EUR/USD has been trading in a 50-60 pip range for the last three days. Dollar Holds Firm Amid Positive Market Mood The war between Russia and Ukraine continues, although peace talks stall. EUR/USD Price Forecast: Bias To The Downside, But With EUR/USD Trading Above 1.0960, Upside Risks Remain. The shared currency goes up and down […]
Tag: Macroeconomy
AUD/USD Posts New Yearly High Above 0.7500 Amid Positive Mood
mThe Australian dollar advances during the week, up 1.30% so far. The US dollar remains close to 99.00, although it falters to weigh on the AUD/USD pair. US President Biden called for Russia to be removed from the G20. AUD/USD Price Forecast: The bias is to the upside unless it trades below 0.7440, which means […]
GBP/USD trims Tuesday’s gains and falls below 1.3200
GBP/USD’s failure to recapture 1.3300 exacerbated the move lower below 1.3200. Market sentiment is mixed as European equities fluctuate while US equities advance. Positive news from the Russia-Ukraine front could point to a ceasefire between the two countries. GBP/USD Price Forecast: Bias to the Downside as the pair heads towards 1.3100. The pair GBP/USD declines […]
USD/JPY hits a yearly high above 122.00, last seen Dec 2015
USD/JPY keeps its foot on the gas, extending its rally to five straight days. Fed officials hold the view that 50bp hikes are not bad. US initial jobless claims fell below 200,000, the lowest level since 1969. The pair USD/JPY continues to extend its rally, breaking the 122.00 mark, supported by the hawkish line talk […]
USD/CAD unable to stop eight-day slide, bears target 1.2500
The Loonie continues to rise against the dollar, as USD/CAD shows with a 0.27% drop. A mixed market mood keeps the CAD in the driver’s seat amid a firm US dollar. USD/CAD Price Forecast: Bias to the downside, threatening to break below 1.2450. The USD/CAD Posts modest losses as Thursday’s North American session begins, after […]
Manufacturing PMI falls to 55.5 points in March vs. 56.7 expected
Business activity in the UK manufacturing sector lost momentum in early March. GBP/USD continues to push lower towards 1.3150 after the data. The UK manufacturing PMI decreased to 55.5 points in early March from the 58 seen in February, data released jointly by S&P Global and CIPS showed on Thursday. This digit did not meet […]
Markets remain cautious ahead of PMI data and Fed speeches
This is what you need to know to trade today Thursday March 24: The dollar capitalized on safe-haven flows on Wednesday and the US dollar index (DXY) closed in positive territory. The cautious market mood helps the greenback preserve its strength against rivals early on Thursday and DXY continues to push higher towards 99.00. IHS […]
USD/CAD remains below the 200 DMA
The loonie is holding firm against the greenback, with USD/CAD down 0.37% on the week. The Russia/Ukraine woes and the US central bank’s hawkish line couldn’t stop the CAD bulls from extending USD/CAD’s losses. USD/CAD Price Forecast: Downside Bias Once Exceeded 200 DMA. The fall of USD/CAD extends to seven consecutive days amid a risk-off […]
USD/MXN falls sharply as bears eye 20.1500 ahead of Banxico meeting
USD/MXN remains down around 1% on the week. Geopolitical problems in Eastern Europe and the Fed keep riskier assets under pressure. Rabobank: Banxico will raise 50 bps and expects bank rates to end around 8% in 2022. USD/MXN Price Forecast: Bias to the Downside as a break of 20.1500 is seen, exposing the psychological level […]
USD/MXN falls as bears eye 20.15
The Mexican peso advances firmly against the greenback, despite the drop in oil prices. An upbeat market sentiment drives emerging market currencies. USD/MXN Price Forecast: Neutral bias, but upside and downside risks remain. The MXN is rebounding strongly despite the US Federal Reserve raising rates for the first time in three years, but interest rate […]