Forex News

EUR/USD recovered modestly after declining to 1.1700 area. US Dollar Index stays in the positive territory above 93.20. 10-year US Treasury bond yield is clinging to modest daily gains. The EUR/USD pair declined to a daily low of 1.1701 in the early American session but managed to erase a large portion of its daily losses….

Analysts at Danske Bank forecast USD/RUB at 72.00 in one month, at 72.00 in three months, 71.00 in six months, and at 70.00 in twelve months. They argue the risks for the Russian ruble shifted from geopolitics toward a strengthening of the US dollar.  Key Quotes:  “RUB has faced a number of headwinds since mid-2020:…

Data released on Friday showed New Home Sales rose in August by 1.5%, against expectations of a modest decline. According to analysts at Wells Fargo, sales have cooled down compared to the feverish pace seen in late 2020 and early 2021 but they argue that despite some moderation recently, the overall pace of sales is…

The GBP/USD pair could accelerate to the downside if the 1.3600 support area is broken, according to analysts at MUFG Bank. Their target from current levels is seen at 1.3200, with a stop-loss at 1.3950. Key Quotes: “We are establishing a short GBP/USD trade idea which is based on our scepticism of the current pricing…

According to analysts from Danske Bank, a weaker global growth outlook and the Federal Reserve tightening are likely to support the US dollar. They forecast AUD/USD at 0.70 in three months and at 0.69 in six months.  Key Quotes:  “Fading global growth momentum has supported broad USD, while worries around the Chinese property sector have…

Next week, the central bank of Mexico (Banxico) will announce its decision on monetary policy. Analysts at Standard Chartered expected a 25bps rate hike after recent developments on inflation and inflation expectations. Key Quotes:  “Banco de México (Banxico) demonstrated a dovish slant at its August monetary policy meeting; a split decision showed disagreement among board…

Evergrande’s risk of spillover weighs on the market sentiment. US 10-year bond yields are up 7% in the week, underpins the USD/JPY. Fed prospects of bond tapering also weigh in the market appetite. Fed’s Mester: “the Fed would take action if inflation is not consistent with the Fed’s goals". Earlier in the Asian session, the…

According to analysts from Danske Bank, the risks in the USD/CAD pair are tilted to the upside, as they see a broad USD strength ahead. They forecast the pair at 1.29 in twelve months.  Key Quotes:  “Bank of Canada is increasingly guiding markets towards tighter monetary conditions in Canada via both lower bond purchases and…

Aussie gains momentum on Friday versus the kiwi after breaking 1.0335. AUD/NZD is testing again the 1.0350 area and a break higher should point to more gains. The AUD/NZD is rising on Friday and is about to end the week in positive ground, having the best seven days since June; signs that the worst, at…

Analysts at Danske Bank forecast the USD/JPY pair will trade at 110.00 in a month, at 111.00 in three months, and at 112.00 in a year. They see higher US yields supporting the greenback.  Key Quotes:  “ USD/JPY has traded within the 109-110.5 range over the recent month driven largely by US yields. The Evergrande…