GBP/USD Price Analysis: Sterling Weakens Further, Key Support Levels in Sight
The Pound Sterling (GBP) continued its decline against the US Dollar (USD) on Tuesday, dropping below the 1.2700 mark amid a quiet UK economic calendar and mixed US data. The pair currently trades at 1.2688, down 0.12% for the day. Technical Outlook: GBP/USD Faces Downside Risks Despite a brief rebound from a multi-week low of […]
Gold Dips as Fed’s Reluctance to Cut Rates Bolsters Dollar
Gold (XAU/USD) prices edged lower on Monday, trading around the $2,310 mark, weighed down by the prospect of sustained high US interest rates. The Federal Reserve (Fed) signaled reluctance to ease monetary policy in the near term, citing persistent inflation concerns, which in turn strengthens the US Dollar (USD) against which gold is priced. Market […]
EUR/GBP Plunges to 22-Month Low Amid French Election Turmoil
The EUR/GBP pair plummeted to a fresh 22-month low on Friday, briefly touching the 0.8400 mark before staging a minor recovery. However, the pair remains firmly in the grips of a three-month downtrend that began in April. Political turmoil in France and anticipation for the Bank of England’s (BoE) upcoming rate decision continue to weigh […]
AUD/JPY Price Analysis: Bulls Retreat, Support Tested at 20-Day SMA
The AUD/JPY pair experienced a pullback on Thursday, dipping towards 104.00 as buyers took profits after the pair’s recent surge above the 20-day Simple Moving Average (SMA). This key technical level, once a resistance point, is now under scrutiny as potential support to prevent further declines. However, the ongoing consolidation phase suggests a lack of […]
EUR/USD Soars Above 1.0800 as Soft US Inflation Ignites Rate Cut Hopes
The EUR/USD pair surged on Wednesday, breaking the 1.0800 resistance level after the release of softer-than-expected US Consumer Price Index (CPI) data for May. This sparked a wave of optimism that the Federal Reserve (Fed) might cut interest rates sooner than previously thought, possibly as early as September. US Inflation Cools, Euro Heats Up Both […]
AUD/USD Dips on Mixed Australian Data, Fed Decision Looms
The AUD/USD pair is experiencing slight losses on Tuesday, hovering around the 0.6605 mark. This downward pressure follows a brief rebound on Monday, as sellers return to the market ahead of the highly anticipated Federal Reserve (Fed) meeting conclusion and US May inflation data release on Wednesday. While the Australian economic outlook remains mixed, with […]
US Dollar Strengthens Ahead of Key Inflation and Fed Announcements
The US Dollar Index (DXY) extended its recent gains on Monday, edging closer to the 105.23 mark. This upward momentum, building on Friday’s rally, reflects continued confidence in the robust US economy. Market attention remains firmly focused on Wednesday’s release of the May Consumer Price Index (CPI) and the subsequent Federal Reserve (Fed) meeting. These […]
Mexican Peso Nears Post-Election Lows Amid Reform Fears
The Mexican Peso (MXN) has weakened, approaching its post-election lows against major currencies, as investor concerns grow over potential radical constitutional reforms proposed by the newly re-elected left-wing government. The USD/MXN pair has climbed above 18.10, reaching 18.12 at the time of writing. EUR/MXN and GBP/MXN also experienced declines, trading at 19.62 and 23.11, respectively. […]
Canadian Dollar Steady as Markets Await Key US Jobs Data
The Canadian Dollar (CAD) remained relatively unchanged on Thursday as market participants braced for crucial employment figures from both the US and Canada on Friday. While expectations for a September rate cut by the US Federal Reserve remain high, the possibility of a delay until November is still on the table. Market Drivers: Canadian and […]
Pound Sterling Retreats on Strong US Services PMI
The Pound Sterling (GBP) is facing pressure against the US Dollar (USD) on Wednesday, falling from a high of 1.2800. This decline coincides with a rebound in the USD after the release of a stronger-than-expected US ISM Services PMI report. Market Movers: Daily Market Analysis: UK Economic Calendar: Technical Analysis: The Pound Sterling’s decline reflects […]
