The GBP/JPY cross jumps to a fresh high since December 2015 following the release of the UK employment details, with bulls now looking to build on the momentum further beyond the 185.00 psychological mark. The UK Office for National Statistics (ONS) reported that the ILO Unemployment Rate unexpectedly rose to 4.2% in three months through June from […]
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15
Aug
Aug
US Dollar Index Price Analysis: DXY slides below 103.30 resistance confluence as US Retail Sales looms
US Dollar Index (DXY) remains on the back foot at the intraday low of around 103.00 amid early Tuesday morning in Europe. In doing so, the Greenback’s gauge versus the six major currencies prints the first daily loss in four. That said, a convergence of the 200-DMA and a 5.5-month-old descending trend line restrict immediate […]
15
Aug
Aug
USD/CAD Price Analysis: Slides below mid-1.3400s, Canadian CPI/US Retail Sales in focus
The USD/CAD pair meets with some supply during the Asian session on Tuesday and erodes a major part of the overnight gains to a multi-day peak. Spot prices drop to a fresh daily low, below mid-1.3400s in the last hour and the intraday downtick could be solely attributed to some repositioning trade ahead of the […]
15
Aug
Aug
GBP/USD struggles to cheer US Dollar’s retreat near 1.2700 ahead of UK employment, US Retail Sales data
GBP/USD sticks to mild gains around 1.2700 as market players brace for the top-tier UK/US statistics on early Tuesday. That said, the Cable pair recently bounced off the lowest level in 1.5 months amid the US Dollar’s pullback but fails to extend the recovery moves amid cautious mood in the markets ahead of the data, […]
15
Aug
Aug
USD/INR Price Analysis: Indian Rupee stays on the way to refreshing record low past 83.00
USD/INR defends the previous day’s upside break of the key resistance line while sticking to mild intraday gains around the yearly high amid early Tuesday. With this, the Indian Rupee (INR) pair prints a three-day winning streak near 83.20 by the press time. Not only an upside break of the rising resistance line from early […]
15
Aug
Aug
XAU/USD hangs near multi-week low, just above $1,900 mark
Gold price struggles to gain any meaningful traction during the Asian session on Tuesday and languishes near its lowest level since June 6 touched the previous day. The XAU/USD manages to hold above the $1,900 mark, at least for the time being, though the bias still seems tilted in favour of bearish traders and supports […]
15
Aug
Aug
USD/CNH refreshes YTD top despite China banks’ defense of Yuan as PBoC cuts rates, economic fears grow
USD/CNH bulls cheer a slew of downbeat catalysts surrounding China to refresh the yearly high to 7.3126 during early Tuesday, close to 7.2940 by the press time. In doing so, the offshore Chinese Yuan (CNH) also ignores the US Dollar’s retreat from the monthly high ahead of the US Retail Sales data. However, comments from […]
15
Aug
Aug
China Stats Bureau Spokesperson cites economic recovery, major state-owned banks sell Dollars to defend Yuan
Early Tuesday morning, Reuters cites an anonymous source to state that China’s major state-owned banks were seen selling US Dollars to buy China Yuan (CNY) in the onshore spot foreign exchange (Forex) market. The news came in after the People’s Bank of China (PBoC) surprisingly cut the benchmark rates and fueled the USD/CNY to the […]
15
Aug
Aug
AUD/USD remains below 0.6500 mark after softer Chinese macro data, seems vulnerable
The AUD/USD pair struggles to capitalize on the previous day’s modest bounce from the vicinity of mid-0.6400s, or its lowest level since November 2022 and edges lower during the Asian session on Tuesday. Spot prices currently trade around the 0.6485 region, nearly unchanged for the day, and seem vulnerable to prolonging the recent downward trajectory witnessed over […]
15
Aug
Aug
EUR/USD Price Analysis: Euro bears keep reins below 1.0980 despite corrective bounce ahead of US Retail Sales
EUR/USD struggles to defend the corrective bounce off five-week low. Cautious mood ahead of US Retail Sales, holidays in multiple European markets prod Euro traders. Clear downside break of previously key supports favors EUR/USD bears to approach 1.0780 support confluence. 100-DMA, multi-month-old previous support line challenge recovery moves. EUR/USD remains sidelined near 1.0910 as it […]