EUR/USD seesawed within the 1.1650-1.1635 range on Wednesday as the Federal Reserve (Fed) cut rates by 25 basis points, as expected, yet there were two dissenters at the meeting. At the time of writing, the pair trades volatile, as traders await the Fed Chair Jerome Powell’s press conference. Dollar swings as traders await Powell’s tone for clues on future […]
USD
USD
USD
29
Oct
Oct
USD/CNH: Continued decline below 7.0860 is unlikely – UOB Group
US Dollar (USD) could test 7.0860; a continued decline below this level is unlikely. The next support at 7.0700 is also unlikely to come under threat. In the longer run, the price action suggests USD could drop below 7.0860; the next level to watch is 7.0770, UOB Group’s FX analysts Quek Ser Leang and Peter […]
29
Oct
Oct
EUR/USD fluctuates within previous ranges with all eyes on the Fed
EUR/USD retreats on Wednesday to snap a five-day rally, trading at 1.1640 at the time of writing, yet with downside attempts limited above the 1.1615 area. A somewhat firmer US Dollar, ahead of the Federal Reserve’s monetary policy decision due later today, is weighing on the pair. However, the positive risk sentiment policy is keeping Greenback […]
29
Oct
Oct
Chart of The Day – AUD/USD
AUDUSD gains 0.25% on the back of Australia’s strongest CPI inflation data in over a year, which reduces the likelihood of further rate cuts. Hawkish expectations toward the Reserve Bank of Australia (RBA), coupled with a broader risk-on sentiment and renewed optimism over a potential U.S.-China trade peace, are making the Australian dollar the best-performing G10 […]
29
Oct
Oct
Korean Won Strengthens on Trade Deal Signal
The South Korean won appreciated to 1,425 per USD, extending the rebound from the over six-month low of 1,440 touched on October 24th amid the stronger outlook for Korean export industries under signals of new trade deal with the US. US President Trump announced a likely new trade deal with Korea after meeting with President […]
29
Oct
Oct
South Korean Won Slips Amid APEC Summit
The South Korean won weakened to around 1,433 per dollar on Wednesday, extending losses for the second session as investors remained cautious amid the APEC summit talks in Gyeongju. Authorities maintain a neutral assessment of the prospects for progress, stating that the administration is “neither optimistic nor pessimistic”. Discussions are expected to concentrate on the […]
29
Oct
Oct
Offshore Yuan Hovers Near 1-Year High
The offshore yuan traded around 7.09 per dollar on Wednesday, hovering near a one-year high as optimism persisted ahead of the highly anticipated meeting between Presidents Donald Trump and Xi Jinping. Trump indicated that he expects to reduce fentanyl-related tariffs on China ahead of the meeting in South Korea later this week, following reports that […]
29
Oct
Oct
EUR/USD softens below 1.1650 ahead of Fed rate decision
The EUR/USD pair loses ground to near 1.1635 during the Asian trading hours on Wednesday. Optimism surrounding US-China trade deals weighs on the riskier currency, like the Euro (EUR) against the US Dollar (USD). Traders brace for the Federal Reserve (Fed) interest rate decision later on Wednesday. On Thursday, the attention will shift to the European Central Bank […]
29
Oct
Oct
NZD/USD sits near three-week top; stays below 0.5800 amid modest USD uptick, ahead of Fed
The NZD/USD pair touches a nearly three-week high during the Asian session on Wednesday, though it lacks follow-through buying and remains below the 0.5800 round figure. The fundamental backdrop, however, seems tilted in favor of bulls and backs the case for an case for an extension of the recent goodish recovery move from the 0.5730-0.5725 region, […]
29
Oct
Oct
GBP/USD falls to near 1.3250 due to increased BoE rate cut bets, Fed policy awaited
GBP/USD loses ground for the second successive session, trading around 1.3250 during the Asian hours on Wednesday. The pair weakens as the Pound Sterling (GBP) declines following data from the British Retail Consortium (BRC) showing UK food prices falling at the fastest pace in nearly five years, strengthening expectations of upcoming Bank of England (BoE) […]
Learn to Trade
Merchant Services
Currency Risk Management
