GBP/USD is set to snap a winning streak, aimed to the downside on Monday after closing in the green for six consecutive trading days. The pair briefly broke out of the top side of a heavy supply zone, but failure to capture the 1.2900 handle on Friday is sending the GBP/USD back below resistance. Despite near-term bearish momentum, the pair remains well above the...
The USD/JPY pair recovers to 147.50 after a two-day consolidation in the European session on Tuesday. The asset rebounds as the Japanese Yen weakens after Bank of Japan (BoJ) voiced doubts over Japan’s economic outlook. BoJ Ueda said in Tuesday’s Asian session that the economy is recovering on a few economic grounds as consumption remains weak. Also, Finance...
EUR/JPY edges higher to 161.40 during the Asian trading hours on Tuesday, halting its five-day losing streak. The Japanese Yen (JPY) encounters downward pressure following remarks made by Japan's Finance Minister Shunichi Suzuki, who suggested that now is not the appropriate time for the Bank of Japan (BoJ) to tighten monetary policy. This dynamic provides support...
The GBP/JPY fell for the fourth straight day late in the North American session, set to finish the week with losses of 0.44%, below the 190.00 threshold. At the time of writing, the cross trades at 188.98, down 0.31%.
The EUR/USD pair surged to 1.0981, its highest in almost two months, on Friday, ending the week at around 1.0950. Demand for the US Dollar remained subdued, which should have helped the pair run further, but discouraging European news limited Euro gains. By the end of the week, the shared currency stood as the weakest USD rival. The focus was on central banks, as...
The Australian Dollar trades around 0.6610 on Tuesday. The immediate support appears at the psychological level of 0.6600. A break below the psychological support could push the AUD/USD pair to navigate the region around the 38.2% Fibonacci retracement level of 0.6581, aligned with the nine-day Exponential Moving Average (EMA) at 0.6580. On the upside, the AUD/USD...
Gold price (XAU/USD) comes under some selling pressure on Tuesday and maintains its offered tone below the $2,180 level through the early European. Traders opt to lighten their bullish bets amid extremely overbought conditions on the daily chart and ahead of the release of the latest US consumer inflation figuers. The crucial US CPI report will influence...
Gold price (XAU/USD) extends its consolidative price move heading into the European session on Monday and remains below the record peak touched on Friday. Bulls now seem reluctant to place fresh bets around the precious metal amid extremely overbought conditions on the daily chart and ahead of the release of the latest US consumer inflation figures on Tuesday. The...
The Pound Sterling failed to sustain the previous week’s upbeat momentum and gave into the modest rebound staged by the US Dollar, as the sentiment around the Greenback continued to be supported by the expectations of delayed interest rate cuts by the US Federal Reserve (Fed). The US Dollar paused its correction from three-month highs, despite softening Core...
EUR/USD extended its rally and reached its highest level in seven weeks above 1.0950. The pair stays in a consolidation phase below 1.0950 as market focus shifts to February jobs report from the US. The European Central Bank (ECB) left key rates unchanged following the March policy meeting, as expected. The revised projections showed a downward revision to...
That being said, the dovish commentary from central bank policymakers creates a tailwind for the yellow metal. The Fed Chair Jerome Powell said the US central bank is "not far" from gaining enough confidence that inflation will reach its 2% target to begin lowering interest rates. Investors will take more cues from the US Nonfarm Payrolls (NFP) data on Friday for...
Gold price (XAU/USD) gains strong positive traction for the seventh straight day on Thursday and sticks to its intraday gains, near the record high during the early European session. Growing acceptance that the Federal Reserve (Fed) will start cutting interest rates in June keeps the US Dollar (USD) bulls on the defensive and turns out to be a key factor driving...
The Japanese Yen (JPY) adds to its strong intraday gains against its American counterpart and drags the USD/JPY pair to a four-week low, around the 148.00 mark during the early European session on Thursday. A rise in Tokyo CPI, along with hawkish remarks by Bank of Japan (BoJ) officials, lifted bets that the central bank will exit the negative interest rates...
The EUR/USD pair marched north on Wednesday, reaching a two-week high of 1.0879 during European trading hours. The uptick is modest but relevant as the pair seemed comfortable above the 1.0865 threshold, the 38.2% Fibonacci retracement of the latest daily slump. The better tone of Asian and European stock markets after Wall Street’s setback on Tuesday weighed on...
GBP/USD gained traction in the American session on Friday and erased a large portion of its weekly losses. The pair clings to small daily gains above 1.2650 in the European morning on Monday. Following a mixed opening to the day, Wall Street's main indexes gathered bullish momentum and registered strong gains on Friday. In the meantime, the benchmark 10-year US...
The EUR/USD pair trades marginally higher on Monday, hovering around the 1.0850 level ahead of Wall Street’s opening. The market mood is in better shape amid the good performance of Asian shares led by the tech sector, although European indexes lack momentum and trade around their opening levels, leading to some modest gain in US futures. A data-packed week...
The AUD/USD pair lacks any firm intraday direction on the first day of a new week and seesaws between tepid gains/minor losses through the first half of the European session. Spot prices currently trade around the 0.6520-0.6525 area, unchanged for the day and remain well within the striking distance of a nearly three-week low touched last Thursday.
Gold price (XAU/USD) attracts some buyers for the fourth successive day on Monday and trades near its highest level since December 28 touched on Friday. Friday's disappointing release of the US ISM Manufacturing PMI and the University of Michigan’s Consumer Sentiment Index, along with less-hawkish remarks by Federal Reserve (Fed) officials, reaffirmed bets for a...