After trading in a range during many sessions, the USD/CHF pair broke to the downside falling below 0.9600, for the first time in two weeks. The US dollar weakened across the board during the American session amid an improvement in risk sentiment and lower US yields.The break under 0.9620 triggered …
Read More »Market Drivers – US Session – Tuesday, June 21
US Fed Chair Jerome Powell will testify before Congress. Powell’s awaited remarks will be out ahead of the event. Market players will be looking for hints on future quantitative tightening. Economic DataThe UK will release updates on inflation data on Wednesday.Other DevelopmentsCentral bankers keep hinting at aggressive measures. Bank of …
Read More »EUR/USD hovers around 1.0550 ahead of Powell’s Testimony
Powell’s Testimony is being awaited and eyed amid market talk over the longevity of Fed’s 75 bps rate hike. The EUR/USD pair holds onto the previous two-day gains around 1.0535-40 during Wednesday’s initial Asian session. The pair’s latest rebound could be linked to the softer US dollar, as well as …
Read More »Could Cryptocurrencies recover losses this summer?
On Tuesday, Bitcoin trades at $21,000 as optimism is encouraging more transactions on the Volume Profile indicator. Investors are now looking to participate in the discounted Bitcoin price should consider reading last week’s outlook for an in-depth analysis and precise invalidation level.Finally; the crypto market is showing signs of a …
Read More »GBP/USD bulls in control but face a wall of 4-hour resistance
At 1.2270, GBP/USD pair trades on the bid between 1.2239 and 1.2324. The price is currently higher by 0.24% and correcting from last week’s drop from 1.24. Overall, the prevalent market sentiment tone is risk-on and positive for the pound with the softer US dollar despite a focus on higher …
Read More »Gold Holds Around $1833
At $1,833.90, gold trades flat by mid-day New York trading session and has stuck to a $1,830.83 and $1,843.66 range so far in a fickle trading environment. There has been some bargain hunting on Wall Street following last week’s sellofs in stocks as investors move in on the energy and …
Read More »EUR/USD firmly heads towards 1.0530s on softer Dollar
As the Euro extended its gains in the week by 0.42%, the US dollar, on the contrary, falls courtesy of a positive market mood.Officially, ECB’s Rehn backs a move above 25 bps in the ECB’s September meeting. On the US front, Fed’s Barkin supported a 50/75 bps rate hike in …
Read More »Treasury Bond Yields Poised To Surge Again
According to the Research Department at BBVA, Treasury yields are likely to rise more, peaking at the time when the US Fed end with tightening monetary policy. Analysts point out current Treasury yield spreads seem to continue to price in a soft landing. It is worth noting that one week …
Read More »AUD/USD edges higher but retreats amidst positive sentiment
The AUD/USD is upward biased in the near term, boosted by RBA’s Lowe, saying that a 25-50 bps increase in the July meeting is on the cards.AUD/USD edges up after beginning the week on the wrong foot, jumping from 0.6915 daily lows towards 0.6990 highs, closing to the 0.7000 threshold. …
Read More »Bank of France cuts 2022 growth expectations to 2.3% from 3.4%
The Bank of France announced on Tuesday that it cut the growth forecast for 2022 to 2.3% from 3.4%. In 2023, the central bank expects the French economy to expand by 1.2%, compared to 2% in its previous forecast.The EUR/USD pair reacted by losing its traction and erased a portion …
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