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EUR/USD dives further as US Dollar rallies ahead of a data-packed week
EUR/USD has opened the week on the same soft tone that closed the previous one. The pair trades at four-week lows of 1.1690 at the time of writing, with traders trying to look ahead to the US intervention in Venezuela into a slew of key US macroeconomic releases due later in the week.
GBP/JPY Price Forecast: Resistance at 211.50 keeps holding the Pound
The Sterling has failed, once again, to break above the resistance area at 211.50, where it was capped on December 22 and 26, and is trading lower on Monday. Technical indicators hint at a weaker bullish momentum, although the pair has not shown a clear sign of a trend shift as of yet.
Spain Unemployment Change: -17K (December) vs -18.805K
Spain Unemployment Change: -17K (December) vs -18.805K
USD/CHF holds ground near 0.7950 as Swiss Real Retail Sales miss forecasts
USD/CHF remains firm following the weaker-than-expected Swiss Real Retail Sales, which rose 2.3% year-over-year in November, falling short of the expected 2.9% but coming above the prior 2.2% increase (revised from 2.7% increase).
Silver Price Forecast: XAG/USD rises to near $72.50 due to bullish bias
Silver price (XAG/USD) gains nearly 4%, trading around $75.50 during the European hours on Monday. The technical analysis of the daily chart timeframe suggests the price of the precious metal remains within an ascending channel pattern, suggesting a persistent bullish bias.
Switzerland Real Retail Sales (YoY) registered at 2.3%, below expectations (2.9%) in November
Switzerland Real Retail Sales (YoY) registered at 2.3%, below expectations (2.9%) in November
Forex Today: US Dollar extends recovery as markets react to US strike on Venezuela
Here is what you need to know on Monday, January 5:
Japanese Yen recovers slightly from two-week low against USD; upside seems limited
The Japanese Yen (JPY) recovers slightly from a nearly two-week low, touched against a broadly firmer US Dollar (USD) earlier this Monday, though retains its negative bias heading into the European session.
Turkey Consumer Price Index (MoM) came in at 0.89% below forecasts (0.98%) in December
Turkey Consumer Price Index (MoM) came in at 0.89% below forecasts (0.98%) in December
Australian Dollar dips as US Dollar gains ahead of ISM PMI
The Australian Dollar (AUD) holds losses against the US Dollar (USD) following the release of China’s RatingDog Services Purchasing Managers’ Index (PMI) on Monday, which declined to 52.0 in December from 52.1 in November.
Turkey Consumer Price Index (YoY) came in at 30.89%, below expectations (31%) in December
Turkey Consumer Price Index (YoY) came in at 30.89%, below expectations (31%) in December
USD/CAD gathers strength above 1.3750 ahead of US ISM Manufacturing PMI report
The USD/CAD pair edges higher to near 1.3770 during the early European session on Monday. Nonetheless, a rise in crude oil prices following the United States’ (US) capture of Venezuelan President Nicolas Maduro could lift the commodity-linked Loonie against the US Dollar (USD).
NZD/USD loses ground to near 0.5750 on Venezuela raid, geopolitical risks
The NZD/USD pair attracts some sellers to around 0.5755 during the early European session on Monday. The US Dollar (USD) edges higher against the New Zealand Dollar (NZD) on the global flight to safety, bolstered by rising geopolitical tensions.
Netherlands, The Retail Sales (YoY): 3.9% (November) vs 3.1%
Netherlands, The Retail Sales (YoY): 3.9% (November) vs 3.1%
Netherlands, The Retail Sales (YoY) up to 3.3% in November from previous 3.1%
Netherlands, The Retail Sales (YoY) up to 3.3% in November from previous 3.1%
Netherlands, The Retail Sales (YoY) fell from previous 3.1% to 1.9% in November
Netherlands, The Retail Sales (YoY) fell from previous 3.1% to 1.9% in November
WTI falls to near $57 as US pledges to build Venezuela Oil infrastructure
West Texas Intermediate (WTI), futures on NYMEX, trades 0.4% lower to near $57.00 in the late Asian trade on Monday.
AUD/JPY rises to near 105.00 as fiscal concerns weigh on Yen
AUD/JPY remains in the positive territory, trading around 104.90 during the Asian hours on Monday. The currency cross remains stronger as the Japanese Yen (JPY) faces pressure amid fiscal concerns over Prime Minister Sanae Takaichi’s large-scale spending plans to spur growth.
Pound Sterling Price News and Forecast: GBP/USD may find the primary barrier at the nine-day EMA
GBP/USD extends its losses for the second successive session, trading around 1.3420 during the Asian hours on Monday.
EUR/GBP declines to near 0.8700 on Ukraine-Russia tensions
The EUR/GBP cross loses traction to near 0.8700 during the early European session on Monday. The cross edges lower amid rising geopolitical tensions in Ukraine and a cautious tone surrounding the Bank of England’s (BoE) policy outlook.
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