GBP/USD fell to a nearly two-year low on Thursday in reaction to weaker UK macro data. The Fed’s aggressive rate hike bets continued to support the USD and added to the selling bias. Extreme oversold conditions helped limit losses, although the setup favors bearish traders. The pair GBP/USD It managed to recover a few pips […]
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US: Wholesale inflation falls less than expected in April to 11% vs. 10.7% expected
The PPI rises 0.5% in April, in line with expectations, annual rate goes from 11.5% to 11%. Core PPI slows more than expected. Dollar pulls back modestly after data, remains strong. The Producer Price Index (PPI) in April registered a rise of 0.5% in line with expectations, after the jump of 1.6% in March. The […]
EUR/JPY Price Analysis: Next downside target comes at 133.87
EUR/JPY corrects sharply lower and challenges 134.00. A further drop could lead to a test at the 55-day mean. EUR/JPY extends the weekly move lower and revisits the 134.00 region thanks to the resurgence of risk aversion in the financial markets. The continuation of the downtrend should find temporary support at the 55-day and 100-day […]
Last Minute!: EUR/USD falls below 1.0400, focus on tensions with Russia
The EUR/USD has fallen below the 1.0400 level on Thursday for the first time since January 2017, with bears now eyeing a test of 2017 lows in the 1.0340 area. At time of writing, the daily low is at 1.0388. EUR/USD losses for the day are now above 1.1% as investors dump the euro in […]
S&P 500: The falls do not stop, the dollar and the yen soar
After the strong falls on Wednesday, Wall Street points to new lows. The dollar and the yen rise due to greater demand for safe-haven assets. Metals, cryptos and oil down. Wall Street indices are set to start Thursday at new lows in more than a year as negative weather continues on fears of a global […]
Gold Price Forecast: XAU/USD pulls back towards $1840 on stronger dollar
The gold affected by negative climate in the markets. Recovery stalls below $1860, next support at $1830. Focus on the bags and more data from the US is coming. Gold is falling on Thursday, erasing some of Wednesday’s bounce. The XAU/USD hit as high as $1,858 in the Asian session, a two-day high, but then […]
ECB: Rates likely to be in positive territory early next year – Gabriel Makhlouf
The member of the Governing Council of the European Central Bank (ECB), gabriel makhloufsaid on Thursday that it is realistic to expect central bank interest rates to be in positive territory early next year, Reuters reported. “We have reached the point where we have to act on the Governing Council of the ECB,” Makhlouf said. […]
EUR/USD crashes to 1.0420, five-year low
The dollar gains momentum in a climate of tension in the markets. The euro does not get support even for “hawkish” comments from ECB officials. EUR/USD targets 1.0400; closer to hitting lows since 2003. The strength of the dollar pushed the EUR/USD to the lowest levels since January 2017 at the 1.0420 zone, in a […]
USD/CAD flirts with yearly highs around 1.3050
USD/CAD regains positive traction on Thursday and is back close to the yearly high. Expectations of an aggressive Fed rate hike continue to benefit the USD and offer some support to the pair. A further drop in oil prices weighs on the CAD and provides an additional boost to the pair. The pair USD/CAD has […]
GBP/USD Price Analysis: Ascending triangle breakout targets 1.2158
GBP/USD remains near two-year lows due to risk aversion and UK growth woes. GBP/USD confirmed a breakout of the ascending triangle on the 4-hour chart on Wednesday. Bears brace for further decline towards pattern target of 1.2158. The GBP/USD trades back below 1.2200 after a temporary pullback to near the 1.2230 area as disappointing UK […]
