The dollar recovers after an initial drop after the employment report. Nonfarm payrolls up 428,000, more than the 391,000 consensus. EUR/USD held back by 1.0600 loses steam and erases gains. The EUR/USD lost steam after the US jobs report. It had initially rallied closer to 1.0600 but then reversed direction and dropped below 1.0550. Treasury […]
Tag: Foreign exchange
EUR/USD bounces sharply towards 1.0600 ahead of jobs report
The euro gains momentum in the market before expectations of the ECB. The dollar retreats from new cycle highs. The US employment report and several speeches by Fed officials are coming. EUR/USD manages to hold on to the 2022 low. EUR/USD appreciates on Friday ahead of key US data and after managing to hold above […]
EUR/USD accelerates the decline and marks daily lows below 1.0550 as the dollar rises
Recovery of the dollar picks up pace before the American session. EUR/USD falls to the level it was at before the Fed meeting. The EUR/USD failed to return above 1.0605 and accelerated the pullback down to 1.0544, marking a new low for the day and erasing the rise that followed the Fed’s decision. A general […]
GBP/USD plunges towards 1.2400 after the Bank of England decision
The pound falls on all fronts after the decision of the Bank of England. The English central bank raised the rate to 1%, divisions are seen in the future among the members of the Committee. GBP/USD collapses and is one step away from marking new annual lows. The pound tumbled after the Bank of England […]
EUR/USD hits highs above 1.0550 and loses strength, market eyes on the Fed
The dollar remains in ranges before the Fed. Rebound in yields avoid fall of the green ticket. Volatility expected, would lead to a test of the limits of the 1.0450/1.0600 range. EUR/USD is rising modestly on Wednesday ahead of the Fed’s decision and against a backdrop of some dollar weakness. The pair climbed to 1.0555, […]
USD/MXN falls to one-week lows near 20.15 ahead of Fed
The dollar appears weak ahead of the Fed meeting. Mexican peso accelerates recovery against the dollar. USD/MXN loses strength after failing to break above 20.50. USD/MXN is trading at 20.22 after falling to 20.17, the lowest level in eight days. The Mexican peso is still in recovery mode against the dollar. Volatility is expected ahead […]
GBP/USD returns above 1.2500 from three-day lows
Major currency crosses move in ranges ahead of major events. The Fed would announce a rise of 50 basis points, before important data from the US. GBP/USD consolidates around 1.2500, with a dominant bearish trend. GBP/USD fell in the European session to 1.2465, reaching the lowest level in three days. It then recovered and bounced […]
EUR/USD rises towards 1.0580 on dollar correction
The dollar corrects moderately lower at the start of the FOMC meeting. A 50 basis point hike is expected from the Fed on Wednesday. The euro marks maximum also against the pound. The EUR/USD broke higher and climbed to 1.0578, reaching the highest level in two days. The pair remains above 1.0550, with a bullish […]
USD/MXN falls after failing to break above 20.50
The dollar slows the rises on the day of the start of the Fed meeting. USD/MXN biased up but needs to break 20.50 to enable more upside. The USD/MXN is falling moderately on Tuesday, after not being able to overcome 20.50 and before a brake in the advance of the dollar, at the start of […]
USD/CHF pulls back after hitting two-year highs near 0.9800
The dollar remains firm in the market in the run-up to the Fed meeting. Uptrend remains strong in USD/CHF testing 0.9800. Technical indicators on daily chart and more remains overbought. USD/CHF rose as high as 0.9792 on Tuesday, marking a new high since April 2020 and then pulled back erasing intraday gains and fell as […]
