Any USD/JPY dip in response to USD weakness has been very shallow. Economists at OCBC Bank expect the pair to grind higher to test the 120 mark in the coming sessions. Topside extension “With the pair looking to consolidate between 118.50 and 119.00, the next multi-session target may well be the 120.00 psychological level.” Note
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What you need to take care of on Friday, March 18: The American Dollar remained under selling pressure throughout the day, accelerating its slump ahead of the London fix. The greenback was affected by persistent weakness in government bond yields following the hawkish Federal Reserve’s announcement on Wednesday. By the end of the American session,
EUR/USD closed the second straight day in positive territory on Wednesday but struggled to clear 1.1050. Economists at ING expect the pair to remain capped at the 1.1100/1120 region. Let’s hear from the ECB “After the Fed’s success with a hawkish message and some suggestion from sourced reports that the ECB was unhappy with EUR/USD
US stocks rebound in the Fed aftermath, S&P500 is 1.5% in the green. Ukraine/Russia peace talk hopes gain traction in global financial markets. The S&P 500 is in the green by some 1.6% at the time of writing and after the volatility surrounding the Federal Reserve that on Wednesday raised its benchmark lending rate for the first
FX option expiries for March 16 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1000 1.2b 1.1050 728m 1.1100 823m 1.1150 2.6b – GBP/USD: GBP amounts 1.3500 747m – USD/JPY: USD amounts 117.95 734m – USD/CHF: USD amounts 0.9115 440m 0.9325 770m 0.9400 540m – USD/CAD: USD amounts
What you need to take care of on Wednesday, March 16: The dollar started the day on the back foot but managed to recover the ground lost during US trading hours. The EUR/USD pair is trading at around 1.0940, while GBP/USD changes hands at 1.3035. President Vladimir Putin said Kyiv is not serious about finding
In recent weeks, the Swedish krona has suffered strongly from the increased risk aversion in the wake of the Ukraine conflict. Once the war events subside, the SEK should be able to correct the losses. However, as long as the Riksbank maintains its ultra-expansionary stance, the krona will not be able to make any additional
The sterling fails to regain 1.3100, remains near mid-term lows. Pound recovery falters despite BoE rate hike expectations. GBP/USD decline could extend to 1.2500 – ScotiaBank. The pound sterling remains slightly positive on Monday, buoyed by a moderate risk appetite although its rebound from lows near 1.3000 has been capped below 1.3075. Cable remains bearish at
EUR/USD has been fluctuating in a narrow channel above 1.09. The euro needs to clear 1.0940 to extend recovery, FXStreet’s Eren Sengezer reports. Risk perception likely to continue to impact euro’s valuation in near-term “Russian and Ukrainian officials are expected to hold the next round of talks at 08:30 GMT on Monday. A renewed optimism
GBP/JPY looks to post solid gains on Friday having bounced from earlier sub-152.00 levels, but failed to hold above 153.00. The 200DMA in the 153.20s plus waning risk appetite on during US hours amid geopolitical worries weighed on the pair. GBP/JPY upside on Friday has waned somewhat since the start of US trade, with the
The British pound falls vs. the US Dollar on broad US dollar strength amid a risk-off market sentiment. UK’s upbeat economic data and BoE rate hike bets expectations faltered to support the GBP. GBP/USD Technical Outlook: Downward biased, as bears eye 1.2850. The British pound heads into the weekend, set to record losses as Wall
GBP/USD Weekly Forecast: No reprieve amid Ukraine crisis, focus shifts to Fed and BOE It was a brutal week for markets, as the tensions between the West and Russia intensified over the latter’s invasion of Ukraine. Risk-off trades dominated almost throughout the week, as investors dumped the higher-yielding currencies such as the pound while seeking
The shared currency is set to end the week with gains, up some 1.94%. A mixed-market mood dented appetite for the single currency, boosting the yen. EUR/JPY Technical Outlook: Remains downward biased, unless EUR bulls reclaim 130.00. The EUR/JPY plummets from weekly highs during the North American session amid a sudden risk-off market mood on
US equities traded in choppy, mixed fashion on the final trading day of what has been an indecisive week. The S&P 500 opened 0.5% higher following positive Putin commentary on Ukraine, but skeptical investors have since pared these gains. US equities traded in choppy, mixed fashion on the final trading day of what has been
According to FX Strategists at UOB Group, EUR/USD is now expected to trade in a volatile fashion and within the 10870-1.1180 range in the next weeks. Key Quotes 24-hour view: “We expected EUR to ‘consolidate and trade between 1.1000 and 1.1100’ yesterday. EUR subsequently popped to 1.1120, dropped to 1.0975 before closing at 1.0983 (-0.83%).
Oil prices have been choppy and mixed on Thursday as traders juggle a multitude of themes. Russia/Ukraine talks didn’t go as well as hoped, and mixed commentary from the UAE has sparked OPEC+ output policy speculation. Having fallen back from an earlier rally towards $115, WTI is a tad lower on the day in the
Palladium remains pressured around intraday low after dropping the most in nine months. MACD signals join bearish breakout of triangle to keep sellers hopeful. Bulls need clear break above $3,210 to retake controls. Palladium (XPD/USD) bears keep reins around $2,970, down 0.17% intraday heading into Thursday’s European session. That said, precious metal dropped the most
Silver’s appetite decreased as investors sought higher returns on an upbeat market mood. US Treasury yields rise, a headwind for the white metal. XAG/USD Technical Outlook: Still upward biased, despite the correction to the $25.60 area. Silver (XAG/USD) retreats from eight-month-old highs near the $27.00 mark due to market players’ increase of risk appetite, spurred