Fresh-Forexcast2004

Fresh-Forexcast2004

This is due to weaker-than-expected US labour market data and a rise in Eurozone services PMIs. The euro is performing well against the US dollar, with EUR/USD trading at 1.0858, up 0.21%. The US dollar remains steady despite initial jobless claims for the week ending 30 March rising from 212k to 221k, which exceeded forecasts of 214k. Meanwhile, the US trade...

Fresh-Forexcast2004

The Japanese Yen (JPY) rises against its US counterpart during Thursday's Asian session and looks to consolidate the previous day's modest rebound from around multi-decade lows. The increasing threat of intervention from the Japanese authorities continues to provide some support for the currency. In addition, the overnight drop in the US Dollar (USD) to near...

Fresh-Forexcast2004

Events to watch out for today: 17:00 EET. USD - ISM Services Business Activity Index 19:10 EET. USD - Federal Reserve Chairman Jerome Powell to deliver speech GBPUSD: GBPUSD remains vulnerable due to slowing UK inflation and gloomy market sentiment. Traders will be keeping a close eye on Wednesday's Fed speech as it could provide some hints on the interest...

Fresh-Forexcast2004

Event to watch out for today: 14:30 EET. USD - Number of initial applications for unemployment benefits / Change in GDP volume for the quarter EURUSD: EUR - USD continues to lose ground for the third consecutive session on Thursday, falling to 1.0820 during the Asian session. However, the US dollar is showing weakness ahead of the release of the US gross...

Fresh-Forexcast2004

Several Federal Reserve policymakers plan to continue with lower interest rates due to a challenging path to inflation. They anticipate three rate cuts in 2024, which may impact the US dollar. On Thursday, US and UK gross domestic product (GDP) data will be released. Despite the recent monthly increase in inflation, Fed Chairman Jerome Powell stated last week...

Fresh-Forexcast2004

EUR/USD is unable to capitalize on a good bounce from 1.08000, a three-week low, and has been fluctuating in a narrow range during Tuesday's Asian session. Spot prices are currently trading around 1.08400, almost unchanged for the day, and remain at the mercy of US Dollar (USD) price action. Last week, the US central bank said that it still intends to cut...

Fresh-Forexcast2004

USDJPY: The USD/JPY pair continues to decline, approaching 151.20 during the Asian session on Monday. This movement followed the publication of the minutes of the Bank of Japan's (BoJ) January policy meeting. BoJ board members recognized that the likelihood of achieving the inflation target, albeit gradually, is increasing. Board members discussed the...

Fresh-Forexcast2004

Event to watch out for today: 15:00 EET. USD - Fed Board of Governors Chairman Jerome Powell to deliver a speech EURUSD: EUR/USD retreats to the 1.0860 area in the early hours of Asian trading on Friday. The decline of the main pair is supported by the strengthening of the US dollar and rising US Treasury bond yields. Traders are expecting the speech of Fed...

Fresh-Forexcast2004

The Japanese Yen (JPY) is gaining positive momentum during the Asian session on Thursday and is recovering from its lowest level since November 2023 reached the previous day. The Bank of Japan (BoJ) is reportedly considering another rate hike in July, although an October hike is seen as one of the most likely scenarios. This, along with favorable economic data...

Fresh-Forexcast2004

The Euro-dollar pair is trading flat above the mid-1.0800s at the start of the Asian session on Wednesday. Meanwhile, the US Dollar Index (DXY) is consolidating its gains near three-week highs of 103.80. Traders are expecting the Federal Open Market Committee (FOMC) monetary policy meeting later in the day and will be more focused on Chairman Jerome Powell's press...

Fresh-Forexcast2004

USDJPY: The Japanese yen (JPY) declined for the sixth consecutive day sliding to a near two-week low against its U.S. counterpart during the Asian session. Growing confidence that the Bank of Japan (BoJ) will wait until April to exit its negative interest rate and yield curve control (YCC) policy has proven to be a key factor undermining the JPY. Moderate US...

Fresh-Forexcast2004

The GBP/USD pair appeared to reverse the decline that began on Thursday, hovering around 1.2730 during the Asian session on Monday. However, the pair faced setbacks amid market caution ahead of the US Federal Reserve's interest rate decision on Wednesday. On Friday, the preliminary US Michigan Consumer Sentiment Index for March declined to 76.5 from the previous...

Fresh-Forexcast2004

Events to pay attention to today: 17:00 EET. USD - Michigan Consumer Sentiment GBPUSD : The GBP/USD continues to slide around the mid 1.27000's in early Asian trading on Friday. The major pair is sinking to multi-day lows near the 1.27400 level, as the dollar recovers following the release of strong economic data from the US. Later in the day, traders will...

Fresh-Forexcast2004

Events to watch out for today: 14:30 EET USD - Change in retail trade volume 16:30 EET USD - Change in natural gas reserves EURUSD: The Eurodollar is near 1.0950 during Thursday's Asian session, trying to maintain the gains of the previous session. EUR/USD gained momentum as the US dollar tried to maintain its strength despite rising US Treasury yields,...

Fresh-Forexcast2004

USDJPY: The Japanese yen is rising against its U.S. counterpart during the Asian session on Wednesday and is moving away from a one-week low hit the previous day. A Bloomberg report indicates that the Bank of Japan (BoJ) is considering a rate hike in March, although the outcome is too close to call and a final decision will be made after officials see the first...