Share: EUR/USD buoyed by hawkish ECB commentary bounces off 200-day EMA as Fed June rate hike expectations fade. The US trade deficit widens significantly to $-74.6B, driven by a decline in exports and a rise in imports. Rate hikes by BoC and RBA … [Continue reading]
USD/CAD drops to fresh multi-week low, struggles below 1.3400 ahead of BoC
Share: USD/CAD turns lower for the second straight day and drops to a nearly four-week low. A goodish intraday pickup in Oil prices underpins the Loonie and exerts some pressure. The emergence of fresh USD selling contributes to the slide ahead of … [Continue reading]
USD/JPY Price Analysis: Looks vulnerable above 139.00
Share: USD/JPY seems vulnerable above 139.00 as the USD Index is losing its charm. BoJ Ueda said the central bank will discuss specifics of an exit policy when achievement of the price target is foreseen. USD/JPY is expected to display a sheer … [Continue reading]
AUD/USD pauses RBA-led rally below 0.6700 as Australia Q1 GDP disappoints, China trade data eyed
Share: AUD/USD retreats from three-week high on downbeat Aussie economic growth figures. Australia Q1 GDP rose 0.2% QoQ versus 0.3% expected, 0.5% prior. RBA’s hawkish surprise, Governor Lowe’s hints of further rate hikes keep Aussie pair … [Continue reading]
Forex Today: Focus remains on the Aussie ahead of data, after RBA hike
Share: After Tuesday's 25 basis points rate hike, Australia will report Q1 GDP. RBA Governor Lowe will deliver a speech. Chinese trade data is due, and in Japan, the Leading Economic Index will be released. Later on Wednesday, German … [Continue reading]
Silver Price Analysis: XAG/USD trapped within EMAs as US bond yields climb
Share: Rising US bond yields curtail Silver’s momentum as it moves between key daily Exponential Moving Averages. XAG/USD breaking resistance at around $23.88 may propel Silver to challenge $24.00. A drop below the 100-day EMA and the June 5 low of … [Continue reading]
The longer the EUR can hold around 1.07, the harder it will be for the USD to strengthen further – Scotiabank
Share: EUR/USD drifts around 1.07. Economists at Scotiabanka nalyze the pair’s technical outlook. EUR’s undertone remains soft from a short-term technical point of view EUR’s undertone remains soft from a short-term technical point of view, … [Continue reading]
Forex Today: Aussie rallies on unexpected RBA hike, US Dollar edges lower
Share: Here is what you need to know on Tuesday, June 6: The Australian Dollar outperforms its rivals early Tuesday following the Reserve Bank of Australia's (RBA) unexpected decision to raise the policy rate by 25 basis points to 4.1%. The US … [Continue reading]
When is the RBA Interest Rate Decision and how could it affect AUD/USD?
Share: After surprising the markets with a 0.25% rate hike in the last monetary policy meeting, the Reserve Bank of Australia (RBA) is up for another Interest Rate Decision around 04:30 AM GMT on Tuesday. It’s worth noting the RBA is likely to throw … [Continue reading]
EUR/USD Price Analysis: Euro struggles to defend corrective bounce off 1.0700
Share: EUR/USD fades the week-start rebound amid sluggish oscillators. Failure to cross the key upside hurdles during previous week’s recovery lures Euro sellers. One-week-old ascending support line, 78.6% Fibonacci retracement limit short-term … [Continue reading]