USD/CHF justifies Thursday’s Doji to defend 0.9600 at three-week low

USD/CHF stays defensive after refreshing multi-day low, bullish candlestick formation teases corrective pullback. Risk-aversion, lack of data could underpin the recovery moves. Second-tier US statistics, qualitative catalysts to direct intraday traders. USD/CHF extends late Thursday’s rebound from a three-week low towards piercing the 0.9600 threshold, around 0.9610 during Friday’s initial Asian session. In doing so, … Read more

EUR/USD tumbles as seller’s mount, eyeing a break below 1.0500 after dismal US PMI

US S&P Global PMIs showed that the US economy is expanding at a slower pace. Worst than expected, Eurozone PMIs, tripped the EUR/USD towards daily lows below 1.0500. Fed’s Powell said he would be reluctant to cut rates when asked at the US House of Representatives. The EUR/USD slides for the first day in the … Read more

S&P 500 opens with gains and reclaims 3770 on Powell’s second day at the Congress

US stocks indices some ground after registering minimal losses on Wednesday. S&P Global PMIs indices missed expectations, dragging equities lower. The Nasdaq Composite leads the pack, followed by the S&P 500 and the Dow Jones. The greenback recovers some ground though US Treasury yields are falling as traders backpedaled against an aggressive Fed. US equities … Read more

S&P Global Services PMI falls to 51.6 in June vs. 53.5 expected

S&P Global Services PMI for the US fell sharply in June. Major equity indexes in the US trade modestly higher. Business activity in the US service sector expanded at a very weak pace in early June with the S&P Global Services PMI falling to 51.6 from 53.4 in May. This print missed the market expectation … Read more

AUDUSD extends losses towards key 0.6855 support amid cautious mood

AUDUSD returns to the red after the early recovery to near 0.6930. Recession fears revive the dollar’s safe-haven demand, as Powell disappoints. Daily technical setup risks a test of the critical support at 0.6855. AUDUSD is trading close to 0.6900, having failed to sustain the tipid bounce near the 0.6930 region. The US dollar is … Read more

USD/JPY juggles above 136.00 ahead of PMI figures, Japan Inflation in focus

USD/JPY is holding itself above 136.00 as investors are focusing on PMI figures. Costly oil and food prices contaminate Japan’s inflation figure near 3%. Fed Powell is expected to dictate a consecutive 75 bps interest rate hike in July. The USD/JPY pair is displaying back and forth moves in a narrow range of 136.10-136.30 in … Read more

XAU/USD sees downside below $1,830 ahead of Fed Powell

Gold price has plunged below the critical support of $1,836.00 firmly. Investors have shifted the spotlight on Fed Powell’s testimony. The market participants should brace for underperformance from the US PMI. Gold price (XAU/USD) has witnessed a steep fall after failing to sustain above the critical hurdle of $1,840.00 in the early European session. The … Read more

GBP/JPY lacks momentum strength around 165.00, UK PMIs, BOE policymakers eyed

GBP/JPY struggles for clear directions after the first weekly loss in five. Japan’s economic assessment, Kuroda’s comments fail to impress sellers amid in action at the bond markets. UK fundamentals keep bears hopeful amid fears of economic slowdown. BOE’s Haskel, Mann could be eyed for intraday directions, UK PMIs are the key. GBP/JPY remains directionless … Read more

EUR/USD climbs above 1.0520 as DXY weakens, focus shifts to PMI

EUR/USD has jumped above 1.0520 as weakness in the DXY has supported the risk-sensitive currencies. A bullish open drive session in the asset will keep the shared currency bulls in the dominant position. The US MI numbers are expected to display a vulnerable show. The EUR/USD pair is advancing swiftly higher in the Asian session … Read more