A combination of divergent forces failed to lift USD/JPY on Thursday. Dashed hopes of Ukraine diplomacy supported the JPY as a safe haven and capped gains. The surge in aggressive USD buying extended support and helped limit the decline. The pair USD/JPY traded between tepid gains/minor losses during the early American session and held steady […]
Tag: Foreign exchange
USD/CAD recovers further from yearly low, rises to 3-day highs near 1.2530-35
USD/CAD caught aggressive bids on Thursday and was supported by a combination of factors. A drop in oil prices undermined the loonie and extended support amid resurgence in USD demand. Traders are now keeping an eye on the OPEC+ meeting, US/Canada macro data and geopolitics for further momentum. The pair USD/CAD built on its steady […]
EUR/USD corrects from weekly highs to 1.1085 zone
Euro under pressure on Thursday throughout the market. EUR/USD tries to hold above 1.1100. Inflation on the rise in the Eurozone, data from the US is coming. EUR/USD is pulling back from four-week highs and giving back almost all of Wednesday’s gains. The pair hit daily lows below 1.1100, against a backdrop of widespread euro […]
GBP/USD range bound below 1.3150
GBP/USD is range bound on Thursday amid modest dollar weakness. Better-than-expected UK macroeconomic releases offer sterling support. Aggressive rate expectations from the Fed and dovish outlook from the BoE warrant caution for bulls. The pair GBP/USD remains trapped within a range of about 35 pips, below the level of 1.3150, during the European session on […]
USD/JPY now enters a consolidation phase – UOB
USD/JPY’s upside move appears to be over and it could now move into the 121.00-124.50 range in the coming weeks, according to currency strategists at UOB Group. Featured Comments 24 hour view: “We were expecting USD/JPY to ‘trade between 121.50 and 122.70’ yesterday. We underestimated volatility as USD/JPY moved within a wider range than expected […]
US dollar index DXY challenges 4-week lows near 97.70
The DXY index remains under pressure around the 97.70 level. US yields extend corrective decline on Thursday. Initial jobless claims data and the PCE index stand out on today’s economic calendar. The US dollar index DXYwhich measures the strength of the dollar against a basket of major currencies, remains under pressure and trades in the […]
USD/JPY falls below 121.50 amid pullback in US bond yields
A combination of factors drags USD/JPY lower for the third day in a row on Thursday. Fading hopes for a diplomatic solution in Ukraine benefits the JPY and puts downward pressure on the pair. A pullback in US bond yields keeps USD bulls on the defensive and contributes to the pair’s decline. The pair USD/JPY […]
Dollar Selling Halts Ahead of Key US Inflation Data
This is what you need to know to trade today Thursday March 31: Despite the risk-averse market atmosphere, the dollar continued to weaken against its rivals on Wednesday and the US dollar index fell more than 0.5% before entering a consolidation phase early on Thursday. The US Bureau of Economic Analysis will release the Personal […]
GBP/USD now seen between 1.3050 and 1.3250 – UOB
According to currency strategists at the UOB Group, it is expected that GBP/USD moves in the form of consolidation In the next weeks. Featured Comments 24 hour view: “We were expecting GBP/USD to ‘trade into a range of 1.3050/1.3150’ yesterday. However, it rose to a high of 1.3181 before pulling back. Upward momentum has improved […]
EUR/USD at fresh 4-week highs above 1.1160
US dollar under pressure as US yields pull back. EUR/USD is headed for the highest daily close in a month. Economic data shows an acceleration of inflation in Germany and job creation in the US. The EUR/USD rallied further during the US session and hit a fresh four-week high at 1.1170. The pair is rising […]
