The EUR/USD experienced a pullback on Friday, moving down to 1.1560 after previously reaching above 1.1600, coinciding with the stabilization of the U.S. Dollar Index at $99.66. In light of a significant three-day decline in the dollar, rate markets currently reflect an 87% probability of a 25-basis-point cut at the upcoming December FOMC meeting, a … Read more
The USD/CAD experienced a decline prior to the Thanksgiving lull, influenced by increasing expectations for forthcoming Fed rate reductions. In light of recent short-term weakness, it is important to note that major support zones are still holding firm, and the prevailing rate differentials suggest a favorable outlook for U.S. dollar strength in the future. The … Read more
The EUR/USD pair is currently stabilizing around 1.1600, marking its fourth consecutive day of gains. This trend is driven by a notable weakness in the U.S. Dollar and the differing monetary policies of the Federal Reserve and the European Central Bank. The euro’s rise from last week’s 1.1460 lows has emerged as one of the … Read more
The USD/JPY pair is currently positioned around 156.30, continuing its upward trajectory for the week following a recovery from an intraday low of 155.65. Japan’s yen remains under pressure, finding it difficult to maintain any recovery as traders assess the government’s new ¥21.3 trillion fiscal stimulus, marking the largest effort since the pandemic. Prime Minister … Read more
GBP/USD is currently at 1.3192, maintaining stability following three consecutive sessions of gains, as both macroeconomic and technical factors converge to bolster the British pound’s recovery. The pair broke through the 1.3150 resistance earlier this week and is currently stabilizing above 1.3185, achieving its highest weekly close since early October. The recent developments indicate a … Read more
The USD/JPY pair is currently trading in the range of 156.45 to 156.60, maintaining stability even amid general weakness in the U.S. Dollar and fresh speculation regarding potential tightening measures from the Bank of Japan. The Yen continues to be the weakest currency among the G8, having declined nearly 5% since early October and over … Read more
The USD/CAD pair remains in a range, fluctuating between solid resistance at 1.41 and significant support around 1.40, as overarching fundamentals suggest a slow but steady strengthening of the U.S. dollar. Pullbacks seem to present buying opportunities unless the pair falls below the 200-day EMA. The US dollar fluctuated against the Canadian dollar during the … Read more
The Australian dollar begins the week at a disadvantage following its lowest performance in six weeks relative to the US dollar. With the trimmed mean CPI set to be released mid-week, diminishing USD momentum, and market maintaining crucial support levels, AUD/USD is positioned for a potential volatility spike following last week’s significant selloff. The outlook … Read more
The USD/JPY pair is on a consistent upward trajectory, currently trading at approximately 156.38, reflecting a sustained bullish sentiment as the Bank of Japan refrains from intervention amid ongoing yen depreciation. The pair has increased over 2.4% in November, indicating expanding rate differentials between the Federal Reserve and the Bank of Japan, along with a … Read more
The USD/CAD pair rallied in the early part of Thursday’s session, although a slight pullback followed. Even so, traders should remain attentive, as the 1.40 level continues to act as a major support zone, strengthened further by the 50-day EMA. Given the current market setup, USD/CAD is expected to find renewed buying interest here, with … Read more