Triangle consolidation caps upside – Scotiabank
Scotiabank Scotiabank analysts Shaun Osborne and Eric Theoret note the Canadian Dollar is slightly weaker but holding above 1.37, with USDCAD tracking broader Dollar moves. Their fair value estimate has edged up to 1.3625, reflecting less favourable drivers for the CAD. Technically, they see a broad consolidation, with strong resistance in the upper 1.36s and […]
Pound sterling struggles below 1.3500 vs. USD amid BoE rate cut bets
The GBP/USD pair is seen consolidating its weekly losses registered over the past three days and oscillating in a narrow range near a four-week trough, touched during the Asians session on Thursday. Spot prices currently trade just below the 1.3500 psychological mark and seem vulnerable to slide further. The British Pound (GBP) continues with its […]
Will the RBA look through a slight rise in Australia’s unemployment rate?
The Australian monthly employment report is scheduled for release on Thursday at 00:30 GMT, and market participants anticipate a modest increase in jobs in January. The Australian Bureau of Statistics (ABS) is expected to announce that the country added 20K new jobs in the month, while the Unemployment Rate is forecast at 4.2%, up from […]
XAG/USD compresses within triangle chart pattern
Silver (XAG/USD) trades with a positive tone on Wednesday, snapping a two-day losing streak as dip buyers step in to cushion the downside. At the time of writing, XAG/USD is hovering around $77.50, up over 5.5% on the day. Despite the intraday bounce, the white metal could struggle to build on gains in the near […]
Fed Minutes to highlight wide dispersion over rate cut outlook
The Minutes of the United States (US) Federal Reserve’s (Fed) January 27-28 monetary policy meeting will be published on Wednesday at 19:00 GMT. The US central bank decided to leave the policy rate unchanged at the range of 3.50%-3.75%, but Fed Governors Stephen Miran and Christopher Waller voted to lower the fed funds rate by […]
Tests Symmetrical Triangle breakdown near 1.3580
The GBP/USD pair trades flat at around 1.3570 during the European trading session on Wednesday. The pair flattens while the Pound Sterling (GBP) trades higher after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for January. Pound Sterling Price Today The table below shows the percentage change of British Pound (GBP) […]
Constructive dip-buying outlook – ING
ING’s commodities team highlights that Gold has rebounded above $4,900/oz after recent declines linked to a stronger Dollar and risk‑off sentiment. Thin Asian liquidity had amplified moves, but the bank sees the setback as corrective. With Asian trading normalizing and macro uncertainty persisting, they expect underlying support to improve and dips to attract renewed buying. […]
Maintains bullish tone above 108.50, Australian jobs data in focus
The AUD/JPY cross holds steady near 108.55 during the early European trading hours on Wednesday. Growing optimism around Japanese Prime Minister Sanae Takaichi’s pro-stimulus policy agenda could support the Japanese Yen (JPY) and act as a headwind for the cross. Takaichi presented details of her “smart stimulus” fiscal plan, saying that it is based on […]
New Zealand holds interest rate steady at 2.25%, as expected
The Reserve Bank of New Zealand (RBNZ) decided to hold the Official Cash Rate (OCR) at 2.25% after concluding the February monetary policy meeting on Wednesday. The decision aligned with the market expectations. Summary of the RBNZ Monetary Policy Review (MPR) OCR on hold at 2.25% with inflation expected to fall. Annual consumers price inflation […]
USD/CHF nears one-week high amid stronger US Dollar
The Swiss Franc (CHF) edges lower against the US Dollar (USD) on Tuesday, as a firmer Greenback underpins USD/CHF. At the time of writing, the pair trades near 0.7729, hovering close to a one-week high. The Greenback gains traction after last week’s US labor market and inflation data tempered expectations for early policy easing by […]
