GBP / USD is witnessing intraday short coverage from the 100-day SMA near the 1.3670-65 region. Falling US bond yields limit USD bulls and offer support to the pair. The technical setup remains skewed in favor of the bears and supports the prospects for further losses. The pair GBP / USD has recovered close to […]
Tag: Foreign exchange
AUD / USD recovers a significant portion of intraday losses and rises back above the 0.7600 level
A combination of factors triggers new selling around AUD / USD on Monday. Powell’s upbeat comments benefit the USD, while a softer risk tone weighs on the AUD. The emergence of lower buying warrants some caution for aggressive bears. The pair AUD/USD remains under pressure at the start of the European session on Monday, although […]
USD / CAD recovers above the 1.2550 level again
USD / CAD sees positive traction and recovers a significant portion of Friday’s losses. With a softer risk tone, Powell’s upbeat comments extended some support for the USD. A rebound in oil prices benefits the CAD and limits the rise in the pair. The pair USD / CAD moves slightly higher at the start of […]
USD / JPY near daily lows around 109.50 level
A softer risk tone benefits the JPY as a safe haven and puts some pressure on the pair. The continued decline in US bond yields contributes to the intraday selling bias in the pair. A modest pickup in USD demand should help limit deeper losses, at least for now. The pair USD/JPY moves slightly lower […]
A break below 1.3670 is not ruled out – UOB
In the opinion of UOB Group currency strategists, the pound could still break the 1.3670 level in the near term. 24 hour perspective: “The GBP fell to 1.3670 last Friday before starting a slight recovery. Despite the bounce from the low, it is too early to expect a sizable bounce. For today, the British pound […]
EUR / USD could still move towards 1.1945 – UOB
UOB Group currency strategists noted that the EUR / USD bullish momentum could extend towards the 1.1940 / 50 zone in the coming weeks. 24 hour perspective: “The EUR fell to 1.1865 last Friday before rebounding to close slightly lower at 1.1896 (-0.13%). The rebound has room to test resistance at 1.1925, but the main […]
GBP / USD consolidating above 1.3700 with markets in weekend mode
GBP / USD fell as low as 1.3670, but is now consolidating above 1.3700 again. The pound was boosted by the USD side of the equation on Friday, which moved in tandem with US bond yields. The GBP/USD it experienced a brief period of weakness early on during European hours, falling as low as 1.3670, […]
EUR / USD flirting with the 1.1900 level
EUR / USD has reversed towards the 1.1900 level from the previous session lows around 1.1870. EUR / USD traded based on rate spreads on Friday. The US PPI turned out much more attractive than expected, adding upside risk to next week’s CPI report. The EUR/USD It has reversed towards the 1.1900 level from the […]
USD / CAD falls to fresh daily lows below 1.2540 after strong Canadian jobs report
USD / CAD is still on track to close the second day in a row in bearish numbers. The unemployment rate in Canada fell to 7.5% in March. The US Dollar Index is holding on to small daily gains around 92.20. After climbing above 1.2600 earlier in the day, the pair USD / CAD reversed […]
Price pulls back to trend line, likely to retest 150.00
GBP / JPY bottomed at 149.59, a new two-week low, and then rallied. The recovery encountered resistance at the uptrend line and below 151.00. GBP / JPY posted a new correction low at 149.59, extending the decline from the multi-year high that reached above 153.00 on Tuesday. It then completed a pullback to the recently […]
