FX

EUR/JPY bears are eyeing a significant downside correction on the monthly time frame.  The price is testing a critical daily and 4-hour resistance area.  The following is a bearish perspective of the current market structure in EUR/JPY across the time frames, from the monthly chart all the way down to the 4-hour chart.  Monthly chart

AUD/USD attracted buying for the second consecutive day and recovered further from YTD lows. The risk-on impulse undermined the safe-haven USD and benefitted the perceived riskier aussie. COVID-19 jitters might hold bullish traders from placing aggressive bets and cap gains for the pair. The AUD/USD pair edged higher during the early European session and climbed

AUD/USD reversed its direction in the second half of the day. US Dollar Index looks to snap four-day winning streak.  Wall Street’s main indexes continue to trade in the positive territory. The AUD/USD pair dropped to its lowest level of 2021 at 0.7290 during the European trading hours but managed to stage a recovery in

EUR/USD probes five-day downtrend near three-month low, off intraday bottom. Delta covid variant back easy money supporters, US policymakers “not that far apart” ahead of infrastructure spending procedural vote. DXY shrugs off Treasury yields to stay firmer around April tops. ECB may struggle to justify hawkish tilt on Thursday. EUR/USD fades bounce off intraday low,

Housing data released on Tuesday came in mixed. Housing starts rose 6.3% in June to a 1.643 million-unit pace, with both single-family and multifamily starts rising solidly, explained analysts at Wells Fargo. They point out the net result is still stronger than had been expected, however, and new home construction and apartment development both appear

EUR/JPY keeps bounce off four-month low, refreshes intraday high. US 10-year Treasury yields consolidate the heaviest daily loss since November. US stimulus headlines jostle with mixed updates over Delta covid variant amid subdued markets. Japan’s National Core CPI jumps the most since March 2020 on YOY. EUR/JPY picks up bids to 129.20, near the lowest

The Canadian dollar went on its strongest run in more than a decade, rising to a six-year high of 83 US cents in early June. Has the loonie already reached its peak for the year? In the view of economists at RBC Economics, yes. The lift that the CAD got from rising prices from oil

Risk-off could be the order of the day as markets follow Friday’s sullen mood.  Covid cases on the rise and threat to global recovery have been marked in forex. AUD/JPY bears could get the boost they need towards the weekly support structure.  The start to the week might well be more of the same from

USD/JPY rose to a daily high of 110.35 on Friday. 10-year US Treasury bond yield erased its daily recovery gains. US Dollar Index stays in the positive territory after mixed US data. After closing the previous two trading days in the negative territory, the USD/JPY pair staged a rebound and reached a daily high of

Jane Foley, Senior FX Strategist at Rabobank, thinks that the AUD/USD pair could drop toward 0.7200 by the end of the year. Key quotes “Over the coming year or so, developments in the Australian labour market and in particular wage data will be instrumental in guiding expectations regarding RBA policy.” “In this time-frame, it is

GBP/USD falls under 1.3800 to one-week lows Pound weakens near the end of the week amid risk aversion. GBP/USD could post the lowest weekly close since April. The recovery of GBP/USD was short-lived and after reaching 1.3865, it turned to the downside. Recently broke under European session lows and fell to 1.3771, hitting the lowest

The US economy is expected to grow by 3.2% and 4.2% in the second and the third quarter of 2021, respectively, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. “News from this week’s data releases left the nowcast for 2021:Q2 largely unchanged, and increased the nowcast for 2021:Q3 by 0.4

The Reserve Bank of New Zealand (RBNZ) released its Sectoral Factor Model Inflation gauge for the second quarter of 2021 after the publication of the official consumer price index (CPI) by the NZ Stats early Friday. The gauge accelerated 2.2% QoQ in Q2 vs. 2.0% prior. The Q1 figure was revised up to 2.0% YoY from 1.9% last. The inflation

GBP/USD has been falling some 40 pips from the highs as the dollar gains ground.  Mostly worse-than-expected US data and uncertainty stemming from Powell weigh on sentiment.  UK covid figures are eagerly awaited after Wednesday’s leap. Back to the drawing board – GBP/USD has dropped to around 1.3850, nearly unchanged on the day. The safe-haven US

GBP/USD analysis: Returns to 1.3900 The GBP/USD traded with high volatility due to the US CPI release on Tuesday. However, on Wednesday, the rate had recovered and appeared to be set for another test of the resistance zone above the 1.3900 mark. In the case that the rate passes the resistance of the 1.3900 mark, the GBP/USD

GBP/USD Forecast: Dead-cat bounce? Pound at the mercy of Powell Inflation is everywhere – that is the notion after both the US and the UK have reported higher-than-expected price rises. However, the increases are boosted by transitory factors on both sides of the pond, and what matters is what policymakers think about it. The latest

AUD/NZD marks the heaviest daily loss since late May as RBNZ hints at tapering. Clear U-turn from 200-DMA, bearish MACD and downside break of short-term key support also favor bears. AUD/NZD slumps around 70 pips to recently around 1.0640, down 0.74% intraday, following the RBNZ meeting on early Wednesday. In doing so, the cross-currency pair

European Central Bank (ECB) policymaker Mario Centeno said on Tuesday that there is a risk of losing credibility if the ECB’s new guidance does not show more leeway on inflation, as reported by Reuters. Key takeaways “ECB must be patient with inflation deviations that it has not tolerated in the past.” “There is no inflation overshooting