Forex News

USD/CAD bulls 38.2% ratio as first stop. Beyond daily resistance, bulls eye the1.3560s. USD/CAD is been in the hands of the bulls at the start of the week while the yield on benchmark government debt climbed and despite a surprise in the US economic data front. Nevertheless, the technical outlook remains bullish as for the following…

Gold bears got rejected at the 100-day SMA at $1,940. US Service PMIs from ISM and S&P Global came in weak in May. US bond yields decline across the board following the disappointing data.   During Monday’s session, Gold price gained bullish momentum and reached the $1,960 level after bottoming at the 100-day Simple Moving…

The oil price is on the backside of the trend and this leaves the outlook meanwhile bullish. WTI bulls are lurking within the Fibonacci scale. Crude prices jumped today after Saudi Arabia said it would cut its crude production by -1.0 million bpd starting in July. However, weaker-than-expected global economic news raised concerns about energy demand,…

XAG/USD reclaims the 100-day EMA at $23.47 after dipping to a daily low, showcasing a subtle comeback. Despite the recovery, the market remains neutral to downward biased as XAG/USD fails to reconquer the April 25 daily low. Technical indicators suggest a battle between sellers and incoming buyers, hinting at volatility in the XAG/USD market. XAG/USD…

NZD/USD jumped to its highest level since May 26 around 0.6085 after bottoming at November lows last week US ISM Services PMI fell to 50.3 in May. S&P Global Composite PMI retreated to 54.3.   The NZD/USD traded with gains at the beginning of the week near 0.6070, fueled by poor economic data from the…

GBP/USD rate hovers above the 1.2400 mark after the last week’s USD boost from stronger-than-expected jobs data. US economic indicators reveal a mixed story, with weakening factory orders and a fall in Non-Manufacturing PMI. UK outpaces expectations with S&P Global Services and Composite PMIs, adding pressure on the Bank of England to address inflation concerns….

Euro rises on weakening US factory orders and a mixed ISM reading, with EUR/USD trading above the opening price. Wall Street displays mixed sentiment as fears of recession loom following 7th straight month of contracting Manufacturing PMI. Hawkish comments from ECB officials, boost the Euro against the backdrop of a sluggish US economy. EUR/USD erases…

US Dollar weakens across the board following lower-than-expected ISM Service PMI. US yields decline sharply after data, benefiting the Yen. USD/JPY extends reversal from six-day highs. The USD/JPY experienced a sharp drop below 140.00 after the release of US economic data that weighed on the US Dollar. Within a few minutes, the pair lost more…