Share: US Dollar struggles to find demand. Economists at MUFG Bank expect the greenback to remain under pressure if the Federal Reserve hikes by 25 basis points next week. A 25 bps hike next week is priced at about an 80% probability “Essentially, … [Continue reading]
EUR/USD Price Analysis: Northward road looks bumpy despite bulls holding above 1.0600
Share: EUR/USD refresh intraday high during two-day uptrend, consolidates Wednesday’s big losses. Sustained break of 200-HMA, two-day-old bullish channel keeps buyers hopeful. Nearly overbought RSI conditions, sluggish MACD signals prod … [Continue reading]
EUR/GBP steadies around 0.8760 level amid uncertainECB’s rate hike trajectory
Share: EUR/GBP trades listlessly on ECB’s blurred rate hike path amid global banking turmoil. Liquidity crisis and policy uncertainty left Euro with mixed reactions. Market awaits UK CPI and BoE Interest Rate decision next week. EUR/GBP is … [Continue reading]
Forex Today: Unexpected consolidation, DXY drops as risk sentiment improves
Share: Here is what you need to know on Friday, March 17: The stock market stole volatility on Thursday. Wall Street indexes opened in the red to finish in the green with a gain of more than 1%. The Nasdaq led with a rally of 2.48%. Systemic risk … [Continue reading]
ECB agreed to go ahead with 50 bps hike after SNB threw lifeline to Credit Suisse – Reuters
Share: Citing three sources familiar with the matter, Reuters reported on Thursday that European Central Bank (ECB) policymakers agreed to go ahead with a 50 basis points increase in key rates after the Swiss National Bank (SNB) "threw a lifeline" … [Continue reading]
USD Index Price Analysis: Decent contention emerges at 103.50
Share: DXY surrenders part of Wednesday’s sharp uptick north of 105.00. The March low near 103.50 should hold the downside so far. DXY gives away some of Wednesday’s sharp gains and retreats to the 104.50 region on Thursday. If bulls regain the … [Continue reading]
USD/CNY: Yuan will continue to appreciate this year, but at a mild pace – Commerzbank
Share: Economists at Commerzbank forecast CNY to appreciate mildly this year due to the tailwinds from Covid reopening. Risks to growth and CNY remain significant “Due to the Covid reopening and in anticipation of a weaker dollar later this year, we … [Continue reading]
AUD/USD Price Analysis: Any recovery remains elusive below 0.6705
Share: AUD/USD pares the biggest daily loss in a week amid sluggish markets, retreats from daily high of late. Bearish MACD signals, steady RSI suggests a continuation of downtrend. Six-week-old descending resistance line, 100-SMA restrict … [Continue reading]
EUR/USD eyes 1.0600 as ECB sets for a bigger rate hike despite Credit Suisse fiasco
Share: EUR/USD is aiming to recapture the 1.0600 resistance as hawkish ECB bets are solid despite brewing Eurozone banking system troubles. Despite the turmoil in the banking sector, ECB policymakers expect inflation to remain too high in the … [Continue reading]
Uniswap price sinks by 8% despite DEX’s launch on Binance BNB Chain
Share: Uniswap price corrects lower following the 15% rise in price over the last four days. Uniswap launches on the BNB Chain, ensuing support from 55 million UNI holders. The deployment will enable Uniswap users to leverage BNB’s lower … [Continue reading]