EUR/USD accelerates losses and falls to new cycle lows. Below the low for the year is the December 2002 low at 0.9859. The EUR/USD resumes the leg down and breaks below the 0.9900 level to hit a fresh two-decade low in the 0.9880/75 area on Monday. A continuation of the downtrend cannot be ruled out […]
Tag: currencies
US Dollar Index Price Analysis: Overbought Levels Could Spark a Corrective Move
DXY rises to fresh highs near 110.30 on Monday. A technical correction should not be ruled out. The US Dollar Index (DXY) extends the rise to the 110.30 zone, where it seems to have found some initial resistance. The short-term bullish view on the dollar holds for now and is underpinned by the 7-month support […]
EUR/JPY Price Analysis: 142.30 zone will be the next target
EUR/JPY adds to Friday’s small gains below 140.00. The next hurdle to watch is at the 142.30 area. The EUR/JPY alternate gains with losses around 139.00 after bottoming out at early lows near 138.70 on Monday. Further gains in the cross are now favored once it breaks past the recent high of 140.74 (Sept 2). […]
GBP/USD fails to make a significant recovery and remains near two-and-a-half year lows
GBP/USD attracts some intraday buying on Monday, but lacks follow-through. A modest dollar pullback from two-decade highs offers some support for the pair. The fundamental/technical backdrop still appears to be tilting in favor of the bearish traders. The pair GBP/USD it has bounced slightly from its lowest level since March 2020, around the 1.1445 area […]
USD/TRY resumes the upward path and approaches all-time highs
USD/TRY fades from Friday’s pullback and climbs above 18.22. Turkey’s inflation rate stood at 80.21% y/y in August. Producer prices from Turkey increased by 143.75% yoy over the past month. The Turkish lira resumes its usual depreciation against the dollar and makes the USD/TRY break above the 18.22 level again on Monday. USD/TRY continues to […]
USD/CAD trims intraday gains, pulls back towards 1.3150 amid oil rally
USD/CAD trims some of its intraday gains, although the decline remains muted. Rising oil prices underpin the loonie and act as a headwind amid a modest USD pullback. Aggressive Fed rate hike bets favor USD bulls and should support the pair. The pair USD/CAD is supported by Friday’s bounce from the 1.3075 area and starts […]
AUD/USD remains near lows in months, RBA on Tuesday
AUD/USD is hovering in a tight range below 0.6800 on Monday. Bets on aggressive Fed rate hikes keep dollar strong. Tuesday is the decision of the Australian central bank. The AUD/USD is having a hard time making up ground on Monday and is trading in a tight band for the first half of the day. […]
USD/JPY maintains gains near 140.50, just below 24-year highs
USD/JPY receives fresh buying on Monday and approaches its 24-year high again. The general strength of the dollar and the divergence between the policies of the Fed and the BoJ remain supportive for the pair. Bulls are reticent amid thin trading volume due to US holiday. The pair USD/JPY it attracts new buying on the […]
USD/JPY shifts focus towards 141.50 – UOB
Additional gains could lead USD/JPY to revisit the 141.50 region on the short-term horizon, UOB Group currency strategists Lee Sue Ann and Quek Ser Leang have said. Featured Comments 24 hour view: “Last Friday we highlighted that “further USD/JPY strength is likely, although overbought conditions suggest USD/JPY may not be able to hold above 140.50.” […]
GBP/USD remains defensive below 1.1500 ahead of UK PM
GBP/USD falls to its lowest level since March 2020 and is under pressure from a combination of factors. The gloomy economic outlook for the UK weighs on the British pound amid broad dollar strength. Traders await the UK Prime Minister’s announcement amid relatively tight liquidity conditions. The pair GBP/USD start the new week with a […]