EUR/USD found little support from ECB Economic Bulletin
EUR/USD tested into a near-term low of 1.0741 on Thursday as the latest Economic Bulletin from the European Central Bank (ECB) provided little new information for investors looking for guidance on when to expect rate cuts. The ECB continues to grapple with a lopsided European economy. Euro area price pressures remain higher than the ECB […]
Canadian Dollar found a little room but remains sedate in midweek trading
The Canadian Dollar (CAD) saw soft gains on Wednesday as markets steadily ate away at last week’s surge in the US Dollar (USD) that sent the Loonie skidding into multi-month lows. The Canadian Dollar is sticking close to firmly entrenched median bids against the Greenback as broad-market momentum bleeds into the midrange. Canada sees January’s […]
The EUR/GBP trades lower at 0.8540,with a 0.30% drop
In Tuesday’s session, the EUR/GBP pair was seen taking a dip to 0.8540, falling below the 20-day Simple Moving Average (SMA). The mix of hawkish US Federal Reserve bets, rising US Treasury yields, and negative Eurozone Retail Sales figures from December, drove down the cross. Technically speaking, bears still dominate the daily chart while indicators […]
USD/TRY: The lira depreciates further north of 30.0000
Further selling pressure keeps hurting the lira and propels USD/TRY to a new record high near 30.6000 at the beginning of the week. Unsurprisingly, the Turkish currency depreciated further on Monday and bolstered the still unabated upward bias in USD/TRY, this time further north of the 30.0000 mark, and it should be a matter of […]
USD/JPY could approach the psychological resistance at 147.00
USD/JPY snaps its two-day losing streak on the weaker US Dollar (USD), trading higher around 146.70 during the European session on Friday. The psychological level at 147.00 appears to be the immediate resistance. A breakthrough above this resistance level could reinforce the pair’s strength to reach the nine-day Exponential Moving Average (EMA) at 147.12. In […]
EUR/GBP sees more downside below 0.8500
The EUR/GBP has been heavily dumped by the market participants as the Bank of England (BoE) has kept interest rates unchanged at 5.25%. The BoE was expected to leave interest rates steady for the fourth straight time, but hawkish guidance has improved the appeal for the Pound Sterling. Out of the nine-member led Monetary Policy […]
Gold price dips within the $2030 – $2040 range
Gold price trims earlier gains and retreats after the US Federal Reserve decided to keep rates unchanged while pushing back against speculation of rate cuts. In addition, the US Federal Reserve Chair Jerome Powell, pushed back against rate cuts in March, driving the yellow metal price towards the day lows. At the time of writing, […]
Mexican Peso notches minor gains with USD/MXN trading at 17.23
The Mexican Peso holds minuscule gains versus the US Dollar in early trading during the North American session, sponsored by economic data from Mexico. In the US, the release of the JOLTs reports and Conference Board (CB) Consumer Confidence data could underpin the Greenback (USD), ahead of the US Federal Reserve (Fed) monetary policy decision […]
EUR/USD backslides as ECB headlines stoke ECB rate cut bets
EUR/USD fell to its lowest bids since mid-December, testing the 1.0800 handle after European Central Bank (ECB) officials left the doors wide open for rate cuts much earlier than investors had previously anticipated. Europe delivers a round of Gross Domestic Product (GDP) figures on Tuesday, headlined by pan-European GDP growth for the fourth quarter at […]
DXY Index records a loss, unable to consolidate past 200-day SMA
The US Dollar (USD) Index is presently grappling with losses, trading at 103.35 on the DXY, in response to the release of softer Personal Consumption Expenditures (PCE) data for December, which gave the doves hope of earlier rate cuts. In that sense, market expectations hint at a possible rate cut by the Fed in March. […]
