Share: Economists at MUFG Bank analyze EUR/USD outlook following Thursday’s ECB policy update. ECB signals it is close to the end of their hiking cycle We still believe current price action is a temporary setback for the pair rather than a … [Continue reading]
EUR/GBP drops swiftly as BoE to tighten policy further despite recession fears
Share: EUR/GBP resumes its downside journey as BoE prepares for 14th consecutive interest-rate hike. UK retail orders and factory activities are facing wrath due to higher cost pressures and an uncertain demand outlook. The ECB raised interest … [Continue reading]
GBP/JPY slides to the 177.20 area following BoJ decision
Share: GBP/JPY cross remains under selling pressure and slides to the 177.20 area after the BoJ rate decision. Bank of Japan (BoJ) kept its short-term interest rates at -0.1%, 10-year JGB yield target around 0%. BoJ is closely watching the … [Continue reading]
US Dollar Index: DXY pares the biggest daily jump in 19 weeks below 102.00, Fed inflation eyed
Share: US Dollar Index stabilizes at two-week high after jumping the most since March 15. Strong US Q2 GDP Annualized, Durable Goods Orders and housing data fuelled DXY before the latest consolidation. Cautious mood ahead of US Core PCE for June … [Continue reading]
GBPJPY collapses on a strong BoJ hint from Nikkei
Share: GBP/JPY sells-off on BoJ sentiment ahead of Friday's meeting. GBP/JPY drops into a potentially strong area of support in the 177.70/90s as per the hourly structure. Bears also eye the Point of Control near 177.00 and then a swing support … [Continue reading]
NZD/USD clears daily gains following US Q2 GDP data
Share: The NZD/USD peaked at a daily high of 0.6272 and then settled below 0.6200. US Q2 GDP, Durable Goods and Jobless Claims data came in strong, beating expectations. Investors digest Wednesday’s Fed decision and start to model their … [Continue reading]
Singapore: Positive surprise from Industrial Production – UOB
Share: Senior Economist at UOB Group Alvin Liew reviews the latest industrial production figures in Singapore. Key Takeaways Singapore’s Jun industrial production (IP) contracted by less than forecast while May’s contraction was also revised … [Continue reading]
Gold Futures: Still scope for extra gains
Share: Open interest in gold futures markets rose by just 140 contracts on Wednesday according to preliminary readings from CME Group. In the same line, volume went up by around 45.7K contracts, keeping the erratic performance well in place for the … [Continue reading]
USD/MXN Price Analysis: Mexican Peso grinds between 21-DMA and 10-DMA around 16.85
Share: USD/MXN licks its wounds within one-week-old trading range. MACD, RSI signals prod short-term Mexican Peso buyers but falling trend channel from mid-May keeps the bulls hopeful. Fortnight-old horizontal support acts as additional trading … [Continue reading]
Forex Today: Dollar weakens modestly after the Fed, focus turns to ECB and US data
Share: Market participants will continue to digest the FOMC meeting during the Asian session. Economic data due On Thursday includes the Export and Import Price Index in Australia. Later in the day, the ECB is expected to raise interest rates by … [Continue reading]