USD/CNH has lost traction after failing to hold above its 50-DMA and now trades below key March support, with the pair’s inability to reclaim 7.30 suggesting further downside risk toward 7.14 and 7.10, Société Générale's FX analysts note.
AUD/USD has staged a steady recovery from last month’s lows and is now testing the 200-day moving average, with a breakout above February highs near 0.6410 seen as critical for unlocking further upside toward 0.6550 and beyond, Société Générale's FX analysts note.
Rebound amid apparent positive divergence suggests US Dollar (USD) could rise further to 7.2400 vs Chinese Yuan (CNH); strong resistance at 7.2800 is unlikely to come under threat. In the longer run, USD could range-trade for a few days before resuming its decline; the level to watch is at 7.1700,
US Dollar (USD) is expected to trade in a 143.40/144.85 range vs Japanese Yen (JPY). In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Although the US dollar has found temporary support from equity gains and easing trade tensions, lingering soft data and early signs of labour market weakness suggest the greenback remains vulnerable to a gradual decline, reinforcing a bearish medium-term outlook, Danske Bank's FX analysts report.
New Zealand Dollar (NZD) is likely to trade in a range vs US Dollar (USD), probably between 0.5930 and 0.5980. In the longer run, for the time being, NZD is expected to trade in a 0.5890/0.6005 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The most notable development in FX over the past few days has been the exceptional rally in the Taiwanese dollar, and to a lesser extent in other Asian currencies (MYR, THB, KRW).
Australian Dollar (AUD) is likely to trade in a range between 0.6420 and 0.6485 vs US Dollar (USD). In the longer run, further AUD strength is not ruled out, but it must first break clearly above 0.6510, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The USD/CAD pair is retracing its recent gains from the previous session, trading around 1.3820 during the European hours on Tuesday. The daily chart's technical analysis suggested a sustained bearish sentiment, as the pair continues to trade within a descending channel pattern.
EUR/GBP seems to be attracting buyers around the 0.850 level and is awaiting another clear-cut GBP bullish catalyst for a break lower, ING's FX analyst Francesco Pesole notes.
Reports emerged yesterday morning that the Bank of England (BoE) may lower its inflation and growth forecasts at Thursday's meeting and remove the reference to 'gradual' interest rate cuts from its statement.
Tentative buildup in momentum suggests Pound Sterling (GBP) is likely to trade with a downward bias vs US Dollar (USD); any decline is unlikely to reach 1.3230.
There are no major data releases in the eurozone calendar this week, with the focus on some ECB speakers instead. Today, arch-dove Panetta speaks at an event in Asia.
The GBP/USD pair attempts to maintain its position after registering gains in the previous session, trading around 1.3300 during the Asian trading hours on Tuesday.
The EUR/USD pair reverses an Asian session tip to the 1.1280-1.1275 region on Tuesday and climbs a fresh daily high in the last hour, though it lacks strong follow-through buying.
The AUD/NZD pair hovered around the 1.0800 mark on Monday after the European session, slipping slightly but staying within a narrow mid-range as the market heads into Asia.
The GBP/JPY pair showed marginal movement on Monday, holding near the 191.00 zone following the European session. Price action remained flat within a narrow range, reflecting uncertainty in direction as momentum indicators deliver conflicting signals.
The EUR/JPY pair slipped lower on Monday, falling toward the 163.00 zone as the session closed and ahead of the Asian open. Despite the day’s decline, the broader setup remains constructive, with the pair still holding above critical trendline supports.
The USD/JPY dropped late during the North American session as investors seeking safety bought the Japanese Yen (JPY) and ditched the US Dollar (USD) amid the lack of announcements of trade deals, despite rumors that the US and China are close to beginning talks.
Silver's price advanced close to 1% on Monday, as the US Dollar (USD) remains pressured due to US President Donald Trump's tariffs and appetite for the haven’s appeal of precious metals like Gold and the grey metal.
The EUR/CAD pair ticked higher on Monday, trading around the 1.5600 area after the European session. While price action remained within the middle of the daily range, the pair showed signs of underlying strength, aligning with a broader bullish structure.
The EUR/USD pair edged higher on Monday, trading around the 1.1300 zone following the European session. Price action stayed confined within the mid-range of the day’s movement, reflecting a steady grind higher rather than an impulsive breakout.
The Pound Sterling (GBP) advanced some 0.32% against the US Dollar (USD) on Monday, back above the 1.33 handle, as market participants digested data from the United States (US) portraying that business activity in the services sector is gathering some steam, yet fails to underpin the Greenback.
Buyers remain in control with focus on breaking through the multi-day ceiling at 0.6000
Buyers remain in control with focus on breaking through the multi-day ceiling at 0.6000
The Mexican Peso (MXN) remains stable against the US Dollar (USD) on Monday despite rising tensions over the weekend between Mexican President Claudia Sheinbaum and US President Donald Trump regarding a rejected proposal to deploy American troops in Mexico.
Bullish momentum in today's oil futures market with key order flow observations and targets for traders to capitalize on, with specific prices/targets to consider. Trade oil at your own risk.
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