EUR/USD slips below mid-1.0800s ahead of Eurozone CPI and US PCE Price Index
EUR/USD slips below mid-1.0800s ahead of Eurozone CPI and US PCE Price Index The EUR/USD pair faltered just before dawn, slipping below the mid-1.0800s. The numbers showed a partial retreat from yesterday’s high near 1.0870—a figure that hadn’t been seen in over a week and a half. Buyers had slowed, and the dollar, never one […]
GBP/USD Consolidates Around Mid-1.3000s, Vulnerable Amid Strong USD
GBP/USD Consolidates Around Mid-1.3000s, Vulnerable Amid Strong USD The GBP/USD pair struggles to maintain modest recovery gains from the past two days, trading within a narrow range around 1.3050-1.3045 during Monday’s Asian session. Spot prices remain close to last Thursday’s one-month low, signaling potential vulnerability for continued declines from the 1.3435 area, which marked the […]
EUR/USD Struggles Below 1.0950 Ahead of Key German Inflation Data
EUR/USD Struggles Below 1.0950 Ahead of Key German Inflation Data The EUR/USD pair continues to trade defensively around 1.0935 during early European hours on Friday. A stronger-than-expected U.S. inflation reading on Thursday has bolstered the U.S. dollar, limiting the pair’s ability to move higher. The U.S. Consumer Price Index (CPI) came in hotter than anticipated, […]
EUR/USD Climbs Above 1.1150 on Rising Prospects of Fed Rate Cuts
EUR/USD Climbs Above 1.1150 on Rising Prospects of Fed Rate Cuts EUR/USD started the week on a positive note, trading around 1.1170 during the Asian session on Monday. This uptick can be attributed to a weakening US Dollar (USD), driven by expectations of continued policy easing from the US Federal Reserve in November. On Friday, […]
Japanese Yen Drops as No Candidate Secures Majority in LDP Voting First Round
Japanese Yen Drops as No Candidate Secures Majority in LDP Voting First Round The Japanese Yen (JPY) continues to weaken for the third consecutive session, following the release of Tokyo’s Consumer Price Index (CPI) data on Friday. Investors are concerned that the Bank of Japan (BoJ) may delay further rate hikes, adding pressure to the […]
Japanese Yen Strengthens as Traders Anticipate BoJ Rate Hike
Japanese Yen Strengthens as Traders Anticipate BoJ Rate Hike The Japanese Yen (JPY) continues to gain momentum for the second consecutive day as Bank of Japan (BoJ) Governor Kazuo Ueda’s hawkish comments stand in stark contrast to the dovish tone of Federal Reserve Chair Jerome Powell. In a speech to Parliament on Friday, Governor Ueda […]
5 Key Forex News Events You Should Follow
5 Key Forex News Events You Should Follow In the fast-paced world of currency markets, where significant movements can occur without warning, it’s crucial for new traders to understand the various economic indicators and forex news events that influence the markets. Quickly identifying which data to watch, understanding its implications, and learning how to trade […]
NZD/USD Reclaims 0.6100 Amid Weaker USD, Limited Upside
NZD/USD Reclaims 0.6100 Amid Weaker USD, Limited Upside The NZD/USD pair is experiencing some dip-buying during the Asian session on Monday, aiming to build on Friday’s modest bounce from the mid-0.6000s, its lowest level since mid-May. Currently, spot prices hover around the 0.6100 mark due to a modest weakening of the US Dollar (USD). However, […]
EUR/USD Declines for Third Consecutive Day Ahead of Fed Rate Decision
EUR/USD Declines for Third Consecutive Day Ahead of Fed Rate Decision The EUR/USD experienced its third consecutive day of losses on Tuesday as market sentiment soured following the European Union parliamentary elections. The elections resulted in a significant shift towards center-right and far-right parties, with European voters showing strong support for these groups. Meanwhile, left-leaning […]
AUD/JPY Rises on Strong Australian Consumer Inflation Data
AUD/JPY Rises on Strong Australian Consumer Inflation Data The AUD/JPY currency pair continues its upward trajectory for the third consecutive day, recovering from initial losses earlier on Wednesday. This rally is supported by the release of unexpectedly strong Consumer Price Index (CPI) data by the Australian Bureau of Statistics (ABS), which significantly influences the Reserve […]
USD/CAD Drops as US Dollar Weakens and Oil Prices Fall
USD/CAD Drops as US Dollar Weakens and Oil Prices Fall The USD/CAD currency pair ended its five-day rally, settling at around 1.3820 during the Asian trading session on Wednesday. This shift was primarily due to a modest correction in the US Dollar (USD), which exerted downward pressure on the pair. Despite this, declining crude oil […]
China’s March CPI Inflation Eases to 0.1%, Below 0.4% Forecast
China’s March CPI Inflation Eases to 0.1%, Below 0.4% Forecast In March, China’s Consumer Price Index (CPI) experienced a marginal year-over-year increase of 0.1%, a notable deceleration from the 0.7% growth observed in February. This rise fell short of market predictions, which had anticipated a 0.4% increase. The slowdown in CPI growth is a significant […]
Japanese Yen Dips Versus USD as BoJ Uncertainty Lingers; Tokyo CPI in Focus Tuesday
Japanese Yen Dips Versus USD as BoJ Uncertainty Lingers; Tokyo CPI in Focus Tuesday The Japanese Yen (JPY) is experiencing renewed pressure after a slight recovery from its year-to-date low on Friday, as it enters the European trading session with a weaker stance against the US Dollar (USD). This development comes in the wake of […]
CPI and Forex: How CPI Data Affects Currency Prices
CPI and Forex: How CPI Data Affects Currency Prices In the ever-dynamic world of the forex market, a multitude of factors influences currency prices. Among these, the Consumer Price Index (CPI) stands out as a significant economic indicator. Understanding its impact is crucial for investors, particularly those involved with platforms like Xtreamforex, which provide a […]
EUR/USD Surpasses 1.0800, Awaits Eurozone CPI and US NFP
EUR/USD Surpasses 1.0800, Awaits Eurozone CPI and US NFP Despite reclaiming the 1.0800 area, the EUR/USD pair faces persistent pressure with a fifth consecutive weekly close in the negative zone. The European Central Bank’s (ECB) hawkish stance fails to provide the Euro the anticipated edge against its counterparts, even amid weaker Eurozone economic data. The […]
GBP/USD on Edge Before US Inflation Data and UK-China Sanctions
GBP/USD on Edge Before US Inflation Data and UK-China Sanctions GBP/USD remains cautious around 1.2715-20 ahead of Thursday’s London session, as investors tread carefully before the release of US inflation figures for July. Additionally, the Pound faces resistance due to reports of the UK considering restrictions on British investment in Chinese tech firms. Meanwhile, concerns […]
EUR/USD Stays Defensive Below 1.1000, Vulnerable Amid Modest USD Strength
EUR/USD Stays Defensive Below 1.1000, Vulnerable Amid Modest USD Strength At the start of the new trading week, the EUR/USD pair encountered notable selling pressure, leading to a retracement from its recent peak near the 1.1040 level. During the Asian session, spot prices slipped below the psychologically significant 1.1000 mark, temporarily disrupting the two-day recovery […]
AUD/USD Gains Momentum Above 0.6800 Amid Weakening USD
AUD/USD Gains Momentum Above 0.6800 Amid Weakening USD The AUD/USD currency pair demonstrated considerable strength during Thursday’s Asian trading session, surpassing the key 0.6800 level. This significant surge was largely driven by a weakening US Dollar, pushing the major pair to trade around 0.6807, marking a day’s gain of 0.75%. This movement exhibits the dynamic […]