Share: EUR/GBP shows mild losses at 0.8630, after bottoming at a low of 0.8600. The daily chart delivers mixed signals with a bearish RSI and bullish MACD. Recently, the four-hour chart indicators gained ground, and bulls are in command. On … [Continue reading]
Mexican Peso skyrockets and prints a three-month high against the US Dollar
Share: Mexican Peso advances against the US Dollar, USD/MXN threatens 17.00 support area. Mexico’s economic docket ahead includes Retail Sales on Wednesday, followed by Thursday’s inflation data. US housing data was solid but failed to move the … [Continue reading]
EUR/GBP falls sharply to near 0.8600 ahead of UK CPI data
Share: EUR/GBP drops swiftly to near 0.8600 ahead of UK Inflation data. BoE Broadbent warned that higher wage growth could keep interest rates higher for a longer period. ECB Villeroy signalled that the rate-tightening regime has come to an end. … [Continue reading]
Pound Sterling remains on the back foot ahead of UK Inflation data
Share: Pound Sterling remains offered as investors turn cautious ahead of UK inflation data. The UK inflation is seen falling further due to BoE’s tight interest rate policy. BoE Broadbent turns spotlight on wage growth related inflation. The … [Continue reading]
EUR/JPY moves sideways near 156.70, BoJ keeps the policy rate unchanged
Share: EUR/JPY gained ground ahead of the economic data from the Eurozone. BoJ maintained its interest rate at -0.1% as widely expected. Geopolitical tension, as Houthi attacks on ships, could support the safe-haven JPY. Traders … [Continue reading]
AUD/JPY Price Analysis: Jumps ahead of BoJ’s decision, remains below 96.00
Share: AUD/JPY reclaimed the bottom of the Kumo, opening the door for a bullish reversal. Further upside is seen above the 96.00 mark, with key resistance at a confluence around 96.14. A drop below the Kumo, to pave the way for testing 93.00. The … [Continue reading]
Canadian Dollar eases off the throttle with Canadian CPI in the barrel for Tuesday
Share: Canadian Dollar pares back some of last Friday’s gains ahead of Canadian CPI on Tuesday. Monday’s economic calendar has a thin docket, but key data to wrap up 2023 due this week. CAD and crude Oil diverge as WTI recovers some ground on … [Continue reading]
Euro fluctuates without a clear direction in a calm trading session
Share: The Euro is trading sideways between 1.0900 and 1.0930 after Friday’s rejection at 1.1010. The weak German Business climate data confirms the region’s grim economic outlook. Investors are growing skeptical about the ECB’s ability … [Continue reading]
ECB’s Vasle: Market pricing for rate cuts is excessive
Share: Boštjan Vasle, Governor of the Bank of Slovenia and member of the Governing Council of the European Central Bank (ECB), said on Monday, “market pricing for both start of rate cuts and totality of cuts in 2024 is excessive.” … [Continue reading]
EUR/USD Price Analysis: Rebounds ahead of German data, holds above 1.0900
Share: EUR/USD recovers its recent losses on prevailing upward movement. Technical indicators suggest positive sentiment to revisit the psychological resistance at the 1.1000 level and the two-month high at 1.1017. The break below 1.0900 could push … [Continue reading]