Share: EUR/USD is set to finish the week with decent gains of 0.89%. US economic data was mixed, though it portrays a deceleration of the economy. ECB policymakers remain focused on tackling high inflation levels in the Eurozone. As the New York … [Continue reading]
Bitcoin price could crash to $23,000 if this pattern repeats
Share: Bitcoin price formed a bearish divergence over the last week akin to mid-February this year. With the immediate support standing at $27,000, a decline below this level could push BTC to $23,000. If the cryptocurrency manages to breach the … [Continue reading]
Dollar might benefit more from the easing of the stress than the Euro – Commerzbank
Share: Financial market stress, central bank decisions. Economists at Commerzbank expect the US Dollar to benefit more than the Euro from the easing of global financial market stress. What will happen to the Dollar now? “The more the financial … [Continue reading]
EUR/USD comes under heavy pressure and breaches 1.0800
Share: EUR/USD adds to Thursday’s losses below the 1.0800 mark. Flash Manufacturing PMIs in Germany and EMU disappoint in March. US Durable Goods Orders, advanced PMIs next on tap across the pond. Further selling pressure now drags EUR/USD back … [Continue reading]
USD/INR Price News: 82.30 acts as a barricade, focus in on US Durable Goods Orders
Share: USD/INR is oscillating in a 10-pip range as investors await US Durable Goods Orders and preliminary PMI data. Lack of follow-up buying in the S&P500 futures after a confident recovery move has stemmed clouds of uncertainty. The Indian … [Continue reading]
Gold Price Forecast: XAU/USD prods key hurdle as yields and US Dollar stabilize
Share: Gold price struggles to extend two-day rebound as ascending resistance line from August 2022 prods bulls. Fresh concerns about banking crisis, Federal Reserve moves allow United States Treasury bond yields, US Dollar to lick their wounds. US … [Continue reading]
EUR/USD Forecast: Failure at 1.0900 triggers correction
Share: US Dollar resurfaces as optimism fades in Wall Street. Eurozone PMIs on Friday could be critical for ECB hawkish expectations. EUR/USD ends five-day positive streak, retreating a hundred pips from the recent top. The EUR/USD … [Continue reading]
The FOMC will not pivot this year – Rabobank
Share: The FOMC unanimously decided to raise the target range for the federal funds rate by 25 bps to 4.75-5.00% from 4.50-4.75%. Economists at Rabobank remove the June rate hike of 25 bps from their forecasts. However, they still believe that the … [Continue reading]
BoE Preview: Closing the door on more hikes could drive the GBP lower – Scotiabank
Share: Sterling is trading modestly higher on the USD ahead of the BoE policy decision. Signals of a rate pause could draft the GBP down, economists at Scotiabank report. 25 bps hike expected “The BoE is widely expected to hike 25 bps, with a 1/4 … [Continue reading]
ECB’s Muller: The central bank should likely raise rates by a little
Share: European Central Bank (ECB) Governing Council member Madis Muller said on Thursday, “the ECB should likely raise rates by a little.” Additional quotes “Inflation is a bigger problem than the rise in borrowing costs.” “It is vital for us to … [Continue reading]