The recent pullback in the USD should not be seen as the beginning of a trend reversal. In the view of economists at UBS, EUR/USD is set to plummet to the low 0.90s before bouncing to 0.96 at the end of March 2023. Dollar strength to … [Continue reading]
Two reasons why Terra’s Luna Classic price could rally 17% soon
Luna Classic price is at a pivotal point and could trigger a 17% run-up to $0.000260. Investors can expect the $0.000165 to $0.000234 demand zone to play a critical role in pushing LUNC higher. A twelve-hour candlestick close below $0.000160 will … [Continue reading]
USD/JPY slides below 148.00 on BOJ minutes with eyes on yields, Fed’s ‘dot plot’
USD/JPY takes offers to extend the previous day’s pullback from a one-week high. BOJ Minutes defend easy money policy despite raising concerns on weak yen. Yields struggle as firmer US data, hawkish Fed bets jostle with hopes of Fed’s slower rate … [Continue reading]
GBP/USD, supported above 1.1450 after rejection at 1.1565
Pound's reversal from the 1.1565 high finds support at 1.1450. Better than expected US data has boosted the USD. GBP/USD maintains its positive bias while above 1.1440 – UOB. Sterling’s reversal from session highs at 1.1565 witnessed on Tuesday’s … [Continue reading]
EUR/USD trims gains and breaks below 0.9900 post-US ISM
EUR/USD gives away some gains and breaches 0.9900. The dollar rebounds following positive results from the docket. ISM Manufacturing surprised to the upside in October at 50.2. EUR/USD abandons the area of daily highs around 0.9950 and makes an … [Continue reading]
Will XRP price rally as Coinbase throws weight behind Ripple in battle against SEC?
Coinbase filed a request to support Ripple in its lawsuit against the US Securities & Exchange Commission. Coinbase’s chief legal officer tweeted that the exchange extended a plea to Judge Torres to file for an amicus curiae … [Continue reading]
AUD/USD Outlook: Upside potential seems limited ahead of the crucial Fed decision
AUD/USD gains some positive traction on Tuesday and snaps a three-day losing streak. A positive risk tone undermines the safe-haven USD and benefits the risk-sensitive aussie. A combination of factors might hold back bulls from placing fresh bets … [Continue reading]
USD/CNH rebounds from 7.3300 despite an upbeat Caixin Manufacturing PMI
USD/CNH has witnessed a V-shape reversal at around 7.3300. Caixin Manufacturing PMI has landed higher at 49.2 vs. the expectations of 49.0. The Fed is set to hike rates by 75 bps as inflationary pressures have not slowed down yet. The USD/CNH pair … [Continue reading]
EUR/JPY turns lower and returns below 147.00
The euro fails at 147.80 and retreats below 147.00. A sourer market mood underpins a mild JPY recovery. EUR/JPY is trapped on a bullish triangle pattern. The euro was capped at 147.80 and pulled down against the Japanese yen on Monday, retracing … [Continue reading]
Gold Price Forecast: XAUUSD heading towards $1,600 amid risk-off flows
XAUUSD Current price: $1,638.11 Central banks' monetary policy decisions keep investors on the sidelines. Tepid Chinese data undermined demand for high-yielding assets and backed the dollar. XAUUSD aims to extend its slump towards the year low at … [Continue reading]