EUR/JPY weakens to near 158.80 in Wednesday’s early European session, down 0.06% on the day. The negative outlook of the cross prevails, with the bearish RSI indicator. The immediate resistance level emerges at 161.80; the first support … [Continue reading]
Japanese Yen edges lower due to rising confusion over BoJ policy outlook
The Japanese Yen loses ground as the BoJ’s Summary of Opinions signals its intention to maintain an accommodative monetary stance. The JPY struggled as Japan's upcoming PM Ishiba stated the need to maintain low rates to help economic recovery. The US … [Continue reading]
Dow Jones Industrial Average shudders as Middle East escalation continues
The Dow Jones shed over 300 points on Tuesday, with geopolitical tensions on the rise. Equities are slowly bouncing back but remain mired in the low side. Meager US ISM data did little to provide support for investors. The Dow Jones Industrial … [Continue reading]
Crypto Today: Bitcoin, Ethereum slide lower alongside declining inflows to exchanges
Bitcoin and Ethereum correct on Tuesday, dropping more than 2% each. Data from OKX and Binance show a slowdown in retail activity, lower than past bull markets and even the 2019-2020 bear market. XRP dips under $0.6200 support, trades at $0.6111. … [Continue reading]
GBP/USD: GBP is stalled in low 1.34s – Scotiabank
The Pound Sterling (GBP) is trading lower on the session, tracking the broader tone of the US Dollar (USD), Scotiabank’s Chief FX Strategist Shaun Osborne notes. Rrisk of easing further on the break of 1.3313 support “UK Manufacturing PMI was left … [Continue reading]
EUR/USD Forecast: Euro loses bullish momentum ahead of US data
EUR/USD retreated below 1.1150 after failing to break above 1.1200. The near-term technical outlook points to a loss of bullish momentum. Macroeconomic data releases from the US could drive the pair's action later in the day. EUR/USD started the new … [Continue reading]
AUD/JPY sticks to modest gains, remains below 200-day SMA hurdle near 100.00 mark
AUD/JPY draws support from a combination of factors and moves back closer to a two-month top. Ishiba's comments about BoJ rate hikes overshadow upbeat domestic data and undermine the JPY. The stronger Australian Retail Sales data boosts the Aussie … [Continue reading]
USD/CAD trades stronger above 1.3500 as Fed’s Powell signals a slow approach to rate cuts
USD/CAD trades firmer around 1.3525 in Tuesday’s early Asian session. Fed’s Powell said the central bank will lower interest rates “over time.” The Canadian economy expanded by 0.2% MoM in July, faster than expected; advance estimate indicated … [Continue reading]
Dow Jones Industrial Average eases lower on soft Monday
The Dow Jones huddled close to 42,000 to kick off the new week. Investors are awaiting key US labor data due on Friday. Despite quiet Monday, the Dow Jones is coming off a winning month. The Dow Jones Industrial Average (DJIA) was hamstrung at … [Continue reading]
Bitcoin corrects lower after facing resistance barrier
Bitcoin tumbles below $64,000, erasing most of the prior week’s gains. Coinbase’s weekly report anticipates a constructive Q4 for Bitcoin due to US interest-rate cuts and China’s supporting economic policy. Historically, October has been strong … [Continue reading]