Euro loses strength after ECB emergency meeting. The dollar without clear direction before the Fed. US data below expectations. EUR/USD has erased all gains and is testing the 1.0400 zone, after the emergency meeting of the European Central Bank and before knowing the decision of the Federal Reserve. ECB, data and then the Fed Following […]
Tag: Foreign exchange
GBP/USD continues to recover and reaches 1.2100, in the Fed preview
The dollar corrects before knowing US data and the Fed’s decision. On Thursday the Bank of England would raise interest rates by 25 or 50 basis points. GBP/USD rises after falling for five days and recovers from lows since March 2020. A dollar correction is pushing GBP/USD higher on Wednesday. The pair is trading in […]
USD/MXN continues to rise and hits six-week highs above 20.60
The Mexican peso and emerging market currencies remain under pressure. Tuesday shows some stability on Wall Street, but it doesn’t look stable. The Fed begins the two-day meeting. USD/MXN rises again on Tuesday and climbed to 20.62, the highest level since late April. The cross continues to be underpinned by the bad climate in the […]
EUR/GBP breaks critical level and heads higher towards 0.8700
Pound weakens further after UK data. The euro and Swiss franc rallied against the dollar on Tuesday. EUR/GBP could have the highest daily close in a year. EUR/GBP returned above 0.8600 and jumped to the 0.8650 area where it is trading at levels last seen in September 2021. A confirmation of these prices would leave […]
GBP/USD falls to new lows since March 2020 near 1.2050
The pound remains under pressure in the market. The dollar remains firm although it falls against the franc and the euro. GBP/USD falls for the fifth day in a row, with no signs of change. The GBP/USD is falling for the fifth day in a row. After bouncing back to the 1.2200 area, the pair […]
GBP/USD: Scope for a move to 1.2072/17 and below – Credit Suisse
GBP/USD continues downhill and tests 1.2150 on Monday. Analysts at Credit Suisse remain tactically bearish with next key supports at 1.2157/50 then 1.2072, which is certainly not considered a floor. Key Statements: “Next key support is seen at the recent lows at 1.2167/57, which we expect to be broken quite imminently, with short-term MACD daily […]
EUR/USD targets year low of 1.0350 – Scotiabank
EUR/USD continues to slide on Monday and broke below 1.0450. Scotiabank economists expect the pair to extend its decline towards this year’s low at 1.0350. EUR/USD ends two-week consolidation “Risk-off sentiment, widening core-periphery spreads, a more hawkish Fed and Eurozone growth concerns will likely offset bets on ECB rate hikes in the near term and […]
EUR/GBP rises to test critical resistance around 0.8600
The pound weakened after UK growth data. The euro buoyed by European bond yields. EUR/GBP bullish but capped as long as it remains below 0.8600, EUR/GBP climbed to 0.8592, reaching the highest level since May 12, against a backdrop of negative data from the UK, rising yields in Europe and high risk aversion. The cross […]
USD/MXN soars to 1-month highs, targets 20.45
Mexican peso plummets on risk aversion. USD/MXN accumulates an advance of 3.5% in two days. Wall Street futures fall 2% on average. The USD/MXN accelerated the gains on Monday, after the big jump on Friday and climbed to 20.42, the highest level in a month. The increases with respect to last Thursday exceed 3.5%. The […]
EUR/USD Price Analysis: Room for additional short-term decline
EUR/USD falls sharply to the 1.0510 area on Friday. Further weakness could lead to the 2022 low. EUR/USD extends Thursday’s low and hits new multi-week lows near 1.0510 by the end of the week. The pair’s inability to break above the four-month resistance line near 1.0730, the lack of surprises from the ECB and the […]
