EUR/USD advances on the back of ECB Governing Council members expressing the need for a 75 basis point rate hike in September. US consumer confidence rose surprisingly, while job openings beat estimates. German inflation figures for August were in line with estimates, except for headline inflation, which was close to the 8% threshold. The EUR/USD […]
Tag: Fed
AUD/USD at weekly highs, pulls back below the 50 DMA
AUD/USD hit a weekly high around 0.6956, but data and sentiment bolstered the USD. Rising US Treasury yields underpinned the dollar, creating a headwind for AUD/USD. US consumer confidence improves, while job openings rise. The AUD/USD faced strong resistance around the 20-day EMA at 0.6959 and dipped below 0.6900 amid a risk-off drive, with the […]
GBP/USD struggles to preserve modest intraday gains and pulls back towards 1.1700
GBP/USD trims modest intraday gains and pulls back to the lower end of its daily range. A combination of factors is helping the dollar trim intraday losses and putting downward pressure. A gloomy economic outlook in the UK supports the prospects for a further short-term depreciation move. The pair GBP/USD struggles to take advantage of […]
USD/CAD recovers initial lost ground and returns to 1.3000 amid sharp drop in oil
USD/CAD reverses an intraday decline and is supported by a combination of factors. A sharp pullback in oil prices undermines the loonie and acts as a tailwind. A modest bounce in the dollar from the daily low contributes to the intraday rise. The pullback in US bond yields and the risk-on mood could weigh on […]
AUD/USD rises towards 0.6950 amid modest USD weakness
AUD/USD gains traction for the second day in a row and recovers from a six-week low. Pullback in US bond yields and risk boost weigh on the dollar and offer support for the pair. Aggressive bets on Fed rate hikes should limit deeper USD losses and keep the pair contained. The pair AUD/USD attracts some […]
NZD/USD: Buyers make up some ground, but not out of the woods
NZD/USD jumped from a six-week low on Monday from around 0.6100. The Fed’s favorite inflation gauge fell, though Powell did not factor in the data, saying a month’s worth of data is not enough to pause. NZD/USD Price Analysis: Still trending down, so a test of year lows around 0.6060 is expected. The NZD/USD rebounds […]
Forex Today – Asian Session: Dollar buyers between a rock and a hard place
What to watch for on Tuesday, August 30: The dollar started the week strong, but ended the day with modest losses across the currency board. Market traders were caught between recession fears and hawkish politicians hinting at tighter monetary policies. Following the Jackson Hole Symposium, the odds of a 75 basis point US Federal Reserve […]
AUD/USD climbs above 0.6900, buoyed by Aussie retail sales and US dollar weakness
AUD/USD advanced around 0.25% on Monday, paring some of last Friday’s losses. Last week’s Fed rhetoric capped AUD/USD gains. Australian retail sales were better than expected, boosted by tourism. AUD/USD recovers the 0.6900 figure after hitting a six-week low around 0.6840 in the American session, amid a risk-off environment, spurred by Powell’s Fed hawkish rhetoric […]
GBP/USD rebounds from its lowest level since March 2020
A dramatic dollar reversal from a 20-year high prompts some short-covering around GBP/USD. Dovish expectations from the Fed, rising US bond yields and a risk-off mood should limit dollar losses. The gloomy economic outlook for the UK suggests that the recovery attempt is likely to be short-lived. The pair GBP/USD it has bounced from the […]
USD/CAD pulls back from multi-week highs and heads towards 1.3000
A combination of factors causes some intraday selling around USD/CAD on Monday. Rising oil prices underpin the loonie and put pressure on amid a sharp dollar pullback. Aggressive Fed rate hike bets should limit USD losses and support the pair. The pair USD/CAD cuts its initial gains to the 1.3075 area, ie the highest level […]