NZD/USD falls 0.84% on Friday to trade at 0.6170. The RSI and MACD indicators align with the bearish outlook, signaling negative momentum. The 20-day SMA presents a strong barrier against the sellers. The NZD/USD pair has been trading lacklusterly within a narrow range, but Friday’s sharp decline has shifted the technical outlook to bearish, at […]
GBP/USD remains upward biased but struggles to clear key resistance at 1.3200, with YTD high of 1.3266 looming. A pullback below 1.3150 could see the pair test support at 1.3087, with further downside to 1.3044 and the 50-DMA at 1.2925. Traders’ rate cut expectations fluctuate, with a 43% chance for a 50-bps cut and 57% […]
The Japanese Yen edges higher following the Jibun Bank Services PMI on Wednesday. Japan’s Yoshimasa Hayashi monitors domestic and international market developments with urgency. The US Dollar holds ground as traders adopt caution ahead of US employment data. The Japanese Yen (JPY) continues to strengthen against the US Dollar (USD) following the release of the […]
The Japanese Yen edges higher as the government will allocate ¥989 billion to fund energy subsidies. The JPY faced challenges as weak Japanese manufacturing data fueled speculation that the BoJ might postpone further rate hikes. The US Dollar receives support from improving Treasury yields. The Japanese Yen (JPY) ended its four-day losing streak, edging higher […]
EUR/USD strengthens near 1.1055 in Monday’s early European session. The pair maintains the positive view above the key 100-day EMA, but RSI indicator shows the neutral momentum. The first upside barrier emerges at 1.1185; the crucial support level is seen at 1.1000. The EUR/USD pair trades with mild gains around 1.1055, snapping the three-day losing streak during […]
AUD/USD trades weaker near 0.6790 in Monday’s early Asian session. Fed’s Powell said ‘time has come’ for interest rate cuts. The RBA’s hawkish comments might cap the AUD’s downside in the near term. The AUD/USD pair trades on a weaker note around 0.6790 during the early Asian session on Monday. However, the US Dollar (USD) is likely […]
AUD/USD experienced a drop, adjusting to 0.6950, because of a USD recovery. Strong Australian PMIs might limit the pair’s downside. The persistent hawkish views of the RBA keep backing the Aussie versus its peers. On Thursday, the AUD/USD is seeing a moderate decline, retracing some of the gains after the approximately 2% rally from the […]
NZD/USD loses ground due to risk aversion ahead of the Fed Chair Powell’s speech scheduled on Friday. The recent FOMC Minutes suggested that most Fed officials agreed on a rate cut in September. The New Zealand Dollar declines as Retail Sales is expected to fall by 1.0% QoQ for Q2. NZD/USD breaks its four-day winning […]
Here is what you need to know on Wednesday, August 21: The US Dollar (USD) holds its ground against its major rivals early Wednesday as markets wait for the US Bureau of Labor Statistics to announce the preliminary benchmark revisions to Nonfarm Payrolls. Later in the American session, the Federal Reserve will release the minutes […]
The Australian Dollar may advance its gains as RBA Minutes indicated current cash rates for longer. RBA’s August Meeting Minutes suggested that a rate cut is unlikely soon. The US Dollar may receive support from caution ahead of the FOMC Minutes release on Wednesday. The Australian Dollar (AUD) holds ground, aiming to extend its gains […]
The downside of the Japanese Yen could be limited as BoJ is highly expected to implement further rate hikes. Recent economic growth in Japan raises the possibility of another near-term BoJ rate hike. The US Dollar gains ground as Treasury yields attempt to retrace recent losses. The Japanese Yen (JPY) declines against the US Dollar […]
NZD/USD resumes gains and sees more than 1% gains, rising to 0.6050. Rising green bars on the MACD and RSI around 55 indicate increasing bullish momentum. Pair trades above immediate support of 0.6030, and faces resistance at 0.6070-0.6100. In Friday’s session, the NZD/USD pair resumed its upward trajectory, extending gains to 1% to reach 0.6050 and […]
