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]
NZD/USD Price Analysis: Bears take on bulls they break into the 0.6200s, with 0.6250 eyed
NZD/USDs move in on the Fibonacci scale . 0.6250 is eyed on a break of the resistance near 0.6225. NZD/USD month end could realise month-end rebalancing that implies NZD buying ahead of the Federal Reserve's Chairman, Jerome … [Continue reading]
New Zealand Building Permits s.a. (MoM) below forecasts (2.4%) in October: Actual (-10.7%)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
Canada: Q3 GDP shouldn’t change BoC trajectory – CIBC
Growth data released on Tuesday showed the Canadian economy expanded 0.1% in September on a monthly basis and at a 0.7% rate in the third quarter, surpassing expectations of a 0.4% rate. Analysts at CIBC, point out that while headline growth was … [Continue reading]