USD/CHF extends its rally to four straight days, refreshing seven-week highs. Solid resistance lies around the confluence of the upper trend line of an ascending channel and a psychological price level around 0.9800. The USD/CHF is advancing strongly after hitting a daily low at 0.9726. in the North American session. USD/CHF is trading at 0.9758 […]
Tag: Majors
AUD/USD hovers around 0.6850 below daily high around 0.6900
AUD/USD remains positive, although far from daily highs. Fed Mester: Expect the Fed Funds Rate (FFR) to end at around 4% in 2023. Mixed US economic data, a tailwind for AUD/USD. The AUD/USD it is almost lateralized, although far from the highs of the day after reaching a daily high above the 0.6900 mark. Factors […]
USD/JPY remains around 138.60 ahead of US NFP figures.
USD/JPY remains in a tight range as traders prepare for the August NFPs in the US. The US ADP employment change disappointed, but the Chicago PMI beat estimates. The Bank of Japan will carry out 10-year JGB note buying operations in September, further confirming its dovish stance. The USD/JPY is unable to reach a new […]
EUR/USD hovers around 10057 after hitting new highs for the week
EUR/USD advances strongly ahead of US NFPs and next week’s ECB monetary policy decision. The Cleveland Fed’s Mester expects Fed funds rates to rise above 4% and would like to keep them higher for longer. ECB hawks expect at least a 50 basis point hike at the September 8 meeting. Money market futures estimate that […]
EUR/USD leaves behind daily lows near 0.9970
EUR/USD bounces away from lows initially hit in the 0.9970 area. The dollar gives back part of the recent advance beyond 109.00. EMU inflation figures surprised to the upside in August. After a push towards the 0.9970 area, the EUR/USD managed to gain traction and regain parity on Wednesday. EUR/USD finds support around 0.9970 EUR/USD […]
USD/CAD holds on to modest gains near 1.3100 after Canadian data
USD/CAD hit its highest level since mid-July above 1.3100. The Canadian economy expanded at a softer-than-expected pace in the second quarter. The USD struggles to gain strength after weak employment data. The pair USD/CAD gained momentum to the upside and hit its highest level since mid-July at 1.3132 before erasing part of its daily gains. […]
DXY Price Analysis: Next upside target at 2022 peak
DXY extends Tuesday’s gains and recovers the area above 109.00. Immediately on the upside is the cycle high at 109.47 (Aug 29). The US Dollar Index trades firmer and extends the rebound past the 109.00 barrier on Wednesday. The index appears to have entered a consolidation phase, with the lower bound at recent lows near […]
EUR/USD Price Analysis: Range Likely to Remain Limited…To NFP?
EUR/USD is under modest pressure below parity. Solid containment remains around the 0.9900 area. The EUR/USD loses some ground after Tuesday’s two-day highs in the 1.0050/55 band. Further consolidation seems the most likely scenario in EUR/USD at the moment, still within the 1.0100-0.9900 range. The pair is expected to keep this theme unchanged for the […]
GBP/USD: The next step down is 1.1580 – UOB
In the opinion of the currency strategists of UOB Group, Lee Sue Ann and Quek Ser Leang, the GBP/USD it is still at risk of a deeper setback in the short term. 24 hour outlook: “Our expectations that the pound would trade sideways yesterday were wrong as it tumbled to a low of 1.1622 during […]
Forex Today: Spotlight on European Inflation Data and US ADP Report.
This is what you need to know to trade today Wednesday, August 31: Markets remain relatively subdued midweek as investors await euro zone inflation data. In the second half of the day, the new ADP employment report for the private sector will be the protagonist of the US economic docket. In early morning Europe, US […]