US Dollar Holds Steady Following Fed Rate Cut
The US Dollar (USD) is trading broadly steady on Friday, following its decline after the Federal Reserve’s (Fed) rate cut decision. The market is now digesting the implications of the Fed’s move and looking ahead to upcoming economic data. Economic Outlook The US economic calendar is relatively quiet this week, but next week will feature […]
Mexican Peso Holds Steady Following Fed Meeting
The Mexican Peso (MXN) is trading within a narrow range, with tepid gains and losses in its most heavily-traded pairs. While the peso benefited from the Federal Reserve’s (Fed) rate cut last week, it has faced downward pressure from concerns about Mexico’s economic outlook and the potential impact of recent judicial reforms. Economic Outlook Capital […]
GBP/USD Falls Following US Retail Sales Data
The GBP/USD pair has declined following the release of stronger-than-expected US Retail Sales data. While the data did not significantly impact expectations for a 50 basis points (bps) Fed rate cut, it did weigh on the Pound Sterling (GBP). GBP/USD Technical Analysis The GBP/USD pair has a short-term bearish bias, but the Relative Strength Index […]
EUR/USD Surges as Fed Rate Cut Bets Increase
The EUR/USD pair has extended its gains, driven by growing expectations that the Federal Reserve (Fed) will aggressively cut interest rates. The US Dollar Index (DXY) has declined, as the probability of a 50 basis points (bps) rate cut in September has increased significantly. US Inflation Data The US Producer Price Index (PPI) data for […]
EUR/USD Surges as US Dollar Weakens and ECB Maintains Dovish Stance
The EUR/USD pair has strengthened, driven by a weaker US Dollar (USD) and a dovish stance from the European Central Bank (ECB). The US Dollar Index (DXY) has declined, as market speculation for a 50 basis points (bps) rate cut by the Federal Reserve (Fed) has increased following the release of US Producer Price Index […]
EUR/GBP Forecast: Upward Channel Continues
The EUR/GBP pair is extending a shallow ascending recovery channel that began at the August 30 lows. While the short-term trend remains uncertain, the pair is likely to continue climbing steadily higher within the channel’s boundaries. Potential Upward Breakout A close above the 0.8464 high could confirm an upside breakout from the channel. This would […]
GBP/USD Falls as US Inflation Data Suggests Fed’s Measured Approach
The GBP/USD pair is trading marginally lower on Wednesday following the release of US inflation data, which has led to an appreciation in the US Dollar (USD) and a decline in the Pound Sterling (GBP). US Inflation Data The US Consumer Price Index (CPI) for August came in slightly below expectations, but the core CPI […]
Mexican Peso Under Pressure Amid Judicial Reform Concerns and Lower Inflation
The Mexican Peso (MXN) is trading marginally lower on Tuesday, continuing its downward trend since April. Investor concerns about the government’s ability to pass a controversial judicial reform bill and lower inflation data have put pressure on the peso. Judicial Reform Concerns The government’s proposed judicial reforms, which would allow judges to be elected rather […]
GBP/JPY Under Pressure
The GBP/JPY pair has been in a short-term downtrend since peaking in early September. The pair is currently consolidating near the 186.51 level, with potential for further downside. A break below 186.51 could signal a continuation of the downtrend, with potential targets at 184.51 and 182.82. However, the pair’s recent recovery suggests a potential for […]
Pound Sterling Holds Near 1.3200
The Pound Sterling has remained relatively stable, with the GBP/USD pair trading near the 1.3200 level. The market’s focus remains on the Federal Reserve’s monetary policy outlook, with expectations for interest rate cuts in September increasing. The weaker-than-expected US economic data has raised concerns about the US labor market’s strength, potentially impacting the Federal Reserve’s […]