The GBP/JPY cross trades with a positive bias for the second straight day on Wednesday and climbs back above the 206.00 mark during the early part of the European session. Spot prices look to build on the overnight bounce from the vicinity of a one-week low, touched on Monday, though a combination of diverging forces […]
The EUR/USD pair extends its upside to around 1.1635 during the Asian trading hours on Wednesday. Signals that the European Central Bank (ECB) is done cutting interest rates provide some support to the Euro (EUR) against the US Dollar (USD). ECB President Christine Lagarde noted last week that borrowing costs are at the “right level.” The ECB is anticipated […]
The NZD/USD pair attracts some buyers to around 0.5750 during the early European session on Wednesday. The upbeat Chinese economic data provides some support to the China-proxy Kiwi against the US Dollar (USD). The attention will shift to the release of the US ADP Employment Change and ISM Services Purchasing Managers Index (PMI) data later on Wednesday. […]
The GBP/USD pair gains traction to near 1.3235 during the early European session on Wednesday. The US Dollar (USD) remains weak against the Pound Sterling (GBP) amid growing expectations that the US Federal Reserve (Fed) will deliver a 25 basis points (bps) interest rate cut at its upcoming meeting next week. Hopes for a December Fed rate reduction […]
The EUR/GBP cross posts modest losses near 0.8795 during the early European trading hours on Wednesday. Nonetheless, the potential downside for the cross might be limited amid dovish expectations from the Bank of England (BoE), which might weigh on the Pound Sterling (GBP). Markets expect a potential interest rate cut from the UK central bank in December. […]
The South Korean won slipped toward 1,470 per dollar, hovering near seven-month lows as market sentiment remained pressured by ongoing capital outflows despite strong economic growth data. Bank of Korea data showed the economy grew at its fastest pace in nearly four years in Q3, with real GDP rising 1.3% quarter-on-quarter and 1.8% year-on-year. Nevertheless, […]
The USD/CAD pair clings to Monday’s recovery move to near 1.4010 during the Asian trading session on Tuesday. The Loonie pair bounced back on Monday as the US Dollar (USD) rebounded despite weak United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI) data for November strengthened the case for another interest rate cut by the Federal Reserve (Fed) this […]
The EUR/USD pair extends its upside to near 1.1615 during the Asian trading hours on Tuesday. The US Dollar (USD) weakens against the Euro (EUR) as weaker-than-expected US Manufacturing PMI data heaps pressure on the Federal Reserve (Fed) to cut interest rates later this month. Data released by the Institute for Supply Management (ISM) on Monday revealed that US manufacturing contracted for […]
GBP/USD soured on Monday, starting off the December trading window declining around one-quarter of one percent, pushing back down from a key technical confluence region that will likely inspire further short selling behind the Pound Sterling (GBP) unless global flows into the US Dollar (USD) reverse course. Pound struggles under the weight of political troubles Chancellor […]
The NZD/USD pair ticks lower during the Asian session on Tuesday and moves further away from an over one-month peak, around mid-0.5700s, touched the previous day. Spot prices currently trade near the 0.5720 region, though the fundamental backdrop warrants some caution for bearish traders and before positioning for deeper losses. The New Zealand Dollar (NZD) […]