USD/JPY attracted some buying on the dips on Tuesday, although the rally was not followed up. The widening of the US and Japanese bond yield spread continued to act as a tailwind for the pair. The Ukraine crisis extended support for the JPY as a safe haven and capped any significant gains. The pair USD/JPY […]
Tag: currencies
The bullish bias remains unchanged
DXY falters once again around the 99.00 region on Tuesday. More gains are likely on a close above 99.00. The US Dollar Index (DXY) trades within a tight range near the 99.00 zone so far on Tuesday’s reversal. DXY manages well to further extend the bounce away from decent containment in the 97.70 area (March […]
AUD/USD consolidates rally to highest level since June 2021
AUD/USD jumped to a new yearly high in reaction to the aggressive comment from the RBA on Tuesday. The Ukraine crisis underpinned commodities and further benefited the resource-linked Australian dollar. Technical buying above 0.7600 also contributed to the strong intraday move higher. The pair AUD/USD it maintained its strong tone offered during the middle of […]
GBP/JPY flirts with 1-week highs, struggles to capitalize on move beyond 161.50
GBP/JPY attracted some buying on Tuesday and turned positive for the third day in a row. A combination of factors undermined the JPY and continued to support the intraday rally. Modest USD weakness, upbeat UK PMI benefited the GBP and provided an additional boost. The crossing GBP/JPY It maintained its modest intraday gains during the […]
USD/CAD falls towards 1.2450, near the yearly low hit last week
A combination of factors is dragging USD/CAD lower for the second day in a row. The war in Ukraine benefits the CAD and puts some pressure on the pair. A modest USD weakness further contributes to the selling tone around the pair. Aggressive Fed expectations should limit USD decline and offer some support. The pair […]
US dollar index DXY falters around 99.00 level ahead of data
The DXY index bounce was unable to close above the 99.00 level. US yields regain some composure on Tuesday. ISM Services PMI and Markit Services PMI stand out on today’s economic calendar. The US dollar index DXYwhich measures the strength of the dollar against a basket of major currencies, faces some downside pressure near the […]
GBP/USD still seen between 1.3050 and 1.3200 – UOB
According to currency strategists Quek Ser Leang and Lee Sue Ann of the UOB Group, it is expected that GBP/USD moves in the range of 1.3050-1.3200 In the next weeks. Featured Comments 24 hour view: “Yesterday we had the view that ‘the bias for GBP/USD is to the downside’. However, GBP/USD moved quietly between 1.3094 […]
EUR/USD risks falling below 1.0940 – UOB
The EUR/USD could pull back below the 1.0940 level in the near term, FX strategists at UOB Group. 24 hour outlook: “Yesterday we highlighted that there was room for the EUR to fall to 1.1015 first before a bounce could be expected. We added that a break of major support at 1.0990 still looked unlikely. […]
Mexican peso at nine-month highs, eyeing the 19.70 level
-637846842599152340.png "Mexican peso at nine-month highs, eyeing the 19.70 level")
The Mexican peso continues to rise against the US dollar, its highest level since July 2021. USD/MXN shows oversold readings but without significant signs of consolidation. The price remains below the 200-week SMA at 20.15. The USD/MXN opened the week pulling back below 19.80, after posting the third consecutive weekly decline. The bearish bias remains […]
USD/JPY modestly bullish, unable to recover 123.00
The Japanese yen is holding steady as US yields move sideways on Monday. USD/JPY consolidates, unable to recover 123.00. Mixed dollar across the board; DXY up for the third day in a row. The USD/JPY is rising modestly on Monday, supported by higher US yields and a mixed US dollar. The pair peaked at 122.94 […]
