EUR/GBP continues to hover around the 0.8300 mark with an empty domestic macro calendar for the week ahead, Danske Bank's FX analyst Jens Nærvig Pedersen reports.
Room for US Dollar (USD) to retest the 148.90 level vs Japanese Yen (JPY) before stabilisation is likely; significant support at 148.63 is unlikely to come into view.
The UK published on Friday data showing a net public sector surplus of £15.4bn in January, which fell short of the £20bn estimated by the Office for Budget Responsibility in October alongside the Budget, ING’s FX analysts Francesco Pesole notes.
New Zealand Dollar (NZD) is likely to trade sideways between 0.5735 and 0.5770. In the longer run, boost in momentum suggests the major resistance at 0.5790 is back in sight, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
A slew of soft data and renewed expectations that US President Donald Trump's tariffs will only be a short-lived transactional measure hurt the dollar last week.
Australian Dollar (AUD) is expected to trade in 0.6355/0.6400 range. In the longer run, AUD could advance further, potentially reaching 0.6455, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
EUR/USD briefly challenged lows of January but has quickly rebounded after forming an important low near 1.0140, Societe Generale's FX analysts report.
The German election results were broadly in line with opinion polls. The CDU/CSU is the leading party with 29%, followed by the far-right AfD at 21% and the SPD at 16%.
Euro (EUR) is expected to trade in a 1.0450/1.0505 range vs the US Dollar (USD). In the longer run, rejuvenated upward momentum suggests EUR could continue to advance; the levels to monitor are 1.0530 and 1.0560, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
The EUR/USD pair regains positive traction at the start of a new week and hits a near one-month top, around the 1.0525-1.0530 area during the Asian session amid renewed US Dollar (USD) selling bias.
WIth US stocks sharply lower, risk-off flows are weakening the AUDUSD. Technically, the 38.2% retracement and falling 100 day MA helped to stall the rally at the highs today.
The EUR/USD pair faced a setback on Friday, declining by 0.44% to settle near 1.0450 after encountering firm resistance at the 100-day Simple Moving Average (SMA) around 1.0540.
USDCAD struggles to break above key moving averages, with sellers dominating amid US dollar weakness. Canadian retail sales data weighs on pair, focus on key support levels for potential bounce.
UK Retail Sales rose a solid 2.1% in January, well ahead of expectations, after run of soft data in Q4, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Preliminary Eurozone PMI data for February were mixed to slightly softer, weighing on the EUR somewhat in European trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is trading higher on the day overall, with yesterday’s big winner, the JPY, this morning’s big loser after Japan’s January headline CPI reflected the anticipated pick up to 4.0% Y/Y, Scotiabank's Chief FX Strategist Shaun Osborne notes.
European natural gas and power prices have dropped back over the past week despite a cold spell adding to heating demand in Northern Europe, Danske Bank's FX analyst Mohamad Al-Saraf reports.
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