USD/JPY is trading in a range during the first half of the European session on Tuesday. The mixed technical picture prevents investors from opening aggressive directional positions. In addition, investors appear to be awaiting the latest US CPI consumer inflation numbers on Wednesday. The USD/JPY pair has no clear direction on Tuesday, oscillating between tepid […]
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AUD/USD struggles to gain significant traction and consolidates around 0.6950
AUD/USD has rebounded from its lowest level since July 2020, reached earlier this Tuesday. Risk appetite and declining US Treasury yields weigh on the USD and offer some support for the pair. Expectations of an aggressive Fed rate hike and recession fears benefit the USD and limit the pair’s rise. The pair AUD/USD experienced good […]
Gold Price Forecast: XAU/USD moves higher but lacks bullish conviction
A drop in US bond yields weighs on the USD and helps gold regain positive traction on Tuesday. Expectations of an aggressive Fed rate hike and risk appetite prevented the yellow metal from gaining ground. Market attention will continue to be focused on the release of Wednesday’s US consumer inflation figures. The gold price (XAU/USD) […]
NZD/USD hangs on to modest recovery gains below 0.6350, lacks continuation
NZD/USD bounces back modestly from its lowest level since June 2020, hit earlier on Tuesday. Softer US bond yields and a positive risk tone weigh on the safe-haven USD and offer support for the pair. Expectations of an aggressive Fed rate hike and recession fears should limit the USD’s decline and cap the pair’s rise. […]
EUR/USD could rise above the 1.06 level – ING
The EUR/USD pair is again trying to find some support in the upper half of the 1.05-1.06 range. The economists of ING they think that the most popular currency pair in the world could rise today, but the rise will stall around the 1.0650 area. Focus on the ZEW and the ECB speeches “Some resistance […]
USD/JPY is now facing a consolidation – UOB
USD/JPY is now seen in the range of 128.40-131.00 in the coming weeks, according to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Key comments 24 hour view: “Yesterday we highlighted that USD/JPY ‘could break above 131.25’. We added that ‘next resistance at 131.60 is not expected to come into the picture’. […]
Forex Today: No Reprieve for Risky Assets
This is what you need to know to trade today tuesday may 10: Wall Street’s main indices suffered heavy losses on Monday and the S&P 500 hit its lowest level in a year below 4,000 points. Although markets remain relatively quiet early on Tuesday, US stock index futures are down 1.3%-1.7%, while the DXY dollar […]
GBP/USD: A drop to 1.2200 is still on the cards – UOB
In the opinion of the currency strategists of UOB Group, Lee Sue Ann and Quek Ser Leang, the pound still risks a deeper pullback near the 1.2200 region. 24 hour outlook: “Yesterday we highlighted that sterling’s weakness appeared to have stabilized somewhat and was unlikely to weaken much further. We had expected GBP to trade […]
Japan: Exchange rate stability is important, rapid moves are not desirable – Shunichi Suzuki
The Japanese Finance Minister Shunichi Suzukireiterated on Tuesday that currency stability is important and rapid moves are not desirable. Featured Statements We want to respect the BoJ’s independence, we expect it to guide policy appropriately. We expect the BOJ to steer monetary policy appropriately to achieve the 2% inflation target. The divergence in monetary policy […]
EUR/USD still eyes 1.0470 – UOB
Forex Strategists UOB Group, Lee Sue Ann and Quek Ser Leang, come to the EUR/USD facing further decline on a close below 1.0470. 24 hour outlook: “Yesterday we highlighted that the current move appeared to be part of a consolidation and we expected the EUR to trade sideways within a range of 1.0490/1.0585. The Euro […]
