The dollar index jumps to its highest level since December 2002. Wall Street indices fall more than 1%. NZD/USD is vulnerable to further losses while below 0.6200. The NZD/USD down nearly 90 pips on Tuesday, hurt by a stronger US dollar amid risk aversion. The USD rises sharply while stocks and commodities fall. The pair […]
Tag: RiskAversion
GBP/USD crashes below 1.2000, looks vulnerable near yearly lows
GBP/USD came under intense selling pressure on Tuesday and plunged to a three-week low. A combination of factors lifted the dollar to a new 20-year high and weighed on the pair. Brexit-related issues and less aggressive expectations from the Bank of England put further downward pressure on the GBP. The pair GBP/USD remained under intense […]
USD/CAD approaches 1.2950 amid retreating oil prices and broad-based USD strength
A combination of factors help USD/CAD regain strong positive traction on Tuesday. Falling oil prices weigh on the CAD and offer support to the pair amid aggressive buying around the USD. Fed expectations and recession fears continue to underpin the USD as a safe haven. The pair USD/CAD has attracted fresh buying near the 50-day […]
USD/MXN jumps to 20.45, dollar soars on recession fears
Emerging market currencies extend their weekly losses on Friday. US dollar remains firm on risk aversion, DXY rises 0.65%. USD/MXN tests critical resistance contained by the 100-week SMA. The U.S. dollar rose against emerging market currencies on Friday, extending weekly gains fueled by global concerns over growth prospects and central bank rate hikes. the mexican […]
NZD/USD slumps to two-year lows and looks vulnerable below 0.6200
NZD/USD witnesses heavy selling on Friday and falls to its lowest level since May 2020. Expectations for aggressive Fed rate hikes reignite USD demand and put downward pressure on the pair. Recession fears and risk-off sentiment further push money flows away from the risk-sensitive NZD. The pair NZD/USD struggled to capitalize on the modest recovery […]
Forex Today: Dollar Struggles to Gain Traction Amid Mixed Markets, Focus on US Data
This is what you need to know to trade today Tuesday June 28: The dollar index consolidates the previous day’s rebound around 104.00 at the start of the European session this Tuesday, while Asian stock markets struggle to gain traction amid a market sentiment mixed. US index futures also reflect the same cautious trait, fluctuating […]
USD/JPY pulls back further from 24-year highs, below 136.00
USD/JPY corrected from a fresh 24-year high and came under pressure from a combination of factors. Speculation that the authorities could intervene, the risk-off mood boosted the JPY as a safe haven. The lack of aggressive signals from Powell weighed on the dollar and added to the selling bias. The pair USD/JPY saw an intraday […]
Gold Price Forecast: XAU/USD Remains Under Pressure Near Weekly Low Before Powell
Gold moves lower on Wednesday for the fourth day in a row and hits a multi-day low. Expectations of a Fed rate hike benefit the dollar and put pressure on the yellow metal, denominated in dollars. Risk-off sentiment is unsupportive as attention turns to Fed Chairman Jerome Powell’s testimony. The Prayed has seen some selling […]
NZD/USD falls to a multi-day low around 0.6250
The NZD/USD breaks out of a three-day trading range amid broad-based USD strength. Expectations around the Fed rate hike and risk-off sentiment drive the safe-haven USD and weigh on the perceived riskier NZD. Bond prices look vulnerable to further decline as attention turns to Fed Chairman Jerome Powell’s testimony. The pair NZD/USD extends the previous […]
AUD/USD falls to fresh weekly low, bears now expect break below 0.6900
AUD/USD finds fresh selling on Wednesday and pulls back to the 0.6900 level. Expectations around the Fed rate hike and risk-off sentiment buoyed the safe-haven USD and weighed on the perceived riskier AUD. The spotlight remains on Fed Chairman Jerome Powell’s two-day testimony to Congress. The pair AUD/USD came under renewed selling pressure on Wednesday […]
