EUR/USD remains sidelined after refreshing multi-day high, probes three-day uptrend. Hopes of slower Fed rate hike drowned the US Treasury bond yields, US Dollar. Mixed data from Eurozone, United States, failed to tame the bulls. ECB’s Lagarde should … [Continue reading]
EUR/USD Price Analysis: Bulls eye higher highs in the 1.05 area
EUR/USD H1 W-formation has seen a correction into the 50% mean reversion area. The bulls are in control on the front side of the trendline support. As per the prior analysis, EUR/USD Price Analysis: Bears move in and eye a break towards … [Continue reading]
USD Index Price Analysis: Extra losses could test 104.63
The index remains well on the defensive and breaks below 105.00. The continuation of the downside could drop to the August low. DXY extends the leg lower to the area below the 105.00 level for the first time since mid-August. The continuation of the … [Continue reading]
GBP/USD Price Analysis: Refreshes weekly high, eyes 200-day SMA near mid-1.2100s
GBP/USD climbs to a fresh weekly high on Thursday amid sustained USD selling bias. Dovish remarks by Fed Chair Powell, weaker US bond yields weigh on the greenback. The technical set-up favours bullish traders and supports prospects for further … [Continue reading]
GBP/USD Outlook: Bulls might target 1.2300 on sustained strength beyond 200-day SMA
GBP/USD steadily inches back closer to the weekly high amid sustained USD selling bias. The overnight dovish remarks by Fed Chair Powell continue to weigh on the greenback. Traders now look forward to the US Core PCE Price Index and ISM Manufacturing … [Continue reading]
EUR/GBP rebounds from 0.8620 ahead of German Retail Sales
EUR/GBP is sideways in a 40-pip range broadly ahead of German Retail Sales. A surprise decline in Eurozone inflation has weakened hawkish ECB bets. The sentiment of UK households was dampened as food inflation soared to a 45-month high. The EUR/GBP … [Continue reading]
Forex Today: US Dollar in sell-off mode post-Powell dovish words
What you need to take care of on Friday, December 1: The market sentiment fluctuated between optimism and fear, with the US Dollar starting the day on the back foot, recovering mid-way, and finally plummeting to close it in the red against its major … [Continue reading]
USD to weaken again when Fed cuts its key interest rate again next year – Commerzbank
The US Dollar was the clear winner in the G10 universe in 2022. But economists at Commerzbank expect the US currency to weaken in 2023 as the Federal Reserve cuts interest rates. Fed to lower its key rate again in the second half of 2023 “Our Fed … [Continue reading]
US October PCE inflation & ISM Manufacturing PMI Preview: Seen through Fed’s eyes
The US core Consumption Expenditures Price Index will likely signal easing pressures. The US ISM Manufacturing PMI is foreseen to fall into contraction territory. EUR/USD could revisit the 1.0500 price zone after the dust settles. December will kick … [Continue reading]
WTI juggles below $80.00 as investors shift their focus toward Fed commentary
Oil prices are displaying sideways auctions ahead of Fed Powell’s speech. The US API has reported a drawdown in oil inventories consecutively for the third time. Russia is not interested in supplying oil at a new price cap in any case. OPEC+ is … [Continue reading]