The AUD/USD pair remains under some selling pressure for the second successive day on Wednesday and continues losing ground through the early European session. Spot prices drop to a near two-month low, around the 0.6575 region in the last hour, and seem vulnerable to prolonging the recent downward trajectory witnessed over the past three weeks […]
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01
Aug
Aug
Euro remains depressed in the sub-1.1000 zone ahead of US docket
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
Gold Price Forecast: XAU/USD remains under pressure below $1,960, US ISM PMI eyed
The gold price loses momentum around $1,955 heading into the early European session. XAU/USD faces some follow-through selling as US-China tensions over access to technology escalate, and the US Dollar strengthens across the board. Meanwhile, the US Dollar Index (DXY), a measure of the value of the Greenback against a basket of six major currencies, gains momentum […]
01
Aug
Aug
Natural Gas Futures: Further decline appears in store near term
Considering advanced prints from CME Group for natural gas futures markets, open interest went up by nearly 3K contracts at the beginning of the week, extending the ongoing erratic activity. On the other hand, volume dropped for the second session in a row, this time by nearly 29K contracts. Natural Gas remains stuck within $2.50-$2.90 […]
01
Aug
Aug
USD/JPY stands tall near multi-week high, trades below 143.00 ahead of US macro data
The USD/JPY pair builds on last week’s solid bounce from the 138.00 neighbourhood and climbs to over a three-week high on Tuesday, summing to a rally of around 475 pips over the past three trading days. Spot prices stick to the modest intraday gains through the early European session and currently trade around the 142.70 […]
01
Aug
Aug
USD/CAD sticks to mild gains above 1.3200 as Oil drops towards $81.00, focus on US/Canada PMI
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 […]
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
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 […]