NZD/USD continues with the previous week’s selling pressure on Monday. US Dollar Index remains steady near 93.0 on stronger NFP report. Upbeat Chinese Trade data and interest rate hike expectations keep New Zealand’s dollar grounded. NZD/USD extends the previous session’s downside momentum in the Asian session on the first day of the fresh trading week.
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GBP/USD drops to one-week lows under 1.3875 amid a rally of USD US dollar extends gains during the American session as US yields soar. Cable fails to hold to weekly gains, drops below 1.3900. The GBP/USD extended the decline to 1.3860, the lowest level in a week, on the back of a stronger US dollar
GBP/USD has weathered dollar strength after the Bank of England (BoE) took a hawkish step. A bigger test is due now. Will Nonfarm Payrolls outweigh the pound’s resilience or not? The answer will be known soon enough, Yohay Elam, an analyst at FXStreet, briefs. See – NFP Preview: Forecasts from seven major banks for July jobs
AUD/USD holds on to the recovery moves from 0.7370, edges higher of late. Market sentiment improves on stimulus hopes, Fed’s optimism and upbeat data. Covid woes, tapering chatters challenge bulls but Wall Street ended on positive note, US T-Bond Yields stay firmer. RBA Governor Lowe’s testimony, China trade data and US NFP will decorate the
A modest pickup in demand for the GBP prompted fresh selling around EUR/GBP on Thursday. The improving COVID-19 situation in the UK continued acting as a tailwind for the British pound. The latest BoE monetary policy decision will now be looked upon for a fresh directional impetus. The EUR/GBP cross extended its steady intraday descent
AUD/USD holds onto pullback from three-week top, remains pressured of late. Comments from Fed Vice Chair Clarida, US Treasury Secretary Yellen renew tapering woes, US dollar strength. Aussie infection ease but the return of local lockdowns in China and virus fears in the US weighs on sentiment. Aussie trade numbers eyed for immediate direction but
AAPL shares rebound on Tuesday, up 1.3% on the day. Apple looks technically bearish but has yet to trigger its double top. AAPL stock showing bearish divergence on RSI. Apple stock pout in a pretty solid day on Tuesday closing up 1.3% at $147.36. The markets were a little shaky early on with big tech
NZD/USD awaits the NZ labour market data for the day. Bird is firmer on the market’s interpretation of RBNZ comments and factoring in prospects of an August rate hike. At the time of writing, NZD/USD is starting out in early Asia near the highs of the day and 0.72% before the forex close at the top
UOB Group’s FX Strategists reiterated the mixed outlook for USD/CNH in the near term. Key Quotes 24-hour view: “USD traded between 6.4599 and 6.4729 yesterday, narrower than our expected range of 6.4525/6.4750. The movement is viewed as part of an on-going consolidation phase. In other words, USD could continue to trade sideways, expected to be
What you need to know on Tuesday, August 3: Market players were optimistic at the beginning of the day, with the dollar easing against its major rivals. The sentiment took a turn for the worse during American trading hours, amid signs of slowing economic progress in the US. The official ISM index contracted from 60.6
In opinion of FX Strategists at UOB Group, the outlook for USD/CNH remains mixed for the time being. Key Quotes 24-hour view: “Last Friday, we expected USD to ‘trade between 6.4500 and 6.4750’. USD subsequently traded within a narrower range than expected (6.4514/6.4725) before closing little changed at 6.4633 (+0.09%). The movement is deemed as
AUD/USD bears are back in town as the price fails to rally beyond resistance. RBA, covid, Fed, China, iron ore and US jobs data are all critical for the week ahead. AUD/USD ended the day on Friday under heavy pressure, down 0.7% falling from a high of 0.7404 to a low of 0.7331. The US dollar
Despite closing the week below the all-important 200-Daily Moving Average (DMA) at $1821, gold price recorded weekly gains, courtesy of the dovish Fed decision and escalating coronavirus concerns globally. The findings of the latest Reuters poll of 38 analysts also back the case for a modesty rally in gold price this year, with the precious
The purchasing managers’ index (PMI) for China’s manufacturing sector dropped to 50.4 in July from 50.9 in June, the latest data published by the National Bureau of Statistics (NBS) showed Saturday. The actual data missed the consensus estimate of 50.8. Meanwhile, the Non-Manufacturing PMI eased slightly to 53.3 in July from 53.5 in June. A reading above
GBP/USD drops further to 1.3890, but secures weekly gains Dollar gains momentum late on Friday and trims weekly losses. Cable heads for biggest weekly gain since May. Next week’s key events: NFP and Bank of England meeting. The GBP/USD failed to hold to gains on Friday and tumbled to 1.3890, reaching the lowest levels since
Today, I am following up on the article I posted in May 2021, which was looking for Microstar to bottom imminently for the next leg higher. You can view this article here The stock has bottomed as expected, and has started to rally and show signs that the next leg higher is underway. Here’s the
EUR/GBP struggled to capitalize on its modest intraday gains. Softer German GDP print held the euro bulls from placing bets. Improving COVID-19 situation in the UK further capped gains. The EUR/GBP cross retreated few pips during the early European session and was last seen hovering near the lower end of its daily trading range, around
AUD/USD bulls in charge despite woes n the horizon for AUD. Fed takeaways are balanced but central bank divergence is bearish for AUD/USD. AUD amongst commodity-fx underperformed, reflecting the concerns around the Sydney lockdown and the implications this will have for next week’s RBA meeting. However, vs the greenback, it rallied all the way to