Category: Greenback
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GBPUSD Technical Analysis – The greenback pressure persists
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Basic overview The US dollar remains under pressure amid aggressive market pricing in interest rate cuts and a better outlook for global growth in the wake of China’s recent massive easing measures. It’s now a battle between global growth, which is fueling risk appetite and weighing on the US currency,…
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EURUSD Technical Analysis – The greenback continues to get beaten up
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Basic Overview Yesterday, the US consumer confidence report surprised markets with the biggest decline since 2021. The labor market data in the report also fell significantly, and it generally leads the unemployment rate. The market has responded by raising the odds of a 50 basis point Fed rate cut in…
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USDCAD Technical Analysis – The greenback gets some relief
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Basic Overview Finally, the US dollar got some respite from last week after suffering for weeks. The focus now turns to the key data this week with the ISM Manufacturing PMI due today and the Non-Farm Payrolls report due on Friday. The market is awaiting key economic data this week,…
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GBPUSD Technical Analysis – The greenback came back with vengeance
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Basic overview The US dollar received support from strong US consumer confidence data which led to a strong rise in long-term Treasury yields. However, the report showed that the labor market remains resilient which is good news for growth and not necessarily bad news for inflation. The dollar also benefited…
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Greenback strength to persist on delayed Fed rate cut calls By Reuters
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Written by Sarobiya Ganguly BENGALURU (Reuters) – The US dollar’s rise will remain steady and may trade more strongly than expected in the coming months if policies from the Federal Reserve and other major central banks diverge, according to forex strategists polled by Reuters. The dollar has recovered from the…