USD/JPY is currently positioned at 153.90, bouncing back from Tuesday’s low of 152.00, as strong U.S. economic data has revitalized the strength of the dollar. The ISM services PMI increased to 52.4, rising from 50.8, while the ADP employment report indicated a gain of 25,000 jobs compared to a previous loss of 32,000. The data … Read more
The US dollar index moved within a three-point range around the 100 mark on Monday, finishing at a six-month high. A few weeks ago, it is pointed out 100 as a possible target for bullish movements. If momentum decreases from here, it could indicate wave C of a flat ABC correction. This remains an essential … Read more
The GBP/USD has entered a significant downward trend, declining to a six-month low at 1.3070, influenced by fiscal tightening alerts from UK Chancellor Rachel Reeves, revived anticipations of a Bank of England rate cut, and ongoing strength of the U.S. dollar in anticipation of crucial macroeconomic events. The currency pair, which was trading near 1.3725 … Read more
The EUR/USD pair is experiencing a significant downturn, dropping to 1.1518 during Tuesday’s European session following five straight days of losses. The euro’s weakness indicates a definitive market assessment: the U.S. dollar continues to hold a strong monetary and yield advantage. The decline of the pair from 1.1600 highs early last week to current levels … Read more
During a risk-off session on Tuesday, the Japanese yen emerged as the strongest among the major currencies, with the US dollar closely trailing behind. A notable drop in Palantir’s stock, despite an optimistic forecast, along with cautions from the CEOs of Goldman Sachs and Morgan Stanley that a pullback might be “healthy,” significantly impacted market … Read more
The AUD/USD exchange rate experienced a decline over three consecutive days as market participants responded to the Federal Reserve’s hawkish stance on interest rate cuts. The price has declined to the 50-day moving average, with attention now turning to the forthcoming decision by the Reserve Bank of Australia. The AUD/USD pair experienced a decline as … Read more
The GBP/USD is under considerable strain, trading near 1.3130, only a bit above last week’s six-month low of 1.3100. The pair continues to face challenges as the U.S. Dollar Index holds near a three-month high, bolstered by reduced expectations for another Federal Reserve rate cut in December. The financial perspective for the U.K. and the … Read more
The EUR/USD pair is facing increased selling pressure, currently trading near 1.1520, just above a three-month low of 1.1500, while the U.S. dollar remains steady around 99.78 in anticipation of the ISM Manufacturing PMI release. The euro is facing challenges in regaining momentum after experiencing a series of technical breakdowns at 1.1550 and 1.1530, further … Read more
The exchange rate for USD/JPY is presently around 154.15, holding steady near its eight-month peaks. The couple’s path for November is influenced by differing monetary policies, Japan’s fiscal growth, and possible intervention risks. The dollar’s rise from 151.50 to 154.45 reflects a renewed confidence in the U.S. economy, especially after the data showed the eighth … Read more
Large traders who had maintained the expectation that the Fed would need to adopt an aggressively dovish stance over the past few weeks, which sustained the GBP/USD in elevated territory despite consistently choppy conditions, faced a setback in their Forex positions on Wednesday. GBP/USD exhibited signs of volatility on Tuesday as it gradually declined, and … Read more