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Market News

04.11.2019

EUR/USD

The EUR/USD pair inched higher at the start of the week and touched a daily top of 1.1176 in the early trading hours of the European session boosted by upbeat macroeconomic data releases from the euro area. However, with the dollar staging a decisive recovery against its major peers, the pair reversed its course and was last seen trading at 1.1145, erasing 0.2% daily.

USD/JPY

The USD/JPY pair lost 50 pips last week and started to retrace its drop on Monday. As of writing, the pair was trading at fresh session highs at 108.42, adding 0.25% daily. Although global risk headlines have been quite a few over the weekend, USD/JPY fails to extend its bounce off 100-day EMA amid the initial Asian session on Monday.

GBP/USD

The GBP/USD pair dropped further under 1.2900 and printed a fresh daily low at 1.2875. Near the end of the session holds around the lows with the bearish tone intact. The move lower late in New York took place amid a stronger US Dollar across the board. The DXY is 0.35%, having the best performance in a month. It climbed back above 97.50 as it recovers further after posting on Friday the lowest close in three months. The rally of the Greenback is being supported by higher US yields. The 10-year climbed toward the 1.80% area after trading under 1.70% on Friday.

21.10.2019

EUR/USD

The shared currency keeps the familiar range so far at the beginning of the week, prompting EUR/USD to move around the 1.1160 region. Spot is struggling to extend the rally for the fifth consecutive session on Monday despite climbing to fresh 2-month highs just below 1.1180 earlier in the session. The steady-to-bearish fashion around the Greenback and rising expectations around a final positive outcome in the Brexit process continue to sustain the upbeat sentiment in EUR and the rest of the risk complex.

USD/JPY

The USD/JPY pair struggled to make a decisive move in either direction last week and fluctuated in a relatively tight range above the 108 area. Although the pair climbed to 108.70 area during the European morning, it failed to preserve its momentum and has returned to 108.50 area in the early trading hours of the American session. As of writing, the pair was up 0.08% on the day at 108.51.

GBP/USD

The buying interest around the British Pound picked up some pace in the last hour and lifted the GBP/USD pair to fresh multi-month tops, around the key 1.30 psychological mark. The pair initially edged lower at the start of a new trading week in reaction to the weekend development, wherein the UK Prime Minister Boris Johnson failed to win parliamentary backing for his divorce deal and the parliament delayed a crucial vote on the Brexit agreement.

14.10.2019

EUR/USD

Boosted by the broad-based USD weakness seen on Thursday and Friday, the EUR/USD pair gained traction and closed the last week in the positive territory. With the market action turning subdued amid a lack of significant macroeconomic drivers on Monday, however, the pair struggled to push higher and retraced a portion of last week's gains. As of writing, the pair was down 0.17% on the day at 1.1020.

USD/JPY

The USD/JPY pair gained nearly 150 pips last week despite the broad-based selling pressure surrounding the USD as the upbeat market sentiment weighed heavily on the safe-haven JPY. After closing at 108.42, the pair struggled to preserve its momentum and retreated toward the 108 area before finding support there. As of writing, the pair was down 0.12% on the day at 108.27.

GBP/USD

The GBP/USD pair rallied over 100 pips from the mid-European session swing lows and surged beyond the 1.2600 handle in the last hour, back closer to the top end of its daily trading range. The pair stalled its sharp intraday pullback witnessed during the early part of Monday's trading action and managed to attract some decent buying interest just ahead of the key 1.2500 psychological mark, despite renewed Brexit related uncertainties.

08.10.2019

EUR/USD

The EUR/USD pair broke below 1.0960 and dropped to 1.0944, reaching the lowest level since last Thursday. The Euro pulled back against the Pound over the last hour and printed fresh lows versus the Swiss Franc. Meanwhile, the Greenback gained momentum again G10 currencies.

USD/JPY

The USD/JPY pair turned south in the European trading, having faced rejection once again just below the midpoint of the 107 handle, as the US dollar sheds the overnight gains across the board ahead of the US PPI data and Fed Chair Powell’s speech. The spot gained over 20-pips in the Asian session amid a risk-on market profile, as indicated by the rally in the regional equities and Wall Street futures amid renewed US-China trade optimism.

GBP/USD

The EU and the UK have been intensifying their accusations of each other's positions regarding Brexit. UK Prime Minister Boris Johnson and German Chancellor Angela Merkel have held an acrimonious telephone call early in the day. One British account of the conversation says that Merkel instructed Johnson to keep Northern Ireland in the EU customs union. In response, the source has said that Johnson told his German counterpart that reaching a deal would be impossible. GBP/USD has tumbled down, hitting the lowest since September 4.

01.10.2019

EUR/USD

EUR/USD has jumped above 1.09 after hitting a new two-year low of 1.0879. Resistance awaits at 1.0926 – the previous double bottom. Support awaits at 1.0905 which was the previous 2019 low. The US Dollar is falling across the board after the Purchasing Managers' Index for the manufacturing sector fell to 47.8 points – below expectations and under 49.1 points recorded in August. Any score below 50 represents contraction.

USD/JPY

After climbing to its highest level in two weeks at 108.46, the USD/JPY pair made a sharp U-turn in the last hour and fell into the negative territory on the daily chart after the uninspiring data from the United States weighed on the Greenback. As of writing, the pair was down 0.12% on the day at 107.94.

GBP/USD

The GBP/USD pair gained more than a hundred pips from day’s low over the last hours and not only erased losses, but printed a fresh high at 1.2337. As of writing, it is trading at 1.2315, posting the first daily gain after losing ground during the previous four days.

23.09.2019

EUR/USD

The sentiment around the shared currency remains depressed at the beginning of the week, although EUR/USD has managed to rebound from earlier multi-day lows in the 1.0970/65 band. Spot accelerated the leg lower below the key support at 1.10 the figure on Monday after flash PMIs in the core euro area (Germany, France and EMU) came in below estimates, falling deeper into the contraction territory and adding to the already deteriorated outlook in the region.

USD/JPY

The USD/JPY pair traded in a very tight range during the Asian session near the 107.70 mark but came under strong bearish pressure in the European morning after the disappointing Purchasing Managers Index (PMI) readings from the euro area and Germany revived concerns over a global economic slowdown and ramped up the demand for safe-haven assets such as the JPY.

GBP/USD

The USD buying picked up some pace in the last hour and dragged the GBP/USD pair to near one-week lows, around the 1.2425 region in the last hour. Having failed to capitalize on its early uptick to the vicinity of the key 1.2500 psychological mark, the pair came under some renewed selling pressure for the second consecutive session and was now seen extending the previous session's pullback from two-month tops.

16.09.2019

EUR/USD

After briefly testing the key resistance line just above 1.1100 the figure on Friday, the pair saw the selling pressure re-emerge in tandem with some risk-off tone following the developments in Saudi Arabia over the weekend. The selling bias around the European currency is gathering extra traction and is dragging EUR/USD to fresh daily/weekly lows in the vicinity of 1.1020.

USD/JPY

The USD/JPY started the week under pressure as reports of drone and missile attacks on Saudi oil facilities triggered an intense flight-to-safety during the Asian trading hours. In the second half of the day, however, the broad-based USD strength allowed the pair to stage a rebound. As of writing, the pair was down 0.05% on the day at 108.00.

GBP/USD

The GBP/USD pair extended its intraday pullback from multi-week tops and dropped to fresh session lows, around the 1.2425 region in the last hour. The pair, for the second straight session on Monday, struggled to build on its recent strong positive momentum further beyond the key 1.2500 psychological mark and witnessed some long-unwinding trade. A fresh wave of the global risk-aversion trade, triggered by escalating geopolitical tensions in the Middle East, benefitted the US Dollar's relative safe-haven status against its British counterpart and exerted some initial downward pressure on the major.

09.09.2019

EUR/USD

EUR/USD is navigating the area around Friday’s close in the 1.1030 region at the beginning of the week. The pair came under renewed selling pressure after climbing to the 1.1080 region last week, area coincident with the 21-day SMA. Poor data from the US manufacturing sector put the buck under strong selling pressure. The pair is expected to stabilize at current levels as markets get closer to the ECB gathering on Thursday. The recent up move to the upper 1.10s is still seen as corrective only, as results from the domestic docket keep the pressure intact on the single currency and support the need for ECB stimulus.

USD/JPY

After spending the large part of the day moving sideways near the 107 handle, the USD/JPY pair gained traction during the American trading hours and rose to a daily high of 107.18. As of writing, the pair was up 0.2% on the day at 107.12. The lack of major developments surrounding the US-China trade conflict and rising optimism about the Chinese economy gathering recovery momentum on the back of additional stimulus from the central bank allowed risk-on flows to dominate the market action at the start of the week.

GBP/USD

The GBP/USD pair peaked earlier today at 1.2384, the highest level since late July and recently pulled back to 1.2314 before rebounding back to the 1.2350 area, where it trades at the moment, up 65 pips from Friday’s close. The Pound lost momentum after approaching 1.2400 and spiked lower following the announcement of the speaker of the House of Commons on October 31.

02.09.2019

EUR/USD

The EUR/USD pair lost nearly 150 pips last week and started the new week below the critical 1.10 handle on Monday. With the Greenback preserving its strength and investors staying away from euro amid expectations of an aggressive dovish move by the European Central Bank, the pair extended its slide and touched its lowest level in more than two years at 1.0957.

USD/JPY

The USD/JPY pair, which slumped to its lowest level since late 2016 last Monday, closed the week with a gain of more than 100 pips supported by recovering US Treasury bond yields amid easing concerns over a prolonged US-China trade conflict and a broadly stronger USD. With the markets starting the new week in a relatively calm manner, the pair inched higher and was last seen trading at 106.35, adding 0.05% on the day.

GBP/USD

The political headlines and the disappointing PMI data from the UK put the British pound under heavy selling pressure on Monday with the GBP/USD pair slumping to its lowest level since mid-August at 1.2053. As of writing, the pair was trading at 1.2057, losing 0.88% on a daily basis.

26.08.2019

EUR/USD

The EUR/USD pair advanced to its highest level in more than ten days at 1.1166 during the early trading hours of the Asian session but failed to preserve its bullish momentum. With the Greenback erasing the losses it suffered on Friday following news of China imposing retaliatory tariffs and the Trump administration hiking the tariff rate as a response, the pair turned south in the second half of the day and tested the 1.11 handle in the last hour. As of writing, the pair was down 0.35% daily at 1.1105.

USD/JPY

The USD/JPY pair maintained its strong bid tone, albeit remained below the 106.00 handle post-US durable goods orders data. The incoming positive trade-related headlines led to a sudden turnaround in the global risk sentiment. The same was evident from a goodish up-move in equity markets, which weighed on the Japanese Yen's safe-haven status and prompted some aggressive short-covering move.

GBP/USD

The GBP/USD pair extended its steady intraday decline and is currently placed at the lower end of its daily trading range, around the 1.2235 region. The pair failed to add to its last week's goodish positive move and started retreating from levels just ahead of the 1.2300 handle amid a goodish pickup in the US Dollar demand – supported by the incoming positive trade-related headlines.

19.08.2019

EUR/USD

Occasional bullish attempts in the pair remain unable to gather serious traction, as prospects of ECB easing at the next month’s meeting keep weighing on investors’ sentiment. There is no news on the US-China trade front other than usual rhetoric from President Trump, ranging from ‘the deal is just around the corner’ to ‘the US is not ready to make a deal’. Markets, so far, have been practically ignoring the latest developments, however, remains vigilant on news coming from Germany and the likeliness that the government could announce some fiscal stimulus in order to boost the economy.

USD/JPY

The USD/JPY pair slumped to its lowest level since the flash market crash witnessed in January at 105.05 earlier today but made a technical correction before the next leg lower. As of writing, the pair was trading at 105.30, still losing 0.35% daily. The fact that the markets remain risk-averse amid several reasons suggest that the pair's rebound is unlikely to gather momentum as investors stay close to safer assets such as the JPY.

GBP/USD

With the fresh blow to British PM’s expectations of a deal with the EU, the GBP/USD pair declines to 1.2126 on Tuesday morning in Asia. In an effort to push the EU over Brexit negotiation table, the UK Prime Minister (PM) Boris Johnson wrote a four-page letter to the region’s leader Donald Tusk offering alternative arrangements of the Irish backstop. However, the EU firmly said, as per The Guardian, that the withdrawal agreement is not open for renegotiation and the backstop is not open for change.

12.08.2019

EUR/USD

The EUR/USD pair broke above 1.1225 during the American session and climbed to 1.1230 hitting a fresh daily high but if failed to hold and pulled back. It trades at 1.1215, modestly higher for the day and still moving in a 5-day range between 1.1160 and 1.1245. EUR/USD continues to trade in a consolidation range, as it has been the case since last Tuesday, moving between 1.1245 and 1.1160/70. Earlier today the pair tested the bottom of the range but rebounded sharply, approaching the top.

USD/JPY

The USD/JPY pair slumped to its lowest level since the flash market crash witnessed in January at 105.05 earlier today but made a technical correction before the next leg lower. As of writing, the pair was trading at 105.30, still losing 0.35% daily. The fact that the markets remain risk-averse amid several reasons suggest that the pair's rebound is unlikely to gather momentum as investors stay close to safer assets such as the JPY.

GBP/USD

GBP/USD is currently trading +0.43% higher between a range of 1.2014 and 1.2106. The pound took up a bid and corrected the recent UK Gross Domestic Product data-driven slide from a low of 1.2022 today's aforementioned high on news hat some UK lawmakers were drawing up plans to compel Boris Johnson to request a last-minute Brexit extension from the EU. In additional headlines, UK PM Johnson is planning a trip to Berlin and Paris to deliver Brexit demands and he also spoke to US President Trump today, discussing global economic issues & trade.

05.08.2019

EUR/USD

The EUR/USD pair continued gaining positive traction through the mid-European session on Monday and climbed to over one-week tops, around the 1.1175 region in the last hour. Bulls maintained their dominant position at the start of a new trading week and assisted the pair to build on its recent bounce from the vicinity of the key 1.1000 psychological mark - over 26-month lows set last Thursday in the aftermath of a hawkish rate cut by the Fed.

USD/JPY

The USD/JPY pair maintained its heavily offered tone through the mid-European session, albeit has managed to rebound around 30-pips from fresh multi-month lows set earlier this Monday. The pair remained under some heavy selling pressure for the third consecutive session on Monday and extended last week's sharp retracement slide from levels beyond the 109.00 handle - two-month tops set last Thursday in the aftermath of a hawkish rate cut by the Fed.

GBP/USD

The GBP/USD pair quickly reversed an early dip to the 1.2100 neighborhood and rallied around 35-pips on upbeat UK macro data, albeit lacked any strong follow-through. A follow-through US Dollar pullback - led the ongoing freefall in the US Treasury bond yields amid the global flight to safety, helped the pair to stall its intraday downfall and once again find some support near the mentioned handle.

22.07.2019

EUR/USD

After bottoming out in the boundaries of 1.1200 the figure, EUR/USD managed to regain some composure and is now back to the 1.1215/20 band. The pair remains well supported in the 1.1200 neighborhood so far today amidst the continuation of the buying bias around the buck and some fresh hopes on a US-China trade deal.

USD/JPY

The USD/JPY pair is having a hard time finding direction in the second half of the day and continues to move sideways below the 108 mark. As of writing, the pair was up 0.2% on the day at 107.90.Speaking at the International Monetary Fund's 2019 Michel Camdessus Central Banking Lecture, Haruhiko Kuroda, Governor of the Bank of Japan, said that the BoJ will persistently continue with powerful monetary easing with an aim to maintain the momentum toward achieving the 2% inflation target but these comments failed to trigger a reaction in the pair.

GBP/USD

The GBP/USD pair quickly recovered around 30-35 pips from daily lows, albeit lacked any follow-through and remained below the key 1.2500 psychological mark. After an initial uptick to levels beyond the 1.2500 handle, the pair met with some fresh supply and dropped to an intraday low level of 1.2456 in reaction to the UK Foreign Office Minister Sir Alan Duncan's resignation.

15.07.2019

EUR/USD

The EUR/USD pair continues to consolidate Friday’s bounce from near 1.1240 region, as the bears guard the 1.1275 barrier amid a broad US dollar rebound following last week’s declines. So far this Monday, the US dollar is seen extending its tepid recovery across the board from five-day lows of 96.72 amid an uptick in the 10-year Treasury yields, which keeps the upside capped in the spot.

USD/JPY

After spending the first half of the day near the 107.80 handle, the USD/JPY pair has gained traction in the last hour and posted small gains. Nevertheless, the pair remains stuck in its daily range and was last seen trading a little below the 108 mark. The lack of significant macroeconomic drivers today seems to be forcing the pair to fluctuate in a very tight range.

GBP/USD

The GBP/USD pair extended its steady intraday decline and dropped to fresh session lows, around the 1.2525 region during the early North-American session. The pair failed to capitalize on last week's goodish bounce from six-month lows and started retreating from a resistance marked by the 1.2575-80 supply zone, with a modest pickup in the US Dollar demand exerting some additional downward pressure in the last hour.

08.07.2019

EUR/USD

The EUR/USD pair lost more than 100 pips last week and started the day under modest bearish pressure on Monday with the shared currency struggling to find demand. After testing the 1.12 handle earlier in the American session, the pair staged a rebound and was last seen trading at 1.1215, losing 0.08% daily.

USD/JPY

After posting weekly gains for the second straight week, the USD/JPY pair staged a shallow technical correction on Monday but didn't have a difficult time finding support near 108.30. As of writing, the pair was posting modest daily gains at 108.53. Earlier today, Japan's Cabinet Office reported that machinery orders in May declined by 7.8% on a monthly basis following April's 5.2% growth and missed the market expectation for a decrease of 4.7%. Other data revealed that bank lending increased by 2.3% on a yearly basis in June to fall short of analysts' estimate of 2.8%. Nevertheless, investors largely ignored these data at the start of the week as they remain focused on the Fed's policy outlook.

GBP/USD

The GBP/USD pair failed to capitalize on its early uptick and has now retreated around 30-pips from an intraday high level of 1.2540.The US President Donald Trump's fresh criticism about the Fed's policy tightening triggered a modest US Dollar pullback from over two-week tops - touched in reaction to Friday's upbeat headline NFP print, and assisted the pair to gain some positive traction on the first day of a new trading week.

01.07.2019

EUR/USD

The EUR/USD pair dropped further during the American session on the back of a rally of the US Dollar across the board. As of writing trades at 1.1287, the lowest since June 21 and down 80 pips from yesterday’s close, having the worst day since March. The key driver has been a stronger US Dollar. It benefited after the meeting between US President Trump and Chinese President Xi on Saturday. They agreed to restart trade talks and boosted risk appetite and weakened the demand from US bonds. Over the last hours, US stocks moved off daily highs, but the greenback kept rising.

USD/JPY

The USD/JPY pair extended its sideways consolidative price action and held comfortably above the 108.00 round figure mark post-US ISM manufacturing PMI.The pair built on last week's goodish recovery move from multi-month lows and opened with a bullish gap in reaction to the latest positive trade-related development, wherein the US and China agreed to restart trade negotiations.

GBP/USD

The GBP/USD pair maintained its offered tone and dropped to over one-week lows, just below mid-1.2600s post-UK macro data. Having failed to capitalize on Friday's positive move back above the 1.2700 handle, the pair met with some fresh supply at the start of a new trading week in the wake of a goodish pickup in the US Dollar demand.

24.06.2019

EUR/USD

The EUR/USD pair reached 1.1400 earlier today for the first time since March 21st. It failed to break above and over the last hours it has been steadily moving in a small range between 1.1395 and 1.1385, consolidating daily gains. The Euro heads for the fourth consecutive daily gain as it continues to rally versus the US Dollar. An improvement in EZ economic data and mainly the expectations about a rate cut from the Federal Reserve continue to be the key drivers of the pair. Many analysts changed EUR/USD forecasts after the FOMC meeting of last week.

USD/JPY

The USD/JPY pair spent the first half of the day in a tight range below the 107.50 mark and staged a modest rebound during the American trading hours. As of writing, the pair, which touched a session top of 107.55, was trading at 107.41, adding 0.1% daily.

GBP/USD

With the UK PM candidate Boris Johnson’s sustained commitment to leave the EU on October 31 highlighting no-deal Brexit fears, the GBP/USD pair buyers fall short of cheering the broad US Dollar (USD) weakness off-late. With this, the Cable trades on the back foot around 1.2740 during the early Asian session on Tuesday.

18.06.2019

EUR/USD

The EUR/USD pair bottomed at 1.1180 earlier today, the lowest level in two weeks. The recovery was capped by 1.1210 and as of writing trades at 1.1190. Over the last hours, the pair has been consolidating daily losses, moving in the 1.1180/1.1210 range. The Euro was unable to hold on top of 1.1200 showing that still faces bearish pressure.

USD/JPY

The USD/JPY pair came under pressure on Tuesday as the sour market mood boosted the demand for traditional safe havens such as the JPY. As of writing, the pair was trading at 108.22, losing 0.32% daily. The USD/JPY pair quickly reversed an early North-American session dip to over one-week lows and rallied over 60-pips to refresh daily tops in the last hour

GBP/USD

The GBP/USD pair held on to its weaker tone through the early European session on Monday, with bears now eyeing a follow-through weakness below the 1.2700 handle post-UK releases. Having failed to capitalize on Friday's move beyond mid-1.2700s, the pair met with some fresh supply at the start of a new trading week amid a goodish pickup in the US Dollar demand.

10.06.2019

EUR/USD

The EUR/USD pair dropped to test the daily low at 1.1289 and rebounded toward 1.1320. It continues to move sideways, slightly below the level it close on Friday, hovering around 1.1300, consolidating most of last week gains. Equity prices in the US are higher today, supported by Trump’s announcement that tariffs on Mexico were "indefinitely suspended" that boosted Wall Street and the Mexican peso.

USD/JPY

The USD/JPY pair dropped further during the American session as equity prices trimmed gains in Wall Street. It dropped to 108.30, reaching the lowest since Friday but still above the level it closed that day.

GBP/USD

The GBP/USD pair held on to its weaker tone through the early European session on Monday, with bears now eyeing a follow-through weakness below the 1.2700 handle post-UK releases. Having failed to capitalize on Friday's move beyond mid-1.2700s, the pair met with some fresh supply at the start of a new trading week amid a goodish pickup in the US Dollar demand.

03.06.2019

EUR/USD

The EUR/USD pair rose to its highest level since May 13 at 1.1250 in the last hour as the greenback met a fresh selling wave following some dovish Fed commentary. Spot is advancing for the second day in a row on Monday, challenging 5-day peaks in the 1.1200 neighborhood against the backdrop of heightened trade concerns and declining yields.

USD/JPY

The USD/JPY pair struggled to capitalize on the intraday recovery from 4-1/2 month lows and remained capped below mid-108.00s post-US ISM PMI.Slight improvement in the global risk sentiment, as depicted by initial signs of stability in equity markets, dented the Japanese Yen's safe-haven status and turned out to be one of the key factors behind the pair's intraday bounce from the 108.00 neighborhood.

GBP/USD

The GBP/USD pair bottomed earlier today at 1.2609 and then recovered modestly, finding resistance below 1.2650. The move higher took place amid a decline of the greenback across the board. The US Dollar Index dropped to the lowest in a week at 97.55, affected by the improvement in risk sentiment and also by weaker-than-expected US data.

27.05.2019

EUR/USD

The EUR/USD pair hit a fresh low at 1.1186 and quickly pulled back to the previous range between 1.1200 and 1.1190. During the last hours it moved in a range of less than 15 pips, consolidating modest daily losses. Price action remains limited across financial markets following the European elections and amid a holiday in the US. Activity will likely return to normal on Tuesday.

USD/JPY

The USD/JPY pair is moving sideways in a very tight range on Monday as the trading volume remains thin amid the Memorial Day holiday in the U.S. As of writing, the pair was up 0.22% on a daily basis at 109.53.

GBP/USD

With one after the other British lawmakers filing their nominations to replace PM May, together with the Brexit party’s victory in the EU election, political moves at the UK have been highlighted recently. However, the GBP/USD pair showed little reaction as the UK markets were off on Monday. The quote trades near 1.2680 during early Tuesday.

22.05.2019

EUR/USD

The EUR/USD pair rose from levels near daily lows to 1.1224, hitting a fresh daily high. Then pulled back, being unable to hold on top of the key short-term level at 1.1220 and as of writing is hovering around 1.1200, marginally lower for the day but off daily lows. Earlier today, following the release of mixed US economic data, the pair bottomed at 1.1176, the lowest level since last Thursday. Retail sales in April dropped unexpectedly while industrial production contracted. The data had a limited impact.

USD/JPY

The USD/JPY erased all the gains it posted on Tuesday today but reversed its course in the NA session and retraced its daily fall. As of writing, the pair was down 0.1% on a daily basis at 109.50. Several news outlets today reported that Trump administration was planning to announce a 6-month delay to tariffs to be imposed on European car imports, causing stock markets to gain traction.

GBP/USD

Despite growing speculations over the UK PM May’s resignation, GBP/USD pulls itself back from the lowest since mid-January to 1.2665 during the initial Asian session on Thursday. Cable dropped yesterday even if the headline CPI grew more than 1.9% prior to the 2.1% on a yearly basis.

08.05.2019

EUR/USD

The EUR/USD pair failed to gather momentum above the 1.12 handle and changed its course in the American trading hours and slumped to a session low of 1.1183. Nevertheless, the fact that there wasn't a fundamental driver behind this recent action suggests that it's unlikely to deepen. As of writing, the pair was virtually unchanged at 1.1190.

USD/JPY

Following a dip below the critical 110 level earlier in the day, the USD/JPY pair staged a modest rebound in the last hour and was last seen trading at 110.16, losing only 9 pips on a daily basis.

GBP/USD

The GBP/USD pair is mildly bid around 1.3010 after positive news from the UK’s political platform started pleasing the British Pound (GBP) buyers on early Thursday. The pair remained on the back foot on Wednesday as not only failed to have any progress in cross-party Brexit talks but uncertainty surrounding PM May’s position also weighed on the sentiment. However, the market mood changed off-late after Bloomberg reported that Tories have stepped back from altering rules to challenge the UK Prime Minister Theresa May’s position.

01.05.2019

EUR/USD

After clinching fresh multi-day highs near 1.1240 in early trade, EUR/USD has now met some selling pressure and retreats to the 1.1230/25 band in the wake of US ADP report. Spot comes under some downside and retests the 10-day SMA in the 1.1230/25 band after the US ADP report surprised markets to the upside in April

USD/JPY

Although the FOMC didn't offer any surprises in its monetary policy statement, the greenback came under a renewed bearish pressure and caused the USD/JPY pair to extend its daily slide. As of writing, the pair was trading at 111.12, losing 0.27% on a daily basis.

AUD/USD

Like all other G10 currencies, AUD/USD also trims some of its past-FOMC losses as it trades near 0.7015 during the early Asian session on Thursday. The Aussie pair couldn’t withstand Fed’s Powell’s avoidance of hinting catalysts for a rate cut and tanked with all other majors during the aftermath of the US Federal Reserve decision.

22.04.2019

GBP/USD

The GBP/USD pair is on the bids near 1.2980 during the early Asian session on Tuesday. In spite of Easter recess at the UK parliament, the Cable recently weakened as chances that the British PM Theresa May will be ousted from her power grew. However, the latest news of the cross-party Brexit talks pleased the British Pound buyers.

EUR/USD

The EUR/USD pair rose further during the US session and continued to move slowly. It peaked at 1.1261, reaching the highest level since Thursday and is posting gains for the second-day in-a-row. Still remains far from Thursday’s level when it traded close to 1.1300 before falling sharply following weaker-than-expected Eurozone economic data.

AUD/USD

The AUD/USD pair held on to its mild weaker tone through the early European session on Monday and is currently placed at over one-week lows, around the 0.7140-35 region.

After a rather subdued/range-bound trading action on Friday, the pair met with some fresh supply at the start of a new trading week and extended last week's rejection slide from the very important 200-day SMA, levels just above the 0.7200 round figure mark.

15.04.2019

GBP/USD

The GBP/USD pair is trading sideways on Monday, consolidating modest gains. Cable rose during the Asian session and peaked at 1.3118 after the beginning of the US session. Over the last two hours, it has been moving between 1.3097 and 1.3117, holding an upside bias but limited. To the upside, the GBP/USD is facing a strong resistance around 1.3120 that is also the 20-day moving average. A daily close on top could point to more gains as it also would be the breakout of the current range. To the downside, the immediate support might be seen at 1.3055. A daily close clearly below 1.3030 would point to further losses, exposing 1.3000 and the April low at 1.2980.

USD/JPY

Earlier today the pair peaked at 126.78, the strongest since March 20 amid an improvement in risk appetite. But it failed to extend gains as equity prices trimmed gains. It kept trading sideways above 126.50, with the chart still pointing to the upside.

The price range so far on Monday has been of 35 pips, one of the lowest in months. Volatility among crosses remains low as USD/JPY traded most of the day around 112.00 and EUR/USD moved between 1.1325 and 1.1297.

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AUD/USD

The AUD/USD pair trades near 0.7170 during the early Asian session on Tuesday. The pair moved little on Monday due to lack of fresh directives. Though, the monotony is likely to breached soon as investors have started being cautious ahead of the RBA meeting minutes that are up for release in the next few hours.

08.04.2019

GBP/USD

There has not been much progress today as Brexit takes a middle seat as investors get set for the FOMC minutes this week and concentrate more so on equities and trade. The markets are focused on Article 50 and preparations for the possibility of the European parliamentary elections. It remains the government’s intention to leave the EU with a deal and pass the necessary legislation before 22 May as so that the UK does not need to participate in European Parliamentary elections.

USD/JPY

The USD/JPY pair bottomed earlier today at 111.27, the lowest level since March 3. During the US session recovered momentum and moved off daily low. The recovery was capped by the 111.50/552 area and as of writing trades at 111.45, down just 20 pips for the day, but big enough to be the worst day since March 22.

EUR/USD

Euro gains momentum after breaking above 1.1250. The EUR/USD pair rose further after the beginning of the US session and climbed to 1.1273, reaching a fresh 1-week high. From the top pulled back modestly and it is trading at 1.1260, up 45 pips, having the best performance since March 20.

01.04.2019

EUR/GBP

The quote rallied more than 50 pips to the high near 0.8600 after the UK’s House of Commons rejected all four Brexit options available for today’s voting. EUR/GBP dropped on Monday as slow data from the EU report of the dovish comments by ECB president Draghi weakened the Euro while the British Pound was stronger against most of its counterparts.

USD/JPY

USD/JPY was correcting lower from the 111.17 Asian session high, however it bottomed at 110.79 supported by the ISM report and recently peaked at 111.31 the highest level since March 20th.

EUR/USD

The EUR/USD pair started the week with a small bullish gap but struggled to push higher as the disappointing data releases from the euro area weighed on the shared currency. With the greenback gaining traction in the second half of the day, the pair erased all its daily gains and was last seen trading at 1.1223, where it was virtually unchanged on a daily basis. EUR/USD is currently trading at 1.1205, a touch off a low of 1.1204 printed in recent trade as the dollar firms across the board. EUR/USD is down from the 1.1250 high.

25.04.2019

EUR/USD

The EUR/USD rose further after the beginning of the American session and reached a fresh daily high at 1.1330. As of writing, trades at 1.1325/28, holding a bullish intraday bias. The upside is being supported by a decline of the US dollar across the board.

USD/JPY

The yen was the best performer on Friday and sent USD/JPY down from 110.80 to 109.74 for a six-week low which has now been exceeded. The pair had tried to correct but sellers are stepping in as Tokyo gets going with a risk-off tone following last week’s bearish diversion in yields and poor data releases from both Germany and the US.

GBP/USD

The GBP/USD pair is about to end the day hovering slightly below 1.3200, posting modest losses for the day. Earlier today peaked at 1.3243, the highest level since last Wednesday but the pulled back finding again support above 1.3160. UK Prime Minister Theresa May addressed Parliament today mentioning there is not enough support among MPs for a third attempt to vote her Brexit deal negotiated with the EU.

18.03.2019

EUR/USD

After moving to session tops in the 1.1360 region, EUR/USD faced some selling pressure and has now receded to the 1.1345/40 band. The pair keeps the move north unabated so far today, although it faced a strong hurdle in the 1.1360 region earlier in the day, where coincide the 55-day and 100-day SMAs.

USD/JPY

After closing the previous week with a modest 40-pip gain, the USD/JPY started the new week in a calm manner and is having a difficult time determining its next short-term direction. At the moment, the pair is virtually unchanged on a daily basis at 111.47.

GBP/USD

The GBP/USD pair was on bid around 1.3250 during the initial Asian session on Tuesday. The pair differed from Monday-end declines as soft US housing market figures again drew market attention toward dovish FOMC. The pair dropped during Monday after the UK parliament rejected the idea of Tuesday’s voting on the Prime Minister Theresa May’s third Brexit proposal.

11.03.2019

EUR/USD

The pair is adding to Friday’s gains and keeps recovering from the ECB-sponsored sell-off last Thursday, managing to come back after bottoming out in fresh 2019 lows in the vicinity of 1.1180.

USD/JPY

The USD/JPY pair, which lost nearly 100 pips last week, started the week in a calm manner and started to climb higher in the European session. At this time, the pair was trading at 111.25, adding 0.1% daily.

GBP/USD

The GBP/USD surged nearly 100 pips to 1.3290 at the start of Asian trading on Tuesday. The Cable carried its previous strength forward and rallied to fresh month high as speculations grew that the UK and the EU policymakers are nearing a deal. British parliamentary vote on the UK PM May’s Brexit proposal and the US inflation numbers will be crucial to watch today.

04.03.2019

EUR/USD

The selling bias around the European currency remains well and sound at the beginning of the week and is now forcing EUR/USD to the area of multi-day lows near 1.1330. The pair has quickly faded the initial optimism despite the better mood surrounding the risk-complex.

USD/JPY

The USD/JPY pair came under strong bearish pressure in the last hour and lost more than 30 pips to renew its daily low at 111.64. As of writing, the pair is trading at 111.70, losing 0.2% daily.

GBP/USD

With one after the other British lawmakers filing their nominations to replace PM May, together with the Brexit party’s victory in the EU election, political moves at the UK have been highlighted recently. However, the GBP/USD pair showed little reaction as the UK markets were off on Monday. The quote trades near 1.2680 during early Tuesday.

25.02.2019

EUR/USD

The greenback gained some momentum across the board during the US session. The EUR/USD pair retreated from 5-day highs at 1.1366 to 1.1340, erasing most of the day’s gains. As of writing, it trades at 1.1345, holding a negative intraday tone as it stands below the 20-hour moving average. Still, price action remains limit, with majors moving in small ranges.

USD/JPY

The USD/JPY finally broke out of its 2-week old trading range and touched its highest level since late December at 111.17. As of writing, the pair was trading a couple of pips below that level, gaining 0.45% on a daily basis.

GBP/USD

The GBP/USD pair struggled to find enough strength to rise above 1.31 on Monday and is now having a difficult time making a decisive move in either direction. At the moment, the pair is up 0.15% on a daily basis at 1.3070. Earlier today, the British pound gained some traction despite the fact that British Prime Minister Theresa May announced that the meaningful vote would take place on March 12.

18.02.2019

EUR/USD

EUR/USD keeps the positive performance well and sound at the beginning of the week and is now navigating the upper end of the range in the 1.1330/35 band, or new session highs. Optimism on an eventual deal in the US-China trade negotiations remains on the rise and keeps the sentiment in the risk-associated universe well propped up for the time being.

USD/JPY

The USD/JPY pair extended its steady intraday climb through the early European session and is currently placed at the top end of its daily trading range, around the 110.60 region. Growing optimism over a possible resolution of the US-China trade disputes, especially after both sides reported progress in last week's trade talks, continued weighing on the Japanese Yen's safe-haven status and assisted the pair to build on Friday's late rebound from 110.25 level.

GBP/USD

The GBP/USD pair is consolidating gains and remains near the highs, holding above 1.2900. Earlier today, it climbed to 1.2937, the strongest level since last Wednesday. During the last hours, it has been moving sideways, in a small range between 1.2910 and 1.2932. The pound is holding firm to daily gains and is the top performer among majors.

11.02.2019

EUR/USD

The EUR/USD pair extended its daily decline in the NA session and touched its lowest level since late November at 1.1267. As of writing, the pair was trading at 1.1271, losing 0.5% daily. Although there were no macroeconomic data releases from the U.S. today, a more-than-1% jump seen in the 10-year Treasury Bond yield allowed the DXY to extend its rally to its highest level of 2019 at 97.12. The index was last up 0.47% on a daily basis at 97.10.

USD/JPY

After closing the previous week nearly 40 pips higher, the USD/JPY pair started the week on a positive note and pierced through the 110 handle on its way to a fresh 2019 high of 110.31. As of writing, the pair was trading a couple of pips below that level, adding 0.44% on a daily basis.

GBP/USD

The GBP/USD pair dropped further during the US session as the greenback extended its rally across the board. Cable bottomed at 1.2843, hitting a 3-week low. During this time trades at 1.2855/60, about to post the lowest close since mid-January. After consolidating during three days, the pair broke to the downside resuming the move that started two weeks ago from levels on top of 1.3200.

04.02.2019

EUR/USD

EUR/USD failed to hold above the 1.15 mark last week, the EUR/USD pair has been having a rough time gaining traction. After starting the week on a sour note the pair extended its losses and touched a 5-day low of 1.1424. On Tuesday, Markit PMI is going to publish its Services PMI reports for the euro area and as well as the U.S. later in the day. If the PMI data does not disappoint tomorrow, we could see the shared currency come under a renewed pressure.

AUD/USD

AUD/USD is currently trading on the back-foot as the dollar continues with its upward correction and has now completed a 78.6% fibo retracement of the Fed sell-off in the DXY at 95.80, currently trading at 95.84, hitting a high of 95.92 and is well on the way to a 100% retracement at 95.98. AUD/USD has dropped to a low of 0.7211 however, US yields are holding up which should underpin the downside in the Aussie market as we lead in towards the RBA tonight.

GBP/USD

The GBP/USD bottomed minutes ago at 1.3039, the lowest level in a week and then bounced quickly, rising to 1.3103, hitting a fresh daily high. The 1.3040/50 zone continues to be a strong barrier that if broken could clear the way to more losses.

28.01.2019

EUR/USD

The EUR/USD pair started the week on a positive note and rose to a fresh two week high of 1.1443 before going into a consolidation phase. As of today, the pair was up 0.15% on the day at 1.1430. With investors staying away from the dollar ahead of this week's FOMC meeting, the pair was able to gain some momentum on Friday's rally. Following last Friday's report about the Fed possibly ending its balance sheet reduction scheme earlier than initially planned, USD bulls take a back seat amid the possibility of a dovish shift in the FOMC's language.

AUD/USD

There was a small amount of action on the Aussie overnight. Investors brace themselves for the week ahead, the Aussie is closely linked to risk and AUD/JPY is the one to watch. If the yen picks up the pace, threatening a break of the 109-handle vs the dollar, Aussie will likely be weighed up

GBP/USD

GBP/USD all the attention on Brexit vote , the sharp move up in Cable appears to be interrupted at the start of the week amidst increasing weariness among investors in light of the parliamentary vote on May’s Brexit Plan B. the UK Parliament will vote tomorrow on PM May’s surrogate plan for the UK-EU divorce. Therefore GBP is expected to trade within a trending mood as markets get closer to the Brexit discussions.

18.01.2019

EUR/USD

The EUR/USD pair fell to 1.1353 on Friday, a level last seen on Jan. 4, and closed convincingly below the 50-day moving average (MA) for the first time.

A close below the key MA is backed by the bearish crossover between the 5- and 10-day MAs.

GBP/USD

GBP/USD's fate now depends on how the EU will respond to her fresh proposals when she heads to Brussels, in due course, with a revised approach to the 'backstop' which is The Commons are currently divided upon. At this Parliament continues to muddle through options, but as May seeks to leave the EU with a deal and a soft Brexit, the markets are taking up more of the positives than the negatives at this stage,

EUR/JPY

EUR/JPY is moving towards a break of key support at 124.45/50 as the consolidation of recent correction wears thin. We have the ECB this week, which will likely do nothing although as Europe edges closer to a recession and the risks of a hard Brexit on the horizon should be detailed and worth a listen. Analysts at Commerzbank explained that EUR/JPY faces tough resistance offered by a double Fib at 125.50 and we would allow for some further near-term weakness:

08.01.2019

GBP/USD

The GBP/USD pair came under a renewed selling pressure after the British government lost the vote, 303 to 296, on the amendment to change the budget legislation to limit ministers' tax powers in a no deal scenario. As of writing, the pair was losing 0.6% on the day at 1.2710.

Earlier today, British Prime Minister Theresa May's spokesman said that the finance bill amendment was not wanted but its effect would be a slight hindrance rather than anything more significant.

AUD/USD

AUD/USD has been bolstered by a slump in the dollar, despite the surprise to November's Chicago PMI that had initially sent yields in the US higher, widening the AU/USD spread and subsequently weighing on the currency pair.

NZD/USD

The US dollar was stripping the bird of its glory overnight in a correction back towards the 96 handle in the DXY as risk appetite began to fade on old news that was starting to wear somewhat thin. However, the optimism over Sino/US trade talks continued to boy US stocks that closed in a sea of green for a third consecutive day with the DJIA camping out above the 32.8% fibo of the Dec decline

01.01.2019

GBP/USD

GBP/USD was lively into the year-end, rallying from 1.2681 to a high of 1.2814 on the back of comments made by Foreign Minister Hunt. Bulls caught on to his suggestion that May's deal could pass the Parliament if the EU provides clarification that the Irish backstop will be temporal. Also, senior Brexiteer minister Liam Fox said that there is a 50 - 50 chance the UK will not leave the EU on 29 March if MPs reject Theresa May's Brexit deal next month.

Moving forward, we move into the US NFP (Nonfarm Payrolls) event at the end of the week, December Markit Manufacturing PMI will be out this Wednesday, expected at 52.5 vs. 53.1 in November.

AUD/USD

AUD/USD has been bolstered by a slump in the dollar, despite the surprise to November's Chicago PMI that had initially sent yields in the US higher, widening the AU/USD spread and subsequently weighing on the currency pair.

NZD/USD

NZD/USD moves its way into 2019 following a rocky end to the year for risk. Domestically, the most recent data came with consumer confidence ending the year on a buoyant note, rising from 118.6 to 121.9 in December.