USD/JPY maintains a bullish bias despite temporary retreats. A new lower low activates more declines. The US data should move the rate today. The USD/JPY price posted a fresh daily top of around 149.20. Now, the pair has retreated and is trading at 148.83 at the time of writing. The US dollar retreated slightly, lending...

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The US dollar reached a fresh 10-month high due to a significant surge in US bond yields. The European Central Bank’s record high deposit rate might help cut inflation to 2%. Investors see a slight chance of an ECB rate cut by June next year. The current EUR/USD price analysis indicates a bearish outlook, as...

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The pound has registered a 3.8% loss for the three months ending in September. The BOE opted to maintain interest rates last week. British business activity data revealed a more challenging September for companies than initially anticipated. Today’s GBP/USD outlook is bearish as the dollar stays well bid. Moreover, it registered a 3.8% loss for...

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XAU/USD could jump higher if it stays above the lower median line (LML). A new higher high activates further growth. Staying near the lower median line (LML) may announce an imminent breakdown. The gold price retreated slightly in the short term, now at $1,924. A retracement was expected after an impulsive move to $1,947 last...

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Fed officials issued warnings on Friday regarding the likelihood of future rate hikes. Markets estimate a roughly 21% chance of a 25-basis-point Fed rate hike in November. Data indicated a 0.3% growth in Canadian retail sales in July compared to June. Today’s USD/CAD outlook is bullish as the dollar holds steady amid increased rate hike...

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The yen neared the 150 level, heightening concerns about potential intervention. The dollar strengthened, building on gains from the previous week. The BOJ opted to maintain ultra-low interest rates and adhere to its dovish policy stance. Today’s USD/JPY forecast is bullish as the yen neared the critical 150 per dollar level, heightening concerns of potential...

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The Fed paused and held rates unchanged, but policymakers flagged the possibility of one last hike. The BOJ maintained its ultra-loose policy and its dovish policy outlook. Next week’s BOJ minutes will summarize the meeting held yesterday. The USD/JPY weekly forecast is bullish as monetary policy divergence continues to weaken the yen against the dollar....

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The dollar got a boost after the FOMC meeting. Data on initial jobless claims showed a drop, supporting the view of a still-tight US labor market. The UK registered a surprise drop in inflation, pushing the pound lower. The GBP/USD weekly forecast is bearish. The dollar is rising amid a hawkish Fed, while the BOE...

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XAU/USD rallied as the DXY retreated. The US data should be decisive later today. 1,930 stands as a critical resistance. The gold price registered a strong rally in the short term and is now at $1,927, well above yesterday’s low of $1,913. XAU/USD turned to the downside as the dollar retreated a little. -If you...

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Data revealed that British retail sales grew less than anticipated in August. August marked the sixth instance in 2023 where UK sales volumes grew month-to-month. UK’s consumer confidence reached its highest level since January last year. Today’s GBP/USD price analysis remains bearish as the pound weakened against the dollar on downbeat UK sales data. -If...

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The BOJ retained ultra-low interest rates and its dovish outlook. The yen depreciated by more than 0.4% against the dollar. Japan’s Finance Minister cautioned against a yen depreciation that could harm the trade-dependent economy. Today’s USD/JPY outlook is bullish as investors absorb the disappointing outcome of the BOJ policy meeting. The yen experienced a decline...

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The Federal Reserve projected another rate increase by year-end. The Fed expects rates to decrease by only half a percentage point in 2024. Powell expressed confidence that the Fed’s aggressive rate hikes would likely not lead to an economic downturn. Today’s AUD/USD outlook is bearish as the Aussie extended losses amid a rising dollar. The...

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Data indicated that UK inflation in August had slowed more than anticipated. Investors rushed to scale back their expectations of the BOE increasing rates on Thursday. Traders see a 60% probability that the BOE will leave rates unchanged on Thursday. Today’s GBP/USD forecast is bearish as the pound hovers near fresh lows hit after the...

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The FOMC should shake the markets tonight. The bias remains bullish as long as it stays above the median line. A new higher high activates further growth. The gold price climbed as high as $1,937 yesterday. However, it failed to stay near the highs. Now, the precious metal has turned to the downside and is...

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Investors awaited the outcome of the two-day Fed meeting. US and Japanese authorities continued to make fresh remarks regarding the potential for currency intervention. Market participants regard the 150 level as a crucial threshold for Tokyo. Today’s USD/JPY forecast is bullish as the dollar strengthens before the FOMC meeting. The dollar was strong on Wednesday...

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Investors believe the Fed will hold rates steady at 5.25% to 5.50%. Futures markets are currently pricing a 30% chance of a 25bps Fed hike in November. On Tuesday, the Canadian dollar strengthened to a six-week high against the US dollar. Today’s USD/CAD price analysis is bullish as investors move to the dollar ahead of...

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USD/CAD Aims At 1.3400, Canadian CPI … The Canadian inflation figures should move the rate. The bias is bearish despite minor rebounds. The lower median line (LML) represents a significant target. The USD/CAD price extended its sell-off and now trades at 1.3445. The downside pressure is high, so more declines are on the cards. -If...

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The Bank of Japan (BOJ) is gearing up for its monetary policy meeting. The yen reached a 10-month low of 147.95 per dollar last week. Investors will look for clues on the Fed’s next move. The USD/JPY price analysis is bullish as the BOJ will likely keep low rates at the upcoming policy meeting. The...

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The ECB will likely maintain its interest rates at 4% for an extended period. Traders await interest rate decisions from major central banks. Janet Yellen stated on Monday that she saw no indications of a US recession. Today’s EUR/USD outlook is bearish as the ECB will likely pause rate hikes after reaching 4%. ECB policymaker...

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The Canadian dollar remained strong amid higher oil prices. Oil hit a 10-month high on Friday. Economists expect Canada’s inflation to record an annual rate of 3.8% in August. Today’s USD/CAD forecast is bearish as the oil rally has boosted the loonie. The Canadian dollar pulled back slightly against the dollar on Monday. However, it...

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