USD/CAD sees fresh selling on Wednesday and is under pressure from a combination of factors. The rebound in oil prices benefits the CAD and exerts pressure amid modest USD weakness. Expectations for an aggressive Fed rate hike should cap USD losses and lend support to the pair ahead of US CPI. The pair USD/CAD has […]
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USD/JPY flirts with 130.00 level, decline looks supported ahead of US CPI.
USD/JPY comes under renewed selling pressure on Wednesday amid modest US dollar weakness. A pullback in US bond yields keeps dollar bulls on the defensive and weighs on the pair. A positive risk tone and the divergence of monetary policies between the Fed and the Bank of Japan limits the pair’s losses before the US […]
Gold Price Forecast: XAU/USD Jumps to $1,850 Region, Focus Remains on US CPI
Falling US bond yields weigh on the USD and help gold gain traction on Wednesday. Concerns about weakening global growth offer additional support for the yellow metal as a safe haven. Expectations of an aggressive Fed rate hike could cap gains ahead of the US CPI release. The price of Gold (XAU/USD) has rebounded from […]
GBP/USD clings to modest gains, upside looks limited ahead of US CPI.
GBP/USD gains some positive traction on Wednesday amid modest USD decline. The decline in US bond yields and the positive tone in risk appetite weigh on the safe haven USD. Fed rate hike expectations should support USD losses and cap the pair ahead of US CPI. The pair GBP/USD trades with a slight positive bias […]
Forex Today: Markets turn cautiously bullish as focus shifts to US CPI.
This is what you need to know to trade today Wednesday May 11: The observed positive change in risk sentiment in the middle of the week makes it difficult for the dollar to continue to outperform its rivals. As investors await data from the US CPI consumer price index, expected to decline to 8.1% y/y […]
EU members could still make a decision on banning Russian oil – Valdis Dombrovskis
The Trade Commissioner and Executive Vice President of the European Union (EU), Valdis Dombrovskissaid he still believed member countries could reach an agreement on the bloc’s sixth package of sanctions against Russia, including an oil ban. Bulgaria and several other EU member states have opposed the embargo on Russian oil imports. Featured Comments “With the […]
ECB could outline in June a rate hike plan for the coming months – Madis Muller
The head of monetary policy at the European Central Bank (ECB) and Governor of the Bank of Estonia, Madis Muller, said on Wednesday that the central bank “could outline future rate expectations as early as the June monetary policy meeting”. Additional comments The APP should end in early July or a few weeks earlier; the […]
Germany: Annual inflation rises to 7.4% in April, its highest level in more than forty years
The Consumer Price Index (CPI) for Germany stood at 0.8% monthly for the month of April, as expected, down from 2.5% in March. This is its most moderate percentage in three months, according to the German statistics agency Destatis. The interannual inflation has met expectations and has risen one tenth to 7.4% from the previous […]
GBP/USD: Risks remain tilted to the downside – UOB
The GBP/USD could continue to decline and revisit the 1.2200 area in the coming weeks, FX strategists at UOBGroup Lee Sue Ann and Quek Ser Leang. 24 hour outlook: “Yesterday we highlighted that the move was likely part of a consolidation and we expected the pound to trade between 1.2280 and 1.2410. Although our view […]
EUR/USD: Selling pressure will be eased above 1.0620 – UOB
According to forex strategists from UOB Group, Lee Sue Ann and Quek Ser Leang, the downside pressure on EUR/USD is expected to ease with a close above 1.0620. 24 hour outlook: “Yesterday we expected the EUR to consolidate and trade within a range of 1.0510/1.0610. Subsequently, the Euro traded within a narrower range than expected […]
