EUR/USD is expected to keep the side-lined trading well and sound for the time being, noted FX Strategists Lee Sue Ann and Quek Ser Leang.
Key Quotes
24-hour view: “We expected EUR to ‘consolidate and trade between 1.0445 and 1.0550’ yesterday. EUR subsequently traded within a narrow range of 1.0473/1.0545 before closing slightly higher at 1.0509 (+0.10%). Momentum indicators are mostly neutral and further consolidation would not be surprising. Expected range for today, 1.0470/1.0560.”
Next 1-3 weeks: “There is not much to add to our update from yesterday (20 Jun, spot at 1.0485). As highlighted, EUR is likely to consolidate and trade within a range of 1.0350/1.0650.”
EUR/USD: Recovery remains capped below 1.0550, focus shifts to Powell
EUR/USD is struggling to extend Monday’s rebound in the Asian session. The US dollar corrective mode remains intact amid an improved mood. Lagarde waters down hopes for a double-dose rate hike in July.
EUR/USD News
GBP/USD consolidates the rebound above 1.2250 amid USD weakness
GBP/USD is looking to build on the previous day’s recovery, as bulls keep their sight on the 1.2300 barrier amid an upbeat market mood. Risk flows extend into Asia this Tuesday, as bears take a breather after last week’s rout in global stocks. The improved appetite for riskier assets dulls the safe-haven appeal of the US dollar, boding well for the high-beta British pound.
GBP/USD News
Gold sticks to range play near $1,850 ahead of Powell
Gold Price keeps moving back and forth in a familiar range near $1,850. Risk tone remains in a better spot as investors take a pause after the sell-off. Powell’s testimony holds the key for the next directional move in XAUUSD.
Key Quotes
24-hour view: “We expected EUR to ‘consolidate and trade between 1.0445 and 1.0550’ yesterday. EUR subsequently traded within a narrow range of 1.0473/1.0545 before closing slightly higher at 1.0509 (+0.10%). Momentum indicators are mostly neutral and further consolidation would not be surprising. Expected range for today, 1.0470/1.0560.”
Next 1-3 weeks: “There is not much to add to our update from yesterday (20 Jun, spot at 1.0485). As highlighted, EUR is likely to consolidate and trade within a range of 1.0350/1.0650.”
EUR/USD: Recovery remains capped below 1.0550, focus shifts to Powell
EUR/USD is struggling to extend Monday’s rebound in the Asian session. The US dollar corrective mode remains intact amid an improved mood. Lagarde waters down hopes for a double-dose rate hike in July.
EUR/USD News
GBP/USD consolidates the rebound above 1.2250 amid USD weakness
GBP/USD is looking to build on the previous day’s recovery, as bulls keep their sight on the 1.2300 barrier amid an upbeat market mood. Risk flows extend into Asia this Tuesday, as bears take a breather after last week’s rout in global stocks. The improved appetite for riskier assets dulls the safe-haven appeal of the US dollar, boding well for the high-beta British pound.
GBP/USD News
Gold sticks to range play near $1,850 ahead of Powell
Gold Price keeps moving back and forth in a familiar range near $1,850. Risk tone remains in a better spot as investors take a pause after the sell-off. Powell’s testimony holds the key for the next directional move in XAUUSD.
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