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. Mixed Eurozone PMIs add to soft tone “French Services and Composite readings missed expectations as did the German Services data, entailing lower than expected results for the same Eurozone … Read more
Silver price faces pressure above $33 as Fed policymakers see interest rates remaining in the current range of 4.25%-4.50%. Fed officials struggle to gauge the impact of Trump’s economic agenda on the economy. The broader outlook of the Silver price remains firm amid Trump’s tariff agenda. Silver price (XAG/USD) faces selling pressure above the key … Read more
AUD/USD faces offers near 0.6400 ahead of the preliminary US S&P Global PMI data for February. Investors see Trump’s tariff agenda as less fearful than anticipations. RBA’s Bullock support for maintaining a cautious interest rate cut stance. The AUD/USD pair faces selling pressure around 0.6400 in North American trading hours on Friday. The Aussie pair … Read more
EUR/USD slumps to near 1.0460 after the release of February’s preliminary PMI data for the Eurozone and its major nations. The Eurozone Composite PMI expanded at a steady pace of 50.2 in February. Investors expect Trump’s tariff agenda won’t hurt much than anticipated earlier. EUR/USD slides to near 1.0460 in Friday’s North American session. The major … Read more
EUR/USD slips 0.22% to 1.0450 on Friday, reversing after testing the 100-day SMA. RSI drops sharply to 55, signaling weakening bullish momentum near the midpoint. MACD histogram prints lower green bars, indicating fading buying pressure and potential for further downside. The EUR/USD pair faced a setback on Friday, declining by 0.44% to settle near 1.0450 … Read more
GBP/USD slips after hitting record high past 100-day SMA GBP/USD registers losses on Friday during the North American session after testing the 100-day Simple Moving Average (SMA) at 1.2658. Good economic data from the United Kingdom (UK) pushed the pair towards year-to-date (YTD) highs of 1.2678 before stabilizing at current spot prices. The pair exchanges hands … Read more