The Australian Dollar is losing ground amid a sourer market mood
The Aussie is going through a corrective reversal on Monday after failure to beach the 0.6685 resistance area, and bears looking at the intra-day low, at 0.6635. The calendar is light today, with only the US Factory Orders data on tap, although the cautious market mood, is underpinning support for the US Dollar, to the […]
AUD/USD loses ground around 0.6605 amid the rebound of USD
The AUD/USD pair holds above the 0.6600 psychological mark during the early Asian session on Friday. However, the rebound of the US Dollar (USD) might cap the pair’s upside in the near term. Meanwhile, the US Dollar Index (DXY) surges to 103.50 while the US Treasury bond yield edge higher, with the 10-year Treasury yield […]
The AUD/USD is seeing a firm rally after rebounding off of 0.6600
The AUD/USD kicked into a 16-week high twice on Tuesday, climbing to 0.6632 early in the session despite a downside print in Australian Retail Sales. The Aussie (AUD) waffled back into the 0.6600 handle against the US Dollar (USD) before markets again rallied the AUD/USD into 0.6660. Australian October Retail Sales came in below expectations, […]
GBP/USD extends gains on growing speculation that the Fed has concluded the rate-hike cycle
GBP/USD moves sideways around 1.2610 during the European session on Monday. The weakening of the US Dollar (USD), driven by growing speculation that the Federal Reserve has completed its interest rate hikes, has worked in favor of the Pound Sterling (GBP). Additionally, the Cable pair could receive an extra boost due to hawkish remarks from […]
Spot Silver is surging late on Friday, tests 12-week high
XAG/USD tapped $24.30 in the back half of Friday’s trading, testing Silver’s highest bids in almost 12 weeks. Market sentiment is testing higher heading into the trading week’s close, and markets are set to see an early drop in trading volumes. Wall Street will be going dark a little bit early today, with US markets […]
USD/CAD weakens due to the likelihood of no more rate hikes by the Fed
USD/CAD continues to lose ground for the third consecutive session, bidding lower near 1.3680 during the Asian hours on Thursday. The USD/CAD pair encounters a hurdle as market participants are adjusting to the likelihood of no additional rate hikes by the Fed. which erodes the safe-haven allure of the US Dollar (USD). However, the Canadian […]
USD/CAD attracts fresh buyers on Wednesday
The USD/CAD pair regains positive traction on Wednesday and holds its neck above the 1.3700 round-figure mark through the first half of the European session. The Canadian Dollar (CAD) is undermined by softer domestic consumer inflation figures released on Tuesday, which now seem to have dashed hopes for any further rate hikes by the Bank […]
EUR/USD reaches fresh three-month highs around 1.0965
EUR/USD advances for the fourth consecutive session, hitting new peaks around 1.0965 on turnaround Tuesday. The continuation of the upward bias could see the psychological threshold of 1.1000 revisited prior to the August high of 1.1064 (August 10). So far, while above the significant 200-day SMA, today at 1.0806, the pair’s outlook should remain constructive.
EUR/JPY drops to multi-day lows in the sub-162.00 area
EUR/JPY extends the decline below the 162.00 support at the beginning of the week. Further downside appears well on the cards for the cross in the short-term horizon. That said, losses could then accelerate to the provisional 55-day SMA at 158.87 ahead of the interim 100-day SMA at 158.02. So far, the longer-term positive outlook […]
Gold price gains traction for the second straight day
Gold price (XAU/USD) scales higher for the second straight day – also marking the fourth day of a positive move in the previous five – and retests a nearly two-week high, around the $1.987-1,988 region during the first half of the European session. The incoming US macro data, including the softer US CPI and PPI […]
