Canadian Dollar recovers in back half of trading week
The Canadian Dollar (CAD) found some bidders on Thursday even as the US Dollar Index (DXY) saw a recovery after US Gross Domestic Product (GDP) figures bolstered the broader market. Canada wrapped up its presence on the economic calendar’s data docket this week after Wednesday’s rate statement from the Bank of Canada (BoC). Canadian Dollar […]
GBP/USD advances 0.46%, buoyed by robust UK PMI figures
The GBP/USD climbed during the mid-North American session on Wednesday after economic data suggested the UK’s economy remains solid after a release of strong PMI figures. That and soft US Dollar, which are the reasons supporting Sterling’s advance. At the time of writing, the major trades at 1.2726 gaining 0.36%. UK Flash PMIs for January […]
The EUR/GBP slightly recovered to 0.8555
In Tuesday’s trading session, the EUR/GBP stabilized at 0.8555 after hitting its lowest level since September lows around 0.8545. Weak Consumer Confidence data from the European Commission, weakened the Euro, while the Pound has a slight advantage as markets bet on less easing of the Bank of England (BoE) in 2024. As for now, the […]
EUR/USD continues to get vexed by 1.0900 level in the near term
The EUR/USD is shuffling its feet on Monday as traders take the opportunity to gather themselves up ahead of this week’s hectic showing from multiple central banks across the globe. Europe sees an update from the European Central Bank’s (ECB) Bank Lending Survey and January’s preliminary Consumer Confidence, both due on Tuesday. Wednesday drops a […]
Mixed US Data Influence: GBP/USD impacted by contrasting US data
The Pound Sterling (GBP) slumped against the US Dollar (USD) after the Office for National Statistics (ONS) revealed that retail sales plunged sharply, which could deter the Bank of England (BoE) from keeping policy tight without tapping the economy into a recession. Mixed data from the United States (US) sponsored a leg-down in the major, […]
AUD/USD has faced selling pressure near 0.6570
The AUD/USD pair retreats from 0.6570 as the US Dollar Index (DXY) has recovered swiftly in the early New York session. The Aussie asset has faced pressure as the market mood has turned cautious amid uncertainty over Federal Reserve (Fed) rate cut bets. The S&P500 futures have surrendered majority of gains generated in the European […]
The EUR/GBP navigates below the 0.8600 level
The EUR/GBP declined in Wednesday’s session, mainly influenced by the dovish stance from the European Central Bank (ECB) and UK inflation data, which surpassed expectations, boosting the Pound. The UK Office for National Statistics (ONS) ONS has announced a faster growth rate for headline inflation at 0.4%, rebounding from November’s 0.2% contraction. In addition, the […]
The US Dollar traded in the green across the board on Tuesday
The US Dollar (USD) is squeezing out Greenback bears with its move on the outcome of the first Caucus election for the Republican Party (GOP) candidate who will pick up the gloves against Joe Biden in the presidential runoff later this year. Former US President Donald Trump won with a clear landslide victory of nearly […]
15.01 – WTI Oil slips back below the line in the sand at $74
Oil prices are retreating further despite several geopolitical, with traders choosing to ignore them because of no repercussions for the oil supply at the moment. The main risk event is a possible retaliation or action from China against the election outcome in Taiwan where the ruling Democratic party won with its demands for more sovereignty […]
12.01 – Gold price climbs slightly above $2,050
Gold price (XAU/USD) has generated significant gains as investors are confident about an interest rate cut by the Federal Reserve (Fed) at its monetary policy meeting on March 20 – such a move would support non-yielding assets such as Gold. The probabilities of an early interest rate cut are assessed as firmer despite consumer price […]
