The British pound fell toward $1.310, its weakest level since April, after Chancellor Rachel Reeves’ speech signaling upcoming tax hikes, while investors awaited Thursday’s Bank of England meeting. Markets now see about a near-50/50 chance of a 25-basis-point rate cut this week, up from near zero after softer inflation and other weak economic data. Reeves, […]
Forex
Forex
Forex
04
Nov
Nov
Trade of The Day – USD/JPY
Facts: Recommendation: LONG position on USDJPY at market price. USDJPY (D1) Source: xStation5Opinion: There remains a significant discrepancy between interest rate levels in Japan and the USA, which will support the strength of the dollar against the Japanese yen. The structure of the EMA averages also favors the dollar, particularly the crossing of the EMA100 […]
04
Nov
Nov
EUR/USD ticks up from three-month lows as US Dollar eases
EUR/USD is trading with marginal gains on Tuesday, changing hands at 1.1525 at the time of writing after hitting fresh three-month lows earlier on the day. The pair, however, remains vulnerable, following a nearly 1.3% sell-off in the last four trading days, as the US Dollar (USD) surged following a “hawkish cut” by the Federal Reserve (Fed) last […]
04
Nov
Nov
Chart of The Day – AUD/USD
RBA held the cash rate steady at 3.6% in a unanimous decision amid renewed inflation pressures and a tight labor market. Governor Michele Bullock stated the board has no predetermined stance on future rate moves, emphasizing data dependency and uncertainty. Key headlines: Governor Michele Bullock emphasized that the board has no predetermined stance on future […]
04
Nov
Nov
EUR/GBP gathers strength above 0.8750, BoE rate decision in focus
The EUR/GBP cross gains traction to near 0.8775, snapping the two-day losing streak during the early European session on Tuesday. The Pound Sterling (GBP) softens against the Euro (EUR) amid uncertainty surrounding the Bank of England’s (BoE) interest rate decision, which will be scheduled on Thursday. The BoE is anticipated to hold the interest rates at 4.0% at its November policy meeting on […]
04
Nov
Nov
USD/INR declines on possible RBI’s intervention into local spot market
The Indian Rupee (INR) jumps to near 88.50 in the opening session against the US Dollar (USD) on Tuesday. The USD/INR pair faces a sharp selling pressure as the Indian Rupee strengthens on hopes that the Reserve Bank of India (RBI) has intervened in the currency market to support the Indian Rupee. The RBI likely intervened to […]
04
Nov
Nov
USD/CHF climbs to over two-month high; bulls await move beyond 0.8100 amid firmer USD
The USD/CHF pair attracts buyers for the fifth consecutive day and climbs to its highest level since August 22 during the Asian session on Tuesday. The momentum lifts spot prices to the 0.8100 neighborhood and is sponsored by sustained US Dollar (USD) buying. The USD Index (DXY), which tracks the Greenback against a basket of currencies, […]
04
Nov
Nov
South Korean Won Weakens to 7-Month Low
The South Korean won depreciated to around 1,440 per dollar, extending declines for a fourth day to its weakest level in almost seven months despite higher than expected domestic inflation. Consumer prices in South Korea climbed 2.4% in October, the fastest pace in over a year and exceeding market forecasts, supporting expectations that the Bank […]
04
Nov
Nov
Yen Rises on Finance Minister Remarks
The Japanese yen strengthened past 154 per dollar on Tuesday, rebounding slightly from nine-month lows after Finance Minister Satsuki Katayama reiterated that authorities are monitoring rising volatility in foreign exchange markets with a strong sense of urgency, warning against sharp, one-sided currency moves. In March, Katayama had suggested the yen’s fair value was around 120–130 […]
04
Nov
Nov
Australian Dollar pares losses following cautious RBA’s Bullock
Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) on Tuesday, following the cautious remarks from the Reserve Bank of Australia (RBA) Governor Michele Bullock. Bullock spoke at the post-meeting press conference, highlighting the need for less policy easing in this meeting. The Reserve Bank of Australia (RBA) decided to maintain the […]
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