AUD/JPY was seen trading around the 92.80 zone ahead of the Asian session, pulling back after two consecutive days of gains. Despite the decline, the pair remains above the 92.00 threshold, with technical indicators still in negative territory. Sideways trading could persist above 92.00 as the market awaits fresh momentum, with resistance at 93.50 and…
AUD/JPY may weaken as the Japanese Yen finds support from the Bank of Japan’s hawkish policy outlook. The Australian Dollar declines after Thursday’s disappointing Private Capital Expenditure data. RBA Deputy Governor Andrew Hauser highlighted that Australia’s tight labor market remains a challenge for managing inflation. AUD/JPY holds gains after two consecutive sessions of losses, trading…
EUR/GBP softens to around 0.8285 in Wednesday’s early European session. UK CPI inflation rose to 3.0% YoY in January vs. 2.8% expected. The dovish stance from the ECB might drag the Euro lower. The EUR/GBP cross weakens to near 0.8285 during the early European trading hours on Wednesday. The Pound Sterling (GBP) edges higher against the…
AUD/JPY rose as Australia Composite PMI revised upward to 50.2 in December, from the previous reading of 49.9. The Caixin China Services PMI increased to 52.2 in December, up from the previous reading of 51.5. Japan’s composite and services PMIs for December were revised downward, bolstering a dovish stance on the BoJ policy outlook. AUD/JPY…
NZD/JPY inches higher on Friday, touching 88.90 and holding recent upside momentum. MACD bars remain green but have flattened, signaling cautious optimism amid lingering downside risks. RSI moves up to 51, entering positive territory as buyers tentatively return. NZD/JPY added a modest 0.20% on Friday, climbing to 88.90 and building on the gains seen since…
AUD/JPY gains ground due to increased uncertainty surrounding the BoJ policy outlook. The AUD appreciated as the RBA Meeting Minutes emphasized the importance of maintaining a restrictive monetary policy. The risk-sensitive AUD could have faced challenges due to the escalating Russia-Ukraine conflict. AUD/JPY extends its winning streak for the third successive session, trading around 101.20…
USD/CAD regains footing as anticipation for another Bank of Canada interest rate cut mounts due to flat economic growth in August. US PCE core inflation remains at 2.7% in October, slightly above market expectations. US Initial Jobless Claims fell to 216K in the week ending October 25, below the market’s consensus. The USD/CAD pair gained…
EUR/GBP declined 0.10% on Tuesday and remains in a range, but bullish bias intact. RSI, flat MACD support a balanced outlook. EUR/GBP should hold above 0.8380 to confirm bullish bias. The EUR/GBP pair remains confined within a recent range and declined by 0.10% on Tuesday to 0.8380. However, the larger time frame bias remains bullish,…
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…
The negative outlook remains, RSI and MACD suggest bearish momentum. The multiple rejections by the 20-day SMA suggest that the buyer’s traction is too weak. A break from above mentioned average would improve the outlook. In Friday’s session, the EUR/GBP pair fell slightly by 0.15% to 0.8435, showcasing a negative technical outlook. Bears continue to…