Sterling’s rally stalls below 188.00, with the bullish trend intact
The Sterling is going through marginal losses on Thursday, with the pair reaching heavily overbought levels following a strong appreciation on Wednesday. This has allowed the battered Japanese Yen to trim some losses, although the broader trend remains bullish. The pair is consolidating gains, with downside attempts limited above 187.30 so far. The stronger-than-expected UK […]
The Pound Sterling finds strong buying interest
The Pound Sterling (GBP) has surrendered some gains as the United States Retail Sales turned out significantly upbeat than expectations. The US Census Bureau has reported that consumer spending grew strongly by 0.6% against expectations of 0.4% and the former reading of 0.3%. Retail Sales excluding automobiles rose by 0.4% against expectations and the prior […]
The Canadian Dollar gave up further ground to the US Dollar
The Canadian Dollar (CAD) climbed against most of its currency trading peers on Tuesday but fell back against the US Dollar (USD), which took the top spot as the best-performing major currency. Canada’s Consumer Price Index (CPI) inflation in December mostly came in at expectation, but a lack of price growth easing has trimmed market […]
15.01 – Silver price consolidates around $23.60
Silver price (XAG/USD) trades back-and-forth around $23.30 in a thin-volume trading session due to holiday in the US markets on account of Martin Luther King Birthday. The broader appeal for non-yielding assets is still upbeat as investors seem more convinced about a reduction in interest rates by the Federal Reserve (Fed) from March after the […]
12.01 – EUR/USD’s early losses trimmed following military actions in Yemen
The Euro (EUR) trimmed some of its losses in early trading during the North American session after it dived toward its daily low of 1.0935 amid an escalation of the conflict in the Middle East. The US and the UK launching attacks against Houthi shifted sentiment sour, which had subsided lately. Hence, the EUR/USD trades […]
11.01 – Euro drops following US CPI figures exceeding estimates
The Euro (EUR) plunged in early trading on Thursday during the North American session after an inflation report from the United States (US) was higher than foreseen, which could deter the US Federal Reserve (Fed) from cutting rates soon. The EUR/USD trades at 1.0952, down 0.23%. The US Bureau of Labor Statistics (BLS) revealed that […]
10.01 – The Canadian Dollar sees little momentum in tight Wednesday trading
The Canadian Dollar (CAD) is stuck within a tight intraday range on Wednesday as broader markets pivot to focus on Thursday’s upcoming US Consumer Price Index (CPI) inflation print for December. Rate-cut-hungry markets will be looking for continued easing in price growth pressures from the US, but market forecast models are currently expecting a slight […]
09.01 – The US Dollar trades in the green while equities retreat
The US Dollar (USD) trades broadly steady on Tuesday’s European morning, posting gains against most G20 currencies. Still, measured by the DXY US Dollar Index, the Greenback was easing a touch as a firm risk-on tone returned on Monday in US equity markets. Asian stocks took over the mood on Tuesday, with the Japanese Nikkei […]
08.01 – USD/JPY’s 0.33% decline influenced by falling US bond yields
The USD/JPY begins the week on the back foot with the major sliding 0.33%, weighed by falling US Treasury bond yields and a soft US Dollar (USD). The lack of a catalyst on Monday keeps traders focused on the main event of the week, which is the inflation report in the US. At the time […]
05.01.2024 – The Pound Sterling climbed over the Greenback
The GBP/USD climbed into a new high for the year at 1.2771 after markets broadly went risk-on after the US Nonfarm Payroll (NFP) data release surged above median forecasts, adding 216K new jobs in December. The NFP print handily trounced market expectations of 170K. Still, November saw a steep revision from 199K to 173K, with […]
