The euro and the pound remain under pressure, unable to consolidate recovery. EUR/USD nears low in years after failed bounce to 1.0418. Treasury bond yields rise on Friday. The EUR/USD lost steam in the last few hours and erased daily gains returning below 1.0400, and approaching the low since the beginning of 2017 which it […]
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USD/CHF pulls back to 1.0000 amid weaker dollar, downside looks limited
USD/CHF is witnessing a corrective pullback from a two-year high amid modest USD weakness. Risk appetite could weigh on the safe-haven CHF and help limit any significant decline. Expectations of an aggressive Fed rate hike and a nice rally in US bond yields also favor USD bulls. The pair USD/CHF has fallen to a new […]
Gold Price Forecast: XAU/USD struggles near multi-month lows, holding steady around $1,820
Gold rebounds slightly from three-month lows hit earlier this Friday. USD pulls back from two-decade highs and offers some support to XAU/USD. Risk appetite, a rebound in US bond yields and expectations of Fed rate hikes limit the yellow metal’s gains. The price of Gold (XAU/USD) has reversed an intraday decline to the $1,810 zone […]
USD/JPY gives back early gains amid dollar weakness, holds above 128.50
USD/JPY gains some positive traction on Friday and recovers from a two-week low. Risk appetite weighs on the JPY and offers support to the pair amid a rally in US bond yields. A modest retreat of the dollar from two-decade highs prevented a significant rise in the pair. The pair USD/JPY pulls back nearly 60 […]
Silver Price Analysis: XAG/USD recovers from yearly low and rises near the $21.00 level
Silver price gains positive traction on Friday and reverses a portion of the previous day’s decline to the yearly low. The extreme oversold on the RSI (14) on the daily chart is seen as a key factor driving short covering. The breakout point of the support double bottom near the $21.40 area should limit any […]
BOJ: In times like the present, central banks must conduct monetary policy without any pre-established ideas
“In times like now, when uncertainty is high, central banks must conduct monetary policy by extensively examining various data without any pre-set ideas.“, said the governor of the Bank of Japan (BoJ), Haruhiko Kuroda, during the early hours of Friday in Asia. Additional comments The Japanese economy continues to recover as a trend. The BoJ […]
USD/JPY: Selling pressure eases above 130.10 – UOB
The USD/JPY risks falling below 127.50 as long as it trades below the 130.10 levelnote UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Key comments 24 hour view: “Although we expected USD/JPY to weaken yesterday, we are of the opinion that ‘any weakness is expected to find strong support at 129.20.’ before […]
Forex Today: Modest Improvement in Market Mood Ahead of Mid-Level Data
This is what you need to know to trade today friday may 13: After posting its highest close in nearly two decades at 104.75, the US Dollar Index is trading lower early Friday amid an improving market environment. Euro zone industrial production data will be seen for a fresh boost ahead of export price index […]
EUR/USD: The possible return of positive rates throughout this year will support the euro – CIBC
In the opinion of economists CIBC Capital Markets, the anticipation of rate hikes leaves the possibility that rates return to positive territory before the end of the year, which would support the euro. The ECB remains aware that it may repeat the policy mistake of 2011 “Any move back to positive rates would not necessarily […]
GBP/USD: Support levels at 1.2140 ahead of 1.2100 – UOB
The GBP/USD still under pressure and further decline could retest 1.2140 before 1.2100, currency strategists suggested UOB Group, Lee Sue Ann, and Quek Ser Leang. 24 hour outlook: “Yesterday we highlighted that momentum was building rapidly and a break of 1.2200 would not be surprising. We added that the next support at 1.2140 was probably […]
