Euro (EUR) gains extended to the low 1.17 area overnight before easing back modestly but the broader backdrop of trade, rate and sentiment challenges for the USD as well as hopes that US pressure for an end to the Ukraine war as Trump/Putin plan to meet in Budapest are all combining to lift the EUR mood, Scotiabank’s Chief FX…
The USDCAD technical picture remains largely unchanged. On Monday, the pair pushed above the 38.2% retracement of the 2025 trading range and also broke above a key swing area between 1.40106 and 1.40268. Since then, the price has held above that zone, keeping buyers in control of the short-term bias. However, upside momentum has been capped, with the Tuesday…
USD/CHF extends its losing streak for the fourth consecutive day, hitting a new one-month low at 0.7873 on Friday, before cutting losses following US President Donald Trump’s comments on the trade dispute with China. The US Dollar (USD) remains fragile in a risk-off environment, as investors worry about the combined impact of escalating US-China trade tensions, the prolonged US…
Mon: PBoC LPR, CCP 4th Plenum (20th-23rd), Chinese House Prices (Sep), Retail Sales (Sep) & Industrial Output (Sep), German Producer Prices (Sep), US Leading Index (Sep), New Zealand Trade (Sep) Tue: NBH Policy Announcement, CCP 4th Plenum (20th-23rd), UK PSNB (Sep), Canadian CPI (Sep) Wed: CCP 4th Plenum (20th-23rd); UK CPI (Sep), Japanese Trade Balance (Sep) Thu: CBRT, BOK…
The Euro (EUR) weakens against the US Dollar (USD) on Friday, snapping a three-day winning streak as the Greenback finds renewed strength after US President Donald Trump softened his rhetoric on US-China trade tensions. At the time of writing, EUR/USD is trading around 1.1663, easing from two-week highs reached earlier in the day. Meanwhile, the US Dollar Index (DXY),…
Gold has run into some heavy selling after the US equity open, with prices falling $100. The selling accelerated after the break of yesterday’s low of $4278. gold 10 mins There is no clear catalyst for the drop but gold is extremely technically overbought and there may be some market participants looking to take profits ahead of the weekend….
EUR/JPY slides 0.25% on Friday, trading around 175.40 at the time of writing, after hitting a two-week low of 174.82 earlier in the day. The Japanese Yen (JPY) is appreciating across the board, supported by remarks from Bank of Japan (BoJ) officials suggesting further policy tightening. BoJ Deputy Governor Shinichi Uchida said on Friday that the Japanese economy is…
Sector Overview: Winners and Losers Consumer Cyclical & Automotives 🚗: Tesla (TSLA) surged by 2.06%, highlighting robust gains in the automotive sector. This boost suggests bolstered investor confidence, possibly due to optimism around sustainable vehicle sales or recent positive announcements. Technology 📉: In the semiconductor space, Broadcom (AVGO) fell by 2.12%, marking a significant sector decline. Despite this dip,…
The GBP/USD pair retreats on Friday after hitting its highest level in a week of 1.3471 after US President Donald Trump stated that elevated tariffs on China are “not sustainable.” Consequently, the Greenback printed gains as reflected by the pair, trading above the 1.3415 handle, down 0.12% on the day. Sterling slips after weekly highs as Fed easing bets…
Earlier today, the EURUSD pushed higher, making a strong test of a key resistance level: the 50% midpoint of the September high-to-October low range. This level is located at 1.17297, and the high of the day came in just shy of it at 1.17285. Following this resistance test, steady selling pressure entered the market. The subsequent move to the…
