Doubts about the Bank of Japan's ability to keep raising rates proved to be a key factor undermining the yen. The Japanese yen (JPY) lost ground against its U.S. counterpart for the second straight day on Tuesday and lifted the USD/JPY pair to a one-week high, above the mid 151.000s during Tuesday's Asian session. Uncertainty over how soon the Bank of Japan (BoJ)...
The GBP/USD pair commenced the new week in a subdued manner, fluctuating within a narrow trading range below the mid-1.27000s during the Asian session. Spot prices remain well below the three-week highs reached on Friday, with the 1.28000 mark still out of reach. However, the fundamental backdrop suggests that caution is warranted for those with a bullish outlook....
For the first time in history, Bitcoin (BTCUSD) has crossed the $100,000 mark, rising 40% in just one month! Experts say this sharp rise is linked to Donald Trump’s victory in the U.S. presidential election. Analysts believe the crypto market is reacting to Trump’s promises to simplify regulations and make the U.S. the “crypto capital of the world.” At its...
EUR/USD is declining to 1.0575 at the start of the European session on Friday. Concerns over US tariffs on European goods and rising bets on interest rate cuts by the European Central Bank (ECB) are weighing on the Euro against the US Dollar. This Friday, the US Non-Farm Payrolls (NFP) data will take center stage. The single currency remains on the defensive as...
The Japanese yen is attracting some buyers on Thursday, albeit without bullish conviction. Rising US bond yields are supporting the US dollar and lending support to the USD/JPY pair. Traders seem reluctant to make aggressive bets ahead of the release of the US NFP report on Friday. The Japanese Yen (JPY) rises against its US counterpart during the Asian...
US labor and payrolls data will dominate this week ahead of Friday's NFP. Pound/Dollar has been charting just south of the 1.2700 mark on Tuesday, holding rates in check as Pound Sterling traders struggle with a significant lull in meaningful UK economic data, while the broader markets prepare for a fresh batch of US Non-Farm Payrolls (NFP) data due out later in...
The EUR/USD pair is stuck at 1.0500 after the bullish recovery fizzled out. The pair was only able to squeeze out one green weekly candle after hitting multi-year lows around 1.0330. Euro\Dollar failed to push back from the 1.0600 mark as the short-term rebound fades. EUR/USD began another trading week by falling back to familiar short-term lows, failing an...
The Japanese yen (JPY) is declining against its U.S. counterpart at the start of a critical week and is pulling back from part of Friday's strong upward move to the highest level since Oct. 21. US Treasury yields are recovering amid US President-elect Donald Trump's reaction to the threat of 100 percent tariffs on BRICS countries. This, in turn, is helping to...
Event to pay attention to today: 13:00 EET. GBP - BOE Governor Andrew Bailey Speaks GBPUSD: The GBP/USD currency pair had a quiet session on Thursday, with trading activity on the thin side and the pair holding near the 1.27000 mark. US markets were closed on Thursday due to the Thanksgiving holiday, and Friday will also see reduced trading hours in the US,...
EUR/USD was supported in the market on Wednesday, taking the pair on a new course towards 1.0600 in the middle of the weekly trading session. The bullish bounce in the market was mainly due to investors taking a step away from recent dollar buying pressure, rather than any intrinsic strength in the euro itself. Wednesday's data list included a wide range of U.S....
The Japanese Yen (JPY) continues to attract some safe haven flows amid tariff threats from US President-elect Donald Trump. In addition, the recent pullback in US Treasury yields following the appointment of Scott Bessent as US Treasury Secretary and expectations that he will rein in the budget deficit provides further support for the low-yielding JPY. This, along...
Event to pay attention to today: 21:00 EET. USD - FOMC Meeting Minutes GBPUSD: The GBP/USD is making small gains throughout the day, but is unable to regain the 1.26000 technical level. Market flows are not providing the necessary strength to support the Pound. The UK economic calendar is relatively inactive this week. Fresh US inflation data on Wednesday...
The US Dollar may strengthen as the latest US PMI data reinforces the likelihood that the Fed will slow the pace of rate cuts. The Euro faced challenges as the latest HCOB PMI data pointed to continued weakness in Eurozone business activity. EUR/USD recovered from the two-year low of 1.0332 recorded on Friday and traded near 1.0480 during Monday's Asian session....
According to a survey of economists by Reuters, the U.S. is considering imposing nearly 40% tariffs on Chinese imports early next year. Such measures could slow the growth of the world’s second-largest economy by 1%. Economists polled by the publication, both Democrats and Republicans, believe these changes will trigger massive disruptions in the U.S. and global...
Higher market sentiment and rising US bond yields are limiting the rise of the low-yielding yen. The US Dollar is holding near its highest level in the last year and is providing support to the USD/JPY pair. The Japanese Yen (JPY) attracted buying for the second day in a row following the release of slightly better-than-expected Japanese consumer inflation...
The GBP/USD pair declined to 1.26500 during Asian trading on Thursday. This decline can be attributed to the weakening of the US dollar (USD). The US Dollar Index (DXY), which measures the value of the dollar against six major peers, is holding near 106.50 at the time of writing. However, downside risk to the US Dollar may be limited due to cautious remarks from...
Event to pay attention to today: 15:00 EET. EUR - ECB President Christine Lagarde Speaks EURUSD: On Tuesday, the EUR/USD was trading between the 1.0550 and 1.06000 levels. It tested the lower boundary but then recovered, adding just 0.14% for the day. The final data on EU Harmonised Index of Consumer Prices (HICP) inflation had little impact on market...
The Japanese yen (JPY) rose against its US counterpart during Tuesday's Asian session, although it lacked bullish confidence amid uncertainty over the timing of the Bank of Japan's (BoJ) next interest rate hike. In addition to this, risk-on sentiment reflected in the overall positive tone in the equity markets may be contributing to the safe-haven yen's decline....