USD/CAD falls sharply to near 1.3800
The USD/CAD pair falls vertically after a short-lived pullback to near 1.3850 in the European session. The Loonie asset faces an intense sell-off as the US Dollar extends downside on expectations that the Federal Reserve (Fed) is done with hiking interest rates for now. S&P500 futures generated significant gains in the London session, portraying a […]
Gold price manages to recover some losses
Gold price (XAU/USD) extended its two-day losing spell but recovered some losses ahead of the interest rate decision by the Federal Reserve (Fed), private payrolls, and the Institute of Supply Management (ISM) Manufacturing PMI data for October. The precious metal falls sharply even though markets widely expect that the Fed will keep interest rates unchanged […]
EUR/JPY registers a fresh 15-year at 161.00
The EUR/JPY pair capitalizes on the expansionary monetary policy stance of the Bank of Japan (BoJ) and the Eurozone data. The cross extended gains to near 161.00 after the Eurostat reported that the preliminary Harmonized Index of Consumer Prices (HICP) for October softened more than expected. Monthly headline inflation grew nominally by 0.1% against 0.3% […]
EUR/USD regains the smile and briefly surpasses the 1.0600 barrier
EUR/USD picks up some buying interest and manages to surpass the key hurdle at 1.0600 the figure on Monday. In case bulls push harder, the pair should meet the next hurdle at the monthly high of 1.0694 (October 24), which comes just ahead of the round level of 1.0700 and prior to the weekly peaks […]
EUR/JPY resumes the downside and revisits the 158.00 zone
EUR/JPY fades Thursday’s small uptick and re-shifts its attention to the downside on Friday. Following the ongoing price action, the cross could have now entered a consolidative phase. Against that, the breakout of this theme could encourage the index to challenge the 2023 top at 159.91 (October 24) closely followed by the round level at […]
NZD/USD rebounds from 0.5773 to 0.5807
NZD/USD bounces off new year-to-date (YTD) lows reached at 0.5773 after US economic growth exceeded estimates, which could warrant additional tightening by the US Federal Reserve (Fed). Nevertheless, the pair made a U-turn and traded at 0.5807, gaining a decent 0.10%. The US Commerce Department revealed that the economy in the United States (US) grew […]
EUR/USD adds to Tuesday’s decline and retreats to 1.0570
EUR/USD remains under pressure and deflates to weekly lows in the 1.0570/65 band on Wednesday. If losses accelerate, then the pair could drop to the weekly low of 1.0495 (October 13) prior to the 2023 low of 1.0448 (October 3). The loss of the latter could put a probable visit to the round level of […]
Japanese Yen continues coiling in a right-angled triangle
The Japanese Yen (JPY) makes minor gains against the US Dollar (USD) on Tuesday, with the USD/JPY recovering from a weak start to return to familiar territory just below the key 150 level. The trend is up and biased to extend with the threat of a breakout from a right-angled triangle providing a bullish technical […]
USD/CAD treads waters above 1.3700
USD/CAD retraces intraday losses, trading around 1.3710 during the European session on Monday. The pair gains ground as the US Dollar treads waters to halt the recent losses, driven by higher US Treasury yields. Additionally, increased risk aversion, stemming from the Israel-Hamas military situation, contributes to the USD/CAD pair’s gains. However, the bearish trend in […]
USD/CAD refreshes day low as higher oil prices strengthen the Canadian Dollar
The USD/CAD pair faces selling pressure after a less-confident pullback move to near the round-level resistance of 1.3700 in the early New York session. The Loonie asset is expected to deliver a fresh downside below 1.3680 as the Canadian Dollar has strengthened due to upbeat oil prices. The demand for oil improves due to escalating […]
