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FXStreet - The Foreign Exchange Market - Economy
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USD/CAD breaks below 200-DMA, downtrend persists – Société Générale
USD/CAD continues its descent after slipping below the 200-DMA, now hovering near a long-term trend line. While momentum indicators show some signs of stabilization, the technical outlook remains fragile without a clear bounce, Société Générale's FX analysts note.
EUR/GBP steadies near 0.8400 following PMI data from Eurozone, Germany
EUR/GBP moves little after registering losses in the previous session, trading around 0.8420 during the European hours on Wednesday. The currency cross remains steady after the Purchasing Managers’ Index (PMI) data was released from the Eurozone and Germany.
NZD/USD Price Forecast: Support at the 0.6000 area keeps the upward trend intact
The New Zealand Dollar turned lower on Tuesday, weighed by a stronger US Dollar, but downside attempts have been contained at the 0.5990-0.6000 area, which keeps the broader upward trend intact.The Kiwi retreated from year-to-date highs, at 0.6050, following stronger-than-expected US job openings nu
AUD/USD: Expected to trade in a range between 0.6445 and 0.6490 – UOB Group
Australian Dollar (AUD) is expected to trade in a range between 0.6445 and 0.6490 against US Dollar (ISD). In the longer run, price action suggests AUD could continue to rise and test the significant resistance level at 0.6540, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
GBP/USD: A sustained advance can be expected above 1.3600 – UOB Group
Current price movements are likely part of a 1.3490/1.3555 range trading phase. In the longer run, Pound Sterling (GBP) must first close above 1.3600 before a sustained advance can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZD/USD: Likely to consolidate between 0.5985 and 0.6030 – UOB Group
New Zealand Dollar (NZD) is likely to consolidate between 0.5985 and 0.6030. In the longer run, rapid buildup in upward momentum indicates further NZD strength; the level to monitor is 0.6095, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUD/USD is looking for direction around 0.6450 ahead of US employment data
The Australian Dollar is practically flat on the daily chart, moving back and forth around the 0.6450 area, following a reversal from the 0.6500 area on Thursday, after downbeat data and dovish RBA minutes.The minutes of the latest RBA monetary policy meeting revealed that the bank considered a 50 b
USD: Dollar rebounds, trade and ISM in focus – ING
The US Dollar (USD) showed resilience despite the late-session bounce in Treasury yields, supported by strong April JOLTS job openings. That said, the JOLTS data adds little to the overall jobs picture: the labour market remains tight, while declining quits suggest wage growth is easing.
USD/JPY: Likely to trade in a higher range of 143.30/144.30 – UOB Group
Any further rebound is likely part of a higher range of 143.30/144.30 instead of a sustained advance. In the longer run, price action suggests that USD is still trading in a range, most likely between 142.10 and 145.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD/CAD Price Forecast: Falls to near 1.3700, eight-week lows
The USD/CAD pair is retracing its recent gains registered in the previous session, trading around 1.3710 during the European hours on Wednesday. The daily chart's technical analysis suggested a persistent bearish sentiment, as the pair consolidates within the descending channel pattern.
Silver Price Forecast: XAG/USD bearish correction finds support at $34.00
Silver prices (XAG/USD) are trading lower on Tuesday’s European session, weighed by a somewhat firmer US Dollar, as the risk-off mood witnessed on Monday seems to have eased.The precious metal hit fresh six-month highs on Monday, with the US Dollar hammered by renewed tariff concerns and downbeat US