Forex News

USD/JPY gapped up since the Asian session by about 30 pips, reaching a daily high of 132.90. USD/JPY Price Analysis: Neutral biased, but tilted upwards, with bulls eyeing 133.00. The USD/JPY gapped toward new 5-week highs shy of the 50-day Exponential Moving Average (EMA) by just two pips at 132.89 and remained nearby, about to…

EUR/USD stumbles to multi-week lows at around 1.0720s on a buoyant US Dollar. Last week’s EU’s retail sales disappointed, while factory activity in Germany improved as orders rose. EUR/USD Price Analysis: After dropping below the 100-DMA, risks are skewed to the downside. The EUR/USD extended its fall to new four-week lows at around 1.0720s due…

The Market Participants Survey for the fourth quarter of 2022 published by the Bank of Canada (BOC) showed on Monday that the median of responses for the policy rate by end-2023 stood at 4%, forecasting a 50 bps cut. The median forecast for the real Gross Domestic Product (GDP) points to a fall of 0.4%…

On Friday, AUD/USD dove back below the 0.700 level. Economists at Rabobank continue to see scope for AUD/USD to strengthen to 0.72 towards the back half of this year. AUD/USD to trade mostly in the 0.69-0.70 area on a three-month view “An as expected 25 bps rate hike from the RBA this week, should not…

The Dollar peaked in September when real rates also peaked. Kit Juckes, Chief Global FX Strategist at Société Générale, expects to see the end of the downtrend for now. A bucket of cold water to calm Dollar bears down “A pause seems likely. This week’s economic calendar is short on major market-moving data, and market…

Economists at the bank of Montreal point out prerequisites needed to lift EUR/USD and GBP/USD above 1.10 and 1.25, respectively. Reduced risk of economic hard landing in Europe provides better support to EUR and GBP “It’s one month into 2023 and the reduced risk of an economic hard landing in Europe is providing better support to the EUR…

Last week’s strong US labor market report warranted further US Federal Reserve action. Money market futures have shown 50 bps of rate hikes priced in for the May meeting. Gold Price Analysis: Neutral with risk skewed to the downside. Gold price fall is being stopped as bulls entered the market at last Friday’s low of…

GBP/USD manages to reverse part of the recent sell-off. BoE’s C.Mann sees upside risks to the inflation outlook. UK Construction PMI improved a tad in January. The British pound manages to somewhat shrug off the current dollar strength and motivates GBP/USD to rebound from earlier lows near 1.2020 on Monday. GBP/USD looks supported near 1.2020…