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 retreats further from 24-year peak, below 136.00 mark after Powell’s remarks

USD/JPY corrected from a fresh 24-year high and was pressured by a combination of factors. Speculations that authorities could intervene, the risk-off mood boosted the safe-haven JPY. The lack of hawkish signals from Powell weighed on the USD and added to the selling bias. The USD/JPY pair witness an intraday retracement slide from a 24-year … Read more

GBP/USD jumps to multi-day high, eyes 1.2300 mark amid fresh USD selling

GBP/USD caught aggressive bids and rallied to a three-day high in the last hour. Softer US macro data weighed on the USD and prompted a short-covering move. Elevated US bond yields, the risk-off mood to limit the USD losses and cap the pair. The GBP/USD pair witnessed a short-covering bounce on Thursday and rallied nearly … Read more

Bears looking to seize control below 200-hour SMA, 23.6% Fibo.

USD/JPY came under some fresh selling pressure on Thursday and dived to over a one-week low. The downward trajectory confirmed a bearish break below the ascending trend-channel support. A subsequent fall below the 200-hour SMA might have already set the stage for additional losses. The USD/JPY pair witness aggressive selling near the 134.65-134.70 region on … Read more

Focus is on bringing down costs and Federal deficit – CNN

“US economy is in a transition,” said White House (WH) Economic Adviser Brian Deese during an interview with CNN on Tuesday. The policymaker also signaled the WH’s aim to ease the price pressure and the Federal shortage during the interview. Market implications Such comments from the key diplomat ahead of the Federal Open Market Committee … Read more

USD/MXN jumps to 20.50 as Wall Street plunges

Risk aversion intensifies across financial markets. Treasuries also decline, US yields at multi-year highs. USD/MXN break key resistance levels, tests 20.45/50 area. The USD/MXN is rising sharply on Monday as global markets tumble. The pair jumped from below 20.00 to 20.50, hitting the highest level since May 2. It is having the biggest daily gain … Read more

NZD/USD slips below 0.6300 mark, seems vulnerable amid stronger USD/risk-off

NZD/USD witness some follow-through selling on Monday and dropped to a near one-month low. Aggressive Fed rate hike bets, the risk-off mood benefitted the safe-haven USD and exerted pressure. Acceptance below the 0.6300-0.6290 area would make the pair vulnerable to challenging the YTD low. The NZD/USD pair prolonged its recent sharp pullback from the 0.6575 … Read more

GBP/USD plummets to fresh three-week low, below 1.2400 amid US CPI-inspired USD strength

GBP/USD witness heavy selling for the third successive day amid broad-based USD strength. Stronger US CPI print for May reaffirmed hawkish Fed expectations and boosted the greenback. The risk-off impulse further underpinned the safe-haven buck and exerted pressure on the pair. The GBP/USD pair extended this week’s rejection slide from the 1.2600 neighborhood and some … Read more