EUR/USD halted its weekly recovery, revisiting the mid-1.1200s on Thursday.The US Dollar regained buying interest and reversed part of its recent drop.US flash PMIs surprised to the upside in May. PMIs in Europe came in mixed.The Euro (EUR) lost … [Continue reading]
EUR/USD declines as US Dollar strengthens after strong US PMI data
EUR/USD slides to near 1.1300 as the flash Eurozone PMI data surprisingly contracted in May.US President Trump warns that Russia could avoid ending the war in Ukraine.ECB’s Nagel is hopeful of an EU-US trade deal.EUR/USD is down 0.35% to near 1.1290 … [Continue reading]
Current upward bias to remain intact above the 55-day EMA – UOB Group
Improving upward momentum indicates EUR/USD could maintain its upward bias; it is premature to expect a retest of the 1.1573 high, UOB Group's FX analyst Quek Ser Leang reports. EUR/USD is still trying to edge higher"Our previous Chart of the Day … [Continue reading]
Australian Dollar advances as US Dollar depreciates ahead of PMI data
The Australian Dollar strengthens as the US Dollar weakens on Thursday.Australia’s Manufacturing PMI remains steady at 51.7 in May, meanwhile, Services PMI declines to 50.5.Fed officials noted that a decline in consumer and corporate confidence is … [Continue reading]
USD/CAD extends the decline to near 1.3850 amid weaker US Dollar
USD/CAD trades in negative territory near 1.3855 in Thursday’s early Asian session. Worries about a ballooning US deficit weigh on the US Dollar. The advanced S&P Global Manufacturing and Services PMI reports will be closely watched … [Continue reading]
President Trump’s budget bill headed for vote in US Congress
The United States (US) House of Representatives is poised to begin casting votes on the Republican party's tax and budget bill that is front-loaded with many of President Donald Trump's wishlist items. President Trump has colloquially refered to the … [Continue reading]
GBP/USD soars to new yearly high as UK inflation surges, BoE rate cuts in doubt
UK CPI climbs to 3.6% YoY in April, well above BoE’s 2% inflation target.Core inflation accelerates to 3.8%, raising doubts over future rate cuts.US Dollar tumbles as G-7 stokes speculation of Washington favoring weaker Greenback.The Pound Sterling … [Continue reading]
Gold price thrives on geopolitical tensions and US fiscal woes
Gold price sees safe haven inflow on comments Israel considers striking Iran nuclear facilities. President Trump clashes with Republican members on his fiscal package plan through US Congress. Gold has broken out of its tight range and … [Continue reading]
Australian Dollar rises despite rising odds of further RBA rate cuts, focus on Fedspeak
The Australian Dollar strengthens as the US Dollar weakens amid concerns over the economic outlook and declining business sentiment.Federal Reserve officials highlighted a drop in both business and consumer confidence, partly blaming shifts in US … [Continue reading]
UK CPI expected to rise in April, challenging BoE’s easing path
The United Kingdom’s Office for National Statistics will publish the April CPI data on Wednesday.Inflation, as measured by the CPI, is forecast to be much higher than in March.The GBP/USD pair trades near its 2025 high and aims to advance beyond … [Continue reading]