EUR/USD rose to 1.0850
EUR/USD is trading in a positive range around 1.0850 during the European session on Monday. The US dollar is dragged down by weak US Treasury yields. USD under selling pressure The EUR/USD pair is slightly strengthening in the price band of 1.0850 at the beginning of the week. The US Dollar is under selling pressure after Friday's directional struggle, although the major pairs remain at stable levels. [...]
GBP/USD fell to a several-week low
GBP/USD lost almost 1% on Friday, recording losses for the week as the US Dollar (USD) recovered on the back of impressive labour market data for January. The pair has seen a drop below 1.2550 and the short-term technical outlook points to a lack of buyer interest, which may indicate a renewed decline. NFP beat expectations Nonfarm Payrolls (NFP) in the US [...]
EUR/USD is around 1.0950
EUR/USD remained in the trading range of 1.0930-1.1000 on Friday. The upside remained limited as the European Central Bank (ECB) announced the end of its extended rate tightening regime, while higher consumer price inflation in the United States signaled that rates could remain higher for a longer period of time. Holiday overseas The currency pair continues to trade apathetic on Monday within Friday's trading range due to [...]
GBP/USD holds above 1.2700 after US PCE inflation keeps rate cut hopes alive
UK retail sales rose 1.3% month-on-month in November, beating the forecast of 0.4% and rebounding from October's flat print of 0.0%. Annualized retail sales through November also grew in line with market expectations. Positive UK retail sales helped pound buyers. Annualized UK quarterly GDP came in at 0.3% [...]
EUR/USD remains under slight bearish pressure below 1.0900
European Central Bank (ECB) President Christine Lagarde gave several speeches over the past week in which she repeated her familiar message about the risks of higher inflation and the need to hold interest rates higher for longer. However, various ECB officials have softened their tone and started to lean towards the dovish side. ECB Governing Council member Yannis Stournaras warned against premature bets on [...]
GBP/USD rises slightly after consolidation
GBP/USD is trading well below the 1.2250 level on Monday. The pair is supported by a generally weaker US Dollar and positive UK GDP data released on Friday (10.11.2023). Attention is shifting towards the key US CPI data due on Tuesday (14.11.2023). Pound rises ahead of inflation data GBP/USD gained strength and advanced [...]
USD/CAD declines towards 1.3600
The USD/CAD pair fell to almost 1.330 and is expected to extend its decline near the round 1.3600 level. USDCAD remains under pressure as the US Dollar faces an intense sell-off. Stocks rose, dollar weakened Market sentiment remains bullish as investors hope that the Federal Reserve's (Fed) historically aggressive rate tightening regime is now over. [...]
EUR/USD climbs above 1.0600 despite weak German inflation data
After a quiet Asian session, EUR/USD gained traction and advanced above 1.0600 on Monday, supported by improving risk sentiment. Data from Germany showed that annual CPI inflation fell to 3.8% in October from 4.5% in September. The EUR/USD pair traded slightly higher on Monday as investors brace for a series of first-tier events in the [...]