UOB Group Forecasts Range-Bound Trading for USD/JPY, with Potential for Further Downside
UOB Group analysts anticipate that the USD/JPY pair will continue to trade within a range in the near term, potentially moving between 143.50 and 146.20. The pair’s recent price action suggests slowing downward momentum, but the overall weakness persists as long as the strong resistance level at 148.30 remains unbroken. Key Takeaways: Market Implications: Traders […]
NZD/USD Falls Further Amidst Risk-Off Sentiment, Eyes on China CPI
The NZD/USD pair continues its downward trajectory, currently trading around 0.5930 during Tuesday’s European session. This decline is driven by growing tensions in the Middle East and fears of a US economic slowdown, impacting risk-sensitive currencies like the New Zealand Dollar (NZD). Market Drivers: Upcoming Data: Traders are eagerly awaiting the release of China’s July […]
EUR/USD Soars to 7-Month High Near 1.1000 as US Dollar Weakens on Recession Fears
The EUR/USD pair has reached a new seven-month high of around 1.1000 during Monday’s American session, fueled by a sharp decline in the US Dollar amid growing speculation of potential emergency rate cuts by the Federal Reserve (Fed). The weakening USD reflects concerns about the US economic outlook following recent data suggesting a potential slowdown. […]
US Dollar Rebounds Post-Fed, Eyes on NFPs for Further Direction
The US Dollar (DXY) saw a recovery on Thursday after the Federal Reserve’s meeting, despite market anticipation for a September rate cut. While signs of disinflation are emerging, Fed Chair Jerome Powell’s call for further data before easing policy has tempered expectations, leading to a slight bounce back in the DXY. Market Movers: US Dollar […]
Mexican Peso Falls as US Data Fuels Recession Concerns
The Mexican Peso (MXN) weakened against the US Dollar (USD), extending weekly losses following the Federal Reserve’s (Fed) decision to hold interest rates steady but signal a potential cut in September. Despite initial gains, the USD/MXN pair is currently trading at 18.85, a decline of over 1%. USD/MXN Market Sentiment: Risk aversion in global markets […]
US Dollar Dips Ahead of Fed Policy Outcome, Market Braces for Potential Rate Cut Signals
The US Dollar (USD), measured by the DXY index, is trading lower in Wednesday’s European session, hovering near 104.40, as investors await the Federal Reserve’s (Fed) monetary policy announcement. Market expectations suggest the Fed will maintain current interest rates, but the focus is on whether the central bank will signal a potential dovish shift in […]
USD/CHF Consolidates Near 0.8850 Ahead of Key Fed Policy Announcement
The USD/CHF pair is trading within a narrow range near 0.8850 during Tuesday’s American session as investors await the outcome of the Federal Reserve’s (Fed) monetary policy meeting on Wednesday. USD/CHF Market Focus: The Fed is widely expected to maintain its current interest rate levels, but market participants will be closely watching the Fed’s guidance […]
GBP/USD Weakens Ahead of BoE Decision, Slips Towards 1.2800
The GBP/USD pair has started the week on a downward trend, trading at 1.2826, a decline of 0.28%. This dip occurs in anticipation of the Bank of England’s (BoE) upcoming monetary policy decision on August 1st, with market participants increasingly expecting a rate cut despite odds remaining around 59%. Technical Outlook: The GBP/USD pair has […]
Mexican Peso Rebounds as US Core PCE Data Eases Rate Hike Fears
The Mexican Peso (MXN) has strengthened against the US Dollar (USD) following the release of the US Core Personal Consumption Expenditures (PCE) data on Friday. The Fed’s preferred inflation gauge showed a further easing of price pressures, reinforcing market expectations of a Fed rate cut in September and potentially two more before year-end. This weakening […]
EUR/USD Rebounds Despite Weak Eurozone Outlook and Rate Cut Expectations
The EUR/USD pair has rebounded to near 1.0850 in Thursday’s European session, even as concerns over the Eurozone’s economic prospects and potential ECB rate cuts persist. The rebound is attributed to a weakening US Dollar ahead of the release of the US Q2 GDP data. Despite the recovery, the Euro’s near-term outlook remains uncertain due […]