The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1991, as compared to the previous day’s fix of 7.1927 and 7.2305 Reuters estimates. Source link
The NZD/USD got rejected by the 20-day SMA by the fourth time this week. Technical indicators point to increasing selling pressure and decreasing buying pressure. A breakout from the 0.5940-0.6030 range will confirm a bearish outlook. In Friday’s session, the NZD/USD declined by 1.05% to 0.5960, continuing its downward trend as the pair got rejected by […]
NZD/JPY extends downtrend, breaking below key support. Technical indicators suggest further downside potential. The overall picture sees the pair stuck in a side-ways trading channel. In Friday’s session, the NZD/JPY declined by 1.20% to 91.00, continuing its bearish momentum. This break below the crucial 91.00 support level and the convergence of the 20 and 100-day […]
Atsushi Mimura, Japan’s Vice Finance Minister For International Affairs and top foreign exchange official, said on Thursday, he is “closely watching FX moves with a high sense of urgency.” He added that he is “ready to take appropriate actions for excess FX moves if necessary.” Market reaction USD/JPY eased off 154.72, its intraday high, losing 0.11% […]
Here is what you need to know on Tuesday, November 5: Financial markets remain on edge as the US presidential election takes center stage, with latest polls pointing to a tight race. On Tuesday, the US economic calendar will feature Goods Trade Balance data for September and the ISM Services PMI report for October. Later […]
The EUR/GBP currency pair continues to trade sideways between the 20 and 100-day SMA . RSI indicates recovering buying pressure and the MACD is green. Sellers breathe, after last Friday’s sharp losses. In Monday’s session, the EUR/GBP pair rose by 0.20% to 0.8395. While the pair remains in a sideways trend, the bullish pressure has shown […]
US Dollar finds supports after NFPs
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US Dollar retreated after posting solid gains in recent weeks. Nonfarm Payrolls increased by 12,000 in October, falling short of market expectations. Markets remain almost fully pricing in a 25 bps cut by the Fed next week. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, […]
AUD/USD declines due to modest US dollar gains after a packed economic calendar. Weak Chinese PMIs weigh on the Australian Dollar. RBA expected to maintain a hawkish stance, supporting AUD/USD, but concerns over China’s economy linger. The AUD/USD pair declined by 0.40% to 0.6560 in Friday’s session, pressured by a modest US dollar recovery and […]
NZD/JPY has been trading sideways recently, with mixed signals from technical indicators. The pair is currently supported at 90.70 and faces resistance at 91.90. There are some signs of bearish momentum mounting which could threaten the 20-day SMA. Friday’s trading saw the NZD/JPY pair continue its sideways movement of the past sessions. The pair exhibits […]
US positive labor market data was initially bearish on the USD, but the currency recovered losses. The ISM Manufacturing PMI came in weaker than expected, suggesting a contraction in the manufacturing sector. Canadian Dollar remains under pressure due to rate cut expectations. The USD/CAD currency pair saw a mild decline in Friday’s session, reaching a […]
ECB board member Isabel Schnabel argued that the European Central Bank does not need to lower interest rates to a level that would stimulate the economy, as she believes inflation is unlikely to fall below the bank’s 2% target. Key Quotes Disinflation remains on track, which allowed us to lower rates further in October, but […]
GBP/JPY pulls back from a multi-month peak, though the downside potential seems limited. The BoJ rate-hike uncertainty could undermine the JPY and lend some support to the cross. Traders look to the UK Autumn Budget for short-term impetus ahead of the BoJ on Thursday. The GBP/JPY cross edges lower during the Asian session on Wednesday […]
