The Australian Dollar rises as the RBA intends to maintain a restrictive monetary policy. The RBA Meeting Minutes indicated that the board remains vigilant about the potential for further inflation. A Reuters poll indicated that nearly 90% of economists anticipate a 25bps cut in December. The Australian Dollar (AUD) retraces its recent losses on Thursday, […]
EUR/USD maintains its position as the US Dollar continues its downward correction. The US Dollar’s downside appears restrained due to dampened odds of an imminent Fed rate cut. ECB President Lagarde stated that Europe should pool its resources in areas such as defense and climate. EUR/USD remains steady with a positive bias, hovering around 1.0600 […]
The USD/CAD pair may approach the upper boundary of the ascending channel at the 1.4080 level. Traders may anticipate a potential downward correction if the 14-day RSI surpasses the 70 mark. The immediate support appears at the nine-day EMA at 1.3943 level followed by the 14-day EMA at the 1.3917 level. The USD/CAD pair gains […]
USD/CAD extends the rally to around 1.4000 in Thursday’s early Asian session. US CPI matched estimates in October. The expectation of a more aggressive rate cut from the BoC than the Fed, lower crude oil prices weigh on the Loonie. The USD/CAD pair gains momentum to near 1.4000, the highest level since 2020 during the […]
USD/CAD strengthens as the US Dollar appreciates due to optimism surrounding the Trump trades. The implementation of US President-elect Donald Trump’s proposed fiscal policies could delay further rate cuts by the Fed. The commodity-linked CAD weakens as Oil prices decline following OPEC’s lowered forecast for global Oil demand growth in 2024. USD/CAD moves upwards for […]
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/USD softens to around 0.6020 in Friday’s early Asian session. The 25 basis points (bps) rate cut by the Fed on Thursday was widely expected. Donald Trump’s proposals to raise tariffs could drag the Kiwi lower against the USD. The NZD/USD pair trades with a mild negative bias near 0.6020 during the early Asian session […]
NZD/USD falls as US Dollar receives support from Trump trade optimism. Exit polls indicate growing support for former President Trump’s bid to become the 47th President of the United States. New Zealand’s Unemployment Rate Q3 increased to 4.8% from 4.6% in the second quarter. NZD/USD depreciates by more than 1% as the US Dollar (USD) […]
USD/CAD edges lower to around 1.3825 in Wednesday’s early Asian session. Election-related uncertainty weighs on the USD. Higher crude oil prices might support the Loonie for the time being. The USD/CAD pair weakens to near 1.3825 during the early Asian session on Wednesday. The US Dollar (USD) remains under some selling pressure amidst heightened expectations […]
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 […]
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 […]
NZD/USD gains ground to around 0.5980 in Thursday’s Asian session. ANZ Business Confidence rose to 65.7 in October vs. 60.9 prior. Investors await the US PCE inflation data on Thursday. The NZD/USD pair recovers some lost ground to near 0.5980 on Thursday during the Asian trading hours. The upbeat New Zealand business confidence and Chinese Manufacturing […]
