FX

GBPUSD Weekly Forecast: Pound Sterling set to reclaim 200-DMA in the Thanksgiving week GBPUSD buyers remained unstoppable for the second straight week, despite a lack of bullish impetus from the highly-anticipated United Kingdom Autumn Budget. The Pound Sterling also stood resilient to the recent rebound in the US Dollar, as attention now turns toward the

What you need to take care of on Wednesday, November 16:  It was another volatile day in the FX sphere, with optimism and fears mixing throughout the day. The American Dollar plummeted to fresh monthly lows against most major rivals ahead of Wall Street’s opening but posted a nice comeback ahead of the close. Modest

The Dollar dives to fresh six-week lows at 1.3255. The CAD extends gains on higher oil prices and risk appetite. US consumer sentiment deteriorated beyond expectations in November. The US Dollar has extended losses against its Canadian counterpart on Friday, reaching a fresh six-week low at 1.3255. The pair remains on the defensive after having depreciated

USDCAD bulls were knocked back as the US Dollar slumps again. All eyes are on US CPI and Fed speakers this week.  USDCAD is trading flat on the day following an initial surge in the early part of the New York session into shorts established at the start of the day in Asia and London.

Silver price trims some of Wednesday’s losses, despite high US Treasury yields. The XAGUSD daily chart depicts the precious metal as neutral-to-downward biased, with key resistance at $20.00. Short term, a break above $20.00 will open the door toward $21.00; otherwise, it would challenge $19.00. Silver price recovered some ground on Thursday, even though the

The US Dollar got bolstered by US core PCE but weakened towards the close of Wall Street. GDP in France and Spain weakened, while inflation in Germany continued its uptrend, above 10%. EURUSD is neutral-to-downward biased, though slightly tilted to the upside, facing strong resistance at the 100-DMA. The EURUSD finished Friday’s session almost flat

GBP/USD bulls are trying to take back control. Bulls are building up outside of key trendline resistances.  The bulls have been moving in slowly over the course of the month and reached a milestone in a critical break of a dynamic trendline. GBP/USD is trying to catch a breakout from the trendline resistance as the

USD/JPY bears looking for fuel into critical support structures. 149.00 is beckoning as risks of BoJ forex market operations hangover head.  Attempting to draw technical analysis on a market that is so out of whack with normality is a tall order if not just outright futile, but USD/JPY has rallied to draw droppingly high levels as

WTI crude oil pares the biggest weekly loss since early August, renews intraday high of late. Most OPEC+ members defend output cut decision after the White House criticized the move. DXY pullback adds strength to oil’s recovery amid a sluggish week-start. China trade numbers, updates from CCP can entertain intraday buyers. WTI crude oil picks

USD/CAD grinds higher as bulls await key data after three-day ruling. Oil pauses downside as Saudi Arabia defends latest OPEC+ supply cut agreement. Cautious mood, hawkish Fed bets challenge movement even as softer yields tease bears. US CPI for September can keep buyers hopeful considering upbeat Fed Minutes. USD/CAD stays defensive around 1.3820, pausing a

USD/CAD is eyeing more weakness below 1.3500 as the focus has shifted to employment data. The DXY may surrender the 110.00 cushion amid weaker US NFP projections. An upbeat consensus for Canada’s labor market data amid hawkish BOC will strengthen loonie. The USD/CAD pair has turned sideways in early Asia after dropping to near the

GBP/USD is set to finish the week with gains close to 3%, despite the UK’s bond crisis. US PCE figures increased the likelihood of the Fed going 75 bps as Fed officials reinforced their hawkish rhetoric. The GBP/USD remains downward biased, and once it clears 1.1050, it could fall towards the 1.0800 mark. The GBP/USD

USD/CAD probes five-day uptrend, retreats from 28-month top. Risk-aversion underpinned US dollar, drowned oil prices amid fears of aggressive central bank actions, recession. US Durable Goods Orders, CB Consumer Confidence will be important for immediate directions. Rush to risk safety can keep USD/CAD buyers hopeful even if the US data disappoints. USD/CAD bulls take a

AUD/USD has remained muted despite the release of the Aussie PMI data. Manufacturing PMI has released at 53.9 vs. estimates of 54.0 while Services PMI has landed at 50.4 vs. 47.7. The DXY could witness a momentum loss ahead of US PMI numbers. The AUD/USD pair has not responded effectively to the release of the

“British Prime Minister Liz Truss has agreed with her Irish counterpart Micheal Martin that an opportunity remains for a negotiated outcome to issues around the Northern Ireland protocol,” Reuters quotes Irish broadcaster RTE TV during the weekend. The news also mentioned that an Irish government spokesperson declined to comment on what was discussed at the

AUD/NZD takes offers to refresh intraday low after strong NZ Q2 GDP. New Zealand’s Q2 GDP rose past market expectations and prior on QoQ. Mixed concerns surrounding China, RBA versus RBNZ game tests bulls. Australia’s employment data for August will be important for fresh impulse. AUD/NZD renews intraday low around 1.1220 on strong New Zealand

GBP/USD Weekly Forecast: Eyes 21 DMA on a technical rebound ahead of critical US, UK events GBP/USD put an end to its three-week losing streak and staged a strong comeback from roughly four-decade lows of 1.1405. The US dollar correction and economic stimulus measures unveiled by the new UK PM Liz Truss saved the day

AUD/JPY is eyeing a fresh seven-year high at 97.00 as RBA-BOJ policy divergence widens. Investors should brace for upbeat Australian GDP data ahead. A decline in households’ consumption indicates a loss of consumer confidence in the Japanese economy. The AUD/JPY pair is aiming to refresh its seven-year high at around 97.00 as a rate hike