USD/CAD falls vertically below 1.3700

The USD/CAD pair fell sharply below the round-level support of 1.3700 after the release of the United States/Canada labor market data. The Loonie asset witnesses an intense sell-off as the US Dollar Index (DXY) drops swiftly on the soft US Nonfarm Payrolls (NFP) report for October. The US Bureau of Labor Statistics (BLS) reported that […]

EUR/USD regains the smile and briefly surpasses the 1.0600 barrier

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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/USD adds to Tuesday’s decline and retreats to 1.0570

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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

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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 refreshes day low as higher oil prices strengthen the Canadian Dollar

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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 […]

GBP/USD attracts some buying on Monday

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The GBP/USD pair catches fresh bids on the first day of a new week and sticks to its intraday gains through the early part of the European session. Spot prices currently trade around the 1.2175-1.2180 region, up 0.30% for the day, and for now, seem to have snapped a two-day losing streak to a one-week […]

USD/JPY snaps the recent winning streak ahead of US data

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USD/JPY trades lower around 149.70 during the European session on Friday, snapping a three-day winning streak that began on Tuesday. Despite reaching weekly highs, the USD/JPY pair has experienced a pullback, attributed to the retreat in the US Dollar (USD). The US Dollar Index (DXY) trades lower around 106.30 by the press time, retreating from […]

The Pound Sterling (GBP) holds onto gains

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The Pound Sterling (GBP) holds onto gains inspired by the higher risk appetite of the market participants. The GBP/USD pair remains bullish despite the Office for National Statistics (ONS) reporting that United Kingdom factory data in August contracted for the second time in a row. UK firms operated on lower capacity as they aimed to […]

USD/JPY rose above 149.00, gaining 0.20% on the day

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On Wednesday, the USD/JPY gained additional ground, rising back above 149.00. Hot Producer Price Index (PPI) failed to trigger a significant move on the USD, and the trajectory of the pair seems to be determined by the dovish stance of the Bank of Japan (BoJ). Later in the session, markets will monitor the Federal Open […]

USD/JPY trades back and forth around 149.00

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The USD/JPY pair consolidated in a narrow range of around 149.00 as investors remained baffled between supporting the US Dollar and the Japanese Yen amid a risk-off mood. Deepening tensions between Israel and Hamas have prompted expectations of participation from other Middle East economies in the war, which has impacted the demand for safe-haven assets […]