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EUR/USD will struggle to gain from a kinder gentler FOMC, even though the big downside surprise in today's NY Fed manufacturing bolstered the view that the U.S. central bank will temper its hawkish stance after this week's meeting...

The EUR/USD pair is on a steady rise above the 1.13 handle so far this Monday, with the bulls having gathered strength in Europe, as the US dollar correction across the board regains momentum...

Safe-haven currencies soared on Friday as disappointing data from China and Europe heightened concerns over global growth. The greenback finished the week stronger against its major trading partners as...

EUR recovered and the bottom of our expected 1.1300/1.1440 consolidation range at 1.1300 remains unchallenged (low of 1.1311). Despite the recovery, the underlying tone remains soft and we continue to see chance for EUR to dip below 1.1300. However, as ...

Major currencies traded in a tight range on Thursday, struggling for drivers. The euro slipped earlier in the session, after European Central Bank President Mario Draghi sounded more downbeat than expected in the central bank’s last news conference of the year....

EUR recovered and the bottom of our expected 1.1300/1.1440 consolidation range at 1.1300 remains unchallenged (low of 1.1311). Despite the recovery, the underlying tone remains soft and we continue to see chance for EUR to...

The European Central Bank is fully expected on Thursday to affirm its plan to end its bond-buying program at year-end. But investors expect less clarity when it comes to signaling when Mario Draghi and fellow policy makers will move to ...

There is not much to add to yesterday’s (11 Dec, spot at 1.2565) update. As highlighted, downward momentum has picked up strongly and GBP is still clearly under pressure. That said, the rapid decline over the past several days appears to be ...

EUR edged above the top of our expected 1.1300/1.1440 consolidation range yesterday but dropped sharply after touching 1.1443. The price action reinforces our current view wherein EUR is “caught in a consolidation range for now”...

There is not much to add as EUR closed little changed in NY last Friday (1.1376, +0.01%). While the underlying tone has strengthened somewhat, we continue to hold the view that EUR is “caught in a consolidation range for now” and is likely to trade sideways...

Forex Today in the Asian trading session witnessed good two-way businesses while the US dollar extended its move lower amid growing concerns over the US economic outlook, in light of Friday’s downbeat US NFP report.

Gold extended its steady decline through the early European trading session and eroded a major part of the previous session's strong up-move to five-week tops. The US Dollar built on its modest rebound and turned out to be one of the...

EUR/USD: EUR is caught in a consolidation range for now; GBP/USD: Neutral: GBP could move below the year-to-date low of 1.2662. NZD/USD: Shift from neutral to BULLISH*: Target a move to 0.7000...

The General Advocate for the European Court of Justice published an opinion in which he said that the UK could unilaterally revoke Article 50. While this is not a binding ruling, these opinions turn into decisions more often than not...

Although the GBP/USD pair took advantage of the broad-based USD weakness and rose above the 1.28 handle on Monday, it failed to extend its rally in the second half of the day and erased its daily upside. As of writing, the pair was...

EUR/USD: Neutral: EUR is caught in a consolidation range for now; GBP/USD: Neutral: GBP could move below the year-to-date low of 1.266; AUD/USD: Neutral: AUD is expected to move higher to 0.7410...

The US dollar is higher against most major pairs on Friday ahead of the G20 meeting. The greenback fell across the board on Wednesday after the market took the comments from Fed Chair Powell on interest rates to mean less rate hikes from the...

Beginning with their central view on the economy, Vice Chair Clarida made clear that US economic momentum remains “robust, as indicated by strong growth in gross domestic product (GDP) and a job market that has been surprising on the upside for...

The US Dollar’s bullish trend has finally found some resistance off of the 97.50 level, and this was helped in-part by a speech from FOMC Chair, Jerome Powell yesterday. In that speech, Mr. Powell shared a differing view on the Fed’s proximity to...

EUR/USD: Neutral: Risk of a short-term bottom has increased;GBP/USD: Neutral: GBP could move below the year-to-date low of 1.2662; AUD/USD: Neutral: Prospect of 0.7199 as a short-term bottom is quite high...

Estimates of neutral policy rate, maximum employment highly uncertain; Gradual rate hikes meant to keep risks at bay, learning ...

Analyst at Commerzbank, suggests that the EUR/USD has seen a slight erosion of the 1.1300 August and October lows and the market needs to overcome the current November high at 1.1500 to alleviate immediate downside pressure and...

U.S stock futures are lower; along with European shares while gains in Asian equities were capped overnight after President Trump’s comments on further Chinese tariff hikes casted doubt on an ending to a trade war between the worlds two largest economies...

EUR/USD: Neutral: EUR to trade sideways for now; GBP/USD: Neutral: Diminished prospect of GBP making fresh 2018 low; AUD/USD: Neutral: Short-term top in place; AUD to trade sideways for now...

Analysts at Danske Bank explain that the EUR/USD has been dragged down by the marked divergence in growth momentum still visible in PMIs on Friday and cyclical dispersion is set to remain a key factor near term...

EUR/USD: Neutral: EUR to trade sideways for now; GBP/USD: Neutra: Diminished prospect of GBP making fresh 2018 low; AUD/USD: Neutral: Short-term top in place; AUD to trade sideways for now...

The dollar was higher on Friday against most major pairs. The greenback gained the most against the EUR as disappointing PMI surveys and the uncertain future of the Brexit deal ahead of the weekend took its toll on the single currency...

"If - and it's a very big if - the British Prime Minister can defy the odds and persuade parliament to approve her Brexit deal in December, then we think this would keep the Bank on-track to hike rates in May 2019, potentially followed by a second increase in November," explain ING analysts...

After an initial uptick to 1.1420 region, the EUR/USD pair met with some aggressive supply and tumbled to the lower end of its weekly trading range. The shared currency's sudden collapse of over 50-pips during the early...

British Prime Minister Theresa May's spokesman crossed the wires in the last hour saying that the UK had no further demands in Brexit negotiations ahead of the EU summit on Sunday.

Gold prices edged higher on Thursday and moved within striking distance of two -week tops set in the previous session. A combination of supporting factors helped the precious metal to...

Recent rhetoric from the Governing Council has suggested that the December meeting will be...

EUR/USD: Neutral : Upward pressure has eased; EUR to trade sideways for now; GBP/USD: Neutral: Prospect of a fresh low for the year has increased;AUD/USD: Neutral: Short-term top in place; AUD to trade sideways for now...

The US dollar consolidated the overnight bounce across the board in Wednesday’s Asian trading, as most majors breathed a sigh of relief. The Antipodeans benefited the most amid a bounce in oil prices while the Loonie traded better bid near the 1.33 handle. The Aussie extended the...

After the EUR/USD's fantastic decline on Tuesday, the pair is seeing a mild bounceback into the 1.1385 region, though major intraday resistance rests at the 38.2% Fibo level of yesterday's contraction sits in confluence with the 1.1400 handle...

EUR/USD: Neutral: Rebound in EUR could extend further to 1.1500; GBP/USD: Neutral Prospect of a fresh low for the year has increased;AUD/USD: Neutral: Next level to focus on is at 0.7380...

Forex today in Asia witnessed risk-off market profile for the second day in a row this Monday, as the Asian stocks tracked the heavy losses in their Wall Street counterparts. Amid risk-aversion, the Aussie was the biggest loser while the Yen recovered ground and...

Additional comments from New York Fed President continue to cross the wires.

Gold came under some fresh selling pressure at the start of a new trading week and eroded a part of Friday's strong up-move to over one-week tops. The Fed Vice Chairman Richard Clarida's dovish comments on Friday, saying that...

EUR/USD: Neutral- Rebound in EUR could extend further to 1.1500. GBP/USD: Neutral: Prospect of a fresh low for the year has increased; GBP/USD: Neutral- Prospect of a fresh low for the year has increase; AUD/USD: Neutral- Next level to focus on is at 0.7380...

The US dollar is weaker across the board on Friday. The comments from U.S. Federal Reserve Vice-Chair Richard Clarida on interest rates nearing a neutral rate were dollar negative. Rising optimism about the US-China trade disagreement also depreciated the greenback as investors exited the...

The European Central Bank (ECB) President Draghi is on the wires now, via Reuters, delivering the keynote speech at the Frankfurt European Banking Congress. Key Headlines:

EUR/USD: Neutral - Downward pressure has eased, EUR to trade sideways; GBP/USD: Neutral: Prospect of a fresh low for the year has increased;AUD/USD: Neutral- October’s peak of 0.7315 is back in sight...

EUR/USD has posted slight losses on Thursday session, wiping out the gains seen on Wednesday. In the European session, the pair is trading at 1.1299, down 0.10% on the day. On the release front, the sole indicator is eurozone trade balance...

EUR/USD: Neutral: Diminished odds for a break of 1.1200; GBP/USD: Neutral : GBP is likely trading within a broad range; AUD/USD: Neutral ;October’s peak of 0.7315 is back in sight...

Gold prices struggled for meaningful upside progress despite a weaker US Dollar, which typically boosts anti-fiat demand for the yellow metal. That might reflect traders’ unwillingness to commit ahead of key event risk on the horizon...

The European currency is looking to add to Tuesday’s rebound, prompting EUR/USD to return to the 1.1300 neighbourhood. EUR/USD looks to Brexit, Italy, data...now struggling to advance further north of the 1.1300 handle...

The US dollar profit-taking was the key underlying theme in Asia this Wednesday, in response to the increased demand for the GBP and Euro on a potential Brexit deal. The GBP/USD pair jumped to 1.3050 in early trades on reports that the key UK Cabinet Ministers will support the...

EUR/USD: Neutral - Break of 1.1200 could open up the way for further rapid drop.GBP/USD: Neutral - Still in range but risk of a break of 1.2800 has increased. AUD/USD: Neutral - Diminished odds for further AUD strength...

Forex Today witnessed a major turnaround in the risk sentiment in Tuesday’s Asian trading, in response to the latest report that China’s Vice Premier is heading to the US soon to bring out a resolution on the US-China trade talks. Markets believed this move by China could pave...

The US dollar rose against most major pairs on Friday. Only the Japanese yen was able to gain against the mighty greenback. The FOMC statement eased concerns that the Fed would hint at a pause in its tightening of monetary policy. The lack of changes, and given that there was no...

The selling bias around the British Pound remains well and sound during the second half of the week, although some decent contention turned up in the sub-1.30 area for GBP/USD, session lows. GBP/USD looks to Brexit headlines for direction...

The USD/JPY pair traded with a mild negative bias through the Asian session on Friday and eroded a part of previous session strong up-move to five-week tops. Resurgent US Dollar demand on Thursday helped the pair to build on the previous session's goodish rebound from...

The recovery in the cross met strong resistance in the boundaries of the key 200-day SMA at 130.2, provoking failure and the ongoing knee-jerk after five consecutive daily advances. Immediate target on the upside remains ...

Forex today in Asia was characterised by minimal volatility and tight trading ranges, as the dust settled over the US mid-term elections aftermath. The US dollar staged a solid comeback across its major rivals, having almost reversed a Democrats win induced sell-off seen a day before...

Crude oil is trading in a strong bear trend below the 50, 100 and 200-period simple moving average on the 4-hour chart. In reaction to the EIA data, oil lost almost $1 in a few minutes...

Analysts at National Bank Financial, suggest that today’s Fed rate setting meeting will be held on the heel of a month characterised by both global and domestic stock market weakness, which has contributed to some tightening of ...

EUR/USD: Neutral : Immediate bias is for EUR to probe the top of the expected 1.1330/1.1490 consolidation range; GBP/USD: Neutral: Rebound could extend further but a break of 1.3190 would be surprising; AUD/USD: Neutral : Scope for AUD to test the key and critical 0.7260 resistance...

Gold reversed an early dip to sub-$1230 level and is now holding with modest daily gains, recovering the downtick witnessed over the past two trading sessions. The prevalent cautious mood across global financial markets, ahead of the US midterm elections, turned out to...

Forex today in Asia was a quiet affair today, with most majors sticking to tight trading ranges, as the investors trade with caution in the run up to the US mid-term elections showdown later on Tuesday. The US dollar traded on the front against its major rivals, but the bulls...

EUR/USD: Immediate bias is for EUR to probe the top of the expected 1.1330/1.1490 consolidation range.;GBP/USD: Rebound in GBP has room to extend higher to 1.3100; AUD/USD: Scope for AUD to test the key and critical 0.7260 resistance...

The overnight Brexit deal rhetoric prompted a bullish opening gap in the Cable, as the pound bounced to 2-week highs to near 1.3050 level vs. the greenback. The opening jump was quickly reversed and the spot gave up the...

The dollar is higher against major pairs on Friday after the release of the October U.S. non farm payrolls (NFP) report showed a massive 250,000 jobs gain and the fastest wage growth pace since 2009. US fundamentals have been solid and boosted the US dollar higher despite...

The USD/JPY pair struggled to build on its intraday positive move and quickly retreated over 25-pips from session high level of 113.10. The pair stalled this week's retracement slide from over...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): Negative phase has ended; immediate bias is for EUR to probe the top of the expected 1.1330/1.1490 consolidation range.GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): Rebound in GBP has room to extend higher to 1.3100...

Gold staged a solid rebound on Thursday and reversed the previous session’s entire downfall to three-week lows. The commodity stalled its recent corrective slide from over...

EUR/USD: Neutral: EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high; GBP/USD: Neutral -Negative phase has ended, GBP has moved into a correction phase...

UK Brexit Secretary Dominic Raab says a Brexit deal is due by November 21st. The GBP/USD is reacting positively and it jumped above 1.2800. The high so far was 1.2830.

EUR/USD has ticked lower on Wednesday, after posting losses in the past two sessions. Currently, the pair is trading at 1.1334, down 0.10% on the day. On the release front, German retail sales posted a gain of 0.1%, missing the...

Bank of Italy Governor and ECB governing council member Ignazio Visco was out on the wires in the last hour, commenting on Italy's debt situation and said: Italy cannot narrow the growth gap with EU with higher spending...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): More than even odds for a break of 1.2662 year’s low...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): GBP is searching and possibly close to making a short-term bottom...

EUR/USD remains directly offered below the 20 day ma at 1.1482. There is scope for a retest of the 1.1315 200 week ma and 1.1301 recent low. This is expected to hold the down side.

Forex Today saw a major turnaround in tandem with the risk sentiment, as the US President Trump’s optimistic comments offered a fresh breath of life in the Asian markets. The Asian equities staged a comeback, led by China stocks and lift the demand for...

Forex Today witnessed two-way business in Asia on the first trading day of the week, with the risks sentiment driving the market sentiment amid a sell-off in the Chinese stocks, as China slowdown fears begin to bite again. Amidst risk-aversion, the US dollar traded well bid across the...

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. GBP/USD: Neutral (since 21 Aug 18, spot at 1.2795): GBP is searching and possibly close to making a short-term bottom...

The US dollar was lower against most major pairs on Friday. The greenback dropped as investors flocked to safe havens away from the US currency. Trade war concerns and its impact on US companies have triggered a massive sell off in equities. The US dollar is on the back foot despite...

USD/CAD is trading in a bull trend above the 200-period simple moving average. USD/CAD found strong resistance at the 1.3150 resistance as the market is reversing sharply.

Gold is trading in a bull trend above the 200-period simple moving average. Gold broke above 1,237.60 (July 3 swing low) as technical indicator suggest more upside. The next levels for bulls to reach are likely located near 1,250.00 figure and 1,265.90 July high.

EUR/USD: Neutral (since 21 Aug 18, 1.1485): EUR is still weak, but prospect for a sustained break below the year-to-date low of 1.1297 is not that high. We highlighted yesterday, there is “ample room for EUR to weaken further to 1.1350”. EUR staged a minor bounce after ECB’s...

Forex Today experienced re-emergence of the risk-off sentiment in Asia this Friday, as the Yuan’s weakness added to ongoing market woes and dragged the risk assets sharply lower. The Asian equities and the US indices futures stalled the bounce and resumed the recent...

The EUR/JPY cross held on to its modest recovery gains, just above the 128.00 handle, and had a rather muted reaction to the latest ECB decision.The cross moved little after the ECB, at the October meeting, the reaffirmed to wind down its bond-purchase program by the end of this year and leave interest rates unchanged at least until next summer.

The pair has been trending lower along a short-term descending channel on the hourly chart and now seems to have stabilized near the 1.1400 handle, just above the trend channel support.Meanwhile, the fact that the pair remains well below important...

Gold reversed an early uptick back closer to over three-month tops and drifted into negative territory during the early European session.The overnight slump in the US equity markets had a spill-over effect on the Asian equity markets and underpinned the precious metal's safe-haven status at the start of Thursday's trading session.

The USD/JPY pair has managed to recover a major part of its early decline to over one-week lows and was now seen building on the momentum further beyond the 112.00 handle.The pair extended this week's retracement slide from the vicinity of the 113.00 handle and kept losing ground for the third consecutive session. The spill-over effect of the overnight rout in the US equities to the Asian markets on Thursday was seen underpinning the Japanese Yen's safe-haven appeal and eventually weighing on the major.

The pair kept losing ground through the mid-European session and is currently placed near the lower end of a short-term descending trend-channel, held over the past one-week or so.The fact that the pair remains well below important intraday moving averages - 50, 100 & 200-hour SMA, points to an extension of the ongoing bearish trajectory.

The GBP/JPY cross remained under some heavy selling pressure for the third consecutive session on Wednesday and dropped to fresh six-week lows in the last hour.Market expectations that the UK PM Theresa May will not accept the rumored EU offer of a UK-wide customs union as a way around the Irish backstop issue prompted some fresh selling around the British Pound.

The USD/CAD pair caught a fresh bid-wave and embarked upon a steady recovery mode to regain the 1.31 handle before meeting fresh supply at the last, as the bulls await the BOC monetary policy decision for the next push higher.The latest leg higher in the spot can be attributed to resurgent US dollar demand, mainly driven by a sell-off in the EUR and the GBP, in the wake of the European political woes. Moreover, markets prefer to hold the safe-haven US dollar in times of softer risk sentiment.

The AUD/USD pair surrendered early modest gains to levels beyond the 0.7100 handle and is currently placed at the lower end of its daily trading range. The pair built on previous session's late rebound from 1-1/2 week lows, with a combination of positive factors helping gains traction for the second consecutive session on Wednesday.

The pair struggled to build on overnight goodish rebound and was now seen retracing from an important horizontal resistance, near the 112.65 region.The pair now seems to be in the process of forming a bearish Head & Shoulders chart pattern on the 1-hourly chart, with neck-line support near the 111.95 region.

Gold extended its sideways price action on Wednesday and remained confined in a narrow trading range below $1235 level.After yesterday's strong upsurge to over three-month tops, and a subsequent retracement, the precious metal now seems to have entered a consolidation phase and was seen oscillating in a narrow trading range amid a combination of diverging forces.

After printing fresh daily tops in the boundaries of 1.1490, EUR/USD has now come under renewed selling pressure and is gyrating around the 1.1460 region.The pair clinched fresh session highs near 1.1490 in early trade following some selling pressure hitting the greenback along with declining US yields.

The Canadian dollar is trading sideways on Tuesday. Currently, USD/CAD is trading at 1.3106, up 0.04% on the day. On the release front, there are no Canadian events. In the U.S, the Richmond Manufacturing Index is expected to drop to 25 points. On Wednesday, the Bank of Canada is expected to raise the benchmark rate to 1.75%.

The US Dollar Index (DXY), which gauges the greenback vs. its main rivals, has faded another test of the 96.15/20 band and is now navigating the sub-96.00 area.

Spot remains under pressure and navigates the lower end of the recent range and close to October’s low at 1.1432.

Analysts at Deutsche Bank point out that yesterday, the British Pound had its worst day in a month, dropping around -0.85% versus the dollar as Brexit negotiations continued and Prime Minister May faced down the conflicting flanks of her governing coalition.

In light of CME Group’s preliminary data for GBP futures markets, investors added more than 5K contracts to their open interest positions at the beginning of the week vs. Friday’s final 216,471 contracts. On the other hand, volume dropped for the second session in a row by around 5.7K contracts.

The GBP/USD pair extended its intraday retracement slide from 100-day SMA and has now erased all of Friday's goodish rebound from two-week lows. The pair's early European session uptick quickly ran out of steam ahead of the 1.3100 handle, with a combination of negative factors prompting some fresh selling at the start of a new trading week.

The pair built on its steady intraday climb from 100-hour SMA support and touched a 1-1/2 week high in the last hour, inching back closer to the 113.00 handle. The pair has been trending higher alongside a bullish channel on the 1-hourly chart, with bulls now eyeing a sustained break through the channel resistance.

London stocks firmed up on Monday, with banks on the move higher and miners getting a lift after China stocks had their best day in more than two years. Sterling weakness was also boosting stocks as investors watched for Brexit updates with Prime Minister Theresa May is due to make a statement to the House of Commons on Monday.