Euro picks up favoured by a weaker US Dollar but remains within previous ranges
Euro picks up favoured by a weaker US Dollar but remains within previous ranges
Market narrative
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Euro picks up favoured by a weaker US Dollar but remains within previous ranges
Forex
NZD/USD Price Forecast: Bulls await breakout above 0.5840-0.5845 confluence on weaker USD
British Pound: Advance stalled with neutral range view against US Dollar – UOB
Gold: Rebound needs softer Oil and data – OCBC
The Pound to Dollar (GBP/USD) exchange rate rallied on Tuesday after softer-than-expected US inflation data prompted investors to scale back expectations for another Federal Reserve interest rate hike. At the time of writing, GBP/USD was trading around $1.3411, up approximately 0.5% on the day.
Silver Price Forecasts: XAG/USD holds below $59.00 despite US Dollar's weakness
USD/JPY Price Forecast: Reflects volatility contraction amid triangle formation
Euro: Range-trading bias around recent highs against US Dollar – UOB
The Pound to Australian Dollar (GBP/AUD) exchange rate edged lower on Tuesday as stronger Australian confidence data and robust Chinese trade figures supported the ‘Aussie'. At the time of writing, GBP/AUD was trading at AU$1.9254, down around 0.2% on the day.
Pound Sterling Price News and Forecast: GBP/USD rises amid soft US inflation data
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
EUR/USD Price Forecast: Bulls remain cautious below 23.6% Fibo. and 1.1470 hurdle
AUD/JPY Price Forecast: Gains traction above 113.00, bullish trend stays firm above 100-day SMA
By the time the Bank of Canada announces its policy decision today, the Canadian Dollar has already built a powerful foundation for further gains. USD/CAD has fallen to its lowest level in nearly a month, supported not by a single catalyst but by three reinforcing forces: a broad retreat in the US Dollar after softer inflation data, higher oil prices that strengthen Canada's export outlook, and growing expectations that the Bank of Canada may sound more hawkish than markets anticipated only a week ago.
Gold edges lower as elevated oil prices bolster Fed hike prospects and offset soft USD