USD/JPY tumbled, due to its high correlation with 10-year US Treasury yields, falling below 2.80%. Fed’s Bowman: The Fed should consider 75 basis points in future meetings. The US CPI and PPI for July, both inflation readings are in the spotlight. The USD/JPY starts the week on the wrong foot, dipping below the 50 day […]
Tag: Sentiment
USD/JPY Price Analysis: Around the 200 hourly MA as sellers and buyers clash
USD/JPY advances although it struggles for resistance at 134.00. US Treasury bond yields pull back from daily highs, capping USD/JPY’s upside move. USD/JPY has a short-term bullish bias, but a break above the 200 hourly EMA is needed to pave the way towards 136.50. The USD/JPY advances strongly during the North American session, underpinned by […]
USD/CHF Price Analysis: Buyers try to stay strong around the 100 DMA
USD/CHF buyers reclaim the 0.9600 area and lift the pair to a daily high of 0.9651. US dollar strength amid rising risk appetite, tailwind for USD/CHF. The break of the trend line on the hourly chart exacerbates the USD/CHF rally above 0.9600. The USD/CHF rises above the 100-day EMA and extends its gains to two […]
Gold Forecast: XAU/USD Sinks on Risk Appetite, Rising US Bond Yields
Gold price retreats from $1,770 on boost from US bond yields. The general strength of the US dollar and the risk impulse, headwinds for gold. Gold Price Forecast (XAUUSD): The failure of the sellers at $1,787 caused the pair to stumble towards the $1,750 area. the price of gold down from $1,770 highs on high […]
EUR/USD trades at 1.0200, falls on risk aversion
The shared currency struggled near 1.0300 and fell below 1.0200 before recovering to the current level. Risk aversion keeps traders flowing into safe-haven currencies like the dollar. EUR/USD Price Analysis: If it fails to hold above 1.0200, EUR/USD could drop towards 1.0100; otherwise, a rally to 1.0300 is anticipated. The EUR continues to weigh and […]
USD/CAD remains above the 50-day EMA
USD/CAD has risen on risk-off momentum, spurred by US-China geopolitical jitters. In the currency space, haven pairs like the dollar, yen and Swiss franc are appreciating. Fed Daly: The Fed must remain committed to reducing inflation. The USD/CAD it rises above the 50-day EMA, due to several factors, such as the visit of the Speaker […]
Forex Today – Asian Session: Technical Recession Not a Recession?
What to watch for on Friday, July 29: Thursday was another volatile day, with financial markets battling for direction. The dollar remained under pressure during Asian trading hours, resurfaced during the European session and came under pressure again in the US afternoon. The USD’s intraday advance could be attributed to renewed recession-related fears following the […]
EUR/GBP Price Analysis: Breaking from weekly highs and trading below the 200-day EMA
EUR/GBP lost more than 1% on the week. US equities continue to rise, but sentiment will turn cautious on the FOMC decision. EUR/GBP Price Analysis: In the long and short term, it has moved lower. The EUR/GBP falls for four days in a row and on its way south breaks below the 100 and 200 […]
GBP/JPY Price Analysis: Double bottom on the hourly chart pushes the pair above 164.70
GBP/JPY rallies 200 pips and hits a daily high of 165.08. Sterling was buoyed by market sentiment, despite US data reigniting recession fears. GBP/JPY remains range bound after hitting a double bottom target at 164.50. The GBP/JPY erases last Friday’s losses and gains close to 1% on Monday, amid a better market mood, with US […]
Germany: Business Climate IFO falls to 88.6 in July vs. 90.5 expected, its worst result in 25 months
The IFO Business Climate Index stood at 88.6 in July. The current economic valuation fell to 97.7 this month. The expectations index fell to 80.3, below estimates. The German IFO Business Climate Index fell to 88.6 in July, worsening last month’s 92.2 points (revised 92.3) and consensus estimates of 90.5. This is the worst result […]
