USD/TRY trades close to 2022 highs near 17.40. Turkey Capacity Utilization dropped to 77.6%. Türkiye Manufacturing Confidence deteriorate in June. The Turkish currency extends its march south for yet another session and keeps USD/TRY bid near the area of YTD peaks above 17.30 on Friday. USD/TRY now focuses on inflation USD/TRY navigates the third consecutive … Read more
EUR/JPY rebounds after two consecutive daily retracements. Next on the upside comes the 2022 peak past 144.00. EUR/JPY regains the 142.00 mark and beyond and at the same time leaves behind two straight sessions with losses on Friday. The bullish bias in the cross remains well and sound and the continuation of the recovery could … Read more
EUR/GBP pares recent losses while bouncing off key Fibonacci retracement level. 200-HMA, previous support challenge buyers, bears eye fresh weekly low. Downbeat RSI, sustained break of short-term triangle keep sellers hopeful. EUR/GBP picks up bids to 0.8590 while consolidating the biggest daily loss in a week during Friday’s Asian session. In doing so, the cross-currency … Read more
The GBP/JPY stays positive in the week, gaining 0.42%. A fragile sentiment triggered by recession fears might send the pair tumbling and erase the pound’s weekly gains. GBP/JPY Price Analysis: Upward biased in the medium term, but the short term is consolidating and might fall if sellers step in and could dive towards 164.00. The … Read more
Further downside could prompt NZD/USD to breach the 0.6200 level in the next weeks, comment FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Key Quotes 24-hour view: “While yesterday we expected NZD to weaken, we were of the view that ‘any weakness is unlikely to break the major support at 0.6265’. … Read more
The common currency stages a recovery and gains vs. the pound, up by some 0.41% in the week. The market mood remains fragile, though choppy trading is expected in the pair. EUR/GBP Price Analysis: Per the daily and 4-hour chart, the pair is upward biased, and a re-test of the YTD highs is on the … Read more
Further range bound trading within 6.6600-6.7400 is predicted in USD/CNH in the next weeks, commented FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Key Quotes 24-hour view: “Yesterday, we held the view that ‘there is scope for USD to weaken but a sustained decline below 6.6700 is unlikely’. USD dropped to … Read more
GBP/JPY prints three-day uptrend despite the latest pullback from intraday high. Immediate support line, bullish MACD signals and BOJ’s inaction together help buyers. Sellers have a bumpy road to travel before taking control. GBP/JPY reverses the knee-jerk reaction to the Bank of Japan’s (BOJ) monetary policy meeting while staying firmer around 164.60 during Friday’s Asian … Read more
The euro recovered some ground vs. the Japanese yen amidst the scenario of Japanese authorities intervening in the FX markets. EUR/JPY Price Analysis: The bounce at weekly lows might open the door for a re-test of 142.00. The EUR/JPY is paring some of Thursday’s losses as the Asian session begins and is posting decent gains … Read more
The GBP/JPY trims weekly losses though prevails down, losing 1.34%. The cross-currency is trading near the top of a bearish flag. GBP/JPY upward break above the bearish flag might send the cross towards 164.00. The GBP/JPY is recovering some ground, following a 700 pip drop from YTD highs around 168.70s towards 161.30s, courtesy of constant … Read more