GBP/USD drifts lower for the second straight day amid some follow-through USD buying.Bets for a 25 bps Fed lift-off in June push the US bond yields higher and underpin the USD.The risk-on mood could cap gains for the safe-haven buck and lend support to the major. The GBP/USD pair kicks off the new week onContinue reading “GBP/USD drops to 1.2400 mark, fresh daily low amid sustained USD buying.”
Category Archives: Gold trading
EUR/USD Price Analysis: Not out of the woods yet.
EUR/USD stages decent support to the area above 1.0700.The resumption of the downside could retest 1.0635.EUR/USD rebounds from 2-month lows in the 1.0630 region and reclaims the area just beyond 1.0700 the figure on Thursday. The pair remains under heavy pressure and a breach of the May low at 1.0635 (May 31) could pave theContinue reading “EUR/USD Price Analysis: Not out of the woods yet.”
EUR/USD: Difficult life for the Euro at present.
Headwinds continue “I fear that short-term the Euro is unlikely to manage a sustainable recovery and that it might have to put up with exchange rates around 1.07 in EUR/USD.”“I would not be at all surprised if the market had adjusted its expectations for the CPI numbers a little. But nonetheless: if today’s inflation dataContinue reading “EUR/USD: Difficult life for the Euro at present.”
GBP/USD: Support around the 1.2275/2300 area may hold temporarily.
Economists at ING discuss EUR/GBP and GBP/USD outlooks.EUR/GBP can probably press support at 0.8650 “UK data is doing the most of the talking and it will probably be the jobs/wages data (13 June) or the May CPI data (21 June) which will be the key determinant on whether the market reins in aggressive tightening expectations.”Continue reading “GBP/USD: Support around the 1.2275/2300 area may hold temporarily.”