USDCAD shows bearish bias as it breaks key technical levels, including moving averages, retracement levels, and swing areas. Sellers in control below 1.4383 & 1.4402 levels.
Pound Sterling (GBP) retains a firm undertone. Investors are looking ahead to this week’s BoE policy decision and expecting a hold amid still sticky UK price trends, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Euro (EUR) traded narrowly for most of the overnight session before rallying from the upper 1.08s to retest Friday’s intraday high in the low 1.09 area in a spurt of gains through late morning European trade, Scotiabank's Chief FX Strategist Shaun Osborne notes, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is weaker as US equity futures dip in response to Treasury Secretary Bessent expressing no concern about recent equity market volatility and President Trump saying that reciprocal and sectoral tariffs will be announced on April 2, apparently upping the tariff ante yet again.
Increase in momentum suggests potential for NZD to continue to advance; it is unclear whether it can break and remain above the 0.5765/0.5775 resistance zone.
Scope for Australian Dollar (AUD) to rise further vs US Dollar (USD), but it does not seem to have enough momentum to test 0.6385 (there is another resistance at 0.6365).
All the UK action this week comes on Thursday. That's when we'll see both the next instalment of UK wage data and the Bank of England MPC meeting, ING's FX analyst Chris Turner notes.
Beyond all the uncertainty associated with this year's on-again-off-again US tariffs, one core theme weighing on US interest rates and equities has been the fear of a slowing US consumer.
The US Dollar Index (DXY), which tracks the US Dollar's (USD) performance against six major currencies, remains under pressure for the second straight session, hovering around 103.70 during Monday's European trading hours.
Includes key price levels for both bulls and bears, identifying profit targets in today's Gold Futures analysis. Find potential trade opportunities and market insights to support your trading decisions.
The Pound Sterling registers back-to-back bearish days, dropping some 0.14% on Friday against the Greenback after economic data from the UK revealed that the Gross Domestic Product (GDP) contracted.
Pound Sterling (GBP) is little changed on the session after UK GDP data fell 0.1% in the January month, a little weaker than forecast, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is trading slightly more firmly on the session, helped by an improvement in risk appetite that has lifted high beta FX generally, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USDCHF shows bullish momentum after testing critical levels during the week. Break above 200-hour moving average signals growing bullish sentiment. Buyers eye 38.2% Fibonacci retracement level at 0.88637 for further upside potential.
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