 1.0869, dropped sharply to 1.0773 and closed at 1.0788 (-0.26%). The rapid decline in […]
USD/JPY rises back above 128.50 on broad US Dollar strength, ahead of the BoJ’s meeting
The USD/JPY traded below 128.00 for the first time since June 2022. USD/JPY traders are bracing for the Bank of Japan’s monetary policy meeting on Wednesday. USD/JPY Price Analysis: Downward biased; it could test 125.00 in the near term. The USD/JPY recovered after hitting an eight-month low around 127.21, reclaiming 128.00 and advancing sharply toward […]
A test of 1.0900 remains well in place
EUR/USD sees its recent strong advance momentarily halted. The resumption of the bullish bias should target the 1.0900 level. EUR/USD comes under pressure soon after hitting fresh 9-month peaks around 1.0870 on Friday. Despite the ongoing knee-jerk, bulls remain well in control of the mood around the pair for the time being. Against that, further […]
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 […]