The U.S. dollar got strong support in Asia on Thursday due to soaring Covid-19 cases. As a result, it recovered some of the gains lost in the previous session. On Wednesday, the greenback tumbled down as Federal Reserve chair Jerome Powell declared that he isn’t going to withdraw policy support anytime soon. The greenback climbed …
USD Rebounded Thursday while GBP Fell Ahead of Reopening Read More »
The USD/EUR pair hit a three-month high on Wednesday, while the USD/JPY pair skyrocketed to a one-week high. Rising U.S. inflation had traders betting on a faster monetary policy tightening than U.S. Federal Reserve officials hinted thus far. Meanwhile, the New Zealand dollar soared by more than 1%, with NZD/USD pair trading as high as …
USD/EUR Hit a Three-Month High. What about Other Currencies? Read More »
Forex markets remained on edge on Tuesday ahead of the U.S. inflation data. Investors think that it may provide clues about the timing of the Fed’s stimulus tapering and rate hikes. Last month the Federal Reserve surprised markets by suddenly announcing that it was considering rate hikes and tapering of stimulus aid. That announcement boosted …
USD fell slightly Tuesday as traders waited for Fed’s data Read More »
The EUR/USD continued its downtrend in the Asian session on Thursday morning. The pair traded near the multi-month low, around 1.1795, for a while. However, currently, it stands at 1.1790, higher by 0.01% for the day. The U.S. Dollar Index remained steady at a 13-week high against six major rivals on Thursday, despite the Federal …
EUR, USD, JPY, GBP, AUD, NZD, CNY Forecast for Thursday Read More »
The EUR/USD pair remained red on Wednesday, suffering from mild downside momentum on the four-hour chart. It is trading below the 50, 100, and 200 simple moving averages on the four-hour chart currently. However, EUR/USD has rebounded from the previous multi-month low of 1.1808. Below 1.1808, the pair’s next support lines are at 1.1760 and …
EUR/USD, USD/JPY, and GBP/USD Forecast for Wednesday Read More »
The Euro soared on Tuesday, leaving Monday’s pessimism behind. Traders are now focusing on the 1.1900 area. The EUR/USD pair navigates in the area of 4-day highs, remaining just shy of 1.1900. The selling bias around the greenback lessened on Tuesday. At the same time, risk sentiment improved. Friday’s Nonfarm Payrolls (850K) reports were positive, …
EUR/USD, GBP/USD, and AUD/USD Forecasts for Tuesday Read More »
The EUR/USD pair traded lower this week as predicted. It hit the next target of 1.1820/10 on Monday. Furthermore, the pair bottomed at that range before NFP boosted it, enabling recovery to the first resistance level at 1.1870/80. Meanwhile, the USD/CAD pair soared higher as predicted last week, especially after the bullish cup and handle …
USD, EUR, GBP, AUD, and NZD’s trading forecast for Monday Read More »
USD/JPY pair hit a new 15-month high at 111.62 on Thursday, reaching its highest level since March 2020, thanks to a consistent bullish trend since early May 2021. The pair also posted a lot of gains in the last week of June. Current forex market sentiment is somewhat pessimistic and a bit risk-off due to …
USD, JPY, EUR, and GBP’s moves Friday – Forex market wrap Read More »
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