The AUD/JPY cross is experiencing a positive trend for the third consecutive day, reaching a fresh weekly high around the 96.85 region during the Asian session on Thursday. This upward momentum, however, must be approached with caution as spot prices remain within a well-established trading range. Traders should exercise prudence before committing to an extension
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Eurozone Retail Sales experienced a sharp decline of 1.1% MoM in December, marking its steepest fall in a year. This unexpected drop came as a significant blow to the euro. Additionally, on an annual basis, Eurozone Retail Sales also saw a decline of 0.8% YoY in December. These figures were worse than market expectations, emphasizing
The Pound Sterling (GBP), despite briefly showing signs of recovery, continues to struggle against the backdrop of a bearish market sentiment. This struggle is compounded by the cautious approach of the Federal Reserve (Fed) towards interest rate cuts, further dampening the appeal of risk-sensitive assets. Additionally, the UK economy teeters on the brink of a
The Indian Rupee (INR) has lost traction in recent days, largely due to the strengthening of the US Dollar (USD). Investors are closely monitoring the Reserve Bank of India (RBI) as it is expected to keep interest rates unchanged. Additionally, the US ISM Services PMI report for January is anticipated to provide further insight into
The AUD/USD pair is facing selling pressure during the early Asian session on Monday as the US Dollar (USD) gains strength. This is primarily due to the release of better-than-expected US job data, which has led to an uptick in the USD, thereby weighing on AUD/USD. This article will analyze the factors contributing to the
The US Dollar (USD) saw a significant rise on the Dollar Index (DXY) chart, reaching a high of 103.90 on Friday. This surge was mainly driven by a promising labor market report, which convinced the markets that a rate cut in March is unlikely. Fed Chair Powell further reinforced this idea, stating that the bank
The AUD/JPY cross is experiencing a decline for the third consecutive day, indicating vulnerability to further sliding. During the Asian session, spot prices dropped to a nearly one-month low, currently trading around the 96.20-96.15 area. Bears are now aiming to push prices below the 100-day Simple Moving Average (SMA), extending the downward trajectory. The Australian
The Bank of Japan (BOJ) has come under scrutiny for its monetary easing policy as several members express concerns regarding its effectiveness in achieving the inflation target of 2%. In the Summary of Opinions released by the BOJ, various members highlighted the need for a positive wage-inflation spiral and emphasized the importance of strengthening wage
The GBP/JPY pair is experiencing a continued decline, with risk-off sentiment prevailing due to increased tensions in the Middle East. This has led investors to seek the safe-haven status of the Japanese Yen (JPY), thereby putting pressure on the GBP/JPY cross. Additionally, Japan’s Unemployment Rate contracted to 2.4% in December, signaling positive labor market conditions.
The GBP/USD pair continues to struggle to find a clear near-term direction, oscillating within a familiar trading range. Traders are treading cautiously as reduced bets for an early Bank of England (BoE) rate cut lend some support to the British Pound (GBP), while uncertainty surrounding the Federal Reserve’s (Fed) rate-cut path holds back any definitive
The GBP/USD pair remains trapped in a narrow trading range in the Asian session on Friday. Traders are eagerly waiting for the release of the US PCE Price Index before placing any fresh directional bets. The lack of a breakthrough in a descending trend-line is hampering the prospects for additional gains. The GBP/USD pair is
EUR/USD is trading lower near 1.0880 during the Asian session on Thursday, as the US Dollar (USD) is making efforts to retrace its recent losses. The 14-day Relative Strength Index (RSI) for the EUR/USD pair is positioned below the 50 mark, indicating a bearish momentum in the market. The lagging indicator Moving Average Convergence Divergence