The GBP/USD experienced bearish pressure and dropped to the 1.2100 area before a modest recovery during the European session. Retail sales in the United Kingdom for September decreased by 0.9% on a monthly basis, which was worse than market expectations of a 0.1% decrease, negatively impacting the British pound. Meanwhile, the Governor of the Bank of England,...
In this update on GBP/USD, the currency pair initially dropped to the 1.2100 level due to disappointing economic data from the UK. However, it managed to recover to around 1.2150. Market sentiment remains negative, with investors focused on news related to the conflict between Israel and Hamas. The Relative Strength Index (RSI) indicator on the 4-hour chart has...
The EUR/USD is trading below 1.0550 in the early European session on Thursday, primarily due to ongoing tensions in the Middle East, which are bolstering the safe-haven US Dollar. Investors are cautious ahead of a speech by Fed Chair Powell. The EUR/USD briefly touched 1.0595 but then retreated, forming a short-term double-top pattern. A drop below 1.0560...
The USD/JPY exchange rate is holding around 149.75 during the early Asian trading hours, supported by an increase in US Treasury bond yields. Investors are on alert for the possibility of intervention by Japanese authorities near the 150.00 level. Despite a brief dip towards 148.80, the pair quickly recovered around 149.50, anticipating the upcoming inflation...
During the first half of Tuesday, the EUR/USD exchange rate maintained stability around 1.0550, showing a narrow range. Buyers continued to exert upward pressure, capitalizing on the persistent weakness of the US dollar. Additionally, positive data from Germany supported the euro, with the German ZEW Survey for October indicating an improvement in Economic...
The USD/JPY currency pair is trading sideways after a two-day winning streak. Despite positive PMI data, the US dollar is moving lower towards the 105.50 level. Bank of Japan (BoJ) policymaker Noguchi is not optimistic about wage growth acceleration. USD/JPY has interrupted its winning streak, currently trading lower around 149.00 during the Asian session....
Gold hit a two-week peak during the Asian session, indicating a continued and robust recovery from a recent low near $1,810. Geopolitical tensions in the Middle East strengthened gold's position as a safe-haven asset. The XAU/USD pair remains close to its daily peak, displaying persistent bullish momentum. However, it is trading below the bearish 20-day Simple...
The USD/JPY exchange rate experienced a rebound, trading higher around 149.00 during the European session due to a positive risk sentiment amidst the Middle-East conflict. The Japanese Yen did not respond to the Bank of Japan's consideration of revising core inflation estimates upward. Federal Reserve's remarks led investors to downplay the possibility of further...
The EUR/USD exchange rate is above 1.0550, supported by a slight decline in the US dollar and decreasing US bond yields, while a positive risk tone weakens the dollar. Traders are awaiting key data for the week, including FOMC minutes and the US Consumer Price Index. The EUR/USD is below the 20-day Simple Moving Average (SMA) and within a downtrend channel, but in...
GBP/USD continued its decline following the bearish opening, dropping below 1.2200 on Monday. This was attributed to the strengthening of the US dollar amid escalating geopolitical tensions in the Middle East and speculations of a more restrictive Fed monetary policy. The Relative Strength Index (RSI) on the 4-hour chart remained above the 50 level despite the...
During the first Asian session on Monday, the exchange rate between the US dollar (USD) and the Canadian dollar (CAD) continued to decline for the third consecutive session, settling around 1.3650. This drop is primarily influenced by a significant increase in oil prices, presumably linked to the ongoing military conflict between Palestine and Israel. This...
The price of gold has increased to the $1,830 area, with the yield of the 10-year US Treasury benchmark falling below 4.8% after initially rising to 4.9% in response to the US September jobs report, giving a boost to XAU/USD. The next directional move of the gold price will depend on the outcome of the US NFP report. From a technical perspective, the daily setup...
EUR/USD reached the weekly high at 1.0600 and consolidated around 1.0580, marking a slight weekly increase. Despite positive data on U.S. non-farm payrolls for September, the U.S. dollar surprisingly weakened on Friday. The pair stabilized above the upper limit of the descending regression channel, with an RSI of 60 on the 4-hour chart, indicating a short-term...
Gold price is in a slightly bearish phase, staying below $1,820 due to the impact of the yield of the 10-year US Treasury bond, which is above 4.7%. This situation makes it difficult for XAU/USD to undertake a significant recovery. Technical analysis on the daily chart indicates a bearish trend for XAU/USD, with indicators showing an abundance of sell signals in...
The GBP/USD fell more than 7.5% from its high in Q3 to its lowest point last week. At the start of Q4, it has enjoyed a bit of a relief rally, as US bond yields, crude oil and the dollar have all taken a back seat, ahead of Friday’s jobs report. While we can’t rule out the possibility of a sharper oversold bounce in the coming weeks, we think that the upside will...
During Thursday's Asian session, EUR/USD continued the positive trend initiated in the previous session, hovering around 1.0520. The movement of this pair was influenced by market caution regarding the trajectory of interest rates by the US Federal Reserve (Fed). Despite the Euro experiencing a rebound, it is not out of danger yet, as the correction could continue...
The USD/JPY pair stands near 149.20, reflecting recent losses and concerns about possible interventions in the market. The 10-year Japanese Government Bond (JGB) yield has surged to 0.8%, a level not seen since 2013. In the US, JOLTS Job Openings exceeded expectations, suggesting a positive employment scenario. Key upcoming events include US ADP Employment Change...
GBP/USD showed a strong daily rebound, surpassing the level of 1.2150 on Wednesday. The US Dollar is under bearish pressure after ADP reported a modest increase in private sector employment in September. Currently, the pair is around 1.2130, close to the upper limit of a descending regression channel. Buyers could remain interested if the level of 1.2130 confirms...