GBP/USD hovers around the 1.3400 mark following the Bank of England’s decision to keep interest rates steady at 4.25%, as widely expected. The hold reflects the central bank’s cautious approach amid slowing economic data and persistent global uncertainties.
Meanwhile, during the Asian session, the pair dropped sharply, hitting a one-month low of 1.3382, equivalent...
The rise in the US Dollar Index has led to a rebound against several currencies such as the Canadian dollar, the euro, and the Japanese yen, shifting the medium-term bearish trend into a bullish one. One of the pairs that could benefit from the USD’s strength is the USD/CAD.
After the USD/CAD pair recorded a new high by breaking the last lower high, the recent...
In the wake of the escalating geopolitical tension in the Middle East, markets have been reacting sharply. Focusing on USDJPY pair, as the conflict shows signs of intensifying, investors turned to traditional safe-haven assets notably the Japanese yen amid fears of a broader regional spillover.
Beyond geopolitical tension in the Middle East, both economies are set...
The EUR/JPY pair is trading in a general uptrend, forming higher highs and higher lows, which maintains a bullish momentum.
What’s the pair’s next expected move?
As long as the 164.556 level is not broken with a 4-hour candle closing below it, any pullback remains corrective. The pair is likely to rebound from the 164.823 level to target the 165.510 level.
Earlier today, the UK’s Claimant Count Change (jobless claim) i.e. the number of people in the UK claiming unemployment related benefits for the month of May was released with a whopping 33.1k against 9.5k projection and average earnings index plus bonus witnessed a decline to 5.3% against 5.5% forecast.
Today’s disappointing UK labor market report prompted a...
With just minutes to go before the European Central Bank (ECB) announces its highly anticipated rate decision, market participants are maintaining a cautious stance. The EUR/USD pair remains relatively calm, reflecting a wait-and-see approach ahead of the official release.
According to broad market consensus, the ECB is expected to implement a 25-basis point rate...
Several negative data points were released this week for the US dollar, led by the ADP Non-Farm Employment Change, which posted its lowest reading since March 2023 at just 37K. Additionally, the Non-Manufacturing PMI fell below the key 50 level, recording 49.9. These readings add further downside pressure on the US dollar. On the other hand, the Bank of Canada...
During governor Kazuo Ueda’s speech on Tuesday, he emphasized that the central bank would raise interest rates once it is convinced enough that economic and price growth will re-accelerate after a period of stagnation.
He further signaled the central bank will continue to taper its huge bond buying even after an existing plan running through March expires,...
From a technical standpoint, USD/JPY found support around the 142.11 level, which triggered a break above the descending trendline on the 4-hour chart. This breakout suggests a shift in momentum, favoring the bulls in the short term. However, the upward movement is currently facing resistance near the minor supply zone at 144.20, where price has temporarily...
Gold is trading in a general downtrend on the daily timeframe, within a range defined by the level of 3434.660, which represents the most recent lower high, and the level of 3120.820, which marks the most recent lower low. These levels define the current trading range on the daily chart.
Using Fibonacci from the daily lower high to the daily lower low, the level...
The GBP/NZD pair is trading in a general uptrend on both the daily and 4-hour timeframes, forming higher highs and higher lows.
What is the potential upcoming technical scenario?
After the price recorded a new high above the 2.26939 level, a corrective pullback is expected to test the 2.2565 level, followed by a rise targeting the 2.27013 level.
Maintaining...
The US stock indices saw a noticeable drop in recent trading sessions, as markets wait for President Donald Trump’s new tax plan and its implications for US debt.
The S&P 500 had surged more than 23% since April, but the rally seems to have ended from a technical point of view, reflecting rising concerns about the US economy.
A bearish divergence appeared while...
AUDNZD has maintained a bearish tone since Monday’s New York session, following a break and retest of the trendline. The pair also closed below the 50 EMA, reinforcing the dominance of sellers in the market. Meanwhile, there are several factors that led to the weakness of the AUD. Earlier on Tuesday, the RBA implemented another interest rate cut, aligning with...
The GBP/AUD pair is trading in an uptrend, forming higher highs and higher lows, and the current pullback is considered a corrective move within this upward trend.
The level of 2.05763 is seen as a positive support level for the pair, where a potential rebound to the upside could occur, targeting the 2.07442 level.
However, if the price falls below the 2.05110...
The US dollar has regained its upward momentum recently, supported by market optimism following the mutual US-China agreement to reduce tariffs. One of the most notable currencies to weaken against the US dollar is the Japanese yen.
The USD/JPY pair has risen, forming a series of higher highs. The recent movement highlights three key levels to watch closely.
The...
The United States and China reached a significant trade agreement on May 12, 2025, following high-level negotiations in Geneva. The agreement establishes a 90-day truce in the ongoing trade dispute, during which both countries have committed to significantly lowering tariffs on each other’s goods.
The U.S. reduced its tariff from 145% to 30%, while China cut its...
After trending upward since early 2025 on a weaker dollar, EUR/USD saw a notable pullback this week. For the first time, we can technically say that the uptrend has ended. But what are the reasons?
The price dropped below the 1.12640 level, which represents the most recent higher low recorded by the market, and closed the day below it, forming a new low. This...
The king of crypto, Bitcoin (BTC), extended its winning streak into Thursday, marking three consecutive days of gains. This surge has been largely attributed to a weaker U.S. dollar, the establishment of the U.S. strategic Bitcoin reserve and accumulation of large amount by investors and an overall risk-on sentiment prevailing in global markets, which has buoyed...
