EUR/USD edges higher above 1.1700 on US-Iran peace optimism, US NFP data looms

EUR/USD edges higher above 1.1700 on US-Iran peace optimism, US NFP data looms

The EUR/USD pair posts modest gains around 1.1730 during the early Asian session on Monday, supported by growing optimism surrounding a potential US-Iran peace deal. Markets might turn cautious later in the day ahead of the highly-anticipated US Nonfarm Payrolls (NFP) report for April.  The US President Donald Trump administration has been waiting for Iran […]

Overbought conditions and support levels – OCBC

Overbought conditions and support levels – OCBC

OCBC strategists Sim Moh Siong and Christopher Wong describe USD/IDR as easing from overbought territory as hopes of a US–Iran deal support sentiment. Bank Indonesia’s (BI) tighter rules on cash FX purchases and comments that the Rupiah (IDR) is undervalued back stabilization efforts. They note intact bullish momentum but early RSI rollover, with support at […]

DXY rebounds as Iran hope trade unwinds

DXY rebounds as Iran hope trade unwinds

Priced for peace The morning belonged to the deal: Asia had ripped overnight, with the Nikkei 225 clearing 62,000 for the first time on a session that gained north of 5%, and US futures came in primed for another leg of the Iran ceasefire trade. The US Dollar Index (DXY) sagged toward 97.60, equities printed […]