Share: EUR/GBP pair drops to a new seven-day low of 0.8546, influenced by market expectations of a BoE rate hike and ECB’s unchanged stance. Technical analysis shows the pair struggling to break the 50-day SMA at 0.8582, maintaining a downtrend with a year-to-date low of 0.8492 in sight. Despite the downtrend, a falling
Share: XAG/USD peaked at a daily high of $24.80 then settled near the $24.15 area. US NFPs and PMI figures from August beat expectations. Still, wages decelerated, and Unemployment rose. The USD strength drove the grey metal downwards. At the end of the week, the XAG/USD closed with losses but managed to hold some
Share: USD/INR prints the first daily loss in three, retreats from multi-day high. China inflation, Biden Administration’s easy stand on Beijing-backed AI investment ban favor pullback. Cautious mood ahead of RBA Interest Rate Decision, US inflation data restrict Indian Rupee moves. Softer Oil price, US Dollar’s retreat from key resistance add strength to
Share: AUD/USD holds lower grounds near intraday bottom, prints the first daily loss in four. Aussie Westpac Consumer Confidence slumps for August but NAB sentiment numbers improved for July, China Trade Balance improves in July. Sentiment sours amid geopolitical woes, cautious mood ahead of top-tier data. US trade data may entertain traders ahead
Share: GBP/JPY retreated towards the 181.00 area and cleared most of its weekly gains. Investors continue to digest BoE’s decision on Thursday. Governor Ueda committed that the BoJ will be more flexible with the 10-year JGB. On Friday, the JPY traded mixed against most of its rivals, mainly because of Governor Ueda’s from
© Reuters Investing.com — The pound swung between gains and losses on Thursday, as the Bank of England returned to a slower pace of rate hikes, but further joy for sterling bears relies on a bumpy ride for risk assets and an ongoing climb in U.S. bond yields. was flat at $1.2703 after falling to
Share: GBP/JPY stays pressured after reversing from three-week-old ascending resistance line. Downbeat oscillators, fears of BoE’s dovish hike direct sellers toward previous resistance line. Buyers need validation from BoE Governor Andrew Bailey and yearly high marked in July to retake control. GBP/JPY holds lower grounds near 182.00 after snapping a three-day uptrend the
Share: EUR/USD remains sidelined after reversing Friday’s corrective bounce off three-week low the previous day. Upbeat Eurozone data jostles with fresh challenges to risk to test Euro bears. Final readings of Germany’s HCOB Manufacturing PMI, US S&P Global PMIs and ISM Manufacturing PMI for July will be in focus. Retreat in hawkish Fed
Share: GBP/USD bears eye a 50% mean reversion if not the 61.8%ratio. The 4-hour W-formation neckline support has a confluence with the 78.6% Fibonacci. GBP/USD ended at around 1.2840 on Friday after reaching its lowest level since July 6 while investors remain concerned that the hawks will continue to circle over the Federal
Share: EUR/USD bulls are in the market but face a wall of resistance. EUR/USD bears eye the 4-hour W-formation and a move into test key support. EUR/USD traded higher Friday as the US Dollar bears pounced on data that inflation showed further signs of cooling in June according to Personal Consumption Expenditure data. However,
