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US Dollar Index falls back below 107.00 but downside remains limited as Treasury yields remain high
The US Dollar Index sees a mild decline for Wednesday, slipping back past the 107.00 level. Downside momentum likely to remain limited as US Treasury yields, US economic data continue to hold on the high end. The DXY is up 3.2% on the year, 7.25% from 2023's lows. The...
Japanese Yen Forecast: USD/JPY Hit by Potential FX Intervention. Will Bulls Reload?
USD/JPY OUTLOOK: USD/JPY briefly breaks above 150.00, but then pulls back sharply on signs that the Japanese government has stepped in to support the yen in currency markets. Any FX intervention measures will not be enough to support the yen on a sustained basis. As...
USD/CAD Price Analysis: The key barrier is seen at 1.3600 ahead of the Canadian, US PMI data
USD/CAD retraces to 1.3570, and holds above the 50- and 100-hour EMAs on the four-hour chart. The key resistance level is seen at 1.3600; the initial support level is located at 1.3515. Relative Strength Index (RSI) is located in the bullish territory above...
Gold Falters as US Yields and the DXY Advance, $1900 at Risk
Gold (XAU/USD) Struggles as Rising US Yields and the Dollar Index (DXY). Dollar Index (DXY) in Overbought Territory but Likely to Remain Supported in a Risk-Off Environment. IG Client Sentiment Shows that Retail Traders are Overwhelmingly Long with 79% of Traders...
Crude Oil Price Update: Last Week’s Pause Pushed Retail Traders to Add Upside Bets
Crude oil prices paused rallying last week Retail traders slightly increased upside bets What is the short-term WTI outlook? Crude oil prices took a breather last week, leaving WTI little changed by Friday. This meant a pause after weeks of consistent gains....
GBP Breaking News: BoE Hints at Peak Rates after Vote to Hold, GBP Offered
BANK OF ENGLAND HOLDS INTEREST RATES STEADY AT 5.25% The monetary policy committee narrowly decided to hold (5-4) Disinflation is expected to continue but growth forecasts for H2 are likely to be weaker BoE hints at a potential peak in interest...