USD/JPY extends the latest pullback from 107.50 following mixed data from Japan. Japanese Current Account balance strengthened, Trade Balance recovered in May but June month Bank Lending eased. The fresh risk aversion wave, backed by the virus woes, US-China tension, favor the US dollar recovery. Japan’s Nishimura suggests urgent coronavirus countermeasures, BOJ marks hike in […]

AUD/USD pulls back from session highs, confirming a bearish divergence of RSI.  The pair risks a deeper drop to the 50-hour SMA support.  AUD/USD has failed to take out resistance at 0.70 ahead of the all-important Reserve Bank of Australia (RBA) interest rate decision. The pair is currently trading near 0.6970, having hit highs above 0.70 two hours

USD/CAD extends Wednesday’s recovery moves from 1.3546. WTI remains sluggish below $40.00, trading sentiment also struggles for clear directions. Virus woes prevail, US and China stay at loggerheads but markets stay cautious before the US NFP. USD/CAD prints mild gains of 0.10% while taking the bids near 1.3600 during the early Thursday. In doing so,

USD/CAD stays pressured after failing to keep the bounce off 1.3650. A descending trend line from May 10, an upward-sloping line from June 10 question short-term sellers. Bulls await a clear break of 1.3715 for fresh entries. USD/CAD recedes to 1.3660 during Tuesday’s Asian session. Even so, the loonie pair stays above a short-term descending trend line,

USD/ZAR looks south with a range breakdown on the daily chart.  Key indicators favor a test of deeper support levels.  USD/ZAR is trading at 17.1773 at press time, representing a 0.30% gain on the day.  The bounce could be short-lived, as the daily chart studies are reporting bearish conditions. To start with, Thursday’s 1.34% decline, the biggest single-day

EUR/JPY surrenders gains as US stock futures drop.  Covid-19 fears and host of other factors keep risk assets under pressure.  The bid tone around the anti-risk Japanese yen strengthened, pushing the EUR/JPY back to the daily opening rate of 120.43 from the session high of 120.57 after the US index futures resumed the overnight decline/

NZD/USD faces selling pressure after dovish comments by the RBNZ. The central bank is committed to providing additional stimulus if required.  RBNZ kept rates and the QE program size unchanged, as expected. The offered tone around the New Zealand dollar strengthened, pushing the NZD/USD pair lower from 69.26 to 68.77 following the Reserve Bank of New

GBP/USD has suffered from insufficient BOE support and coronavirus concerns. Preliminary UK PMIs, US investment and consumption figures, and coronavirus developments are eyed. Mid-June’s daily chart is showing bears are gaining some ground. The FX Poll shows experts are bearish in the short and medium terms. Bailey has bailed out – the insufficient central bank support has

USD/CAD drops below the 100-hour simple moving average (SMA) support in Asia.  Dollar extends Monday’s sell-off as President Trump plans to deliver additional stimulus.  Stock markets are flashing green and adding to bearish pressures around the US dollar.  USD/CAD has breached key SMA support with the dollar losing ground across the board.  The pair is

EUR/USD trades on the defensive and slips back to 1.1240. The dollar looks bid and weighs on the pair’s outlook. EMU’s Trade Balance figures, US Empire State Index in the limelight. The single currency has started the week on a negative note and is now dragging EUR/USD to daily lows in the 1.1230/25 band. EUR/USD weaker on