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 […]
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 […]
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 […]
Gold Price (XAU/USD) stays on the bear’s radar for the second consecutive day as the precious metal renews intraday low near $1,945, extending the post-NFP losses amid to early Monday amid firmer US Dollar and the Treasury bond yields. That said, the US Dollar Index (DXY) prints mild gains around 104.12 as it keeps the previous day’s recovery […]
The USD/INR pair has displayed immense selling pressure at open as investors are discounting the impact of the overnight sell-off in the US Dollar Index (DXY). The asset has dropped to near the crucial support at 82.50. S&P500 futures have added nominal gains in the Asian session after a bearish Wednesday. The overall market mood […]
EUR/USD portrays the pre-data anxiety around 1.0690 amid very early Thursday morning in Europe. In doing so, the Euro pair fails to cheer the market’s risk-on mood, as well as receding hawkish bets on the Federal Reserve (Fed) ahead of the top-tier data/events scheduled for publishing in the US and Europe. On Wednesday, Germany’s Inflation, per […]
EUR is one of the worst performing G10 currencies Wednesday. A streak of lower-than-expected flash CPI report for May from European countries released Tuesday and Wednesday is weighing on the euro. This is because it hints that the ECB may not need to hike as much as previously thought. Nevertheless, money markets are still pricing […]
GBP/USD grinds near weekly high as bulls and bears jostle ahead of the key data/events scheduled for publishing on Thursday. That said, the Cable pair makes rounds to 1.2450 during early Thursday morning in Europe amid the latest retreat in the US Dollar, mainly due to the cautious optimism and receding hawkish Fed bias. It’s worth noting that […]
Weekly forecast, May 22 – 26, 2023 Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 1,0941, which will be followed by moving up to resistance level 1,1032 – 1,1095. Downtrend scenario The downtrend may be expected to continue, while market is trading below resistance level 1,0941, which will […]
Weekly forecast, May 22 – 26, 2023 Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 1,2546, which will be followed by moving up to resistance level 1,2666. Downtrend scenario The downtrend may be expected to continue, while market is trading below resistance level 1,2546, which will be followed […]
