FX Weekly Recap: May 20 – 24, 2024
Hawkish interest rate bets kept the dollar supported while positive U.K. and Euro Area data releases drew in bullish demand for EUR and GBP.
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EUR/GBP breaks below 0.8400 following UK Retail Sales data
EUR/GBP extends its decline as the Pound Sterling gains support from the BoE’s decision to maintain its interest rate. UK Retail Sales rose by 1.0% MoM in August, following a prior increase of 0.5%. Germany’s Producer Price Index (MoM) recorded a consistent increase of 0.2% for August. EUR/GBP continues to lose ground, trading around 0.8390…
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EUR/AUD Daily Outlook – ActionForex
Daily Pivots: (S1) 1.6668; (P) 1.6757; (R1) 1.6833; More… EUR/AUD edged higher to 1.6842 but quickly retreated. Intraday bias remains neutral first. On the upside, above 1.6842 will extend the rebound from 1.6125 to 38.2% retracement of 1.8554 to 1.6125 at 1.7053. However, break of 1.6561 minor support will argue that the rebound has completed,…
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QuantumSwift FX Scalper MT4 (Update 20/09) – Free Download
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USD/CAD Outlook: Weakening Buyers Amid Fed, Stable Oil Prices – Forex Crunch
The USD/CAD outlook stays positive near 1.3950 amid cautious sentiment. The dollar stays pressured due to the ongoing US government shutdown and dovish Fed rate cuts. The Canadian dollar strengthens due to stable oil prices and a balanced BoC Outlook. The USD/CAD outlook maintains a positive stance as the pair holds near 1.3950, signaling minimal…
