DXY extends the upside and rises to 3-day highs near 109.20. Additional gains remain above the 105.60 region. The US Dollar Index (DXY) reverses Wednesday’s decline and resumes buying interest above 109.00 on Thursday. Prospects for a further bounce look solid as long as it is above the 7-month support line today around 105.60. On […]
Tag: currencies
EUR/JPY Price Analysis: Bets on the upside for a revisit to 142.30
EUR/JPY is under pressure shortly after hitting the 140.00 area. More raises could put 142.32 back on the radar. EUR/JPY pulls back from recent highs reached in the 140.00 area on Thursday. Gains from the cross could accelerate once it breaks above the 140.00 zone. Beyond this zone, another test of the weekly high at […]
USD/JPY faces a possible move beyond 140.00 – UOB
According to UOB Group strategists Lee Sue Ann and Quek Ser Leang, additional earnings could lift the USD/JPY above the 140.00 level in the short term. 24 hour outlook: “We expected the USD to trade sideways between 138.10 and 139.10 yesterday. Subsequently, the USD traded between 138.25 and 139.00 before closing at 138.96. The USD […]
Forex Today: The dollar begins September with a firm step
This is what you need to know to operate the Thursday September 1: Following Wednesday’s volatility amid month-end flows, the dollar gained strength early on Thursday with the Dollar Index breaking above the 109.00 zone. Although the dollar lost some interest after US data showed private sector employment grew at a much softer-than-expected pace in […]
EUR/USD maintains short-term consolidated trend – UOB
UOB Group currency strategists Lee Sue Ann and Quek Ser Leang noted that the EUR/USD navigate inside the range of 0.9940-1.0125 in the coming weeks. 24 hour outlook: “The EUR traded between 0.9972 and 1.0078 yesterday, expanding our expected sideways trading range of 0.9985/1.0060. Price actions offer no new clues and we expect the euro […]
EUR/GBP rallies for the fourth day in a row and hits monthly highs near 0.8650
The pound continues to be pressured by the negative economic outlook in the UK. The euro continues to rise amid expectations of a 75 rate hike by the ECB. EUR/GBP gains momentum after breaking key technical levels. The EUR/GBP it broke above 0.8605 and jumped to 0.8640, reaching the highest level since July 1. The […]
EUR/USD leaves behind daily lows near 0.9970
EUR/USD bounces away from lows initially hit in the 0.9970 area. The dollar gives back part of the recent advance beyond 109.00. EMU inflation figures surprised to the upside in August. After a push towards the 0.9970 area, the EUR/USD managed to gain traction and regain parity on Wednesday. EUR/USD finds support around 0.9970 EUR/USD […]
USD/CAD holds on to modest gains near 1.3100 after Canadian data
USD/CAD hit its highest level since mid-July above 1.3100. The Canadian economy expanded at a softer-than-expected pace in the second quarter. The USD struggles to gain strength after weak employment data. The pair USD/CAD gained momentum to the upside and hit its highest level since mid-July at 1.3132 before erasing part of its daily gains. […]
USD/TRY rises and approaches 18.20
USD/TRY extends gradual march north to 18.20 area. The better tone of the dollar lifts the pair to new all-time highs. Turkey’s GDP grew by 7.6% year-on-year during the second quarter. The improvement of the US dollar keeps the USD/TRY near 2022 highs at levels near 18.20 on Wednesday. USD/TRY continues to target the all-time […]
DXY Price Analysis: Next upside target at 2022 peak
DXY extends Tuesday’s gains and recovers the area above 109.00. Immediately on the upside is the cycle high at 109.47 (Aug 29). The US Dollar Index trades firmer and extends the rebound past the 109.00 barrier on Wednesday. The index appears to have entered a consolidation phase, with the lower bound at recent lows near […]