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Pound Sterling capitalizes on improved market sentiment, UK GDP in focus

The Pound Sterling (GBP) looks set to deliver a fresh upside as the market mood is supportive for risk-sensitive assets. The GBP/USD pair is aiming for more upside as investors hope that the policy divergence between the Federal Reserve (Fed) and the Bank of England (BoE) will not widen further since they are both sufficiently restrictive to […]

EUR/JPY Price Analysis: Support remains near 154.30

EUR/JPY quickly leaves behind Thursday’s inconclusive price action and resumes the upside bias beyond the 157.00 barrier at the end of the week. In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a visit to the so far monthly high of 158.65 (September 13) prior to the 2023 […]

USD Index treads water just above 107.00, look at US data

The greenback, in terms of the USD Index (DXY), alternates gains with losses above the 107.00 mark so far on Wednesday. USD Index focuses on US data, Fedspeak The index seems to have entered a consolidative phase around the area of 2023 tops beyond the 107.00 yardstick against the backdrop of further upside in US yields […]

Australian Dollar trims intraday losses, focus on RBA policy decision

The Australian Dollar (AUD) snaps the winning streak on the third successive day on Monday. The AUD/USD pair received upward support, primarily supported by the upbeat Chinese PMI data released over the weekend. However, the US Dollar (USD) continues to demonstrate resilience after the moderate economic data released on Friday. Australia’s TD Securities Inflation (YoY) data […]

Fed Preview: Forecasts from 15 major banks, a pause, but the end of rate hikes?

The US Federal Reserve will announce its Interest Rate Decision on Wednesday, September 20 at 18:00 GMT and as we get closer to the release time, here are the expectations as forecast by analysts and researchers of 15 major banks.  The Fed is widely expected to leave its rates unchanged at 5.25%-5.50% and signal a hike in November. New macro forecasts […]

German car companies are deepening declines today after yesterday’s comments from Ursula von der Leyen

German car companies are deepening declines today after yesterday’s comments from Ursula von der Leyen, who confirmed that the EU will launch an investigation to look into ‘unfair advantages’ of Chinese electric cars imported into the EU. The declines come just days after Chinese electric manufacturers attracted attention at the high-profile IAA auto show in […]

ECB Preview: Three scenarios and their implications for EUR/USD – TDS

Economists at TD Securities discuss the European Central Bank (ECB) Interest Rate Decision and their implications for the EUR/USD pair. Hawkish (45%): 25 bps hike and dovish guidance 25 bps hike with slightly softer language in the press statement. President Lagarde reiterates the importance of remaining data dependent, but softens her language around further hikes to imply that the […]

USD/RUB surges above the 96.40 area amid the Russian Ruble weakness, traders await US PCE data

USD/RUB gains momentum for the third consecutive day during the early European session on Thursday. The pair currently trades near 96.40, up 0.27% on the day. The Russian Ruble devalued to over 96 against the US Dollar, a 16-month low due to the economic challenge in Russia Russian President Vladimir Putin stated last week that […]

EUR/USD Price Analysis: Extra upside now targets 1.0970

EUR/USD picks up further pace and climbs to weekly highs near 1.0930, an area coincident with the 100-day SMA, on Wednesday. The pair’s current momentum seems to be favouring the continuation of the march north for the time being. That said, there is a temporary hurdle at the 55-day SMA at 1.0968, which precedes the psychological […]

EUR/USD Price Analysis: Euro retreats from 1.0890 key hurdle ahead of German inflation, US employment clues

EUR/USD reverses from weekly top while posting the first daily loss in three around 1.0860 heading into Wednesday’s European session. In doing so, the Euro pair marks the trader’s positioning for today’s top-tier German and the US data while taking a U-turn from a convergence of the 100-SMA and a downward-sloping resistance line from mid-July. […]