GBP/USD remains positive for the week, up 0.82%. UK Prime Minister Boris Johnson won the no-confidence motion and the pound reacted positively. The World Bank cuts global economic growth to 4.1%. The UK PMI remains in expansionary territory, showing that the economy is slowing down. The US trade deficit has shrunk to the most in […]
Tag: Sentiment
AUD/USD Price Analysis: Rises above 0.7200 amid risk aversion
AUD/USD is set to end the week in the positive, up 0.90%. The odds that the US Federal Reserve will raise interest rates by 0.50% in September stand at 80%. AUD/USD Price Forecast: Range Limited as DMAs Trendless and RSI Shows Mixed Signals. the australian dollar falls during the last day of the week but […]
AUD/JPY Price Analysis: Update two-month highs near 94.40 on risk appetite sentiment and yen weakness
AUD/JPY extends its weekly gain, rising 3.71%. Sentiment improved on the session, despite the economic backdrop, with investors fearing a potential global economic downturn and food crisis. AUD/JPY Price Forecast: Consolidating in 94.00-40 range before pushing year high above 95.00. The AUD/JPY It is advancing strongly after hitting a daily low below 93.00, rising to […]
Forex Today – Asian Session: Dollar Lower, But Not Defeated Yet
What to watch for on Friday, June 3: The dollar reversed course on Thursday and gave back all of its Wednesday gains and more. Declining government bond yields and tepid US employment data put pressure on the US currency, weighed down later by the positive tone on Wall Street. Concerns related to economic growth and […]
USD/JPY Price Analysis: Trapped around 129.50 on risk aversion
USD/JPY pulls back from weekly highs above 130.00 and falls below the 20-hour SMA, targeting 129.50. Risk appetite has improved but remains fragile and could change at any time. USD/JPY Price Forecast: On the 1 hour chart, USD/JPY is in a range, but slightly slanted to the downside. The USD/JPY pulls back from three-week highs, […]
Forex Today – Asian Session: Risk Flows Dominate the Scene
What to watch for on Wednesday, June 1: The day will kick off with the release of Australia’s first quarter Gross Domestic Product and May AIG Manufacturing PMI. Disappointing readings could spark risk aversion after poor Chinese data released early on Tuesday. EU inflation soared to a record 8.1% year-on-year in May, according to preliminary […]
EUR/JPY Price Analysis: The pair rises towards 137.55
EUR/JPY bulls regain control and prepare to target 138.00. Sentiment has improved as China is about to ease some Covid-19 restrictions in Beijing and Shanghai. EUR/JPY Price Analysis: Rising Wedge breakout to the upside and RSI in bullish territory puts bullish pressure on the currency pair. The EUR/JPY breaks above the top of the rising […]
USD/CAD Price Analysis: Selling pressure builds around 1.2780 as bears look for a break below the 100 DMA
The Canadian dollar is posting nice gains for the week of 0.85%. A positive market sentiment fueled appetite for high beta currencies such as the CAD. USD/CAD Price Forecast: Facing strong support around 1.2694-1.2700. The USD/CAD declined in the North American session, extending its weekly losses for the third week in a row, as investors […]
Forex Today – Asian Session: Dollar Remains Bearish
What to watch for on Wednesday, May 25: The US dollar remained weak on Tuesday, despite a sour market mood. The EUR/USD pair surged past 1.0700 as ECB officials promised a 50 basis point rate hike. The GBP/USD pair, however, fell after softer-than-expected local data and ended the day at the 1.2520 area. S&P Global […]
GBP/USD Price Analysis: Facing resistance around 1.2600 and pulling back towards 1.2535
The pound trims part of Monday’s gains and pulls back towards the 1.2530 area. Risk aversion and weaker than expected UK PMIs weighed on GBP/USD. GBP/USD Price Forecast: A daily close below 1.2600 to leave the major exposed to additional selling pressure. Sterling went on the defensive as sentiment turned sour weighed down by weaker-than-expected […]
