Share: Loonie is tracking crude barrel prices, USD closely. Canada GDP is expected to see sluggish growth. Canadian inflation remains sticky, keeping the BoC on its toes. The Canadian Dollar (CAD) is seeing minor gains against the US Dollar (USD) … [Continue reading]
Silver Price Analysis: XAG/USD turns volatile near $22.50 ahead of Fed’s preferred inflation gauge
Share: Silver price delivers volatile moves near $22.50 as US Dollar attempts recovery. Weekly jobless claims increased by 2K to 204K this week but remained below expectations of 215K. Silver price forms a Head and Shoulder pattern whose breakdown … [Continue reading]
GBP/USD Forecast: Pound Sterling could face strong resistance at 1.2200
Share: GBP/USD recovered above 1.2150 in the European session on Thursday. 1.2200 aligns as a critical technical resistance for the pair. A correction in US T-bond yields could weigh on the USD. GBP/USD came within a touching distance of 1.2100 on … [Continue reading]
GBP/USD Price Analysis: Remains under selling pressure, the key contention is seen at 1.2100
Share: GBP/USD remains under selling pressure around 1.2133, bouncing off the lowest since March 17 of 1.2110. The pair holds below the 50- and 100-hour EMAs with the oversold RSI condition. The key resistance level will emerge at 1.2250; 1.2100 … [Continue reading]
New Zealand: ANZ Business Confidence improves to 1.5 vs. -3.7 prior
Share: The latest data released by the National Bank of New Zealand on Thursday showed that ANZ Business Confidence for September improved to 1.5 from a 3.7 drop in the previous month. Furthermore, the ANZ Activity Outlook rose 10.9 in September … [Continue reading]
EUR/USD Forecast: Time for a consolidation?
Share: The US Dollar Index reaches fresh monthly highs, nearing 107.00. USD rally remains supported by robust US data and Treasury yields. Important inflation data from the Eurozone is scheduled for Thursday. The EUR/USD has dropped for the … [Continue reading]
USD/JPY eyes 150.00 amid hawkish Fed and dovish BoJ, but intervention threats loom
Share: USD/JPY advances steadily towards 150.00, but intervention threats from Japan loom. Fed’s Kashkari remains hawkish, saying the risks of raising rates are tilted to the upside. The Bank of Japan’s July meeting minutes were mixed, though the … [Continue reading]
USD/JPY: High chance of intervention but only after a break above the 150 level – MUFG
Share: USD/JPY has broken above the 149 level. Economists at MUFG Bank analyze Yen’s outlook. Opposition to currency weakness remains firm We continue to see a high chance of intervention but only after a break above the 150 level when there is a … [Continue reading]
USD/JPY: Further upside could see 149.50 retested – UOB
Share: The continuation of the upside momentum could push USD/JPY to the 149.50 zone in the next few weeks, according to UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Key Quotes 24-hour view: We highlighted … [Continue reading]
AUD/NZD sticks to intraday gains above mid-1.0700s post-Australian CPI report
Share: AUD/NZD gains some positive traction and stages a modest recovery from a multi-week low. Spot prices move little following the release of the latest Australian consumer inflation figures. The recent breakdown and acceptance below the crucial … [Continue reading]