Author: FX

Pound Sterling outperforms USD as Trump backs immediate rate cuts The Pound Sterling (GBP) jumps above 1.2400 against the US Dollar (USD) on Friday. The GBP/USD gains as the US Dollar is onset to end the week with the highest losses in almost two months. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slumps to near 107.60, the lowest level in over a month after United States (US) President Donald Trump signaled the need for immediate interest rate cuts by the Federal Reserve (Fed) in his commentary at the World Economic Forum (WEF) on Thursday. Read More… GBP/USD rises to near 1.2400 as…

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EUR/USD advances on Friday, marking a solid recovery to 1.0485. Technical indicators point to strengthening momentum, with the pair nearing short-term resistance. Focus shifts to whether buyers can maintain traction above the 1.0500 psychological level. The EUR/USD pair ended the week on a bullish note, climbing 0.66% to settle at 1.0485 on Friday. This move signals a continuation of its recovery, following recent consolidation within a relatively narrow trading range. The pair’s ability to maintain upward pressure highlights growing buyer confidence as it approaches key resistance levels. Technical readings reflect the strengthening bullish bias. The Relative Strength Index (RSI) has surged…

The US Dollar off session’s low against most major peers.  US President Trump deliver softer comments that tariffs on China might not finally be imposed.  The US Dollar Index (DXY) still trades below 108.00 despite a small bounce off this week’s low.  The US Dollar Index (DXY), which tracks the performance of the US Dollar against six different major currencies, is emerging back above 107.50, though is still facing an intraday loss on Friday after US President Donald Trump left surprised with comments the previous day casting doubts on the application of tariffs on China. The comments came after Trump had a…

The US private sector expanded at a softening pace in January. US Dollar Index stays deep in negative territory below 107.50. The economic activity in the US’ private sector continued to expand in January, albeit at a softer pace, with the S&P Global Composite PMI declining to 52.4 from 55.4 in December. In the same period, the Manufacturing PMI improved to 50.1 from 49.4, surpassing the market expectation of 49.6. Finally, the Services PMI declined to 52.8 from 56.8. Commenting on the survey’s findings, “US businesses are starting 2025 in an upbeat mood on hopes that the new administration will…

USD/JPY recovers sharply to near 156.50 as Japanese Yen underperforms its major peers. The BoJ refrained from providing a specific policy-tightening path. US President Trump has pushed back fears of imposing tariffs on China. The USD/JPY recovers Bank of Japan’s (BoJ) interest rate hike-inspired losses and rises to near 156.60 in Friday’s North American session. The Japanese Yen (JPY) has turned upside down in the aftermath of the BoJ’s monetary policy announcement. Japanese Yen PRICE Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the US…

EUR/GBP struggles to sustain uptrend, facing resistance near 0.8473. Pair tests 200-day SMA at 0.8422; could revisit year-to-date high if support holds. Potential downward move targets 100-day SMA at 0.8348 if support breaks. The EUR/GBP failed to extend its gains for the second straight day, as stir resistance near 0.8473 was strong enough to be cleared by bulls. Therefore, the cross tumbles towards the 200-day Simple Moving Average (SMA) at 0.8422 and print losses of 0.03%. EUR/GBP Price Forecast: Technical outlook The pair resumed its uptrend on January 8, with the EUR/GBP posting gains of 2.29% in a seven-day span.…

USD/JPY hourly chartIt’s been a back and forth day for the pair as traders are still working out what to make of things after the BOJ policy decision today. On the one hand, the dollar remains softer across the board and vulnerable as tariff fears are receding. That being said, the bond market isn’t exactly buying into that story all too much. On the other hand, the BOJ delivered a rate hike and upped their inflation forecasts. But Ueda’s presser was more about keeping options open than trying to rush any further rate hikes.There’s a balance to be struck in…

EUR/USD raises sharply to near 1.0500 as upbeat Eurozone preliminary PMI data for January has strengthened the Euro. The ECB is widely anticipated to cut its Deposit Facility rate by 25 bps to 2.75% on Thursday. Trump’s call on immediate rate cuts and his soft tone for China have weighed heavily on the US Dollar. EUR/USD rallies to near the psychological resistance of 1.0500 in Friday’s European session as the Hamburg Commercial Bank (HCOB) reported that the Eurozone preliminary Composite Purchasing Managers Index (PMI) grew in January after shrinking in the last two months. Flash HCOB PMI report, compiled by S&P…

MADRID (Reuters) – Spanish defence and technology company Indra was set to buy satellite operator Hispasat from Redeia for 650 million euros ($679 million) to expand in the space industry, daily newspaper El Pais reported on Friday, citing unnamed sources with knowledge of the situation. Indra and Redeia are close to a deal and the transaction will be submitted to their respective boards for approval “imminently”, the newspaper said. Indra is mainly interested in Hispasat’s military unit, according to El Pais. Redeia did not immediately respond to a Reuters request for comment. Indra declined to comment. Indra, which is 28%…