The Japanese yen (JPY) is declining against its U.S. counterpart at the start of a critical week and is pulling back from part of Friday's strong upward move to the highest level since Oct. 21. US Treasury yields are recovering amid US President-elect Donald Trump's reaction to the threat of 100 percent tariffs on BRICS countries. This, in turn, is helping to...
Event to pay attention to today: 13:00 EET. GBP - BOE Governor Andrew Bailey Speaks GBPUSD: The GBP/USD currency pair had a quiet session on Thursday, with trading activity on the thin side and the pair holding near the 1.27000 mark. US markets were closed on Thursday due to the Thanksgiving holiday, and Friday will also see reduced trading hours in the US,...
EUR/USD was supported in the market on Wednesday, taking the pair on a new course towards 1.0600 in the middle of the weekly trading session. The bullish bounce in the market was mainly due to investors taking a step away from recent dollar buying pressure, rather than any intrinsic strength in the euro itself. Wednesday's data list included a wide range of U.S....
The Japanese Yen (JPY) continues to attract some safe haven flows amid tariff threats from US President-elect Donald Trump. In addition, the recent pullback in US Treasury yields following the appointment of Scott Bessent as US Treasury Secretary and expectations that he will rein in the budget deficit provides further support for the low-yielding JPY. This, along...
Event to pay attention to today: 21:00 EET. USD - FOMC Meeting Minutes GBPUSD: The GBP/USD is making small gains throughout the day, but is unable to regain the 1.26000 technical level. Market flows are not providing the necessary strength to support the Pound. The UK economic calendar is relatively inactive this week. Fresh US inflation data on Wednesday...
The US Dollar may strengthen as the latest US PMI data reinforces the likelihood that the Fed will slow the pace of rate cuts. The Euro faced challenges as the latest HCOB PMI data pointed to continued weakness in Eurozone business activity. EUR/USD recovered from the two-year low of 1.0332 recorded on Friday and traded near 1.0480 during Monday's Asian session....
According to a survey of economists by Reuters, the U.S. is considering imposing nearly 40% tariffs on Chinese imports early next year. Such measures could slow the growth of the world’s second-largest economy by 1%. Economists polled by the publication, both Democrats and Republicans, believe these changes will trigger massive disruptions in the U.S. and global...
Higher market sentiment and rising US bond yields are limiting the rise of the low-yielding yen. The US Dollar is holding near its highest level in the last year and is providing support to the USD/JPY pair. The Japanese Yen (JPY) attracted buying for the second day in a row following the release of slightly better-than-expected Japanese consumer inflation...
The GBP/USD pair declined to 1.26500 during Asian trading on Thursday. This decline can be attributed to the weakening of the US dollar (USD). The US Dollar Index (DXY), which measures the value of the dollar against six major peers, is holding near 106.50 at the time of writing. However, downside risk to the US Dollar may be limited due to cautious remarks from...
Event to pay attention to today: 15:00 EET. EUR - ECB President Christine Lagarde Speaks EURUSD: On Tuesday, the EUR/USD was trading between the 1.0550 and 1.06000 levels. It tested the lower boundary but then recovered, adding just 0.14% for the day. The final data on EU Harmonised Index of Consumer Prices (HICP) inflation had little impact on market...
The Japanese yen (JPY) rose against its US counterpart during Tuesday's Asian session, although it lacked bullish confidence amid uncertainty over the timing of the Bank of Japan's (BoJ) next interest rate hike. In addition to this, risk-on sentiment reflected in the overall positive tone in the equity markets may be contributing to the safe-haven yen's decline....
The Pound-Dollar pair starts the new week on a subdued note and is consolidating in a range above the round 1.26000 mark, or the lowest level since mid-May, reached on Friday. For now, spot prices appear to have broken a six-day losing streak on the back of a modest decline in the US Dollar, although the fundamental backdrop supports the prospects for an extension...
The Japanese Yen (JPY) extended its losing streak against the US Dollar (USD) for the fifth consecutive session following the release of Japan's Q3 Gross Domestic Product (GDP) data on Friday. The USD/JPY pair's upside potential is supported by a strong US Dollar (USD). Traders are also preparing for the release of US retail sales data for October, due later on...
GBP/USD extends its decline to 1.26850 in Asian trading hours on Thursday. The US dollar (USD) rally to the highest level since November 2023 is putting pressure on the major pair. Later on Thursday, Bank of England (BoE) Governor Andrew Bailey will deliver a speech. Data released by the US Department of Labor Statistics on Wednesday showed that the US Consumer...
The Euro-dollar pair remains under pressure on Wednesday, holding just above the 1.06000 level during Asian trading hours. This will mark the fourth consecutive day of losses for the Euro as the pair continues to experience downward momentum. The main factor contributing to the recent EUR/USD weakness is the strength of the US Dollar (USD). The implementation of...
The Japanese Yen (JPY) managed to strengthen slightly against its US counterpart in Tuesday's Asian session, but looks like it could weaken further. Japan's fragile minority government is expected to make it difficult for the Bank of Japan (BoJ) to tighten monetary policy. Moreover, the BoJ's summary of opinions from its October meeting showed that policymakers...
The GBP/USD pair starts the new week on a softer note, although it fails to find continued selling and remains range-bound around the 1.29000 mark amid mixed fundamentals. The US Dollar (USD) is holding below the four-month high reached last week amid expectations that US President-elect Donald Trump's policies will spur inflation and limit the Federal Reserve's...
Events to pay attention to today: 17:00 EET. USD - UoM Consumer Sentiment 18:00 EET. USD - FOMC Member Michelle W. Bowman Speaks EURUSD: The EUR/USD exchange rate is declining towards 1.07800 due to increased demand for the US dollar during Asian trading hours on Friday. Furthermore, the prospect of increased tariffs under the Trump administration is...