Forex
Commerzbank’s Michael Pfister argues that higher Oil prices are giving the Canadian Dollar (CAD) temporary support, but warns that a fragile Canadian economy and upcoming USMCA (United States-Mexico-Canada Agreement) talks could trigger setbacks.
Forex
EUR/JPY trades around 184.00 on Monday, down slightly by 0.04% at the time of writing, as contrasting fundamentals persist between a resilient Eurozone and a Japanese Yen (JPY) supported by defensive flows.
Forex
NZD/USD holds ground after experiencing volatility, trading around 0.5900 during the European hours on Monday. The pair gains ground as the US Dollar (USD) has recovered its daily losses and is extending its gains amid uncertainty surrounding the United States (US)–Iran peace negotiations.
Forex
The Euro (EUR) opens the week on a soft note against the British Pound (GBP). The pair shows moderate losses, as Friday’s upside attempt from the 0.8620 lows failed to find acceptance above a previous support area at 0.8640, which leaves the year-to-date low, at 0.8611, exposed
Forex
Commerzbank strategists note AUD/USD held at 0.7200 on Friday and gained modestly over the week as markets price further Reserve Bank of Australia (RBA) tightening. Overnight index swaps imply a high probability of a third consecutive 25 bp hike to 4.35% and additional tightening by year-end.
Forex
EUR/JPY holds losses after paring its daily losses, trading around 183.90 during the Asian hours on Monday. The technical analysis of the daily chart indicates the currency cross maintains a bearish near-term bias as spot holds beneath both the 50-day and nine-day Exponential Moving Averages (EMAs)
Forex
The AUD/USD pair enters a bullish consolidation phase at the start of a new week and holds steady above the 0.7200 mark, near its highest level since June 2022, touched on Friday.
Forex
The USD/JPY pair attracts some dip-buyers following a modest Asian session downtick to the 156.60 region on Monday.
A week ahead preview: Markets continue to surprise to the upside after the key Central Bank meetings, but the biggest action is yet to come as the new month begins. Get ready for the upcoming week by looking at the past week's Market performance, what changed and the key events to expect in next week)
Forex
AUD/USD holds to minimal gains of 0.10% late in the North American session, yet poised to finish the week up 0.84%. At the time of writing, the pair trades above 0.7200 as the ‘bullish engulfing’ chart pattern caps the Aussie on the downside.
