Gains near key projections against Euro – Societe Generale

Gains near key projections against Euro – Societe Generale

Societe Generale’s Kenneth Broux highlights that EUR/GBP has extended its decline after breaking a Head and Shoulders neckline at 0.8610, with the move now seen as stretched. The cross has dropped to a 0.84 handle, its lowest since June last year, a 4.5% fall since November. Next technical projections are flagged near 0.8435, while 0.8545 […]

Indian Rupee extends decline amid elevated oil prices

Indian Rupee extends decline amid elevated oil prices

The Indian Rupee (INR) opens lower against the US Dollar (USD), extending its losing streak for the third trading day on Thursday. The USD/INR pair rises to near 96.32 as elevated crude oil prices have renewed fears of higher foreign outflows. The continued military aggression between the United States (US) and Iran in the Middle […]

United States Dollar Index struggles near 100.50/multi-week low

United States Dollar Index struggles near 100.50/multi-week low

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, is seen consolidating around the 100.50 region during the Asian session on Thursday, close to the nearly four-week low touched the previous day. Receding US Federal Reserve (Fed) rate hike expectations favor USD bears, though energy-driven inflation fears and escalating US-Iran […]