EUR/GBP sold off again for the second day Thursday. Strong pound demand exerted pressure on the pair The euro benefitted from a weaker USD which could limit losses ahead of the ECB. A jump in demand for the British pound pulled EUR/GBP to an eight-month lows, at 0.8830 in early European trade. The pair declined […]
US major stock indices rallied to fresh all-time highs on Wednesday boosted by upbeat earnings. Wall Street’s risk-on tone reflects an improved economic outlook.US Covid cases have been declining, albeit remain high. The Biden administration plans on 100 million Covid vaccine doses being administered within the next 100 days. Markets are also pricing in a […]
USD/CAD trades sideways through the mid-European session. The upbeat market mood dragged on the safe-haven USD limiting the pair’s upside. A softer tone surrounding oil prices undermined the CAD limiting deeper losses. USD/CAD steadies around 1.26 after sliding overnight to fresh multi-year lows. A combination of diverging forces led to range-bound trading through most of […]
EUR/USD advances past 1.21. Risk appetite supports the common currency. ECB’s monetary policy decision due later EUR/USD advances to trade once more above1.2100 in the second half of the week. EUR/USD looks to ECB EUR/USD pares Wednesday’s losses and pushes over 1.2100 driven by greenback weakness. The reflation trade is back with rising risk sentiment […]
GBP is benefiting from rising risk sentiment in the markets on optimism that US President Joe Biden will push his $1.9 trillion stimulus program through Congress. GBP/USD struggles to meaningfully move above resistance at 1.37. Should it break1.37the next resistance level is above the 1.38. GBP/USD STRUGGLES AT 1.37 GBP/USD has made several attempts to […]
Indian Rupee (INR) ranked bottom for Asia’s currency ranking RBI expected to continue US Dollar purchases US Dollar (USD) trades lower versus majors on risk outflows Jobless claims +900,000 The US Dollar Indian Rupee (USD/INR) exchange rate trades higher on Thursday after paring some of the losses from the previous session. The pair settled -0.4% […]
Pakistan Rupee (PKR) weakens Current account records $662 million deficit US Dollar (USD) trades lower versus majors in risk outflows US jobless claims in focus The US Dollar Pakistan Rupee (USD/PKR) exchange rate trades higher on Thursday after finishing flat in the previous session. The pair settled -0.0% at 160.10 on Wednesday. At 11:45 UTC, […]
Euro (EUR) rises in risk on trade ECB expected to keep policy unchanged US Dollar (USD) eases lower on stimulus hopes Jobless claims to remain elevated The Euro US Dollar (EUR/USD) exchange rate trades higher on Thursday, paring losses from the previous session. The pair settled on Wednesday at -0.1% at US$1.2114 after picking up […]
GBP/INR bounced back on Thursday after dropping 0.20% in the previous session. However, the pair is trading near the resistance line of a horizontal channel and is still about to break above it. If it happens, the price will update the highest level in over five years. At the time of writing, one British pound […]
Better than forecast inflation data helped to lift the Pound on Wednesday and follow through buying continues to lift sterling. The Pound Euro (GBP/EUR) exchange rate is pushing higher through €1.13, building on gains from the previous session. Hopes that the accelerating vaccination programme could see the UK start to ease out of lockdown in […]
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