Forex News

Welcome to Forex Friday! What’s the Scoop on the Pound? Hey there fellow forex enthusiasts! This week has been quite the rollercoaster ride for the British pound, hasn’t it? With weaker UK inflation data making headlines and giving the Bank of England the greenlight for more rate cuts, it’s no wonder the pound forecast is…

The Euro Facing Challenges EUR Could Test 1.0800 Before a Recovery The Euro (EUR) has been facing challenges in the foreign exchange market, with analysts predicting that it could test the 1.0800 level before a recovery can be expected. According to UOB Group’s FX analysts Quek Ser Leang and Peter Chia, major support at 1.0770…

Silver (XAG/USD) Surges to Two-Week High Positive Momentum Continues After experiencing some volatility in recent trading sessions, Silver (XAG/USD) has regained positive traction and climbed to a two-week high during the first half of the European session on Friday. The white metal’s price movement has been characterized by good two-way price action, with investors keeping…

Feeling the Currency Crunch: GBP/USD on the Rise Riding the Wave It’s a wild ride in the world of forex trading as the GBP/USD pair shows some promising signs during the Asian trading session. After hitting a two-month low, the pair is now bouncing back from the 1.2975-1.2970 region, currently hovering around the 1.3020-1.3025 area….

The Impact of Economic Events on Currency Exchange Rates Understanding the Recent Fluctuations in EUR/AUD Exchange Rate On Thursday, the EUR/AUD fell by almost three-quarters of a percent to the 1.6180s as a result of various economic factors. The Australian Dollar (AUD) received a boost from stronger-than-expected labor market data, causing it to appreciate against…

The USD/CHF pair and its Current Situation Market Movement The USD/CHF pair has retreated slightly from a two-month peak reached recently, hovering around the mid-0.8600s during the European session. Despite this minor pullback, the overall outlook remains bullish, with the fundamental factors favoring upside potential. Factors Behind the Bullish Bias Several factors are contributing to…

Feeling the Impact: UK Inflation Cools, Causing GBP/EUR Exchange Rate to Slump on October 17, 2024. The Pound Takes a Hit On Wednesday, the Pound (GBP) experienced a significant drop in value against the Euro (EUR) due to a cooler-than-expected UK Consumer Price Index (CPI) reading. The latest data for September revealed that headline inflation…

The GBP/USD pair below 1.3000 as bearish sentiment prevails Market Overview: The GBP/USD pair has been struggling to break above the key psychological level of 1.3000 during the Asian session on Thursday. Currently, the pair is hovering near its lowest level since August 20, which was touched in the previous trading day. This decline in…