The USD/CHF Pair Gathers Strength for a Rally Above Immediate Resistance European Session Outlook The USD/CHF pair is showing signs of strength as it prepares for a rally above the immediate resistance level of 0.8780. This bullish momentum is being driven by a number of factors, including the strength of the US Dollar Index (DXY)…
The NZD/USD Intraday Recovery Market Analysis: The NZD/USD pair stages a goodish intraday recovery from the vicinity of mid-0.5900s, or its lowest level since November 2022 touched this Monday and hits a fresh daily peak during the early European session. Spot prices currently trade just below the 0.600 psychological mark, up nearly 0.10% for the…
Gold Price Struggles to Defend Gains Amid US Inflation Data XAU/USD Faces Challenges Amid Market Uncertainty The gold price (XAU/USD) is currently struggling to defend its first daily gains at the lowest level in a month, as the market braces for the upcoming US inflation data. The Consumer Price Index (CPI) for July is expected…
Let’s Talk About the USD/CAD Pair Trading Band Fun So, the USD/CAD pair is up to its old tricks again, bouncing around in a tight trading band during the Asian session. It’s like watching a yo-yo go up and down, except with currency. Currently hanging out around the 1.3415 region, just chilling and keeping things…
GBP/USD Treads Water Around 1.2730 Defending Previous Day’s Rebound The GBP/USD pair is currently treading water around the 1.2730 mark as it defends the previous day’s rebound from the lowest levels in five weeks. Despite this, the pair lacks upside momentum during the early Friday morning in Asia. The Cable pair is struggling to justify…
The Mexican Peso (MXN) Takes a Dive Against the US Dollar (USD) What Happened? It was a tough day for the Mexican Peso (MXN) as it plunged sharply against the US Dollar (USD), accumulating losses of 2% on Thursday and 4% in the week. The main culprits behind this sudden drop were higher US Treasury…
The Impact of Recent Events on GBP/USD Exchange Rate Recent Performance of GBP/USD The GBP/USD has shed an accumulated 462 pips in the past three weeks from its current 52-week high of 1.3142 reached on 14 July 2023. The losses seen so far this week have been accentuated by across-the-board US dollar strength triggered by…
AUD/USD Begins the Key Week Without Surprises Overview The Australian Dollar to US Dollar (AUD/USD) currency pair has started the week without any surprises, hovering around the 0.6650 mark. This comes after a two-week decline, leaving the Aussie at its lowest levels in three weeks. Market participants are eagerly awaiting two major events this week…
