USD/CAD bulls keep the reins around 1.3230 as they prod the intraday high heading into Tuesday’s European session amid a firmer US Dollar and a retreat in Canada’s key export item WTI crude oil. In doing so, the Loonie pair consolidates the biggest daily loss in a fortnight ahead of the July activity data from the […]
Forex
Forex
Forex
01
Aug
Aug
AUD/USD Price Analysis: Aussie pair extends post-RBA losses towards 0.6630 support confluence
AUD/USD drops 0.90% intraday to 0.6655 heading into Tuesday’s European session as the Aussie pair reverses the previous day’s recovery moves after the Reserve Bank of Australia’s (RBA) second consecutive inaction. In doing so, the risk-barometer pair also justifies the downside break of an ascending trend line from Friday, as well as the looming bear […]
01
Aug
Aug
Pound Sterling demonstrates caution ahead of key central bank policy
The Pound Sterling (GBP) looks vulnerable as investors remain cautious ahead of the interest rate decision by the Bank of England (BoE), which will be announced on Thursday. The GBP/USD pair fails to discover strength as a widely anticipated interest-rate hike by the BoE will deepen recession fears. UK Treasury Advisers already warned that an aggressive rate-tightening […]
01
Aug
Aug
Euro resumes downtrend, breaches 1.1000 ahead of key data
During the first half of the week, the Euro (EUR) continued to face selling pressure against the US Dollar (USD), causing EUR/USD to once again decline below the 1.1000 level on turnaround Tuesday. Meanwhile, the Greenback remained strong and supported the USD Index (DXY) in its attempt to break the significant resistance level around 102.00. This strength in the […]
01
Aug
Aug
EUR/USD: There are some downside risks to the 1.0900 handle – ING
EUR/USD limps back below 1.10. Economists at ING analyze the pair’s outlook. Markets too dovish? The door is open for another hike by the ECB before the end of the year, even in September. Markets, however, remain reluctant to endorse this scenario and only price in 17 bps of tightening by December, likely having read last week’s […]
01
Aug
Aug
Sterling struggles on days when BoE raises rates – SocGen
Economists at Société Générale analyze GBP outlook ahead of the BoE meeting on Thursday. August seasonals bearish for GBP/USD, bullish for EUR/GBP Suspense around the BoE rate decision on Thursday should keep sterling on a knife edge with price action before the announcement likely to depend on the US manufacturing ISM data today and ADP employment on […]
01
Aug
Aug
USD/CNH: Bulls remain focused on 7.2000 – UOB
The surpass of 7.200 would most likely reduce bets of a drop to 7.1000 in USD/CNH, argue Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB. Key Quotes 24-hour view: We held the view yesterday that USD “is under mild downward pressure and is likely to edge lower.” We were also of the […]
05
Jun
Jun
USD/CAD kick-starts BoC week on dicey floor above 1.3400 amid sturdy Oil price.
USD/CAD aptly portrays the Loonie traders’ anxiety above 1.3400, up 0.05% intraday near 1.3435 at the latest, as the key week comprising the Bank of Canada (BoC) Monetary Policy Decision and Canadian employment data begins with unimpressive moves. In addition to the pre-data/event caution, firmer prices of Canada’s main export item Crude Oil and the upbeat US […]
05
Jun
Jun
AUD/USD rebounds from intraday low of 0.6590 on upbeat China Caixin Services PMI.
AUD/USD pares intraday losses around 0.6600 after China’s private activity gauge flashes upbeat signals during early Monday. Adding strength to the Aussie pair’s corrective bounce could be the initial Asian session release suggesting higher inflation in Australia. That said, China’s Caixin Services PMI matches 57.1 market forecasts for May versus 56.4 previous readings. Earlier in […]
05
Jun
Jun
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WTI crude oil surpasses $75 amid OPEC+ and geopolitical events, despite firm USD
WTI crude oil pares intraday gains around $73.20, after the week started with a gap towards the north, as headlines suggesting challenges to the Oil output contrast with the US Dollar’s run-up. Also likely to weigh on the black gold could be the cautious mood ahead of the key China and US data, as well as the […]