04.01.24 – Pound Sterling surrenders gains as market sentiment dampens after US data
The Pound Sterling (GBP) faces selling pressure as market sentiment has dampened after the release of the upbeat United States private Employment data for December. The US Automatic Data Processing (ADP) reported that private payrolls rose by 164K against the consensus of 115K and the prior reading of 103K. Resilient labour demand in the US […]
03.01.2024 – Bitcoin Bounces Back as Markets Await US Inflation Data
The cryptocurrency markets experienced some volatility in recent days, with Bitcoin (BTC) falling as low as $42,000 before rebounding to above $45,000. The move upwards was likely fueled by investor optimism ahead of the release of US inflation data later this week. Economists are expecting inflation to remain elevated, which could support demand for Bitcoin […]
Canadian Dollar falls back as broader markets reverse into Greenback bids
The Canadian Dollar (CAD) continues to ease back as the 2024 trading year gets underway, extending near-term declines against the US Dollar (USD) to fall a full percentage point as the first trading week of the new year gets underway. The Canadian S&P Global Manufacturing Purchasing Managers’ Index (PMI) accelerated declines on Tuesday to print […]
EUR/JPY Price Analysis: The Euro downside attempts have been capped above 156.00
The Euro is looking for direction on a light session on the last trading day of the year. The pair´s reversal from 158.45 has been contained at the 156.10 support area with 1.57.00 capping bulls so far. Looking from a broader perspective, the pair is in a consolidation pattern, following a bearish impulse from November […]
The Dollar remains practically unaffected
The impact on the Dollar of the higher than expected US Jobless Claims in the US has been muted, as the pair remains consolidating losses near eight-year lows, at 0.8335. First-time claims for unemployment benefits increased by 218K in the US on the week of December, 15. This reading beats the market consensus of 110K […]
USD/CAD looks set for further breakdown
The USD/CAD pair trades back and forth in a narrow range near the round-level support of 1.3200 in the early New York session. The Loonie asset struggles for a direction amid the decline in volume due to a shortened week. S&P500 futures added nominal gains in the European session, portraying a higher risk-appetite of the […]
The GBP/USD is holding on the high side
The GBP/USD is on the high side amidst some rough chop in the US market session, holding above the 1.2700 handle the pair reclaimed during the European trading window after the UK reported better-than-expected Retail Sales in November. UK Retail Sales grew 1.3% MoM in November, beating the forecast 0.4% and rebounding from October’s flat […]
The AUD/USD rallied towards the 0.6775 level
The Australian Dollar (AUD) enjoyed an upward rally against the US Dollar (USD) in Thursday’s trading session, stimulated by the revision of the Q3 Gross Domestic Product (GDP) numbers that worked to soften the Greenback. Other medium-tier economic reports, including Jobless Claims and Philly’s Federal Reserve (Fed) Manufacturing Survey, added to the upside. In that […]
The XAG/USD approaches the $24.30 level, showing a 1% rally
In Wednesday’s session, XAG/USD is seeing a rally, currently trading at a level of $24.30, favored by the dovish shift in the Federal Reserve (Fed) and the fall to fresh lows of the US 10-year yield. Positive home sales from November from the US failed to trigger movements on the US Dollar. In that sense, […]
The Euro is crawling higher on Tuesday
The Euro (EUR) is showing a moderately positive tone on Monday, with the Dollar languishing near multi-month lows. The recent dovish pivot by the US Federal Reserve (Fed) and investor confidence that the US central bank will start cutting rates in the first quarter of 2024, is fuelling the positive market mood. This favorable scenario […]
