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Forex Today witnessed a major turnaround in the risk sentiment in Tuesday’s Asian trading, in response to the latest report that China’s Vice Premier is heading to the US soon to bring out a resolution on the US-China trade talks. Markets believed this move by China could pave...

The US dollar rose against most major pairs on Friday. Only the Japanese yen was able to gain against the mighty greenback. The FOMC statement eased concerns that the Fed would hint at a pause in its tightening of monetary policy. The lack of changes, and given that there was no...

The selling bias around the British Pound remains well and sound during the second half of the week, although some decent contention turned up in the sub-1.30 area for GBP/USD, session lows. GBP/USD looks to Brexit headlines for direction...

The USD/JPY pair traded with a mild negative bias through the Asian session on Friday and eroded a part of previous session strong up-move to five-week tops. Resurgent US Dollar demand on Thursday helped the pair to build on the previous session's goodish rebound from...

The recovery in the cross met strong resistance in the boundaries of the key 200-day SMA at 130.2, provoking failure and the ongoing knee-jerk after five consecutive daily advances. Immediate target on the upside remains ...

Forex today in Asia was characterised by minimal volatility and tight trading ranges, as the dust settled over the US mid-term elections aftermath. The US dollar staged a solid comeback across its major rivals, having almost reversed a Democrats win induced sell-off seen a day before...

Crude oil is trading in a strong bear trend below the 50, 100 and 200-period simple moving average on the 4-hour chart. In reaction to the EIA data, oil lost almost $1 in a few minutes...

Analysts at National Bank Financial, suggest that today’s Fed rate setting meeting will be held on the heel of a month characterised by both global and domestic stock market weakness, which has contributed to some tightening of ...

EUR/USD: Neutral : Immediate bias is for EUR to probe the top of the expected 1.1330/1.1490 consolidation range; GBP/USD: Neutral: Rebound could extend further but a break of 1.3190 would be surprising; AUD/USD: Neutral : Scope for AUD to test the key and critical 0.7260 resistance...

Gold reversed an early dip to sub-$1230 level and is now holding with modest daily gains, recovering the downtick witnessed over the past two trading sessions. The prevalent cautious mood across global financial markets, ahead of the US midterm elections, turned out to...

Forex today in Asia was a quiet affair today, with most majors sticking to tight trading ranges, as the investors trade with caution in the run up to the US mid-term elections showdown later on Tuesday. The US dollar traded on the front against its major rivals, but the bulls...

EUR/USD: Immediate bias is for EUR to probe the top of the expected 1.1330/1.1490 consolidation range.;GBP/USD: Rebound in GBP has room to extend higher to 1.3100; AUD/USD: Scope for AUD to test the key and critical 0.7260 resistance...

The overnight Brexit deal rhetoric prompted a bullish opening gap in the Cable, as the pound bounced to 2-week highs to near 1.3050 level vs. the greenback. The opening jump was quickly reversed and the spot gave up the...

The dollar is higher against major pairs on Friday after the release of the October U.S. non farm payrolls (NFP) report showed a massive 250,000 jobs gain and the fastest wage growth pace since 2009. US fundamentals have been solid and boosted the US dollar higher despite...

The USD/JPY pair struggled to build on its intraday positive move and quickly retreated over 25-pips from session high level of 113.10. The pair stalled this week's retracement slide from over...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): Negative phase has ended; immediate bias is for EUR to probe the top of the expected 1.1330/1.1490 consolidation range.GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): Rebound in GBP has room to extend higher to 1.3100...

Gold staged a solid rebound on Thursday and reversed the previous session’s entire downfall to three-week lows. The commodity stalled its recent corrective slide from over...

EUR/USD: Neutral: EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high; GBP/USD: Neutral -Negative phase has ended, GBP has moved into a correction phase...

UK Brexit Secretary Dominic Raab says a Brexit deal is due by November 21st. The GBP/USD is reacting positively and it jumped above 1.2800. The high so far was 1.2830.

EUR/USD has ticked lower on Wednesday, after posting losses in the past two sessions. Currently, the pair is trading at 1.1334, down 0.10% on the day. On the release front, German retail sales posted a gain of 0.1%, missing the...

Bank of Italy Governor and ECB governing council member Ignazio Visco was out on the wires in the last hour, commenting on Italy's debt situation and said: Italy cannot narrow the growth gap with EU with higher spending...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): More than even odds for a break of 1.2662 year’s low...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): GBP is searching and possibly close to making a short-term bottom...

EUR/USD remains directly offered below the 20 day ma at 1.1482. There is scope for a retest of the 1.1315 200 week ma and 1.1301 recent low. This is expected to hold the down side.

Forex Today saw a major turnaround in tandem with the risk sentiment, as the US President Trump’s optimistic comments offered a fresh breath of life in the Asian markets. The Asian equities staged a comeback, led by China stocks and lift the demand for...

Forex Today witnessed two-way business in Asia on the first trading day of the week, with the risks sentiment driving the market sentiment amid a sell-off in the Chinese stocks, as China slowdown fears begin to bite again. Amidst risk-aversion, the US dollar traded well bid across the...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): GBP is searching and possibly close to making a short-term bottom...

The US dollar was lower against most major pairs on Friday. The greenback dropped as investors flocked to safe havens away from the US currency. Trade war concerns and its impact on US companies have triggered a massive sell off in equities. The US dollar is on the back foot despite...

USD/CAD is trading in a bull trend above the 200-period simple moving average. USD/CAD found strong resistance at the 1.3150 resistance as the market is reversing sharply.

Gold is trading in a bull trend above the 200-period simple moving average. Gold broke above 1,237.60 (July 3 swing low) as technical indicator suggest more upside. The next levels for bulls to reach are likely located near 1,250.00 figure and 1,265.90 July high.

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. We highlighted yesterday, there is “ample room for EUR to weaken further to 1.1350”. EUR staged a minor bounce after ECB’s...

Forex Today experienced re-emergence of the risk-off sentiment in Asia this Friday, as the Yuan’s weakness added to ongoing market woes and dragged the risk assets sharply lower. The Asian equities and the US indices futures stalled the bounce and resumed the recent...

The EUR/JPY cross held on to its modest recovery gains, just above the 128.00 handle, and had a rather muted reaction to the latest ECB decision.The cross moved little after the ECB, at the October meeting, the reaffirmed to wind down its bond-purchase program by the end of this year and leave interest rates unchanged at least until next summer.

The pair has been trending lower along a short-term descending channel on the hourly chart and now seems to have stabilized near the 1.1400 handle, just above the trend channel support.Meanwhile, the fact that the pair remains well below important...

Gold reversed an early uptick back closer to over three-month tops and drifted into negative territory during the early European session.The overnight slump in the US equity markets had a spill-over effect on the Asian equity markets and underpinned the precious metal's safe-haven status at the start of Thursday's trading session.

The USD/JPY pair has managed to recover a major part of its early decline to over one-week lows and was now seen building on the momentum further beyond the 112.00 handle.The pair extended this week's retracement slide from the vicinity of the 113.00 handle and kept losing ground for the third consecutive session. The spill-over effect of the overnight rout in the US equities to the Asian markets on Thursday was seen underpinning the Japanese Yen's safe-haven appeal and eventually weighing on the major.

The pair kept losing ground through the mid-European session and is currently placed near the lower end of a short-term descending trend-channel, held over the past one-week or so.The fact that the pair remains well below important intraday moving averages - 50, 100 & 200-hour SMA, points to an extension of the ongoing bearish trajectory.

The GBP/JPY cross remained under some heavy selling pressure for the third consecutive session on Wednesday and dropped to fresh six-week lows in the last hour.Market expectations that the UK PM Theresa May will not accept the rumored EU offer of a UK-wide customs union as a way around the Irish backstop issue prompted some fresh selling around the British Pound.

The USD/CAD pair caught a fresh bid-wave and embarked upon a steady recovery mode to regain the 1.31 handle before meeting fresh supply at the last, as the bulls await the BOC monetary policy decision for the next push higher.The latest leg higher in the spot can be attributed to resurgent US dollar demand, mainly driven by a sell-off in the EUR and the GBP, in the wake of the European political woes. Moreover, markets prefer to hold the safe-haven US dollar in times of softer risk sentiment.

The AUD/USD pair surrendered early modest gains to levels beyond the 0.7100 handle and is currently placed at the lower end of its daily trading range. The pair built on previous session's late rebound from 1-1/2 week lows, with a combination of positive factors helping gains traction for the second consecutive session on Wednesday.

The pair struggled to build on overnight goodish rebound and was now seen retracing from an important horizontal resistance, near the 112.65 region.The pair now seems to be in the process of forming a bearish Head & Shoulders chart pattern on the 1-hourly chart, with neck-line support near the 111.95 region.

Gold extended its sideways price action on Wednesday and remained confined in a narrow trading range below $1235 level.After yesterday's strong upsurge to over three-month tops, and a subsequent retracement, the precious metal now seems to have entered a consolidation phase and was seen oscillating in a narrow trading range amid a combination of diverging forces.

After printing fresh daily tops in the boundaries of 1.1490, EUR/USD has now come under renewed selling pressure and is gyrating around the 1.1460 region.The pair clinched fresh session highs near 1.1490 in early trade following some selling pressure hitting the greenback along with declining US yields.

The Canadian dollar is trading sideways on Tuesday. Currently, USD/CAD is trading at 1.3106, up 0.04% on the day. On the release front, there are no Canadian events. In the U.S, the Richmond Manufacturing Index is expected to drop to 25 points. On Wednesday, the Bank of Canada is expected to raise the benchmark rate to 1.75%.

The US Dollar Index (DXY), which gauges the greenback vs. its main rivals, has faded another test of the 96.15/20 band and is now navigating the sub-96.00 area.

Spot remains under pressure and navigates the lower end of the recent range and close to October’s low at 1.1432.

Analysts at Deutsche Bank point out that yesterday, the British Pound had its worst day in a month, dropping around -0.85% versus the dollar as Brexit negotiations continued and Prime Minister May faced down the conflicting flanks of her governing coalition.

In light of CME Group’s preliminary data for GBP futures markets, investors added more than 5K contracts to their open interest positions at the beginning of the week vs. Friday’s final 216,471 contracts. On the other hand, volume dropped for the second session in a row by around 5.7K contracts.

The GBP/USD pair extended its intraday retracement slide from 100-day SMA and has now erased all of Friday's goodish rebound from two-week lows. The pair's early European session uptick quickly ran out of steam ahead of the 1.3100 handle, with a combination of negative factors prompting some fresh selling at the start of a new trading week.

The pair built on its steady intraday climb from 100-hour SMA support and touched a 1-1/2 week high in the last hour, inching back closer to the 113.00 handle. The pair has been trending higher alongside a bullish channel on the 1-hourly chart, with bulls now eyeing a sustained break through the channel resistance.

London stocks firmed up on Monday, with banks on the move higher and miners getting a lift after China stocks had their best day in more than two years. Sterling weakness was also boosting stocks as investors watched for Brexit updates with Prime Minister Theresa May is due to make a statement to the House of Commons on Monday.

The bears fought back control in the European session, knocking-off the GBP/USD pair to fresh session lows below the 0.7050 level, as markets turn anxious amidst calls for a no-confidence motion to be tabled against the UK PM Theresa May.

The US dollar was mixed on Friday. Investor’s appetite for risk rose and safe haven currencies (JPY and CHF) fell while positive China and Brexit news saw the NZD, EUR, GBP and AUD advance against the USD. The Canadian dollar was dragged down in the last ...

Gold quickly reversed an early European session dip to $1223 area and is currently placed at the top end of its daily trading range, just above 100-day EMA. The US Dollar failed to build on/preserve early gains to fresh multi-week tops and was seen as one of the key factors underpinning the dollar-denominated commodity. This coupled with a fresh wave of global risk-aversion trade, as depicted by a weaker tone around equity markets boosted the precious metal's safe-haven appeal and remained supportive of the positive move.

“EUR/GBP continues to recover off the .8723 Fibonacci retracement which guards the 8700/.8697 June low.

The soft tone around the European currency triggered a sharp leg lower in the cross, forcing it to drop as low as the 128.30 area, or multi-week lows, on Thursday.

A fresh leg of a selloff in the US equity markets on Thursday benefitted the Japanese Yen's safe-haven status and prompted some aggressive selling around the major. The global flight to safety, reinforced by a sudden drop in the US Treasury bond yields, was seen as one of the key factors behind the pair's sharp intraday retracement of nearly 90-pips from a one-week high level of 112.73.

EUR/USD continues to grind lower this week, accelerating the downside to the mid-1.1400s after break below the critical support at 1.1500 the figure.

The GBP/USD pair struggled to build on its intraday recovery move from over one-week lows and is currently placed in neutral territory, just above the 1.3100 handle. The pair, for the second time this week, showed some resilience below ...

Major currencies were once again trading in tight ranges ahead of U.S. economic data, as investors digested the Treasury’s report on foreign exchange practices and Wednesday’s Federal Reserve meeting minutes. The Treasury refrained from labeling China a currency manipulator...

After bottoming out in the 1.1480 region during early trade, EUR/USD met dip-buyers and regained the 1.1500 barrier and beyond. Fresh USD-sellers appeared around the 95.80 region earlier in the day and prompted the current rebound in spot to the...

US Dollar Index looks to data. The upside momentum in the index gathered extra oxygen as of late after the FOMC minutes signaled on Wednesday that further tightening remains well on the cards by the Federal Reserve. In addition, the minutes discarded

Spot is coming under further selling pressure so far this week, breaking below the key support at 1.1500 the figure and opening the door for a potential text of 2018 lows at 1.1299.

USD/JPY is consolidating after the recent 280-pip drop. USD/JPY bulls will need to overcome the 200-period simple moving average or else a small pullback towards 112.00 can be on the cards. The RSI and MACD

EUR/JPY continues to trade in an erratic fashion so far this week, finding support in the 129.00 neighbourhood and with gains capped around the 200-day SMA, today at 130.75. A surpass of the 200-day SMA should open the door for a potential visit to the 21-day SMA just above 131.00 the figure.

Cable is likely to prolong the current consolidative theme in the next weeks, noted FX Strategists at UOB Group.

Gold reversed an early dip to the $1220 area and is currently placed at the top end of its daily trading range, just above $1225 level. The US Dollar failed to build on/preserve early modest gains to the 95.00 neighborhood and was seen as one of the key factors underpinning the dollar-denominated commodity.

Cable continues to look to September’s peak near 1.3300 for the time being.

Gold traded with a mild positive bias on Tuesday and remained within striking distance of 2-1/2 month high, set in the previous session. A combination of positive factors helped the precious metal to build on last week's strong bullish momentum and lifted it to an intraday high level of $1233.30, the highest since July 26.

The buying interest is now picking up pace around the Sterling and is lifting GBP/USD back above the 1.3200 handle, or daily highs.Cable picked up extra pace on Tuesday after UK’s Average Earnings inc. Bonus rose at an annualized 2.7%, surpassing initial estimates. In addition, the jobless rate stayed put at 4.0% in August.

The USD/CAD pair struggled to build on overnight modest rebound from multi-day lows and remained capped below the key 1.30 psychological mark. The pair extended last week's rejection slide from 100-day SMA and was kept losing ground for the third consecutive session on Monday. A combination of factors exerted some heavy downward pressure and dragged the pair to an intraday low level of 1.2955.

The USD/JPY pair caught some fresh bids on Tuesday and recovered a major part of its overnight slide to near one-month lows. With investors looking past previous session's disappointing US monthly retail sales data, the US Dollar regained some positive traction and was seen as one of the key factors driving the pair higher.

We indicated last Friday “the rebound in AUD has scope to extend higher but strong resistance is expected at 0.7155

The AUD/USD pair regained positive traction at the start of a new trading week and has now moved within striking distance of over one-week tops set on Friday. The pair, for the second straight session, managed to find decent buying interest near the 0.7100 handle and was supported by a subdued US Dollar demand. Despite some renewed uptick in the US Treasury bond yields, the USD struggled to build on Friday's up-move/preserve early gains and was seen as one of the key factors driving the pair higher.

The pair has started the week on a positive note so far, leaving behind Friday’s pullback. Initial support emerges at the 10-day SMA in the 1.1530 region, coincident with recent lows. A breakdown of this zone should pave the way for another test of the key support at the 1.1500 neighbourhood.

The cross gapped lower at the start of a new trading week and now seems to have confirmed a bearish breakthrough a near four-week-old trading range.

The USD/JPY pair was now seen weakening farther below the 112.00 handle and dropped to near one-month low in the last hour. After a good two-way price action over the past two-way trading sessions, the pair came under some renewed selling pressure at the start of a new trading week amid a fresh wave of global risk-aversion trade.

The US dollar was higher against major pairs on Friday, but not enough to end up the week on positive territory. A stock market rout took its toll on the greenback and the subsequent rebound in stock prices supported the...

Following yesterday's impressive upsurge, the AUD/USD pair stayed relatively calm in a tight range above 0.71 for the majority of the day on Friday before gaining traction in the last hour. As of writing, the pair was trading at 0.7135, adding 0.15% on the day.

No change. GBP/USD’s outlook is neutral to slightly positive. Very near term it is creeping higher. The market has recently recovered just ahead of Fibo support at 1.2905 and attention is now on 1.3298 the September high and 1.3363 the July high.

The USD/JPY pair failed to capitalize on its early positive momentum and quickly retreated around 25-pips from session tops. The pair stalled its overnight rebound from near one-month lows and once again met with some fresh supply near mid-112.00s, rather unaffected by a modest US Dollar rebound.

Less helpful though for the Aussie’s attempt to rally from 32 month lows near 0.7000 was the poor sentiment in Chinese equities. This was initially only a background concern for AUD but equity weakness was much harder to ignore on Wednesday when US markets posted their largest losses since February.

“EUR/USD continues to recover from just ahead of 1.1411, the 78.6% retracement.

The Sterling has coiled into a tight consolidation range through Friday's early Asian action as the pair winds into the end-week's European markets.

The Canadian dollar has edged lower in the Thursday session. Currently, USD/CAD is trading at 1.3042, down 0.19% on the day. On the release front, Canada releases the New Housing Price Index, which is expected to post a gain of 0.1% for a third straight month. In the U.S., CPI and Core CPI are both expected to post gains of 0.2%. As well, unemployment claims are forecast to remain pegged at 207 thousand. On Friday, the U.S releases a key consumer confidence gauge, UoM Consumer Sentiment.

The pair is now extending the rebound from recent lows in the 1.1430 zone seen earlier in the week amidst a persistent selling mood hitting the buck. The greenback continues to suffer the sour sentiment in the US stocks markets, as futures keep pointing to a weak start later today while yields of the key US 10-year note manage to rebound from recent lows.

EUR/USD Technical Analysis: Near term corrective. Could test 1.1590 and above...

Less helpful though for AUD/USD’s attempt to rally from 32 month lows near 0.70 was the poor sentiment in Chinese equities. This was a background concern for AUD but equity weakness was much harder to ignore when US markets posted their largest losses since February

The Cable saw plenty of buying pressure in the early Asia session, and now the GBP/USD is heading into the upcoming London market session near 1.3225.

Crude-oil futures early Wednesday in New York traded on either side of break even, bouncing around as investors watched Hurricane Michael, which has intensified to Category 4 storm and was barreling down on Florida, and weighed the impact of pending U.S. sanctions on Iranian crude exports...

AUD/USD Fails ahead of 200-hour SMA, back below 0.71 mark amid renewed USD buying...

We examine the same criteria as the US Treasury and find that while various countries in Asia breached two of their thresholds, none is likely to be labelled as a currency manipulator...

Emerging economies are at risk of capital flight at levels unseen since the financial crisis and markets are "complacent” about financial conditions, according to the global lender of last resort. Developing markets, including ...

The British pound edged 0.4 percent lower at $1.3041 nearing a one-month low hit last week. Against the euro, the British currency was 0.2 percent weaker at 87.86 pence. The pound can definitely move higher from current levels but the markets are waiting for news on...

EUR/USD continues to post losses this week. In the Tuesday session, the pair is trading at 1.1449, down -0.37% on the day. There are no key eurozone or U.S. events on the schedule. Germany’s trade surplus has climbed to ...

The GBP/USD pair struggled to build on its early positive momentum to 100-day SMA hurdle and has now drifted into negative territory for the second straight session. After an initial uptick to levels just above the 1.3100 handle, the pair met with some ...

Gold prices may already have hit bottom for the year after declining for the past six months in a row—the longest streak of losses in nearly three decades. Lower prices have contributed to a boost in global central-bank purchases of gold. Other signs of...

EUR long positions had already dropped heavily in the middle of September. Although they subsequently won back some ground, they fell back into negative ground again last week. GBP shorts have been choppy in recent weeks...

St. Louis Fed President James Bullard was out on the wires in the last hour, saying that the US growth surprise allowed rate hikes but higher interest rates are no longer necessary. He further added that the...

The EUR/JPY pair closed at 130.96 on Friday, confirming a downside break of the trendline connecting the Aug. 15 low and Sept. 10 low.The daily chart also shows a bearish crossover between the 5 and 10 exponential moving average (EMA). So, it seems safe to say that the path of least resistance is to the downside.