Sterling Rises with Upbeat Retail Sales
Sterling Rises with Upbeat Retail Sales The Pound Sterling (GBP) is gaining strength following the release of upbeat United Kingdom Retail Sales data. Consumer spending growth in June exceeded expectations, with Monthly Retail Sales expanding by 0.7% compared to the anticipated 0.2%. Additionally, annual consumer spending data contracted by 1.0%, surpassing the consensus of -1.5%. […]
The GBP/USD pair continues to experience pressure, hovering near the 1.2920 level
The GBP/USD pair continues to experience pressure, hovering near the 1.2920 level The GBP/USD pair is enduring continuous strain, staying close to the critical 1.2920 level as the European session commences. This stress is fueled by the weaker-than-expected inflation data from the UK for June. The monthly Consumer Price Index (CPI) saw a mere increase […]
EUR/USD Volatility Rises Above 1.1200 Ahead of US Retail Sales
EUR/USD Volatility Rises Above 1.1200 Ahead of US Retail Sales As the anticipated US Retail Sales data for June looms, the EUR/USD pair has experienced a noticeable increase in volatility, crossing the significant 1.1200 threshold. This major currency pair has found a degree of stability as investors from around the globe eagerly await these crucial […]
Pause in US Dollar Sell-off Anticipated Prior to Confidence Data Release
Pause in US Dollar Sell-off Anticipated Prior to Confidence Data Release The US Dollar, which has been on a downward trajectory against other currencies, is anticipated to experience a temporary pause in its sell-off as the market eagerly awaits the release of key confidence data. The greenback hit a 15-month low before it began to […]
AUD/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting Two-day High
AUD/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting Two-day High The AUD/JPY cross is showing signs of momentum, pushing past the 100-hour Simple Moving Average (SMA) and reaching a two-day peak. This trend mirrors the progress of the EUR/USD pair, which is also advancing towards a fresh 2023 high close to 1.1150. The performance […]
Dollar Dips to Three-Month Low Anticipating Inflation Data
Dollar Dips to Three-Month Low Anticipating Inflation Data Anticipating the forthcoming US inflation report, the US dollar, a formidable force in the international currency market, has seen a decline, reaching a three-month low. This drop is seen as an indicator of the possibility that the Federal Reserve’s tightening strategy may be nearing its end. The […]
US Dollar Dips Under Key Support Level
US Dollar Dips Under Key Support Level The financial week started on a cautiously optimistic note, with European and US stocks registering slight increases. However, investor sentiment was somewhat dampened by the announcement of stricter capital requirements for US banks. This news impacted the performance of several mega-cap companies, with tech giants such as Tesla […]
USD/CHF modestly gains near 50-DMA, bulls eyeing a move above 0.9000
USD/CHF modestly gains near 50-DMA, bulls eyeing a move above 0.9000 The USD/CHF pair has been modestly gaining near the 50-day Simple Moving Average (SMA), with traders watching closely for a move above the significant 0.9000 level. This comes as the pair has continued to trade positively for the fourth day in a row. However, […]
With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI
With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI Amid the recovery in oil prices and ongoing struggles of the US Dollar, the USD/CAD pair is experiencing a downward trend, moving towards the 1.3200 mark ahead of the release of Canada’s PMI. The USD/CAD has slid to […]
DXY Falls Under 103.00 Amid Varied Sentiment, Anticipates Fed Minutes, US NFP
DXY Falls Under 103.00 Amid Varied Sentiment, Anticipates Fed Minutes, US NFP The US Dollar Index (DXY), a measure of the US dollar’s strength against a group of other major currencies, has seen a significant drop, touching an intraday low of around 102.90. This downward shift continues the retreat from a three-week high observed the […]
Anticipation Grows for Possible FX Intervention to Support Japanese Yen
Anticipation Grows for Possible FX Intervention to Support Japanese Yen The Japanese Yen has faced a considerable amount of pressure recently, depreciating by 3.5% against the US Dollar and by over 5.6% against the Euro since the start of the month. The EURJPY pair has ascended to its highest point since September 2008, while the […]
US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq
US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq US indices showed varied performance in a subdued trading session. The Nasdaq index experienced a decline of over 1% as Big Tech companies retreated, making it the poorest-performing index of the day. Tesla shares took a significant hit, falling by 6% following […]
USD/CHF: Bears target mid-0.8900s as USD pulls back before inflation hints
USD/CHF: Bears target mid-0.8900s as USD pulls back before inflation hints During Monday’s European trading session, the USD/CHF currency pair is witnessing a downward trend, hovering around 0.8950, marking its first daily decrease in three days. This decline is primarily fueled by the US Dollar’s broad retreat and cautiously optimistic market sentiment. The US Dollar […]
Dollar firm ahead of Powell testimony, sterling up on hot inflation
Dollar firm ahead of Powell testimony, sterling up on hot inflation The dollar was firmer on Wednesday leading into Federal Reserve Chair Jerome Powell’s appearance before Congress where he is expected to strike a hawkish tone, while sterling firmed slightly after hotter-than-expected British inflation data. The annual pace of British consumer price gains was steady […]
US Dollar holds steady to start week, eyes on central bank speak
US Dollar holds steady to start week, eyes on central bank speak The US Dollar (USD) holds steady early Monday after having suffered large losses against its major rivals last week. Stock and bond markets in the US will be closed in observance of the Juneteenth holiday. The European economic docket will not be featuring […]
XAU/USD defends 100-day SMA ahead of the crucial FOMC decision
XAU/USD defends 100-day SMA ahead of the crucial FOMC decision Gold price once again attracts some buyers near the 100-day Simple Moving Average (SMA) on Wednesday and recovers a part of the previous day’s slide to the weekly low. The XAU/USD sticks to its modest intraday gains heading into the European session and currently trades […]
XAU/USD bears approach $1,930 support on upbeat US Dollar
XAU/USD bears approach $1,930 support on upbeat US Dollar Gold Price (XAU/USD) stays on the bear’s radar for the second consecutive day as the precious metal renews intraday low near $1,945, extending the post-NFP losses amid to early Monday amid firmer US Dollar and the Treasury bond yields. That said, the US Dollar Index (DXY) […]
USD/JPY Regains Strength
USD/JPY Regains Strength USD/JPY climbed higher above the 132.50 resistance zone. A connecting bullish trend line is forming with support near 134.50 on the 4-hour chart. EUR/USD slowly moved below the 1.0620 support zone. The US GDP grew 2.7% in Q4 2022, less than the 2.9% forecast. The US Dollar gained strength for a steady […]