EURCHF Exposed to Further Selloffs as it Hits 7½-Year Low
EURCHF tumbled to a fresh seven-and-a-half year low of 0.9875 on Wednesday, extending the sharp selloff that began on June 9. The momentum indicators are deep in negative territory so further losses are likely in the near term. However, there...
AUD/USD: Key Supports Under Pressure as Aussie Remains Weighed by Soured Risk Sentiment
The AUDUSD remains in red and pressuring key supports at 0.6761/58 (new two-year low, posted yesterday / 50% retracement of 0.5509/0.8007 rally). Soured risk sentiment on growing recession fears that boosted demand for safe-haven dollar, keep the Aussie dollar in...
Euro and Sterling Staying Weak, Dollar and Yen to Decide the Real Winner Soon
Recession fear is currently the main theme in the markets, with Euro and Sterling hardest hit in the currency markets. Canadian Dollar is somewhat a distant third weakest, as dragged down by oil prices. Nevertheless, Aussie and Kiwi are relatively...
Euro Hammered Broadly on Gas Crisis, Dollar and Yen Jump
Euro drops sharply and broadly today on renewed concerns over recession on gas crisis. The common currency is also taking other European majors lower. Dollar and Yen are currently the strongest ones on risk aversion. Commodity currencies are also weak,...
Aussie Slammed after RBA Hike
The Australian dollar is sharply lower on Tuesday. In the European session, AUD/USD is trading at 0.6796, down 1.0% on the day. RBA hikes by 0.50%, Aussie plunges The RBA delivered a 0.50% rate hike for a second straight month,...
GBPUSD Adopts Neutral Status above 2-year Low
GBPUSD formed a tiny neutral candlestick on Monday above Friday’s closing price of 1.2087 and below the nearby 1.2170 resistance territory. The refusal to return to the two-year low of 1.1932 could be a rosy sign that buyers are absorbing...
Aussie Shrugs RBA Hike, Yen Turning Softer
Aussie is trading in tight range after RBA delivered the 50bps rate hike as expected, and maintained tightening bias. Euro is currently the stronger one for the day, followed by Sterling. On the other hand, Yen is under some selling...
Canadian Business Outlook Remains Elevated Heading into the Summer
Business optimism ticked lower but remained elevated in the second quarter of 2022, according to the Bank of Canada Business Outlook Survey (BOS). The BOS indicator, a statistical summary of survey results, remained elevated at 4.85 in 2022Q2, though down...
Gold Price Analysis: Too Much Pressure
The Gold prices reached stability on Monday not far from $1,812 per troy ounce. The strong American currency still puts much pressure on the precious metal. Despite the significant market turbulence, demand for Gold as a “safe haven” asset is...
Aussie Recovers ahead of RBA Rate Hike, Overall Trading Subdued
Australian Dollar recovers broadly today, following recovery in European markets. Meanwhile, traders are also preparing for tomorrow’s RBA rate hike. New Zealand Dollar is also mildly firmer. On other hand, Yen is turning softer with Swiss Franc and Dollar. Euro...