AUD/USD Plunges to 0.6600 Ahead of US CPI Data, Risk-Off Sentiment Prevails
AUD/USD faces a significant sell-off, dropping to 0.6600 as market uncertainty intensifies ahead of Tuesday’s US Consumer Price Index (CPI) release. Risk aversion favors safe-haven assets, weighing on the Aussie. Key Factors: Technical Outlook:
Silver Eyes YTD High Retest, Key Levels in Focus
Silver’s price maintains bullish momentum, edging closer to its year-to-date (YTD) high of $24.63. Despite a slight pullback from recent gains, buyers are defending the crucial March 7 close ($24.31). Bullish Scenario: Reclaiming $24.50 could trigger a retest of the YTD high ($24.63) and potentially open a path towards $25.00. Bearish Risks: A break below […]
AUD/USD Surges Above 0.6600 on Fed Rate Cut Expectations
The Australian Dollar (AUD) rallies against the US Dollar (USD) as market focus shifts to potential Fed rate cuts. Fed Chair Powell reiterated the possibility of cuts this year, though emphasized dependence on inflation data. US economic releases signal a slowing labor market, with rising jobless claims and a widening trade deficit. This further supports […]
EUR/USD Uptrend Continues, Eyes Key Resistance
The EUR/USD pair extended gains on Wednesday, buoyed by better-than-expected Eurozone Retail Sales figures and a surging German trade surplus. These releases suggest resilient European demand, contrasting with recent weaker US data and supporting the Euro. Germany’s January trade surplus exceeded forecasts, indicating strong demand for Euros from importers. Additionally, a recent survey highlights the […]
Pound Sterling Rallies Ahead of UK Budget, Eyes on Tax Policy
The Pound Sterling (GBP) surged towards the critical 1.2700 resistance during early New York trading, fueled by anticipation ahead of Wednesday’s UK Spring budget announcement. Chancellor Jeremy Hunt faces a delicate balancing act between addressing inflation, growth concerns, and potential tax cuts. Market hopes for early Bank of England (BoE) rate cuts could hinge on […]
EUR/USD Tests Chart Resistance Near 1.0860 Ahead of Critical Data and Central Bank Events
EUR/USD rallied towards 1.0860 to start the week, facing near-term technical resistance as traders await crucial US labor data and central bank events. The pair remains rangebound, mirroring market indecision as investors anticipate signals from the Federal Reserve (Fed) and the European Central Bank (ECB). Fed Chairman Jerome Powell’s testimony before Congress on Wednesday and […]
AUD/USD Stages Sharp Rebound from 0.6490, Eyes Key Data and Fed Signals
AUD/USD has executed a dramatic V-shaped recovery from 0.6490, fueled by renewed expectations that the Federal Reserve (Fed) could initiate rate cuts as early as June. This bullish sentiment has pressured the US Dollar, though market action remains mixed, with S&P 500 futures down while riskier currencies gain ground. The US Dollar Index, currently at […]
EUR/JPY Slides on Hawkish BoJ Comments, Weak Eurozone Inflation
EUR/JPY tumbled on Thursday, snapping a two-day win streak, following hawkish remarks from a Bank of Japan (BoJ) official and disappointing inflation figures from the Eurozone. Currently, at 162.00, the pair is down 0.80%. The decline pushed EUR/JPY below critical technical levels, breaching the Tenkan-Sen and testing a daily low of 161.68. Though a slight […]
USD/CAD Retreats After Mixed US GDP Data, Eyes Key Inflation Release
USD/CAD witnessed an early Wednesday rally above 1.3600 but quickly retreated back into its recent range following the release of mixed US Gross Domestic Product (GDP) figures. Market focus now shifts to Thursday’s US Personal Consumption Expenditure Price Index (PCE), the Federal Reserve’s (Fed) preferred inflation gauge. Canada’s Q4 Current Account data disappointed expectations, but […]
NZD/USD declines to 0.6150 on Tuesday
NZD/USD declines to 0.6150 on Tuesday as the US Dollar finds temporary support. The Kiwi asset faces selling pressure amid expectations that the Reserve Bank of New Zealand (RBNZ) will hold its Official Cash Rate (OCR) steady at 5.50%. RBNZ Governor Adrian Orr recently highlighted economic risks associated with overly aggressive monetary tightening while acknowledging […]
