The GBP/JPY recovers and rallies for the second straight day, is up 0.43%, trades at 196.59, shy of reclaiming the 197.00, poised to finish the week with gains of over 0.40%. Market mood remains sour, but it was not an excuse for buyers to lift the cross-pair to fresh three-day highs.
The Euro recovers some ground against the US Dollar on Friday and is set to finish the week virtually flat as risk appetite deteriorates. This is taking place despite US President Donald Trump delaying a military intervention in the Israel–Iran conflict.
Silver (XAG/USD) remains under pressure for a third day in a row on Friday, retreating further after US President Donald Trump announced he would hold off for two weeks before deciding whether the US should step into the escalating Iran–Israel standoff.
Gold price trades flat on Friday and is poised to end the week with a nearly 1.90% loss, after US President Donald Trump delayed taking military action against Iran, opting instead for a diplomatic solution. At the time of writing, XAU/USD trades at $3,369, down 0.11%.
The Pound Sterling registers minimal losses during the North American session, after UK Retail Sales data disappointed investors, while the Greenback recovers some ground. Currently, the GBP/USD is trading at 1.3456, down 0.07%.
The price of the AUDUSD fell below the 200 bar MA on the 4-hour chart and trend line support (and to a new low for the week) but after all that, the break failed.
Gold (XAU/USD) is edging lower on Friday, trading around $3,368 at the time of writing, as the yellow metal extends its pullback from the weekly high near $3,452 recorded on Monday.
The Indian Rupee (INR) snaps its three-day losing run against the US Dollar (USD) on Friday, recovering modestly after hitting a three-month low the previous day.
The technicals allow traders to work through the news stories by defining risk and defining bullish and bearish bias. In the video I take a look at the key technical levels of play and explain why.
The Euro (EUR) is strong, up a decent 0.3% vs. the US Dollar (USD) as it outperforms all of the G10 currencies into Friday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Slight increase in downward momentum is likely to lead to a lower range of 7.1750/7.1930. In the longer run, US Dollar (USD) has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
US Dollar (USD) is expected to trade in a range, most likely between 144.80 and 145.80. In the longer run, there has been a tentative buildup in momentum; for a sustained advance, USD must first break and hold above 145.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Rebound in New Zealand Dollar (NZD) has scope to test 0.6025 against US Dollar (USD), but a sustained break above this level is unlikely. In the longer run, NZD must break and hold below 0.5940 before further declines are likely, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Swiss National Bank (SNB) cut rate 25bp to bring policy rate down to 0%, as widely anticipated. USD/CHF was last at 0.8165 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
US Dollar (USD) was a touch softer this morning alongside brent and gold. Dollar Index (DXY) gapped down today; last at 98.60 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Rebound in Pound Sterling (GBP) could test 1.3500 before a pause or pullback against US Dollar (USD) is likely; the strong resistance at 1.3520 is unlikely to come under threat.
The US Dollar keeps trading in a bullish trend with higher highs and higher lows against a weaker Yen and is on track to close the week 0.8% higher, despite the strong Japanese inflation figures seen earlier today.
The current price movements are likely part of a range trading phase between 1.1470 and 1.1540. In the longer run, Euro (EUR) is likely to trade in a range against US Dollar (USD) for now, probably between 1.1400 and 1.1570, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The USD/CAD pair holds steady near 1.3700 during the early European trading hours on Friday. However, fears of US involvement in Middle East conflict could spark demand for the US Dollar (USD), a safe-haven currency.
EUR/CAD extends its winning streak for the fifth consecutive day, trading around 1.5780 during the Asian hours on Friday. Technical analysis on the daily chart indicates a strengthening bullish bias as the currency cross moves upwards within the ascending channel pattern.
Silver (XA/USD) is seen prolonging its retracement slide from the highest level since February 2012 touched earlier this week and losing ground for the third consecutive day on Friday.
The GBP/USD pair continues to gain ground for the second successive session, trading around 1.3500 during the Asian hours on Friday. The bullish bias persists as the daily chart’s technical analysis indicates that the pair remains within the ascending channel pattern.
Silver price retreats on Thursday after back-to-back bearish days, as investors seeking safety buy the US Dollar (USD), pushing the US Dollar Index (DXY) to a six-day high of 99.15. Rising tensions in the Middle East grow as the US could be dragged into the conflict.
EUR/USD is virtually unchanged on Thursday amid deteriorating risk appetite and growing speculation that the United States (US) could become involved in the Middle East conflict.
The New Zealand Dollar (NZD) remains under pressure on Thursday, with NZD/USD sliding toward 0.5980 as the US Dollar extends gains. The pair broke below the 20-day Simple Moving Average (SMA) at 0.6012 and the lower edge of a rising wedge pattern, a move that suggests bullish momentum has faded.
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