#Today Daily

GBP/USD Price Analysis: Dives to over two-week low, below 1.3500 mark

GBP/USD witnessed selling for the third successive day and dropped to over a two-week low. A sustained break below the 1.3535-1.3530 confluence was seen as a fresh trigger for bears. The stage now seems all set for a slide towards testing the 50% Fibo., around mid-1.3400s. The GBP/USD pair added...
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USD/JPY hits six day lows under 114.00

Japanese yen among top performers as US yields remain steady. DXY down for the day but off lows. USD/JPY heads for lowest daily close in a month. The USD/JPY dropped further during the American session and bottomed at 113.95, the lowest level in six days. The move lower took place amid a stronger Japanese yen across the board and despite higher equity prices in Wall Street.
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Breaking: GBP/USD rises towards 1.3650 as UK annualized CPI beats estimates with 5.4% in Dec

UK CPI rises by 5.4% YoY in December vs. +5.2% expected. Monthly UK CPI arrives at +0.5% in December vs. +0.3% expected. GBP/USD edges higher above 1.3600 upbeat UK CPIs. The UK Consumer Prices Index (CPI) 12-month rate came in at 5.4% in December when compared to +5.1% registered in November while beating expectations of a +5.2% print, the UK Office for National Statistics (ONS) reported on Wednesday.
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GBP/USD consolidates below 1.3650 amid weaker US dollar, bull cross

GBP/USD holds onto the previous rebound above 1.3600. Hotter UK inflation supports BOE rate hike calls, DXY drops amid risk recovery. Bull cross confirmation and bullish RSI allow room for more upside in cable. GBP/USD is consolidating gains below 1.3650, as the bulls gather pace for the next push higher.

NZD/USD bulls stepping in at daily support as full markets return

NZD/USD bears are being beaten back by bulls near the daily support. A pick up in price activity is underway as traders return to markets for Tuesday. At 0.6804, NZD/USD is higher on Tuesday by 0.17% following a rally from a low of 0.6783 to a high of 0.6808. It is a relief for traders following a very quiet end to Monday's trade with the US on holiday for Martin Luther King Jr Day and no headline data releases in Europe.

USD/JPY extends rebound above 114.50 on a quiet session

DXY turns positive and rises for the second day in a row. Holiday in the US to favor consolidation in USD/JPY. Bank of Japan to announce decision on Tuesday. The USD/JPY is rising on Monday, trading above 114.50, supported by a stronger US Dollar gains G10 currencies. The pair is having the best day since early January as it continues to recover from the monthly low it reached on Friday at 113.45.

USD/JPY cracks 114.00 amid USD weakness and bearish wedge

USD/JPY eyes deeper losses below 114.00 on DXY weakness. US Treasury yields attempt a bounce ahead of Retail Sales. Bearish wedge confirmation and daily close below 50-DMA cheer bears. USD/JPY is flirting with three-week lows, losing the 114.00 level amid persistent weakness in the US dollar against its main peers...

EUR/USD finds support at 1.1445, the dollar remains weak

EUR/USD drops to 1.1445, only to rebound back to 1.1470. US dollar remains under pressure amid risk appetite. The EUR/USD dropped from two-month lows at 1.1481 to 1.1445, during the American session. The recovery of the dollar was short-live and the pair is back above 1.1465, looking at recent tops.

NZD/USD surges to highest in two weeks, eyes 0.6850

Kiwi benefits from risk appetite and lower US yields. DXY tumbles despite inflation hitting the highest in decades in the US. NZD/USD having the best day in weeks. The NZD/USD is having the best day in weeks on Wednesday, supported by a broad-based slide in the US dollar. The pair trades at 0.6840, the highest since January 3 as the DXY tumbles 0.47%, to its lowest in more than a month.

Pound Sterling Price News and Forecast: GBP/USD breaks the 1.3600 threshold as Fed's Powell testifies at the US Senate

GBP/USD breaks the 1.3600 threshold as Fed's Powell testifies at the US Senate. During the New York session, the GBP/USD climbs above the psychological 1.3600 figure, trading at 1.3618 at the time of writing. The market sentiment shifted from a risk-on mood to mixed as the Federal Reserve Chairman Jerome Powell testifies against the US Senate Banking Committee on his re-nomination to head the US central bank. Read more...

USD/CAD Price Analysis: Falling wedge breakout calls for a test of 1.2850

USD/CAD rises to the highest levels in six days above 1.2800. The US dollar’s strength remains unabated amid hawkish Fed outlook. The pair charted a falling wedge on the daily sticks, more room to rise. USD/CAD is building onto Wednesday’s rebound, accelerating the advances above 1.2800 ahead of the...

Silver Price Analysis: XAG/USD plummets to three-week low, bears flirt with $22.00 mark

Silver witnessed aggressive selling on Thursday and dived to a near three-week low. The technical set-up supports prospects for a further near-term depreciating move. A sustained strength above the $22.00 mark is needed to negate the negative bias. Silver dived to a near three-week low heading into the North American...

EUR/GBP Price Analysis: Rebounds to 0.8350 but not out of the woods yet

EUR/GBP snaps the downbeat momentum, rebounds from two-year lows. The cross clings to the critical daily support line at 0.8341. RSI sits above the oversold region, keeping sellers hopeful. EUR/GBP is attempting a bounce heading into the European session, having hit a new two-year low of 0.8335 in the Asian...

AUD/USD rises further to the 0.7270 area ahead of FOMC minutes

Aussei extends gains versus US dollar on American hours despite upbeat US data. DXY drops 0.30%, US yields modestly higher, below Tuesday’s highs. FOMC minutes to be released at 19:00 GMT. The AUD/USD pair gained momentum during the American session and climbed to 0.7268, reaching the highest level since...

Pound Sterling Price News and Forecast GBP/USD: FOMC minutes kick-start a bearish storm

GBP/USD Price Analysis: FOMC minutes kick-start a bearish storm. GBP/USD was hit hard on the back of the Federal Open market Committee minutes today resulting in a quick drop into an area that might be expected to act as support. The following is an analysis that illustrates the price action and potential outcomes from both a bullish and bearish standpoint. The price action would be expected to result in an onwards move to the upside from support. However, as illustrated below, the recent sell-off has left a strong bearish candle close and a subsequent additional bearish open in the current candle. This opens the prospects of a downside continuation below support and into buy stop territory. Read more...

WTI Price Analysis: Charting a bull flag, a test of $80 on the cards

WTI (NYMEX futures) is posting 1% gains so far this Monday, kicking off the first trading day of 2022 on the front foot. The European equities have opened firmer, adding to the market’s optimism, in turn, boosting the higher-yielding oil price. Meanwhile, tightening oil supplies from Libya also offers support to the renewed upside in the black gold.

Pound Sterling Price News and Forecast: GBP/USD bears lurking below critical dynamic support

GBP/USD Forecast: Pound to weaken further if buyers fail to defend 1.3500. GBP/USD has registered impressive gains in the last two weeks of the year but bulls seem to have lost interest on the first trading day of 2022. The pair has already tested 1.3500 once, and the bearish pressure could increase in case buyers stop defending that level. The number of confirmed coronavirus cases in the UK continues to rise at an unprecedented pace. Although the British government refrained from imposing new restrictions before the New Year, widespread staff absences are weighing on economic activity, especially in the service sector. Read more...

Pound Sterling Price News and Forecast: GBP/USD [Video]

GBP/USD Analysis: Bulls could aim to test 1.3565-70 confluence despite COVID-19 woes. The GBP/USD pair seesawed between tepid gains/minor losses and finally settled nearly unchanged on Thursday amid thin end-of-year trading volumes. The US dollar made a solid comeback and reversed the previous day's losses back closer to the monthly low. This was seen as a key factor that exerted some downward pressure on the major, though the early downtick turned out to be short-lived. Read More...