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EUR/GBP consolidates in a narrow range around 0.8620, investors await UK GDP

The EUR/GBP pair oscillates in a narrow range around 0.8620 heading into the early European session on Tuesday. Market players await the UK Gross Domestic Product (GDP) Q2 for fresh impetus. The growth rate is expected to grow by 0.2% on a yearly basis. The latest data from Destatis showed on Tuesday that the German […]

EUR/USD could struggle to cling on to 1.10 – SocGen

Euro steady at 1.10. Aussie thunders towards 0.65. Economists at analyze the outlook of EUR/USD and AUD/USD pairs AUD/USD could return to the May/June low of 0.6458 EUR/USD mostly ignored the weakness in Yen and Yuan but could struggle to cling on to 1.10 as European stocks and yields retreat. The AUD is the biggest faller in […]

USD/CAD Analysis: Bulls pause near 50% Fibo., US/Canadian jobs data eyed for fresh impetus

The USD/CAD pair oscillates in a narrow trading range around mid-1.3300s heading into the European session on Friday and remains well within the striking distance of a four-week high touched the previous day. The overnight sharp rise in Crude Oil prices continues to underpin the commodity-linked Loonie, which, along with subdued US Dollar (USD) price action, acts […]

Oil update: The Russian impact

In February, Russia declared its plan to reduce oil production by 500kb/d in March due to the price caps imposed by the West on Russian oil and oil products. However, implementing this pledge was only partially done during the spring. Therefore, the announcement made by Russia in early July to further decrease oil exports by […]

BoE hike rates to another 25bps!

Inflation is falling, but still too high… BoE has raised interest rates to make sure inflation keeps on falling and stays low… BoE expect inflation to fall markedly further this year and meet their 2% target by early 2025… Inflation is falling, but still too high… Amidst a backdrop of a declining infection rate and […]

US Dollar keeps strength towards NFP

A sell-off at the long end of the US Treasury market has cast a shadow over risk assets and hit cyclical currencies. The dollar has been the main beneficiary. Expect focus to remain on the US bond market very much into next week’s quarterly refunding. USD: Tracking treasuries In Wednesday’s session, the focus was on […]

Fx technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar” EUR/USD has completed a wave of decline to the 1.0920 level. Today the market is forming a consolidation range above this level. A downward breakout is expected with the wave continuing by the trend to the 1.0868 level and the structure potentially extending to the 1.0840 level. A correction to 1.0944 […]

Currency market: FX next week

DXY for the past 8 weeks traded in a fairly straight line from 103.00’s to 99.00’s  As the July lows achieved 99.00’s , DXY not only traded to high 102.00’s but supports were created at 100.38, 100.81, 101.07 and 101.20. This week, DXY traded freely at 128 pips inside open ranges from 101.00’s to overbought […]

What does the US credit downgrade mean for markets?

The United States government’s credit rating has been downgraded by Fitch, citing concerns about runaway deficits and rising debt burdens. Riskier assets like stocks fell on the news, while the US dollar traded higher amid a flight to safety. Is this downgrade a game-changer for global markets?  Downgrade Credit ratings agency Fitch just downgraded the quality […]

US treasury yield rally and BOJ intervention impact forex landscape

Bunds and US Treasuries parted ways yesterday. Yields on the latter surged more than 8 bps at the long end of the curve. That had little to do with the Fitch rating downgrade, though it was related to one reasons for the decision: the deterioration fiscal situation. US Treasury for the first time in over two years […]