US Dollar Continues Upward Momentum Amid Economic Data and Fed Signals
The US Dollar (USD) has entered volatile trading on Friday, attempting to extend its winning streak to six consecutive sessions. Positive economic data and Federal Reserve (Fed) commentary have created a mixed but broadly supportive environment for the Greenback. The US Dollar Index (DXY) sees heightened activity, with traders eyeing critical levels amid shifting rate […]
EUR/GBP: Bearish Bias Prevails Despite Temporary Rebound
The EUR/GBP pair has experienced a temporary rebound, but the overall bearish trend remains intact. The pair is still trading below its 20-day SMA, indicating a short-term bearish bias. Key Technical Indicators: Support and Resistance Levels: While the recent rebound may offer a short-term buying opportunity for traders, it’s important to be cautious as the […]
USD/JPY Retreats on Japanese PPI Data, Holds Overall Uptrend
USD/JPY has pulled back from a three-month high following a surprising rise in Japan’s October Producer Price Index (PPI), which lifted the Japanese Yen (JPY). The increase in Japanese factory-gate inflation could eventually influence consumer prices, prompting speculation that the Bank of Japan (BoJ) may consider raising interest rates sooner. Higher interest rates often strengthen […]
Gold Falls to Key Trendline as Strong USD Weighs
Gold (XAU/USD) has dropped to a seven-week low near $2,600, pressured by a stronger US Dollar driven by optimism around President-elect Trump’s economic policies, which are expected to boost inflation and influence Federal Reserve policy. With Trump’s pledges of tariffs, tax cuts, and stricter immigration, markets are pricing in a slower pace of Fed rate […]
GBP/USD Price Forecast: Dips Below 1.2900 on Risk Aversion
The British Pound is off to a weak start, dropping over 0.3% against the US Dollar (USD) due to growing concerns about potential tariffs under President-elect Donald Trump. This has reduced risk appetite, pushing the GBP/USD pair below 1.2900, currently trading at 1.2876. Technical Outlook for GBP/USD Technically, GBP/USD is in a consolidative but slightly […]
Gold Edges Lower Amidst Rising Interest Rate Expectations
Gold prices have declined, extending a short-term bearish trend. This decline is primarily attributed to expectations of higher interest rates due to the recent election results and economic indicators like the Michigan Consumer Sentiment Survey. Key Factors Influencing Gold Prices: Technical Analysis:
Pound Sterling Rises After BoE Rate Cut
The Pound Sterling has strengthened after the Bank of England (BoE) cut interest rates by 25 basis points to 4.75%. While the rate cut was expected, the BoE’s dovish forward guidance has also supported the Pound. Key Factors Influencing the Pound Sterling: Technical Analysis: The Pound Sterling has recovered from recent lows, but the near-term […]
GBP/USD Plummets After Trump’s Win, Technical Outlook Turns Bearish
The British Pound Sterling tumbled more than 1.20% against the US Dollar on Wednesday as fears of increased trade tensions under Trump’s leadership weighed heavily on the currency pair. Cable has experienced its sharpest decline since October 3, with the GBP/USD currently trading at 1.2881, having earlier peaked at 1.3047. The GBP/USD pair broke below […]
EUR/GBP Consolidates, Awaits Directional Cue
The EUR/GBP pair has been trading sideways recently, caught in a range-bound phase. The market seems to be waiting for a catalyst to break this consolidation and establish a clear directional bias. Technical Analysis: Potential Outlook:
AUD/USD Holds Gains Ahead of RBA and US Elections
The AUD/USD pair is holding onto gains near the 0.6600 level as the US Dollar weakens ahead of the US presidential elections and the Reserve Bank of Australia’s (RBA) monetary policy decision. The US Dollar Index (DXY) has declined significantly, driven by a recent poll showing Vice President Kamala Harris gaining ground against former President […]
