Forex News

ECB Policymakers Lean Towards a Gentle Cut for EUR/USD, According to Scotiabank Description: ECB policymakers have perhaps said all that can possibly be said about the outlook for rates this week. The upshot of the range of comments from key officials is that rates will fall a bit more—and will quite likely drop again in…

Gold (XAU/USD) Trading Update: Stuck in Mini Range Gold (XAU/USD) is currently stuck in a mini range this week, with the price hovering around the $2,720 mark on Friday. Despite the lack of movement, the precious metal continues to be supported by safe-haven flows driven by a high level of geopolitical risk. Geopolitical Factors at…

AUDUSD tests support area near 200-day SMA AUDUSD has been on a downward slide again, marking its fourth consecutive week in the red. It recently dipped to a two-month low of 0.6612 but held above the 200-day simple moving average (SMA) and the constraining falling line from February 2023, which increases speculation as to whether…

GBP/USD Recovery Amidst PMI Figures Background The GBP/USD pair managed to recover some lost ground on Thursday, with a 0.4% climb as traders navigated through the challenges of keeping the price action above the 1.2900 mark. The UK Purchasing Managers Index (PMI) figures were released early on Thursday, with a slight miss in expectations. However,…

EUR/GBP trades at two-year lows in the 0.8320s EUR falls as ECB speculation mounts EUR/GBP hit a two-year low in the 0.8320s on Thursday, marking a 0.25% drop for the day. The decline was mainly attributed to a weaker Euro (EUR) as market participants anticipate more aggressive interest rate cuts from the European Central Bank…

UK PMI Data for October Shows Weakening Growth Momentum Overview The UK Purchasing Managers’ Index (PMI) data for October came in below expectations, indicating a slowdown in growth momentum across key sectors. The Manufacturing, Services, and Composite readings all remained above the 50-point mark, signaling expansion, but the sharp decline in Manufacturing (50.3, down from…

The EUR/USD pair gains traction in the Asian session Positive movement after three-day losing streak EUR/USD climbing back towards 1.0800 mark During the Asian session on Thursday, the EUR/USD pair saw some positive movement, breaking a three-day losing streak that had pushed it to its lowest level since early July, around the 1.0760 area. Spot…

Hey there Money Makers! So, remember that time when the USD/JPY currency pair surged to near three-month highs? Yeah, I’m talking about hitting 151.79! Crazy stuff, right? Well, guess what – it was all because of the strengthening US dollar and rising US government bond yields. Who would’ve thought that those little numbers could cause…