In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, EUR/USD is still seen within the 1.0460-1.0630 range in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘upward momentum has not improved by much and EUR is unlikely to advance further’ and we expected EUR to … Read more
The USD/JPY extends its weekly gains to 0.74% on Tuesday. Falling US Treasury yields capped any U¨SD/JPY’s attempts towards the YTD highs near 136.70s. A rising wedge in the USD/JPY daily chart looms; if it plays out, it will send the pair tumbling towards 132.00. The USD/JPY extends its string of days, advancing to three … Read more
The New Zealand dollar tumbles courtesy of a negative market mood and a bid US dollar. US June’s CB Consumer Confidence dipped to a 10-year low on US citizens’ concerns about high inflation and slower growth. The US Dollar Index is back above the 104,000 thresholds, courtesy of quarter and month-end flows. The NZD/USD ticks … Read more
USD/CHF bounces off near-daily lows and stays above the 50% Fibonacci retracement in the H1 chart. Disappointing US economic data sparks a counter-cyclical move with the US dollar rising instead of falling. The USD/CHF daily chart formed a double top that is in play, but USD/CHF sellers’ failures to breach 0.9520, might open the door … 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
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
The lack of a fresh catalyst kept the pound within familiar ranges. A mixed market mood, spurred by higher global bond yields, put a lid on GBP/USD gains. GBP/USD Price Forecast: Remains tilted to the downside, but a test towards 1.2300 is on the cards. The British pound remains to trade in a narrow range … 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
The AUD/USD reports minimal gains of 0.03% on Monday. Higher global bond yields shifted Wall Street sentiment mixed, a headwind for the AUD. AUD/USD Price Forecast: Range-bound but skewed to the downside. The AUD/USD seesaws from daily highs around 0.6958 printed during the Asian session towards daily lows near 0.6910, in a narrow trading range … Read more
Here is what you need to know on Monday, June 27: The US Dollar Index stays relatively quiet near 104.00 early Monday after having closed the previous week modestly lower. US stock index futures trade flat on the day as focus shifts to May Durable Goods Orders data. Pending Home Sales and the Dallas Fed … Read more