Share: “US President Joe Biden on Tuesday called Chinese President Xi Jinping a dictator, adding that Xi was very embarrassed when a Chinese balloon was blown off course over the US recently,” said Reuters early Wednesday in Asia. The news also … [Continue reading]
Forex Today: US Dollar bulls fight back
Share: What you need to know on Wednesday, June 21: The US Dollar kept grinding higher on Tuesday as the market mood soured on fears that Chinese economic growth has lost momentum. The focus now shifts to Federal Reserve Chairman Jerome Powell's … [Continue reading]
USD is on the cusp of turning lower – TDS
Share: The USD declined last week, adding to a string of losses seen over the month of June. Economists at TD Securities analyze the greenback outlook. USD will drop later in H2 We continue to think the USD is on the cusp of turning lower but have … [Continue reading]
Dollar will come lower in the second half, but timing is everything – ING
Share: Economists at ING see the US Dollar trapped between two stories. US Dollar is trapped between inverted curves and rallying equities There has been little follow-through from the US Dollar selling we saw late last week. … [Continue reading]
EUR/GBP extends bounce off yearly low to 0.8550 as ECB rate hike concerns challenge BoE hawks
Share: EUR/GBP picks up bids to refresh intraday high, stretches recovery from 10-month low. ECB policymakers suggest higher rates despite softer German PPI. UK’s two-year borrowing costs jump to 15-year high, suggesting more power for BoE hawks. … [Continue reading]
EUR/USD Price Analysis: Euro retreats from 1.0925 as Fed vs ECB battle heats up
Share: EUR/USD takes offers to refresh intraday low, down for the third consecutive day. ECB policymakers keep suggesting further rate hikes and so do Fed clues. RSI conditions suggest bottom-picking, multiple supports challenge Euro bears. Bulls … [Continue reading]
AUD/USD Price Analysis: Bears grind towards key 4-hour support
Share: AUD/USD bears are eyeing a trest of key trendline support. Bulls have started to throw in the towel. AUDUSD remains offered following Friday's sell-off and in what could be the start of a significant correction. The bulls have … [Continue reading]
USD/JPY hovers around cycle high on low volume session
Share: USD/JPY trades stable in the 141.80 area after hitting its highest point since November 2022. US Stock and bond markets are closed on Juneteenth celebrations. Eyes on economic data from the US, Chair Powell's testimony on Wednesday. … [Continue reading]
Euro remains on the defensive and supported near 1.0920
Share: Euro's daily decline seems to have met initial support near 1.0920. Stocks markets in Europe remain weak on concerns around China. ECB I. Schnabel argued that inflation outlook is tilted to the upside. US markets are closed due to the … [Continue reading]
Euro losses some traction and retreats from recent peaks around 1.0970
Share: Euro slips back to the 1.0930 region amidst tepid dollar’s recovery. Stocks markets in Europe kick in the week with small retracements. ECB speak will take centre stage later the session. US markets are closed due to the Juneteenth holiday. … [Continue reading]