This is what you need to know to trade today friday september 2: Buoyed by encouraging macroeconomic data releases in the US, the Dollar Index (DXY) reached its highest level in almost two decades on Thursday, around 110.00. With investors stepping back in anticipation of the US August jobs report, DXY consolidates gains near 109.50. […]
Tag: Majors
EUR/USD risks further decline below 0.9900 – UOB
A break of 0.9900 could accelerate losses in the EUR/USD in the short termforex strategists suggest UOB Group, Lee Sue Ann, and Quek Ser Leang. 24 hour outlook: “Euro’s sharp drop to a low of 0.9909 came as a surprise (we were expecting the euro to move in a range). Despite the quick rebound from […]
NZD/USD retests all-time lows around 0.6060 after positive US economic data.
NZD/USD stumbles below 0.6100 on risk aversion after positive US data. The odds of the Fed raising by 75 basis points have risen to 91%, STIR money market futures show. Trade data from New Zealand and the US Non-Farm Payrolls report is next on the economic calendar. The NZD/USD falls to multi-week lows around 0.6060 […]
AUD/USD falls below 0.6800 ahead of US NFPs.
AUD/USD is still trading in the red, currently down 1.90%. Global factory activity slowed, with the exception of the US, which remains in expansion territory. AUD/USD: Could form an inverse head and shoulders if buyers keep prices above 0.6881; otherwise 0.6402 is the next target. On Thursday, the AUD/USD fell to seven-week lows amid a […]
GBP/USD at fresh two-year highs below 1.1500
The US dollar strengthens after the ISM manufacturing PMI, ahead of the NFPs. GBP/USD falls for the fifth day in a row. Multi-decade low awaits at 1.1409 (March 2020). A stronger dollar pushed the GBP/USD below 1.1500 levels for the first time since March 2020. USD rises strongly on encouraging US economic data amid risk […]
EUR/USD Price Analysis: Solid support lies around 0.9900
EUR/USD sees its bounce cut back and returns to levels below parity. Firm containment is expected near the 0.9900 area. The EUR/USD is under renewed strong downward pressure, falling back below the key parity zone on Thursday. Further consolidation seems the most likely scenario in EUR/USD at the moment, still within the 1.0100-0.9900 range. The […]
US Dollar Index Price Analysis: Rise above 105.60 likely
DXY extends the upside and rises to 3-day highs near 109.20. Additional gains remain above the 105.60 region. The US Dollar Index (DXY) reverses Wednesday’s decline and resumes buying interest above 109.00 on Thursday. Prospects for a further bounce look solid as long as it is above the 7-month support line today around 105.60. On […]
USD/JPY faces a possible move beyond 140.00 – UOB
According to UOB Group strategists Lee Sue Ann and Quek Ser Leang, additional earnings could lift the USD/JPY above the 140.00 level in the short term. 24 hour outlook: “We expected the USD to trade sideways between 138.10 and 139.10 yesterday. Subsequently, the USD traded between 138.25 and 139.00 before closing at 138.96. The USD […]
Forex Today: The dollar begins September with a firm step
This is what you need to know to operate the Thursday September 1: Following Wednesday’s volatility amid month-end flows, the dollar gained strength early on Thursday with the Dollar Index breaking above the 109.00 zone. Although the dollar lost some interest after US data showed private sector employment grew at a much softer-than-expected pace in […]
EUR/USD maintains short-term consolidated trend – UOB
UOB Group currency strategists Lee Sue Ann and Quek Ser Leang noted that the EUR/USD navigate inside the range of 0.9940-1.0125 in the coming weeks. 24 hour outlook: “The EUR traded between 0.9972 and 1.0078 yesterday, expanding our expected sideways trading range of 0.9985/1.0060. Price actions offer no new clues and we expect the euro […]