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 […]
Spring below 0.9200 pushes back inside the woods
The formation of a Spring has pushed the asset inside the woods. A stretched consolidation after a bearish bias indicates inventory accumulation for a bullish reversal. Overlapping 20-EMA with the asset price is indicating a consolidation ahead. The USD/CHF pair is displaying topsy-turvy moves in the early Tokyo session as the upside in the asset […]
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 […]
Sterling helped by the constructive risk environment at the start of 2023 – ING
Sterling has been performing slightly better. Without any doubt, the better risk environment is helping the GBP, economists at ING report. Better risk environment provides some insulation “The UK has quite a large country weight in global equity and debt benchmarks, meaning that flows into these products can provide some support.” “Market pricing of a […]
PBOC sets USD/CNY reference rate at 6.8265 vs. 6.8912 previous
People’s Bank of China (PBOC) set the USD/CNY central rate at 6.8265 on Monday, versus Friday’s fix of 6.8912 and market expectations of 6.8276. In doing so, the PBOC propels the CNY rate by the most in 30 days. It’s worth noting that the USD/CNY closed near 6.8235 the previous day. In addition to the USD/CNY fix, […]
China growth to be back on track soon
“The world’s second-largest economy is expected to quickly rebound because of the country’s optimized Covid-19 response and after its economic policies continue to take effect,” Bloomberg quotes an interview from Guo Shuqing, party secretary of the People’s Bank of China (PBOC), to People’s Daily published on Sunday. Additional comments As China’s government gives households and […]
NZD/USD aims to extend recovery above 0.6250 amid risk-on impulse, US NFP hogs limelight
NZD/USD is looking to stretch its recovery above 0.6250 backed by a rebound in the risk-on mood. The US Dollar Index is struggling below 104.80 ahead of the US NFP data release. Upbeat US ADP Employment Change data has resulted in more troubles for the Fed policymakers. The NZD/USD pair is struggling to extend its […]