Bears target the 200-day SMA
USD/CAD extends its decline farther below 1.4000 on Friday and heads for a third consecutive weekly loss. At the time of writing, the pair trades around 1.3877, at levels last seen in early July. The recent strength in the Canadian Dollar (CAD) is driven by broad US Dollar (USD) weakness and relatively stronger Canadian economic […]
Japanese Yen holds as soft US data meets a weak Yen
USD/JPY is holding near 159.40 at the time of writing, with little change on the day. A weak United States (US) Consumer Sentiment reading nudged the Dollar lower, but the pair has stayed close to where it started. The University of Michigan’s preliminary Consumer Sentiment Index dropped to 51 in August from 55.2, well below […]
Activity data and PBOC stance guide FX – MUFG
MUFG’s Asia FX Weekly highlights that China’s July activity indicators, following weak Q2 GDP, will be central for the Chinese Yuan and regional FX. The authors stress ongoing weakness in fixed asset investment and property-sector challenges, and question whether domestic demand is stabilizing and whether PBOC will tolerate continued CNY strength. They also note PBOC […]
100-Day SMA blocks bullish reversal
The EUR/USD pair registers gains of over 0.32% on Friday as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526. EUR/USD Price Forecast: Technical Outlook The EUR/USD […]
Foreign inflows and exporters support KRW – Commerzbank
Commerzbank notes that the Kospi has rebounded 29.5% from its 30 July low, supported by strong tech earnings and improved sentiment toward semiconductor and memory chipmakers. They note USD/KRW has retreated nearly 8.9% from its July high as exporters’ repatriation and foreign portfolio inflows bolster the Korean Won. Despite a modest 0.3% rise to 1,421 […]
FOMC Minutes take center stage next week
The US Dollar Index (DXY) extended its slide on Friday, holding below 100.00 at fresh lows after a fourth straight soft US data print. The preliminary Michigan Consumer Sentiment survey fell to 51 in August from 55.2, well short of forecasts, capping a week that also brought cooler inflation and a weak Retail Sales report. […]
Steady appreciation backed by PBoC stance – Societe Generale
Societe Generale analysts highlight CNY’s firm trend, with the currency advancing to 6.7424, its strongest level since February 2023, on Dollar weakness and lower US yields. The PBoC reiterates an accommodative stance and targeted support while avoiding explicit rate or RRR cut signals, as 10-year CGB yields fall below 1.70%. Policy support underpins currency strength […]
US Treasury yields rise as Oil strength offsets weak Retail Sales
US Treasury yields advanced on Friday during the North American session after reversing their course following the release of US Retail Sales data, which disappointed investors. Meanwhile, the lack of news from the Middle East kept Oill prices higher, amid fears of a resumption of hostilities. US yields climb as Oil stays bid, while weak […]
Bulls eye 0.7100 after US Retail Sales miss
The Australian Dollar advanced on Friday after US Retail Sales disappointed investors, increasing speculation that the Federal Reserve might not raise rates, as the economy showed tentative signs of weakness. The AUD/USD trades at 0.7083, up 0.34% AUD/USD Price Forecast: Technical outlook The daily chart shows the AUD/USD is bullish, but buyers remain unable to […]
XAG stalls as yields cap recovery
Silver price advanced by some 0.39% on Friday, capped by rising US yields, even though US data was softer than expected. XAG/USD trades at $64.70, after bouncing off daily lows of $63.51. XAG/USD Price Forecast: Technical Outlook The white metal remains downward biased despite signs of bottoming around the $54.70 area, near the yearly low […]
