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]
USD/JPY hangs near one-month low, heavily offered below 133.00 amid Credit Suisse crisis
Share: USD/JPY witnessed an intraday turnaround from a fresh weekly high touched earlier this Wednesday. Credit Suisse crisis triggers a massive sell-off in equities and boosts demand for the safe-haven JPY. A blowout intraday USD rally lends some … [Continue reading]
GBP/USD Forecast: Pound Sterling defines trading range before next breakout
Share: GBP/USD has extended its sideways grind below 1.2200 on Wednesday. UK Chancellor Hunt will unveil budget in Parliament around 1230 GMT. The near-term technical outlook suggests that bullish bias stays intact. Following the three-day rally, … [Continue reading]
AUD/USD Price Analysis: Challenges 0.6700 as risk-on mood solidifies
Share: AUD/USD is facing barricades near 0.6700 as USD Index has attempted a recovery. Sheer volatility is expected from the USD Index as investors are awaiting the US Retail Sales and PPI data. The Australian Dollar is likely to dance to the tunes … [Continue reading]
Gold Price Forecast: XAU/USD eases amid firmer yields, United States, China statistics eyed
Share: Gold price remains depressed after snapping three-day uptrend the previous day. Recovery in United States yields, US Dollar weighs on XAU/USD price. Mixed signals from US Consumer Price Index failed to entertain Gold traders. US Retail … [Continue reading]