AUD/USD remains above support at the 0.7000 zone for now, although it is still substantially lower on the day. Global stocks and economic growth-sensitive commodities are under pressure on Monday, weighing on the risk-sensitive Australian dollar/commodities. US CPI will be the key event of the week for the pair. Slightly better than expected, Chinese trade […]
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GBP/USD bounces quickly from yearly lows, retakes 1.2400 amid modest USD pullback
GBP/USD staged a strong intraday recovery from a new yearly low hit earlier this Monday. The USD’s modest pullback from a two-decade high prompted some short covering around the pair. The divergent policy views of the Fed and the BoE warrant caution before making aggressive bullish bets. The pair GBP/USD witnessed a dramatic intraday turnaround […]
I want majority votes for certain political areas of the EU — Emmanuel Macron
French President Emmanuel Macron he said on Monday that he wants more majority votes for certain EU policy areas and called for reforming EU texts so the bloc can become more effective, Reuters reported. There will be conflicts over EU reform, but we should not cower, she said, adding that there is already a Europe […]
US Dollar Index (DXY): Further Gains Now Target 105.00 and Beyond
The US Dollar Index (DXY) hits fresh cycle highs near 104.20 on Monday. The continuation of the bullish stance could reach 105.00. The US Dollar Index (DXY) extends the move higher and reaches new highs in the area of ​​104.20 at the beginning of the week. That said, if the bounce accelerates further, then the […]
S&P 500: Wall Street Declines Deepen, Bond Yields Hit New Highs
Equity markets are starting the week across the world with significant declines. Despite risk aversion, Treasury bond yields continue to rise. The dollar remains firm, sharp drop in metals, oil and Bitcoin. Wall Street futures point to a tough start to the week for US stocks. The negative climate continues to be predominant given the […]
Silver Price Analysis: XAG/USD slides to new yearly lows below $22.00
Silver extends its recent downtrend and falls to a new yearly low on Monday. A break below the $22.00 level could be a new trigger for the bears. The oversold of the RSI (14) on the daily chart warrants some caution before opening new positions. Silver (XAG/USD) has seen selling for the third day in […]
EUR/JPY Price Analysis: The search for 140.00 remains in force
EUR/JPY extends current recovery towards 138.00. The next target on the upside comes at the 139.00 hurdle ahead of 140.00. EUR/JPY extends bullish momentum and trades at multi-day highs beyond 138.00 at the start of the week. Further gains now look on the table with the next target at the 139.00 round level ahead of […]
Gold Price Forecast: XAU/USD falls sharply and targets April low at $1850 zone
Negative start to the week for gold given continued rise in Treasury bond yields. Negative scenario exposes support at $1850. Silver and cryptocurrencies also down. The Prayed is starting the week with another major drop and is looking closely at the April low. XAU/USD started just above $1880 and is trading at $1856, the lowest […]
USD/JPY could reach the level of 131.65 – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, If USD/JPY continues to rise, it could revisit the 131.65 level In the next weeks. Key comments 24 hour view: “We expected USD/JPY to strengthen last Friday, but were of the opinion that ‘131.25 is unlikely to be threatened’. USD/JPY subsequently rose […]
EUR/GBP hangs on to modest gains around 0.8550, lacks continuation
The EUR/GBP cross attracts some buying on Monday amid sustained selling around the British pound. The gloomy economic outlook from the Bank of England turns out to be a key factor weighing on the British pound. A combination of factors weighs on the euro and limits significant gains in the pair. The crossing EUR/GBP maintains […]
