Forex Market

A combination of supporting factors assisted USD/CAD to regain positive traction on Monday. Sliding crude oil prices undermined the loonie and extended support amid modest USD strength. The technical set-up favours bullish traders and supports prospects for additional near-term gains.The USD/CAD pair held on to its strong intraday gains through …

Turkey is reportedly considering raising the level of forex revenues that exporters must sell to the CBRT to as high as 50% from the current level of 25%, reported Reuters citing sources.Turkey’s current account balance registered a $5.15 billion deficit in February, widening $2.71 billion year-over-year, according to official data …

Emmanuel Macron and Marine Le Pen are running a fierce competition against each other in the final round of the French presidential election and the latest poll. Macron is leading 54% versus Le pen’s 46%.The euro is trading 0.25% in the open. Official results of the election are expected later …

It has been an eventful week as the US dollar played some competing roles. This has frustrated some traders, seeking to interpret and know how to deal with critical developments such as the FOMC’s first rate hike in years in light of several Fed speakers during the week.First and foremost, …

The EUR/USD pair remains pressured and aims at finishing the week on the wrong foot amidst a mixed market sentiment. The EUR/USD is trading at 1.0876 as traders prepare for the weekend.Geopolitics and hawkish Fed keep market sentiment mixed. Investors’ mood was mixed during the North American session. US equities …

The EUR/USD pair remains pressured and aims at finishing the week on the wrong foot amidst a mixed market sentiment. The EUR/USD is trading at 1.0876 as traders prepare for the weekend.Geopolitics and hawkish Fed keep market sentiment mixed. Investors’ mood was mixed during the North American session. US equities …

Gold has managed to remain buoyant despite rising US Treasury yields amid an upbeat market mood, as investors shrugged off the Ukraine-Russia brawl and a hawkish Fed, which according to March’s minutes, would hike 50-bps in the May meeting as well as reducing the $9 trillion balance sheet. XAU/USD is …

Analysts at Danske Bank revised their forecast for the European Central Bank and now look for a rate hike in September and December. Despite the more hawkish stance from the ECB, they still forecast EUR/USD at 1.05 in twelve months. Key Quotes: “We revise our ECB call slightly after the …

On 16 March, Jerome Powell, the chair of the US Federal Reserve, announced that the central bank would hike interest rates to 0.25 percent. It was likely just the first in a sequence of rate increases designed to tame stubbornly high inflation. Since the start of the year, the Fed …

The GBP/USD pair has continued moving lower. Economists at Credit Suisse stay bearish and look for a break below 1.30 to open up a fall to 1.2855/29. Resistance has been seen at 1.3168/84Economists now look for an imminent break below 1.3013/00, which would reassert the core downtrend, especially if daily …