EUR/USD extends the bearish note to the 1.2100 area. EMU’s Retail Sales contracted 3.1% MoM in April. Lagarde speaks on Climate later in the session. The leg lower in EUR/USD picks up further pace and stays on collision course with the 1.2100 key support on Friday. EUR/USD focused on data EUR/USD accelerates the downside and
FX
GBP/USD hits weekly lows under 1.4100 as the US dollar soars The GBP/USD is falling more than 50 pips and is back under the 20-day moving average for the first time in a month. A rally of the US dollar across the board sent cable to the 1.4100 area, after trading above 1.4200, during the
EUR/USD fades the initial optimism and recedes below 1.2200. The dollar attempts a recovery ahead of key data releases. Final May EMU Services PMI came in above consensus. The single currency resumes the downside after a positive start of the session and now drags EUR/USD back below the key support at 1.2200 the figure. EUR/USD
GBP/USD turns positive on the day above 1.4160 GBP/USD reversed its direction after dropping toward 1.4100. US Dollar Index retreated modestly from daily highs. UK PM Johnson says they are on track to end restrictions on June 21. The GBP/USD pair fell to a fresh daily low of 1.4112 during the European session but didn’t
The Reserve Bank of Australia (RBA) “will have to wait and see the economic impact of lockdown in Victoria”, Deputy Governor Guy Debelle said in a scheduled speech on Wednesday. Additional quotes “Do not expect wage growth to be high enough until 2024. “ “Hoping for wage growth at 3+% in 2024. “ more to come
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet
GBP/USD maintains the strong tone following its bullish “outside day” for a break to a new cycle high. Economists at Credit Suisse look for a move to their first core upside target of 1.4302/77 – the 2018 highs and 50% retracement of the 2014/2020 bear trend. Support at 1.4155 ideally now holds “With a base
GBP/JPY bulls in charge to the hourly resistance level. Bears seeking a retracement according to the daily chart. GBP/JPY is on the bid according to the lower time frames but there is a risk in banking on the impulse according to the daily chart. The following illustrates a bearish bias on the daily chart to
EUR/JPY is heading to the top of its channel at 134.73 though RSI has not confirmed the new high. Therefore, the pair could struggle to extend its recent advance, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Uptrend at 131.19 underpins euro/yen “EUR/JPY last week closed above 133.13/48, these were the
AUD/USD bulls seeking deeper test of the daily resistance zone. Bears need to take out daily support at this juncture while the RBA comes as a major hurdle for AUD AUD/USD will be the focus for the open on Monday given the economic calendar’s line up which considers Chinese PMIs as the main data for
Previewing next week key data releases from the US, “payrolls probably rose strongly by pre-covid standards but we see some downside risk versus the consensus again this month,” said TD Securities anaysts. Key quotes “Our forecast implies a still-sizeable 7.7mn net decline from the pre-COVID level. The unemployment rate probably resumed its downtrend after a surprising
GBP/USD trims losses as the US dollar pulls back, remains in the range The GBP/USD bottomed before the release of US data at 1.4135 amid a rally of the US dollar across the board. Afterward, the greenback lost strength favoring a rebound in cable back above 1.4150. The intraday bias still points to the downside
Turkish Finance Minister Lutfi Elvan said on Friday that he expects the economy to grow by 6% in the first quarter, as suggested by the economic indicators. Additional comments “Expected this trend to continue with the support of external demand.” “Government’s priorities are price stability, controlling current account deficit, boosting labor market.” more to come
NZD/USD has been bid on the day as the US dollar pulls back. A slightly risk-on tone has helped to support the commodity complex on Thursday. NZD/USD has, for the most part, remained in the hands of the bulls following this week’s surprise hawkish outcome of the Reserve Bank of New Zealand. At the time
Silver once again managed to find decent support near the $27.45 confluence support. Mixed oscillators on hourly/daily charts warrant caution before placing directional bets. Silver attracted some dip-buying near the lower end of its weekly trading range, around the $27.45 region and refreshed daily tops during the early part of the European session. The mentioned
What you need to know on Thursday, May 27: The American dollar edged lower at the beginning of the day but ended it with gains against most of its major rivals. Stocks seesawed between gains and losses while US government bond yields remained subdued, somehow indicating that speculative interest is finally taking note of US
The US dollar is lurching lower with some key developments pointing to further weakness over the short-term such as USD/CNY – a key currency pair not just for Asia but for G10 also – breaking key technical support at 6.4000 with no obvious sign of opposition from the Chinese authorities, economists at MUFG Bank report.
USD/CAD is currently consolidating around the lowest levels since 2017. Bulls are looking for an upside correction on a monthly basis as accumulation kicks in. Funds travelled between a high of 1.2078 and 1.2029 on the day with some upside pressure, rising 0.12% at the time of writing. The loonie edged lower against its broadly