Here’s what it means for EUR/USD

Here’s what it means for EUR/USD

Eurozone’s HCOB Composite Purchasing Managers’ Index (PMI) has been revised higher to 48.5 in May, better than the flash reading and estimates of 47.5. This signifies that the overall business activity continues to contract, but at a moderate pace. A figure below the 50.0 threshold is considered as a contraction in the business activity. The […]

Uptrend holds, eyes on 216.00, BoJ risks loom

Uptrend holds, eyes on 216.00, BoJ risks loom

The Pound Sterling advances versus the Japanese Yen on Tuesday, up by 0.24%, driven by traders’ optimism about a US-Iran deal, even though there are rumours that Iran has halted negotiations amid the Israel-Hezbollah conflict over the weekend. The GBP/JPY trades at 215.34 after bouncing off daily lows of 214.74. GBP/JPY Price Forecast: Technical outlook […]

Canadian Dollar edges higher on risk tensions, strong US jobs data

Canadian Dollar edges higher on risk tensions, strong US jobs data

USD/CAD edges lower toward 1.3830 on Tuesday at the time of writing, as the US Dollar (USD) pauses after its recent advance. The pair gives back part of its latest gains despite a geopolitical backdrop that continues to favor safe-haven demand. Market sentiment remains driven by developments in the Middle East. Concerns resurfaced after reports […]