EUR/USD drops from 1.0800 as ECB looks set to lower rates three times this year – FXStreet
EUR/USD will consolidate around 1.0770 after adjusting from 1.0800 as investors expect the ECB to cut interest rates from June. ECB Stournaras’ prediction of three interest rate cuts this year is in line with market expectations. Expectations have grown that the Federal Reserve will cut interest rates starting in September. In European trading on Tuesday, […]
EUR/USD remains above 1.0700 amid expectations of Fed refraining from further rate hikes – FXStreet
EUR/USD rose as risk appetite improved following dovish comments from Fed Chair Jerome Powell. Federal Reserve Chairman Jerome Powell said it will take longer than previously expected to bring inflation down to its 2% target. The euro could struggle as recent eurozone inflation figures raise hopes that the ECB could cut interest rates in June. […]
EUR/JPY Price Analysis: Extends its upside above 166.50 amid the overbought condition – FXStreet
EUR/JPY gained momentum on Thursday near 166.85, its highest since 2008. The cross maintains a bullish atmosphere with an overbought RSI condition. The first resistance level appears at 166.82. Initial support level is 165.35. At the beginning of Thursday’s European trading session, the euro/yen cross was trading in positive territory for the fifth day in […]
AUD/USD rises to two-day high ahead of Aussie CPI – FXStreet
The AUD/USD pair extended its gains following the disappointing US S&P global PMI, suggesting the possibility of Fed easing. The U.S. dollar has weakened as U.S. Treasury yields have fallen and stock markets have reacted positively to a possible change in Fed policy. Upcoming Australian CPI data may influence the Reserve Bank of Australia’s policy […]
USD/JPY reaches monthly high, threatens breakout on USD “impregnability” – FXStreet
With the Japanese yen losing its appeal as a safe-haven asset amid easing tensions in the Middle East, the USD/JPY pair is inching towards its April high. Geopolitical risks have not completely disappeared, and new Omicron variants pose an external threat. Friday is likely to be an important day for USD/JPY due to the Bank […]
RBNZ maintains interest rate at 5.50%, New Zealand Dollar jumps – FXStreet
Following the conclusion of its April policy meeting on Wednesday, Reserve Bank of New Zealand (RBNZ) board members decided to maintain the Official Cash Rate (OCR) at 5.50%. This decision was in line with market expectations. RBNZ Monetary Policy Statement (MPS) Overview New Zealand’s economy continues to evolve in line with the Monetary Policy Committee’s […]
GBP/USD Price Analysis: Bounces off bottom of range but soon stalls – FXStreet
This week, GBP/USD rebounded from key support levels and rose strongly. However, resistance at two major moving averages prevented the upward trend. A clear breakout of this resistance barrier would be needed for a rally to the range high to be confirmed. GBP/USD has just rebounded from the bottom of a medium-term consolidation range after […]
Japanese Yen sticks to modest intraday gains against USD, upside potential seems limited – FXStreet
The Japanese yen strengthened following the release of Japan’s consumer inflation statistics. Uncertainty over the Bank of Japan’s future policy measures does not allow for meaningful upside. A moderate USD strength could help limit losses on the USD/JPY pair. The Japanese yen (JPY) has shown a modest recovery after hitting a year-to-date low on Friday […]
Gold trades close to all-time highs as Fed reaffirms three rate cuts view – FXStreet
Gold prices plunge as the US dollar and bond yields recover. The Fed remains firm on its outlook for three rate cuts this year. The improving US economic outlook has allowed the US dollar to heal its wounds. Gold prices (XAU/USD) fell from new all-time highs near $2,220 early Thursday US time, amid a strong […]
Pound Sterling falls on soft UK Inflation, Fed policy in focus – FXStreet
Sterling is expected to remain under pressure after February’s UK Consumer Price Index (CPI) fell short of expectations. Weak inflation in the UK has strengthened market expectations that the Bank of England will start cutting interest rates in August. The next move for the US dollar will be determined by the Fed’s monetary policy meeting. […]