USD/CAD gains some positive traction on Wednesday amid fresh buying around the dollar. A further rise in US bond yields and a softer risk tone rekindle safe-haven demand for the dollar. Rising oil prices benefit the CAD and limit the pair’s gains. The pair USD/CAD it has attracted some buying near the 1.2425 area on […]
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Eurozone: final GDP rises 0.6% quarter-on-quarter in the first quarter compared to the 0.3% expected
The Eurozone economy expanded 0.6% qoq in the three months to March 2022 vs. 0.3% previously, as confirmed by the final review on Wednesday. The market consensus was for a reading of 0.3% in the reporting period. In annualized terms, the bloc’s GDP rate increased by 5.4% in the first quarter, compared to 5.1% registered […]
NZD/USD at daily lows, falls below 0.6450 amid modest USD strength
NZD/USD hits fresh selloff on Wednesday and approaches a two-week low again. A nice rally in US bond yields reignites demand for the dollar and puts some pressure on the pair. A softer risk tone also benefits the safe-haven USD and weighs on the perceived riskier NZD. The pair NZD/USD has struggled to take advantage […]
USD/JPY: Rally could extend to 140 – Scotiabank
USD/JPY is trading at its highest level in 20 years above 133.00. The short-term outlook for the Japanese yen remains dovish and Scotiabank economists believe the pair USD/JPY could go up to 140. USD/JPY technical chart is bullish “The technical backdrop in the USD/JPY is bullish, with trend indicators aligned to the upside for USD/JPY […]
GBP/USD: Looking erratic between 1.2430 and 1.2670 – UOB
Outlook for GBP/USD remains mixed and is expected to trade between 1.2430 and 1.2670 in the coming weeks, suggest UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Key comments 24 hour view: “We were expecting GBP/USD to ‘trade sideways into a 1.2470/1.2570 range’ yesterday. However, GBP/USD fell as low as 1.2433 before […]
EUR/USD: Bulls are struggling to recapture the 1.0700 level
EUR/USD is trading directionless just below 1.0700. Eurozone first-quarter GDP growth stands out on today’s economic calendar. Germany’s industrial production contracted 0.7% mom in April. The common currency is under pressure and leads to EUR/USD slightly defensive below the 1.0700 level during the European session on Wednesday. EUR/USD Focuses on Data and Stays Cautious Ahead […]
Forex Today: Major Currencies Remain Quiet Ahead of Key Events
This is what you need to know to trade today Wednesday June 8: The dollar struggled to find demand amid improving market sentiment on Tuesday, but 10-year US Treasury bond yield rebounded 3% early Wednesday, helping the USD remain relatively resilient against its rivals. Eurostat will publish the figures for the gross domestic product GDP […]
Germany: Industrial production grows 0.7% monthly in April vs. 1% expected
The German industrial production grew 0.7% monthly in April, improving notably after the 3.7% drop seen in March (revised figure from -3.9%). This is the best result obtained by the indicator in three months, although it has not reached market expectations, which expected an increase of 1%. Year-on-year, German industrial production falls for the second […]
China: Foreign trade faces uncertainty and great pressure
the vChinese Minister of Commerce He declared on Wednesday that the stabilization of the country’s foreign trade faces uncertainties and enormous pressure, hit by internal and external factors. When asked about the slowdown in trade growth, he said that “Chinese importers and exporters are under pressure due to logistical problems and rising raw material prices“. […]
EUR/USD Faces Further Short-Term Consolidation – UOB
Forex Strategists UOB Group, Lee Sue Ann and Quek Ser Leang noted that EUR/USD is still seen in the 1.0635-1.0785 range in the coming weeks. 24 hour outlook: “Yesterday we held the view that the euro was likely to decline, but a sustained drop below 1.0650 was unlikely. Our view was not wrong, as the […]
