A lurking rising wedge could open the door towards 132.00

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

To re-test the double top neckline around 0.9540

The USD/CHF remains negative in the week, losing 1.16%. A positive market mood deterred USD/CHF sellers from confirming the double top chart pattern. USD/CHF Price Analysis: Double top remains in play, but USD/CHF require to hold spot prices below 0.9600. The USD/CHF slumps for the fifth consecutive day, though bounced off weekly lows reached during … Read more

Stays below 0.8600 despite an upbeat mood and a weaker GBP

The shared currency finished the week with decent gains of 0.21%. Sentiment remains optimism, despite recession fears threatening. EUR/GBP Price Analysis: Remains upwards but struggling at 0.8600 might open the door for selling pressure. The EUR/GBP accelerates for the fourth day out of five in the week, set to finish with decent gains of 0.21%. … Read more

German IFO Business Climate Index drops to 92.3 in June vs. 92.9 expected

German IFO Business Climate Index came in at 92.3 in June. IFO Current Economic Assessment eased to 99.3 this month. June German IFO Expectations Index arrived at 85.8 The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month’s 93.0 and the consensus estimates of 92.9. Meanwhile, the Current Economic … Read more

EUR/USD picks up bids towards 1.0550 ahead of German IFO data, recession in focus

EUR/USD adds to the first weekly gains in four amid quiet session. Recession fears keep markets dicey, US dollar fails to track firmer yields. Hawkish ECBSpeak, repetitive comments from Fed’s Powell favor buyers. German IFO sentiment figures for June, and second-tier US data may entertain traders. EUR/USD renews intraday high near 1.0530 as it eyes … Read more

Remains firm at around 165.40, in a mixed market mood

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

Falls towards 0.9600 as sellers get ready to test double top’s neckline at 0.9540s

The Swiss franc extends its weekly gains to almost 1%, as shown by the USD/CHF falling from weekly highs above 0.9700. Through the New York sesión, risk aversion pushed equities into negative territory and gave a fresh impulse to safe-haven assets, boosting the CHF. USD/CHF Price Analysis: The formation of a double tops looms and … Read more

S&P 500 rises and reclaims the 3,700 threshold after a holiday in the US

US stocks jumped following a US bank holiday, up between 1.78% and 3.07%. The Nasdaq Composite leads the pack, followed by the S&P 500 and the Dow Jones. US Treasury yields edge up while the US Dollar Index drops. US stocks are opening with hefty gains, following a dismal week, which dragged the SP 500 … Read more

AUD/USD plunges below 0.7000 on a buoyant greenback

The Australian dollar prepares to finish the week with losses of almost 1.60%. Fluctuating sentiment in the FX space boosts the USD and weighs on the AUD. st. Louis Fed President Bullard: Achieving a soft landing is feasible. AUD/USD plummets from weekly highs reached on Thursday around 0.7069, down below the 0.7000 mark, after Wednesday’s … Read more