GBP / USD captures some lower levels on Monday and spikes to multi-day highs in the past hour. The rally is due to a driving force coming from the EUR / GBP and GBP / JPY crosses. The prevailing buying of the USD should limit the rise of the pair. A sudden spike in demand […]
Tag: Foreign exchange
EUR / GBP falls sharply to the lowest level since February 2018 near 0.8500
EUR / GBP finds new selling on Monday and is moving lower for the third day in a row. A sudden spike in demand for the British pound is seen as a key factor putting pressure on the pair. Oversold conditions warrant some caution before positioning for any further bearish movement. The crossing EUR/GBP has […]
NZD / USD with modest losses, remains below 0.7000 level
The NZD / USD is witnessing some new selling and returns some of the good recovery movement on Friday. A softer risk tone benefits the safe-haven USD and weighs on the higher perceived risk NZD. The technical setup favors the bears and supports the prospects for further short-term weakness. The pair NZD / USD remains […]
USD / JPY remains under pressure near 109.50, decline appears limited
A softer risk tone benefits the safe haven JPY and puts some pressure on the USD / JPY. The optimistic US economic outlook supports the dollar and helps limit the decline. The pair USD/JPY moves with a slight negative bias at the start of the European session on Monday, staying close to the region of […]
Firmer DXY US Dollar Index approaching 93.00 level
The DXY index begins the week with a positive tone near 93.00. US 10-year yields decline to levels below 1.65%. The Dallas Fed index stands out on today’s US economic calendar. The US dollar DXY index, which measures the strength of the dollar against a basket of major currencies, trades with decent gains and is […]
GBP / USD attempts a bounce amid firmer USD, bearish bias remains intact below 50-day SMA
GBP / USD remains at the mercy of the dynamics of the US dollar. The UK’s easing of covid restrictions does not inspire GBP bulls. The daily chart suggests that the decline looks more convincing. GBP / USD remains capped below the 1.3800 level, although it attempts a bounce from support near 1.3750 amid persistent […]
USD / CAD clings to gains around 1.2600 level amid stronger USD and falling oil prices
USD / CAD captures some buying on Monday and climbs back above the 1.2600 level. A softer risk tone helps reactivate demand for the USD as a safe haven and supports the pair’s upward move. The drop in crude oil prices weighs on the CAD and provides an additional boost to the pair. The pair […]
EUR / GBP testing multi-month lows at 0.8550
EUR / GBP has bounced from multi-month lows below the 0.8540 level in recent trading, but continues to trade with a negative bias. The EU and the UK have just agreed a memorandum of understanding on financial services in a positive sign for future trade cooperation. The EUR/GBP It has bounced from multi-month lows below […]
AUD / USD extends daily bounce towards 0.7630, seems to close the week lower
AUD / USD continues to rise during the American session. The US dollar index declines as market sentiment improves. Market optimism makes it difficult for the USD to find demand. The AUD/USD it retained its bullish momentum during US trading hours and hit a daily high of 0.7638. At time of writing, the pair was […]
Mexican peso wins after Banxico, still faces negative outlook
The Mexican peso rose across the board after the Banxico meeting. USD / MXN falls on Friday for the second day in a row and remains above the short-term trend line. The USD/MXN is falling on Friday, is about to end the week slightly above the level it was seven days ago. Price bottomed at […]
