Forex News

EUR/USD trades in a narrow band at the start of the week. Modest increase in US Treasury bond yields limits EUR/USD's upside. Retail Sales in the euro area rose more than expected in February. After staying below 1.1900 during the Asian trading hours, the EUR/USD pair gained traction during the European session but struggled to…

XAU/USD is in the hands of the bears, but it could be a short-lived victory. The bulls are seeking a discount from a solid support. Gold is testing a critical area of support and the bears remain in control at this juncture. However, there is a probable cause for the upside on failures at a…

The economic recovery in the US depends on vaccines remaining effective against the new variants of the virus, Boston Federal Reserve President Eric Rosengren said on Monday but noted that they should experience a significant rebound, per Reuters. Additional takeaways "The current highly accommodative stance of monetary policy is appropriate." "Labor-market slack is still significant and inflation…

GBP/USD meets a key resistance while the dollar gives back some ground. Bears target another pop at the critical support from a daily perspective. GBP/USD maintains the bid at the start of the week, holding in at support as defined by the prior resistance. Cable is trading up some 0.3% at the time of writing,…

The Business Outlook Survey released by the Bank of Canada on Monday, showed that futures sales balance jumped to the highest since 2009, recovery remains uneven and that inflation expectations edged higher, but remain in the central bank's target range, explained analysts at RBC Capital Markets.  Key Quotes:  “Businesses were more confident in the economic recovery…

Analysts at Capital Economics argue that despite the recent recovery of the EUR/USD pair, they still expect the euro to weaken further against the US dollar later this year. They expect the rebound in the euro to be short-lived.  Key Quotes: “We think that the fast rate of vaccination, falling virus case numbers and an…

GBP/JPY is moving in a range between 149.80 and 150.60. The pound still shows some vulnerability to the downside, needs to recover above 150.60. The GBP/JPY traded below 150.00, but it rose back above, holding firm to the current consolidation range, after the sharp slide from a multi-year high above 153.00 to 149.60. The bias…