Brexit, UK tax concerns probe bulls above 1.2350, PMIs eyed
GBP/USD clings to mild gains after reversing from 7.5-month high the previous day. UKICE reports no likely change to Brexit terms despite UK’s latest hardships. Concerns surrounding UK’s tax cuts in upcoming budget, tax probe on Conservative leader also probe Cable buyers. Preliminary readings of UK/US PMIs for January, BOE’s Pham eyed for fresh impulse. […]
Expects volatility contraction amid Ascending Triangle formation
A recovery in investors’ risk appetite has led to a correction in USD/JPY. The volatility is contracting amid an Ascending Triangle formation. The 21-EMA is continuously providing support to the US Dollar. The USD/JPY pair has corrected gradually to near 130.15 after printing a fresh three-day high at 130.89 on Monday. The asset has corrected […]
USD/JPY drops back towards 130.00 to snap two-day rebound amid softer yields, mixed Japan PMI
USD/JPY takes offers to refresh intraday low, prints the first daily loss in three. Japan’s Jibun Bank Manufacturing PMI stays intact, Services PMI improved in January. Chatters over easing Covid-led restrictions on Japan, mixed sentiment exert downside pressure on Yen pair. US PMIs, risk catalysts are the key ahead of US Q4 GDP. USD/JPY slides […]
Businesses see lower odds US in or entering recession
Early Monday morning in Europe, the National Association of Business Economics (NABE) released details of its January 4-11 survey on the US business conditions while pushing back the recession woes in the world’s largest economy. “The likelihood that the United States is already in recession or will fall into one this year has dropped over […]
USD/CAD eyes the first weekly gain in five on upbeat options market signals
USD/CAD remains indecisive on a day while taking rounds to 1.3460-50 during early Friday. Even so, the Loonie pair braces for the first weekly gain in five amid upbeat signals from the options market. That said, a one-month risk reversal (RR) of the USD/CAD pair, a ratio of call options versus put options, also known […]
EUR/USD clings to mild gains near 1.0850 as ECB, Fed hawks jostle amid recession concerns
EUR/USD grinds higher around intraday top as it braces for the second consecutive weekly gain. Although Fed officials also sync the tune with ECB hawks, hopes of shorter recession in Europe favor bulls. Downbeat US data renew economic fears surrounding the world’s largest economy and probe DXY bulls. ECB President Lagarde’s speech, Fed talks before […]
USD/CNH snaps four-day uptrend around 6.7700 despite PBOC inaction
USD/CNH consolidates weekly gains with mild daily losses. PBOC keeps one-year, five-year Loan Prime Rates (LPRs) unchanged. US Dollar’s inability to cheer hawkish Fedspeak weigh on prices amid cautious optimism. USD/CNH remains pressured around 6.7700, printing the first daily loss in a week, as trades react to the People’s Bank of China’s (PBOC) status quo […]
AUD/USD renews weekly bottom around 0.6890 amid poor Aussie employment, downbeat yields
AUD/USD bears poke previous monthly top during a two-day downtrend from five-month high. Australia jobs report bolstered case for slower rate hike from the RBA. US Treasury bond yields renew multi-day low even as downbeat data, hawkish Fedspeak renew recession fears. AUD/USD holds lower ground near the intraday low near 0.6890 as the previous monthly […]
When is the Australian employment report and how could it affect AUD/USD?
December month employment statistics from the Australian Bureau of Statistics, up for publishing at 00:30 GMT on Thursday, will be the immediate catalyst for the AUD/USD pair traders. Market consensus suggests that the headline Unemployment Rate may remain unchanged at 3.4% on a seasonally adjusted basis whereas Employment Change could ease to 22.5K versus the […]
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 […]