USD/CHF could rebound to 0.9850 in the near term From a technical analysis perspective, USD/CHF has rebounded strongly from major support at 0.94 after dwelling on that level for several sessions. The risk/return ratio becomes again in favor of buying above this support and the powerful rebound opens the way to a potential reversal which … Read more
USD/JPY stabilizes after US inflation-driven drop The price of USD/JPY has fallen in recent weeks to return to test major support at 139. Despite the monetary policy differential in favor of the dollar, USD/JPY has fallen 8% since its peak on October 21 following somewhat less hawkish rhetoric from some Fed members and encouraging signs … Read more
The yuan falls on the significant divergence of monetary policy with the dollar The pressure is increasing on the Chinese yuan in the face of the divergence of monetary policies between the two central banks. The yuan has just sunk to its 2019-2020 lows and is now trading at its lowest level since 2008 against … Read more
Fed drives EUR/USD to new low The price of EUR/USD fell to a new low at 0.98 following the particularly hawkish tone of the Fed yesterday. The Committee admittedly raised its rates by 75 basis points as expected last night, but at the same time revised its rate projections for 2023 sharply upwards and downgraded … Read more
The yuan accentuates its decline while the dollar takes advantage of its safe haven aspect The yuan is increasingly under pressure against its US counterpart. The Chinese currency fell to its lowest level in almost two years due to the numerous headwinds on the economy. The world’s second largest economy is not only facing a … Read more
The EUR/USD dithers around the parity while waiting for the publication of the NFP EUR/USD price ended lower yesterday under pressure from better than expected US economic data. The euro is back to test its recent lows, continuing its seesaw movement around the parity threshold. The US ISM manufacturing index came out unchanged in August, … Read more
Gas jump sends euro plunging upstream of Jackson Hole Pressure mounted against the greenback on Monday. The EUR/USD plunged below parity for the first time since 2002 as soaring gas prices in Europe increasingly threatened the continent’s economies to plunge into recession. The price of gas in Europe jumped 13% on Monday after Gazprom announced … Read more
The dollar regains height while waiting for Jackson Hole The EUR/USD fell to a one-month low on Friday morning following reassuring economic figures in the United States. Weekly jobless claims came in unexpectedly lower as manufacturing activity in the Philadelphia district rebounded more than expected. These data are reassuring about economic activity, although they are … Read more
Disappointing Chinese statistics put pressure on the Australian dollar The pressure resurfaced on the Australian dollar following the very disappointing Chinese economic statistics published on Monday. Retail sales rose just 2.7% year on year (est. 4.9%) and industrial production 3.8% (est. 4.3%) while home sales fell 28 .6%, real estate investment by 12.3% and crude … Read more
USD/CAD could rebound from its support at 1.2820, but the ECB could prove decisive USD/CAD is coming back close to important short-term support at 1.2820, but the short-term rally could depend on the ECB this afternoon. A more hawkish than expected ECB, for example by raising rates by 50 basis points, would put pressure on … Read more