The pound may not receive a lasting support from the Bank of England, even if it accelerates rate hikes, as investors override concerns about UK investment and growth, explain analysts at Rabobank. Key Quotes: “The BoE was quicker out of the blocks on policy tightening than many other G10 central banks this cycle. However, the … Read more
US: CB Consumer sentiment falls to a 16-month low. Stocks turned lower, main indexes fall by 1% on average. AUD/USD falls from six-day highs toward 0.6900. US stocks turned to the downside on Tuesday and boosted the US dollar. The AUD/USD dropped to 0.6909, hitting a fresh daily low. It remains under 0.6930 with a … Read more
The US dollar should remain strong against more currencies; However, the peak may be approaching earlier than initially expected, according to analysts at Wells Fargo. They believe medium-term dollar strength will be most pronounced against emerging market currencies. Key Quotes: “Our short to medium term view on the US dollar is unchanged, and we continue … Read more
GBP/USD witness some intraday selling on Tuesday and dropped to a three-day low. Brexit woes, less hawkish BoE expected continued acting as a headwind for sterling. Rising US bond yields revived the USD demand and contributed to the intraday selling. The GBP/USD pair retreated nearly 60 pips from the daily swing high touched during the … Read more
USD/CAD continued losing ground for the third straight day and dropped to over a two-week low. Bullish crude oil prices underpinned the loonie and exerted pressure amid subdued USD demand. Reduced bets for aggressive Fed rate hikes, a positive risk tone weighed on the safe-haven buck. The USD/CAD pair follow-through selling for the third successive … Read more
USD/TRY struggles for clear directions after bouncing off three-week low. Turkish Erdogan signals to review minimum wage to battle inflation. US dollar weakenss, risk-on mood could entertain traders ahead of key data/events. USD/TRY seesaws around 16.50 as traders seek more clues to extend the latest recovery of the Turkish lira (TRY). In doing so, the … Read more
NZD/USD struggled to gain any meaningful traction and oscillated in a familiar trading range. The cautious mood acted as a headwind for the risk-sensitive kiwi amid a modest USD uptick. Reduced bets for more aggressive Fed rate hikes might cap the USD and lend some support. The NZD/USD pair extended its sideways price moves for … Read more
In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.6930 vs. the last close of 6.6940. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as … Read more
Stocks in Wall Street rebound back to positive. US Dollar Index drops to weekly lows during the American session. USD/CHF heads for the lowest daily close in two months. The USD/CHF dropped to 0.9541 in American hours, hitting a fresh daily low. Earlier the pair peaked at 0.9620 before turning to the downside amid a … Read more
Euro gains as European yields move higher. US dollar weakens as markets avoid a correction after last week’s rally. EUR/USD rises back above the 20-day SMA. The EUR/USD rose further during the American session and climbed to 1.0614, reaching the highest level in two weeks. The euro pulled back under 1.0600. It is holding onto … Read more