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The dollar headed higher against most rival currencies on Friday, lifted by rising U.S. Treasury yields, which came on the back of a rally in commodity prices that has pushed up inflation expectations.The pound continued to slide after hints from Bank of England Governor Mark Carney that the U.K. central bank may...

The euro settled above the $1.23 line on Friday and is poised for its smallest week of gains in 10 months as investors marked time before a European Central Bank meeting next week where policymakers might shed some clues on removing policy stimulus.

The critical 1.2425 resistance indicated in recent updates remains intact as EUR staged a relatively sharp decline yesterday after touching a high of 1.2400. While the ‘key support’ at 1.2310 is still intact (overnight low of 1.2327), the weak daily closing in NY is enough to indicate that the recent mild upward pressure has eased (we previously expected the short-term strength to extend further to 1.2425). However...

The Antipodeans also suffered from broad-based USD strength, as the yield differential favored the buck amid upbeat US fundamentals and...

The USD/JPY is trading at around 107.41 on Thursday up 0.17% as the US dollar bulls unexpectedly came out of the closet in late European session driven by higher bond yields.

Strategists at Scotiabank remain neutral bearish on the pair in the short-term, allowing for a potential visit to the 1.2550/00 area.

Sterling on Thursday fell after disappointing UK retail sales data added to concerns about how many interest rate hikes the Bank of England will pursue this year. The pound, among the best-performing G10 currencies this year, rose to a fresh post-Brexit vote high this week but is now down for the week after...

The pair keeps the familiar weekly range so far on Thursday, hovering over the 1.2360 region and trading at...

There is no change to the view as EUR subsequently hit a high of 1.2413 before easing off. As long as the ‘key support’ at 1.2310 is intact, we continue to see chance for another push higher towards 1.2425. As noted previously, this is a rather critical resistance as a...

As a result, both the Antipodeans erased losses and jumped back into the bids, with the Aussie having emerged the strongest. The AUD bulls regained the 0.78 handle, benefiting from risk-on that negated the impact of dismal Australian jobs data. Meanwhile, the Kiwi maintained a...

The NZD/USD is trading at around 0.7330 down 0.18% after the bears tried to test the 0.7300 handle earlier in the European session but failed to break below the level.

A wave of selling pressure is now hitting the Canadian Dollar, lifting USD/CAD to the area of fresh 2-day tops beyond 1.2600 the figure following the steady stance from the BoC.

The prevailing sentiment among traders continue to favour the demand for riskier assets today in detriment of the safe haven JPY and remains the...

The U.S. dollar rose on Wednesday from a three-week low after trade war concerns waned and firm U.S. economic data boosted the greenback against the yen and ushered in renewed risk appetite. U.S. markets were buoyed by strong corporate earnings and that helped European equities on Wednesday as investors focused on...

We highlighted yesterday that “while upward momentum is still not as strong as preferred, the current short-term strength has scope to extend further to the next resistance at 1.2425”. There is no change to the view as EUR subsequently hit a high of 1.2413 before easing off.

Meanwhile, the Antipodeans traded better offered in absence of the first-tier macro news from both the OZ economies. However, the downside was capped by positive oil prices and persisting risk-on market profile. Both, the EUR and GBP remained mildly bid ahead of the...

We have held the same view since last Friday (13 Apr, 1.2325) wherein we “continue to see chance for a move higher towards 1.2400 even though upward momentum has been dented”. In line with expectation, EUR rose yesterday and hit a high of...

EUR/USD is almost unchanged in the Tuesday session. Currently, the pair is trading at 1.2369, down 0.03% on the day. This is the pair’s highest level since the end of March. On the release front, German ZEW Economic Sentiment surprised the markets with a sharp drop of 8.2 points.

The pair is looking to record its fourth consecutive daily advance today, extending the up move from yearly lows in the mid-0.7600s seen in late March. The correction higher, however, appears to have run out of...

Today sees Average Earnings both with an without bonuses, forecast at 3.0 and 2.8 percent respectively, compared to the previous readings of 2.8 percent and 2.6 respectively. Also on the docket and...

Forex Today witnessed a quiet Asian affair, with mild risk-on prevalent amid higher Asian equities, oil prices and Treasury yields. However, the Yen defended minor bids across the board amid ongoing developments surrounding Syria while gold prices traded on the back foot.

EUR traded in a relatively narrow 1.2305/1.2346 range last Friday before ending the day little changed. We continue to see chance for a move higher towards 1.2400 even though lackluster upward momentum suggests that a sustained break above this level is unlikely (there is another strong resistance at 1.2425). On the downside...

The selling pressure around the greenback is now picking up the further pace and is lifting GBP/USD to fresh daily highs above 1.4300 the figure.

EUR longs have risen back to levels last seen in late January. Hawkish remarks from an ECB official prompted some...

WTI (oil futures on NYMEX) is seen attempting a tepid recovery from just ahead of the $ 66 threshold, after having run into strong offers near $ 66.85 on the European open, as broad-based US dollar weakness offers some respite to the bulls.

There were three targets hit over the weekend, in a decision lead by the US president, Donald Trump, with backing from the UK and France. More than...

The currency last week weakened to the bottom of its trading band against the U.S. dollar, leading Hong Kong’s monetary authority to try to bolster it by selling $1.23 billion in U.S. dollars to...

The EURUSD remained confined in a narrow trading range for the last two weeks. What do the charts tell us technically as we prepare for the new week. Of course the strike on Syria will have some sort of reaction on the opening. Does it kick the pair out of...

The buyers in the USDJPY are desperately trying to jump start the pair higher after the trend like move lower into the March low. How successful are the buyers? Well, it is a start and...

The S&P 500 Index fell by 7.69 points or 0.3% to 2,656.30 and registered a 2% gain on the week.The Dow Jones Industrial Average dropped 122.91 points or 0.5% to 24,360.14, however, it closed the week 1.8% higher while the Nasdaq lost 33.60 points or 0.5% to 7,106.65 and closed the week with a 2.8% increase.

The AUD/USD is trading at 0.7767 up 0.16% on Friday as the second week of April is coming to an end. The Australian dollar gained as much as 150 pips over the last days as earlier in the week Chinese President Xi Jinping said that he intended to open up its economy...

Sterling rose to a new 10-week high against the dollar on Friday and pulled itself out of a six-month trading range against the euro, prompting investors to unwind their long euro positions.

The US dollar lost against most majors even if it appreciated against safe haven currencies on Friday. The Syrian conflict concerns faded at the end of the week and boosted the USD versus the JPY and the CHF. The release of the meeting notes from the March Federal Open Market Committee (FOMC) proved to be a positive for...

The GBP/JPY has lost about 80 pips from session’s highs as the GBP/USD is testing the 2018 high. GBP/JPY is now trading at around 153.13 up 0.29% on Friday.

The pair is expected to continue its sideline pattern for the time being, according to FX Strategists at UOB Group.

EUR/USD has ticked higher in the Friday session. Currently, the pair is trading at 1.2339, up 0.10% on the day. On the release front, German Final CPI edged lower to 0.4%, matching the estimate. The US will release UoM Consumer Sentiment, which is expected to drop to 100.6 points.

The dollar climbed to a six-week high against the yen on Friday as caution over a Western military intervention in Syria abated and investors looked to anticipated strong U.S. corporate earnings.

The release of ECB’s minutes yesterday sent EUR tumbling to a low of 1.2298. The ‘key support’ highlighted at 1.2280 in recent updates is still intact and as long as this level is not taken out, we continue to see chance for EUR to stage another attempt to move clearly above 1.2400. However, upward pressure has...

China’s trade balance swung to a deficit of $4.98 billion in March from a $33.7 billion surplus in the previous month. Economists polled by The Wall Street Journal had expected a...

EUR/GBP has slid down to test the 100 weekly SMA, losing the 0.87 handle. Currently, EUR/GBP is trading at 0.8661, down -0.71% on the day, having posted a daily high at 0.8730 and low at 0.8643.

The GBP/JPY is trading at about 152.47 up 0.75% as it is trading at weekly highs.

Gold futures pulled back in Thursday trading after the haven metal ended Wednesday at its highest level in roughly 2 1/2 months, boosted by geopolitical tensions. Federal Reserve meeting minutes released after gold’s close Wednesday signaled dedication to higher rates at the U.S. central bank, pressuring metals prices...

The dollar held near a two-week low on Thursday against a basket of currencies as investors remained cautious over possible Western military action against Syria, while the euro was also steady before minutes of the ECB’s March meeting...

The pair’s momentum keep looking to the risk appetite trend for direction, particularly after renewed risk aversion in light of the likely US military action in Syria, involving Russia at the...

Despite risk-aversion, the US dollar managed to regain ground across its main competitors, as the FOMC March meeting minutes showed a more hawkish bias, with the Committee’s upbeat outlook on inflation. As a result, USD/JPY remained...

USD/JPY is trading at around 106.75 down 0.42% on Wednesday as the hostilities in the Middle-East intensify.

The GBP/USD pair extended its retracement slide from over 2-week tops and refreshed session lows in the last hour, albeit quickly recovered few pips thereafter.

Sterling trimmed gains on Wednesday after British manufacturing output fell unexpectedly in February, its first drop in almost a year, adding to signs the economy may have slowed in the first quarter.

After briefly testing 2-week tops in the boundaries of 1.2390, EUR/USDhas now retraced part of that advance and returns to the 1.2370/65 band. Spot is looking to extend the ongoing strong recovery from the 1.2200 neighbourhood, although gains appear so far...

The greenback, measured by the US Dollar Index (DXY), is accelerating the weekly leg lower and is flirting with fresh weekly lows around 89.40. The index is retreating for the fourth consecutive session on Wednesday amidst alleviated concerns over the US-China trade dispute, a continuation of...

Forex today experienced an eventful Asian session, however, mixed macro news from the Asia-pac regions left markets slightly nervous. The Japanese Yen bounced against its American counterpart amid better Japan’s Core Machinery Orders data and moderate risk-aversion.

In recent updates, we expected EUR to “remain on the back foot unless it can move above 1.2350”. The recent weak undertone is beginning to stabilize as EUR staged a robust recovery from last Friday’s 1.2212 low.

Prices of the barrel of the American benchmark for the sweet light crude oil are extending the weekly up move and are approaching the critical $65.00 mark.

Ewald Nowotny, European Central Bank (ECB) Governing Council member and the Austrian Central Bank Head, is out on the wires, via Reuters, saying that the ECB will end asset buys this year but it was too early to say when interest rate hikes will begin.

The Canadian Dollar is extending the upbeat momentum during the first half of the week vs. its American neighbor, taking USD/CAD to fresh lows in sub-1.2700 levels.

FX Strategists at UOB Group noted the pair’s potential for extra pullbacks appears diminished in the near term.

Oil prices traded higher on Monday, set to recover much of what they lost last week, even as U.S.-China tensions lingered and rig activity in the U.S. pointed to production growth. On the New York Mercantile Exchange, May West Texas Intermediate crude CLK8, +2.14% rose $1.34, or 2.2%, to $63.40 a barrel. June Brent crude LCOM8, +2.21% the global benchmark, was up...

Despite the surprisingly strong rebound in GBP last Friday, we continue to view the price action as part of a ‘sideway trading’ phase. That said, the previously expected 1.3935/1.4100 consolidation range is probably too narrow and from here, a wider 1.3935/1.4160 range appears to be more representational of...

The pair built on Friday's strong rebound from sub-1.4000 level, closer to 3-week tops, and finally moved past the 1.4100 handle following the release of stronger-than-expected Halifax UK HPI. The index came in to show a rise of 1.5% in March, marking the...

The cross continued gaining traction at the start of a new trading week and held in positive territory for the fifth consecutive session. A slight improvement in investors' appetite for riskier assets, as depicted by...

Moreover, rising Treasury yields amid the divergent monetary policy outlooks between the Fed and ECB, with attention shifting towards this Wednesday’s FOMC minutes, also keep the recovery in check. Additionally, the funding currency, the EUR, tends to...

Amongst the Asia-pac currencies, the Kiwi was the top gainer, closing out NZD shorts ahead of the key China data and FOMC minutes due this week. Meanwhile, the Aussie also held on to mild gains and neared the...

Gold futures on Friday logged a daily and weekly advance on the back of U.S.-China trade-war jitters, which flared up late Thursday and roiled global stocks, driving investors into assets perceived as havens. A mostly lackluster U.S. employment reading for the March, which nicked the dollar index and...

The US dollar is mixed against major pairs after the U.S. non farm payrolls (NFP) headline jobs number failed to meet expectations. The US added 103,000 jobs short of the 193,000 jobs forecast. Wage growth came in as anticipated at...

USD/JPY printed a fresh daily low under 107.00. The pair has been moving to the downside since the release of the US employment report and accelerated during the last hours amid a decline in US stocks.

According to FX Strategists at Scotiabank, the pair appears to have found solid support in the low-1.2200s.

Federal Reserve Chairman Jerome Powell is expected on Friday to defend the central bank’s consensus that a gradual rate hike path this year remains appropriate despite a lot of chatter about the risk of an overheated economy from luminaries like his predecessor, Janet Yellen, and JPMorgan Chase’s Jamie Dimon.

Since Britain signed a transition agreement last month for exiting the European Union, concerns about Brexit have abated as investors focus on the state of the UK economy before an expected interest rate rise in May.

The USD/JPY pair struggled to build on its intraday rebound from the 107.00 handle and was now seen oscillating in a range just below mid-107.00s, over 1-month tops.

After a brief stint higher in the overnight trades, the GBP/USD pair fell back in the red zone, as the bulls failed to sustain above the 1.40 handle amid a renewed risk-aversion wave triggered by fresh US-China trade threats.

Gold futures traded lower on Thursday, while the dollar strengthened and stocks extended Wednesday’s late-day revival, as concerns about a trade clash between the U.S. and China calmed.

The USD/CAD pair faded a bullish spike to the 1.2800 handle and quickly retreated around 30-35 pips from session tops.

The pair staged a rebound from lows around 1.2250.DXY is now coming under pressure after testing tops near 90.30. After bottoming out in the mid-1.2200s earlier in the session, a now softer tone around the greenback is allowing EUR/USD to rebound to the 1.2270/75 band.

Investors have kept an eye out for any wider fallout from a Sino-U.S. trade dispute, after Beijing on Wednesday proposed tariffs on U.S. imports including soybeans, planes, cars, beef and chemicals. The yen, often sought in times of market turmoil and political tensions, had rallied as U.S. shares tumbled on Wednesday after China imposed retaliatory tariffs on U.S. goods.

The GBP/USD pair once again met with some fresh supply near the 1.4100 handle and retreated around 50-pips from session tops. Bulls struggled to maintain their dominant position, with a modest US Dollar rebound, amid easing US-China trade tensions, prompting some fresh selling near the 1.4100 supply zone.

Weakened undertone increases risk of a deeper pull-back. No change in view.We have held a neutral stance for about a month now and since then; EUR has been trading within a relatively narrow 1.2237/1.2476 range.

The AUD/JPY is trading at around 82.20 up 0.33% on Wednesday as investors are momentarily shrugging-off trade war fears and selling the Japanese yen which is seen as a safe-haven in times of market fears.

The GBP/USD pair quickly reversed an early NA session fall to 1.4015 level and has now recovered around 60-65 pips from session lows.

The British Pound started losing ground after data released on Wednesday showed activity in the UK construction sector unexpected dropped into contraction territory, with the Markit UK construction PMI coming in at...

The dollar eased against the yen on Wednesday, with the outlook clouded by worries that escalating U.S.-China trade tensions could exert a toll on the global economy and U.S. growth. The dollar fell 0.1 percent to 106.50 yen, giving back some of the...

We have held a neutral stance for about a month now and since then; EUR has been trading within a relatively narrow 1.2237/1.2476 range. That said, shorter-term price action has been erratic and the...

After an initial uptick to 1.2335 area, the EUR/USD pair met with some fresh supply and dropped to near two-week lows during the early NA session. The pair finally broke down from its 3-day old trading range and retreated farther below the 1.2300 handle.

The dollar fell on Tuesday on concerns about U.S.-China trade tensions, although foreign exchange markets were largely unmoved and shrugged off what the dispute could mean for global growth.Equity markets in the United States sold off heavily on Monday as investors fled technology shares and...

The pair extended overnight rejection slide from the 1.2940-50 heavy supply zone and was now being weighed down by some renewed US Dollar weakness, led by reviving worries over a...

No change in view.The recent erratic price action has resulted in a mixed outlook. Indicators are mostly ‘flat’ and at this stage, there is no early indication that EUR is ready to embark on a sustained directional move. In other words, the month-long neutral phase is...

Forex today was a quiet affair in Asia this RBA Tuesday, with risk-aversion back in vogue amid the re-emergence of the US-China trade war fears after China retaliated to the US tariffs. Despite persisting risk-off flows, most higher-yielding assets were...

The Aussie remains among the weakest currencies across the FX board, as early USD weakness saw the pair barely advancing up to 0.7694, while a resurgent greenback after the US opening pushed the pair near the 2018 low set last week at 0.7642.

The USD/JPY is trading at around 106.19 slightly lower on Easter Monday as the market is driven by sentiment and renewed fears of trade wars between the US and China. The Asian superpower said earlier on Monday that it imposes trade tariffs on pork and fruits from the United States.

The pair is flirting with recent lows in the 1.2875/70 band on Monday following a softer tone surrounding the greenback and a bid bias around crude oil prices.

The dollar held steady against the yen on Monday, taking a breather after last week’s rally and as it treads cautiously amid lingering concerns over a U.S.-China trade spat.The U.S. currency had risen against the yen last week, helped by signs China and the United States were working behind the scenes to avoid a full-blown trade war, and...

After an initial uptick to 0.8785 level, the EUR/GBP cross came under some selling pressure and retreated back to Friday's low. The cross continued with its struggled to build on its recent recovery move from near 9-month lows, set on March 22 and...

The recent erratic price action has resulted in a mixed outlook. Indicators are mostly ‘flat’ and at this stage, there is no early indication that EUR is ready to embark on a sustained directional move. In other words, the month-long neutral phase is intact and we expect EUR to continue to trade choppily within...

The GBPUSD's low came in at 1.3711 on the very first day of the trading month (on March 1). The price high peaked on Monday and Tuesday at 1.4244. After peaking on Tuesday, March 26th, the price closed lower on Tuesday, Wednesday, and Thursday.

For the best part of 24-months, equity markets have rallied steadily, matching the longest winning streak ever without a correction. That period ended abruptly in February when global stock indices tumbled into a correction brought on by worries about higher interest rates and exacerbated by complacency and a new threat of ‘trade wars.’

The US dollar gained against major pairs thanks to strong economic indicators and the end of month and quarter flows. The greenback had a positive week ahead of the easter holiday. The first week of April will kick off with a plethora of US economic data, the most important of all...

The dollar stalled against its peers on Friday as the recovery is seen earlier this week petered out ahead of the new quarter, which could potentially bring renewed pressure on the greenback.

The USD/CAD pair has managed to recover early lost ground to a three-day-old trading range support and is now looking to move back above the 1.2900 handle.

German inflation increased in March by 0.4%, just shy of the estimate of 0.5%. On an annual basis, German inflation stands at 1.5%, shy of the ECB target of around 2%, but high enough to warrant discussions about a change in the ECB’s monetary policy. Eurozone inflation stands at...

The USD/CAD pair broke down of its Asian session consolidation phase and dropped back to the three-day-old trading range support near the 1.2865-60 region. The pair sudden fall of around 30-pips over the past hour or so lacked any fundamental trigger and...

The pair stalled this corrective slide from near 2-month tops and managed to defend the key 1.40 psychological mark on the back of a subdued US Dollar price action, which forced traders to lighten their...