GBP/JPY dipped back from earlier highs near 155.00 to the low 154.00s but remains within recent ranges. The pair is still trading in the green after nursing a recovery from an earlier weekly dip. There is notable resistance in the 153.00 area and resistance in the 155.50 area. GBP/JPY held within a 154.00-155.00ish range on
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Analysts at MUFG Bank, have a trade idea of a long position of the USD/ZAR, with an entry level at 15.500, a target at 16.300 and a stop loss around 15.000. They point out that broad dollar strength is already starting to weigh more heavily on the South African rand again. Key Quotes: “The ZAR
EUR/USD licks its wounds at the lowest levels in 19 months, recently easing from intraday high. Markets remain lackluster amid mixed concerns over Russia-Ukraine and softer start to Friday. ECB’s Kazimir expects near-term increase in inflation, improvement in German Consumer Confidence teases ECB hawks ahead of key GDP. US Q4 GDP jumped, inflation expectations gained
On Thursday, the Swiss franc collapsed almost 1%, as Fed policymakers eye the first rate hike in the March meeting. The US Dollar Index marches firmly above 97.00 for the first time since 2020. USD/CHF is upward biased, though a retracement before resuming the uptrend is on the cards. During the North American session, the
GBP/USD takes offers to renew monthly low, down for the second consecutive day. EU to sue UK over deal in bonkers, delay in Brexit talks over NI. Sue Grey’s report awaited as UK PM Johnson defends drinks party, animal evacuation from Afghanistan adds to the problems. Fed matched hawkish market forecasts, US Q4 GDP awaited
In his post-BoC policy announcement/Monetary Policy Report release press conference on Wednesday, Governor Tiff Macklem said that interest rates will have to go up to counter inflation. Canadians should expect a rising path of interest rates, given the BoC is committed to bringing inflation back to target. Additional Remarks: “There is some uncertainty about how
GBP/USD fades corrective pullback from three-week low, indecisive during Asia. France reissues legal threat to UK over fishing issues, EU’s Sefcovic ‘frustrated’ over Brexit deadlock. The UK eases covid-linked restrictions on international arrivals, PM Johnson awaits Tory reaction to ‘Partygate’. Fed, BOE both expected to turn hawkish but today is the FOMC day and hence
The greenback slides against the Japanese yen, despite a mixed market mood. Some 8,500 American troops were put under high alert, attributed to the escalation of the Russia – Ukraine conflict. USD/JPY is upward biased despite breaking under the 50-DMA, though the longer time-frame ones remain under the spot price. In the North American session,
USD/CHF remains sidelined around intraday high, defends two-week-old resistance break. Firmer Momentum line, sustained trading beyond 200-HMA favor buyers. Fortnight-long descending resistance line guards immediate upside moves. USD/CHF grinds higher around 0.9155, up 0.09% intraday heading into Tuesday’s European session. In doing so, the Swiss currency (CHF) pair holds onto the previous day’s upside break
AUD/USD continued to decline in recent trade in tandem with the broader risk asset sell-off and is now under 0.7100. The pair broke below a key level of long-term support earlier in the session, exacerbating the selling pressure. Since breaking below a key level of long-term uptrend support (in the 0.7180 area), AUD/USD has fallen
EUR/USD reverses Friday’s corrective pullback from two-week low. Yields consolidate the first negative weekly loss in five with eyes on Fed’s verdict, stock futures print mild gains. Russia-Ukraine fears, Omicron updates add to the watcher’s list, weigh on prices. Preliminary readings of January PMI, inflation data can act as buffers ahead of Wednesday’s FOMC. EUR/USD
US equities continued to fall on Friday after downbeat subscriber guidance from Netflix, whose shares dropped over 20%. The S&P 500 dropped another 1.6% towards 4400 after failing to test 4500 earlier in the session. The index is now down 5.4% on the week and has broken below its 200DMA for the first time since
GBP/JPY dropped 0.7% on Friday, falling from above 155.00 to around 154.00. Risk-off flows and soft UK data weakened sterling while safe-haven demand and lower global bond yields strengthened the yen. GBP/JPY fell sharply on Friday and heavy downside in the global equity market and commodity space weighed on more risk-sensitive currencies such as sterling,
Data released on Friday showed an increase in November retail sales in Canada of 0.7%, below the 1.2% of market consensus. Analysts at CIBC, point out the advance was modest in November, and warn that all of that ground and more appears to have been given back in December. Key Quotes: “Canadian retail sales posted
Gold (XAU/USD) prices reverse the previous day’s pullback from the highest levels since late November during early Friday. In doing so, the yellow metal cheers consecutive third day of the downbeat US Treasury yields, as well as risk-off mood amid the market’s cautious sentiment ahead of next week’s Federal Open Market Committee (FOMC). The metal cheered
NZD/USD is currently struggling to push above the 0.6800 level, hampered by resistance in the form of the 21DMA. The pair found support during APac trade at a trendline going back to mid-December. A break below this support could open the door to a push lower towards 0.6700. Though the pair does trade reasonably
Morgan Stanley (MS) reiterates its bearish bias for the Swiss Franc (CHF) in its latest research report, published early Thursday in Europe. The report initially said, “We maintain our bearish bias on CHF.” While giving reasons, the note cited expectations for four Fed rate hikes in 2022 to see the US 10-yr yields at 2.20%
Pound among top performers supported by UK CPI numbers. EUR/GBP extends slide, start looking at 0.8300. EUR/GBP extends slide and approaches 0The EUR/GBP broke to the downside and fell to 0.8312, reaching the lowest level since February 2020. It remains near the low, under pressure, looking at the 0.8300 area on the back of a