GBP/USD: Pound Sterling (GBP) trades within a narrow range on Tuesday
Pound Sterling (GBP) trades within a narrow range on Tuesday as traders await fresh catalysts to provide clearer direction on the timing of potential Bank of England (BoE) interest rate cuts. GBP/USD is consolidating, with upside limited by expectations of eventual BoE rate cuts, while a softer US Dollar prevents further downside. The US Dollar […]
EUR/USD continues to cycle north of 1.0800
EUR/USD cycled on Friday, stuck in a near-term range between 1.0840 and 1.0810 as markets settle in for the weekend and gear up for the long wait for significant data. Fresh figure prints aren’t due until the back half of next week, and the pair is hanging onto the top half of the week’s chart […]
USD/CAD: Markets churned on Thursday after mixed US PMI figures
USD/CAD drifted into the low end early Thursday as markets geared up for the day’s US Purchasing Managers Index (PMI) print. Mixed results left markets a little less confident, and the pair traveled notable ground to wind up close to flat on the day. Canada saw a similar mixed result in its Retail Sales figures, […]
EUR/USD: Markets shuffled after Fed Minutes which focused on downside risks
EUR/USD drifted into the midrange on Wednesday after the US Federal Reserve (Fed) published its latest Minutes which showed policymakers continue to remain focused on downside risks. Inconsistent inflationary pressures in the US economy is keeping the Fed back from rate cuts, and policymakers continue to wait for further signs of inflation dropping to the […]
EUR/USD climbed above 1.0800 on Tuesday
EUR/USD climbed to a two-week high just shy of 1.0840 on Tuesday after the US Dollar (USD) broadly fell before recovering in the US trading session after American markets returned to the fold following an extended weekend. EUR/USD reclaimed the 1.0800 handle for the first time in a week as the pair grapples with jump-starting […]
EUR/USD trades slightly lower in quiet session
The Euro lost ground against the US Dollar amid thin trading in the observance of President’s Day in the United States (US). At the time of writing, the EUR/USD pair fluctuates around 1.0770s, down by 0.07%, after hitting a daily high of 1.0789. During the European session, the Bundesbank noted that Germany’s economy is likely […]
Mexican Peso drops amid strong Dollar
The Mexican Peso (MXN) appreciated against the US Dollar (USD) on Friday after data released in the United States (US) indicated that inflation is still high. A University of Michigan (UoM) poll suggests Americans see an improvement in economic conditions, while inflation expectations loom at around 2.9% and 3%. Initially, the US Dollar strengthened, but […]
The US Dollar snaps below the first important support
The US Dollar (USD) is accelerating the trimming of its weekly gains, which got booked on Tuesday in the aftermath of the red-hot inflation report. Several analysts and economists were quick to write off the report as a one-off, with even US Federal Reserve member Austan Goolsbee saying that markets should not take into account […]
EUR/USD recovers from dip into 1.0700
EUR/USD found thin footing to stage a rebound from a decline into 1.0700, but the high side is looking far away as the pair remains challenged by bearish flows as the US Dollar (USD) finds broad-market support after US inflation figures on Wednesday spooked market sentiment. European Gross Domestic Product (GDP) figures met expectations, but […]
Pound Sterling jumps strongly on upbeat UK labor market data
The Pound Sterling (GBP) discovers a stellar buying interest in Tuesday’s early European session as the United Kingdom Office for National Statistics (ONS) has reported upbeat employment data for the three months ending December. The labor demand remains upbeat, and Average Earnings rose at a higher pace than the expectations of market participants. Hiring from […]
