EUR/USD bounces off lows around 1.0480 on Thursday. Further recovery should target the monthly high at 1.0641. EUR/USD pulls back and almost totally erases Wednesday’s pullback and shifts attention to recent weekly highs near 1.0560. Considering the current price action of the pair, a continuation of the bounce is likely to happen in the very […]
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GBP/USD recovers back above 1.2400
GBP/USD has recovered much of Wednesday’s decline and is back above 1.2400 as the dollar fades. The 21 DMA again offered strong resistance around 1.2500, which could be a key resistance zone. UK data and its implications for the economic outlook and Bank of England policy remain in the spotlight with retail sales data due […]
US: Initial jobless claims rise to highest since late January
Mixed data on requests for unemployment benefits. Initial orders at maximum in months, continued at historical lows. The dollar remains weak in the market. The Department of Labor reported that initial claims for unemployment benefits they increased by 21,000 in the week ending May 14 to 218,000, higher than the expected 200,000 and the highest […]
USD/CAD approaches 1.2800 as dollar weakness offsets oil drop
USD/CAD returned to close to a two-week low amid the onset of fresh dollar selling. The decline in US bond yields weighed on the dollar, although bets on a Fed rate hike should limit losses. Weakening crude oil prices could undermine the loonie and help limit deeper losses for the pair. The pair USD/CAD came […]
DXY Price Analysis: With room for more losses
The DXY index leaves behind Wednesday’s gains. A further drop could lead to a drop to the 102.30 region. The US dollar index (DXY) it extends the turmoil observed so far this week and reverses the advance of the previous session. Despite the current bounce, further pullbacks remain on the table and could now target […]
EUR/JPY Price Analysis: Corrective decline could lead to a test of 132.60
EUR/JPY recovers some lost ground after Wednesday’s decline. Further decline should find support near 132.60. EUR/JPY is modestly higher after Wednesday’s sharp decline to the 134.00 area. Price action around the cross remains inconclusive and further declines should not be ruled out- May low at 132.65 (May 12) expected to hold occasional bearish attempts on […]
ECB Minutes: Members widely express concern over high inflation
The minutes of the most recent policy meeting of the European Central Bank (ECB), published on Thursday, said members widely expressed concern about the high inflation numbers. Some members considered that it is important to act without delay to show the ECB’s determination to achieve price stability. The minutes note that the members express that […]
S&P 500: Stocks find no support after worst day in two years
Wall Street futures in the red after the worst day in years. Fears continue to dominate the scene and the demand for safe-haven assets is intensifying. The dollar loses strength due to the fall in Treasury bond yields. The futures of the main US stock indices do not anticipate a rebound, but instead operate in […]
AUD/USD hangs on to intraday gains near 0.7000, lacks continuation
AUD/USD gains positive traction on Thursday and recoups much of the previous day’s decline. The pullback in US bond yields sparks fresh selling around the dollar and offers support for the pair. Risk-off sentiment prevents the Aussie from gaining ground any further, at least for now. The pair AUD/USD pull back a few pips from […]
Gold Price Forecast: XAU/USD bounces back up to test barrier at $1830 zone
Gold bounces boosted by falling dollar and bond yields. Equity markets remain in the red, contributing to the persistence of high volatility. Confirmation above $1,835, I would target $1,850. Gold rebounded from $1,810 and climbed to $1,830, marking a new high for the day. The metal’s rise was due to a decline in the dollar […]
