Australian dollar steadies as Westpac consumer confidence indicates decline in growth
The Australian Dollar held firm on Tuesday despite weaker-than-expected Westpac Consumer Confidence data, reflecting a cautious sentiment among traders ahead of key global events. The latest figures revealed a 1.7% drop in consumer confidence, signaling slowing economic optimism amid persistent inflationary concerns and high borrowing costs. Market participants showed limited reaction to the domestic data, […]
USD/INR trades flat as traders await US Retail Sales release
The USD/INR pair remained steady in early trade on Tuesday, hovering around the 83.40 mark, as investors refrained from taking bold positions ahead of the critical US Retail Sales data release. Market participants expect the figures to offer fresh cues on consumer spending trends and, in turn, the Federal Reserve’s monetary policy trajectory. With the […]
GBP/USD Price Forecast: Tests descending channel’s upper boundary above 1.2650
The British pound (GBP) is testing crucial resistance levels against the US dollar (USD), as the GBP/USD pair nears the upper boundary of a descending channel. Currently, prices are approaching the 1.2650 mark, a critical point that could determine the pair’s next move. Following recent price action, GBP/USD has been trading in a descending channel, […]
USD/CAD softens below 1.4250 ahead of Canadian CPI inflation data
The USD/CAD pair weakened slightly below 1.4250 on Tuesday as markets turned cautious ahead of Canada’s upcoming CPI inflation report. Traders anticipate this data will shape the Bank of Canada’s next policy moves, potentially influencing the strength of the Canadian dollar. Market sentiment remains mixed, with the U.S. dollar holding firm amid global uncertainty. However, […]
PBOC sets USD/CNY reference rate at 7.1891 vs. 7.1882 previous
The People’s Bank of China (PBOC) set the USD/CNY reference rate at 7.1891 on Wednesday, slightly higher than the previous 7.1882. The adjustment reflects subtle moves in the Chinese yuan amid global currency fluctuations and investor caution surrounding China’s economic outlook. The modest uptick follows ongoing scrutiny of the central bank’s stance as it navigates […]
EUR/USD struggles to make headway above 1.05
The EUR/USD pair is struggling to gain momentum, remaining capped below the 1.05 level as investor sentiment remains cautious. Despite a recent pullback in the U.S. dollar, the euro has failed to capitalize amid lingering concerns over economic growth in the Eurozone. Analysts point to a stronger U.S. economic outlook and rising Treasury yields as […]
GBP/USD pares recent losses as Cable traders brace for central bank outings
The GBP/USD pair stabilized on Tuesday, recovering from earlier losses as investors focused on crucial central bank policy announcements later this week. The Bank of England (BoE) and the Federal Reserve are set to release their outlooks, which could significantly influence the direction of the currency pair. Following a slight decline in recent sessions, the […]
USD/JPY flat lines around 154.00, eyes on US Retail Sales release
The USD/JPY pair remains steady around 154.00 ahead of the release of key US Retail Sales data, which could influence the Federal Reserve’s interest rate outlook. After weeks of minor fluctuations, investors are holding back significant moves, waiting for economic signals that could guide the Fed’s next steps. Markets anticipate that the US Retail Sales […]
AUD/JPY price forecast: Rises to near 98.00 amid potential for bullish divergence
The Australian Dollar (AUD) continues to strengthen against the Japanese Yen (JPY), approaching the 98.00 mark, driven by growing optimism in the global market and signs of bullish divergence in the pair’s technical indicators. The pair has surged in recent trading sessions, largely due to a favorable risk sentiment and a rebound in global commodity […]
Japanese yen remains on the defensive against USD amid BoJ rate hike skepticism
The Japanese yen remains under pressure against the U.S. dollar, despite ongoing speculation over potential interest rate hikes from the Bank of Japan (BoJ). As investors grow skeptical of the BoJ’s ability to tighten policy in the near future, the yen has failed to capitalize on the broader global shift toward higher interest rates. The […]