A combination of supportive factors help USD/JPY reverse an initial drop below 129.00. Expectations of an aggressive Fed rate hike and rising US bond yields benefit the USD and the pair. A softer risk tone benefits the safe-haven JPY and could limit any significant upside. The pair USD/JPY has managed to rally a few pips […]
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Eurozone: Annual inflation remains at 7.4% in April compared to the estimated 7.5%
The Interannual Consumer Price Index (CPI) for the euro zone remained at 7.4% in April, equaling the March figure. The result is one tenth below the 7.5% expected by the market consensus, according to Eurostat. Monthly inflation has met expectations and has fallen to 0.6% from 2.4% previously, reaching its lowest level since January. The […]
Gold Price Forecast: XAU/USD remains under pressure around the $1,810 region
Gold witnessed selling for the second day in a row on Wednesday amid modest dollar strength. Expectations of an aggressive rate hike from the Fed and rising US bond yields helped the dollar stem its recent slide. Recession fears weigh on investor sentiment and could support the yellow metal as a safe haven. The price […]
ECB: Klaas Knot opens the possibility of a 50 basis point move, the euro likes it – Commerzbank
The member of the Governing Council of the European Central Bank (ECB), Klaas Knot said on Tuesday that a 50 basis point rate hike should not be ruled out. EUR/USD jumped higher as an initial reaction to these comments, Commerzbank economists report. Knot’s comments support the euro Klaas Knot yesterday introduced the possibility of steps […]
EUR/USD Price Analysis: The upside remains capped below the 21-day SMA
EUR/USD halts three-day recovery move as USD recovers again. Comments from ECB’s Klaas Knot fuel the bullish wedge breakout, but the 21-day SMA will be a tough nut for EUR bulls to crack. Immediate support is found at 1.0488 as attention turns to Eurozone inflation. EUR/USD is quoting near 1.0520, having hit fresh multi-day highs […]
GBP/USD is now targeting the 1.2600 region – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, the GBP/USD could now attempt a move towards the 1.2600 area In the next weeks. Key comments 24 hour view: “Yesterday, we expected GBP/USD to ‘extend gains’, but were of the opinion that ‘major resistance at 1.2400 is not expected to come […]
Forex Today: Dollar Selling Halts Amid Rising US Yields
This is what you need to know to trade today Wednesday May 18: The dollar seems to have stopped its fall early Wednesday amid rising US Treasury yields. The DXY dollar index, which closed the previous three days in negative territory and lost more than 1% during that period, is moving sideways above 103.00. The […]
Coronavirus: Shanghai authorities allow some financial firms to resume work
The authorities of the city of Shanghai issued a new white list with 864 financial institutions allowed to resume workReuters reported on Wednesday, citing three sources with direct knowledge of the matter. The news has not yet been confirmed by the Shanghai government, although the move could form part of the financial center’s plan to […]
United Kingdom: Annual inflation rises to 9% in April compared to the estimated 9.1%, its highest level in the current historical series
The UK Consumer Price Index year-on-year has risen to 9% in April from 7% in March, its highest level in the series published by National Statistics since it began in January 1997. It is also the largest increase seen in the previously constructed series, which dates back to January 1989. The result, not However, it […]
EUR/USD: There is room for a test of 1.0600 – UOB
Forex Strategists UOB Group, Lee Sue Ann and Quek Ser Leang, suggested that EUR/USD rallies could reach 1.0600 zone in coming weeks. 24 hour outlook: “Although we expected a higher euro yesterday, we felt it was unlikely to break the strong resistance at 1.0490.” However, the euro easily topped this zone and reached a high […]
