Currency pair of the week
EUR/USD outlook: Currency Pair of the Week – Nov 27, 2023
EUR/USD outlook supported by weakening US dollar, which will be put under the spotlight by GDP and core PCE inflation data this week. Weaker Eurozone inflation data could paradoxically lift EUR/USD to 1.10 as technical analysis shows path of least resistance remains to the upside.
Euro to US dollar analysis: EUR/USD outlook in focus - Currency Pair of the Week
The EUR/USD is likely to be among the more active currency pairs this week, which I am expecting to potentially rise to 1.10 handle amid improved risk sentiment and recent falls in US yields and dollar. Although the economic situation in the eurozone remains far from convincing, markets may have gotten ahead of itself with regards to ECB rate cuts being priced in as early as April.
GBP/USD analysis in focus ahead of key data – Currency Pair of the Week
The US dollar has started the new week trading mixed, rising to a fresh 2023 high against the Japanese yen but falling against the likes of the Aussie and pound. The dollar index closed higher last week. This week, we will have some important economic data to look forward to, including CPI from both the UK and US, which puts the GBP/USD outlook into focus.
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AUD/USD analysis: RBA, Peak Fed Rates Narrative makes Aussie Currency Pair of the Week
The AUD/USD is our featured currency pair of the week, in what will be a quieter week for economic data compared to the previous week. Still, it could be a busy one for the Aussie given that we have a rate decision from the RBA as well as economic data from China and the US to look forward to.
GBP/USD analysis in focus ahead of busy week - Currency Pair of the Week
After topping out at 1.3142 in July, the cable has shed over 1,100 pips at its lowest point in early October. This was in response to the sharp repricing of “higher for longer” US interest rates narrative. The further resilience of US data we have seen over the past couple of weeks hasn’t led to any further appreciation in interest rate expectations, keeping the dollar in consolidation mode.
Euro to US dollar analysis: EUR/USD is the Currency Pair of the Week
Sentiment remains bearish towards risky assets, with global indices continuing to fall at the start of the new week following a tumultuous and eventful last week. Interestingly, the US 10-year bond yield has now broken above the key 5.00% level for the first time since June 2007, which could keep the downside limited for the US dollar. The EUR/USD was flattish on the session at the time of writing, ahead of a busy week.
EUR/USD analysis: Focus remains fixated on Mideast – Currency Pair of the Week
Sentiment remains cagey with worries over the Middle East continuing to keep the markets in an overall risk-off mode. However, there has been no fresh news to drive the US dollar even higher at the start of this new week. Position squaring is probably the main reason why it has retreated a little. That’s not to say it has topped. Ongoing Middle East tensions should keep the dollar supported on the dips, against the more risk-sensitive currencies.
USD/JPY analysis: Haven flows and key data makes USD/JPY Currency Pair of the Week
With the unfortunate events over the weekend triggering a “risk off” response in the markets, and key US data to come later in the week, both the Japanese yen, still deemed by many as a haven currency, and the US dollar will be in focus this week. Additionally, there is the potential for further Japanese intervention given that the USD/JPY trades not too far from the 150.00 level.
EUR/USD outlook: US dollar could extend gains for 12th week – Currency Pair of the Week
The EUR/USD’s corrective bounce towards the end of last week faded, as we had expected, with the dollar continuing to find support even though we saw some notably weaker data. In other words, nothing has changed since last week. There will be lots of key US data to look forward to this week, which should keep the EUR/USD in sharp focus.
EUR/USD Outlook Darkens as Dollar goes from Strength to Strength - Currency Pair of the Week
The EUR/USD has been among a growing number of major FX pairs breaking to fresh multi-month lows. The euro’s latest losses come after the Dollar Index ended higher for the tenth consecutive week and as risk appetite remained low across financial markets, with major indices breaking further lower this morning. The EUR/USD will be among the key FX pairs to watch this week.
GBP/USD Outlook: BoE and FOMC meetings make Cable Currency Pair of the Week
The GBP/USD is in focus ahead of this week’s key events: FOMC and BoE rate decisions. We also have UK CPI and retail sales, as well as global PMI figures to look forward to this week. The BoE is likely to deliver a final 25 bps hike, while FOMC is seen holding policy unchanged. The GBP/USD could be heading to low 1.20s in this busy week.
EUR/USD forecast: US CPI and ECB in focus – Currency Pair of the Week
The economic calendar is full of key data from the US this week, which should make for a volatile week for all the major pairs. But the fact we also have an interest rate decision from the ECB to look forward to means the EUR/USD will be among the more active pairs, making it our currency pair of the week.
USD/CAD Outlook remains Bullish – Currency Pair of the Week
Our bullish USD/CAD outlook will be tested this week, with key events from Canada to look forward to, as well as a couple of potentially market-moving data from the US. The USD/CAD was understandably trading within small ranges on Monday with both North American nations on holiday, but the bullish trend remained in place.
GBP/USD outlook: UK Wages, CPI makes Cable Currency Pair of the Week
The GBP/USD is our featured currency pair this week, owing to the release of some important macro data from both sides of the pond. The Bank of England remains firmly focused on services inflation and wage growth. We will have data on both fronts in the week ahead, which should impact the GBP/USD outlook in the direction of the surprise.
Dollar analysis: GBP/USD traders eye US CPI – Currency Pair of the Week
The GBP/USD is our featured currency pair this week. Though it has started the new week slightly on the backfoot, there was some bullish price action observed towards the latter parts of last week, giving the bulls some hope that it may be about to trend higher again. In truth, a lot will now depend on the direction of the US dollar, which will be influenced CPI data.
GBP/USD outlook hinges on BoE, US data - Currency Pair of the Week
The GBP/USD was little changed for much of Monday’s European trade, holding in the positive territory above 1.2850 area. But we are expecting volatility to increase as we go deeper into the week. As well as the Bank of England’s rate decision, we have some top-tier US data to look forward to in the next several days, making the GBP/USD the currency pair of the week.
EUR/USD outlook: All eyes FOMC and ECB meetings – Currency Pair of the Week
The EUR/USD started the new week on the backfoot, falling in reaction to the latest disappointment from the PMI surveys in the Eurozone. But the downside was limited as investors looked forward to key interest rate decisions from the Fed and ECB later in the week. Despite its recent weakness, we continue to maintain a bullish EUR/USD outlook and wouldn’t rule out a move towards 1.15 in the coming weeks.
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GBP/USD outlook: All eyes on UK inflation - Currency Pair of the Week
For now, the path of least resistance is to the upside for the cable and other pound crosses. But UK CPI has the potential to impact the GBP/USD outlook.
USD/CAD outlook: Currency pair of the week
The USD/CAD outlook is subject to a major revision this week with investors looking forward to the release of US CPI and a rate decision from the Bank of Canada.
Currency pair of the week: EUR/USD
Will central bank divergence become more apparent this week? FOMC minutes & ECB special meeting on tap.
Currency Pair of the Week: USD/MXN
If Banixco continues to be more hawkish than the FOMC, USD/MXN could continue lower
Currency Pair of the Week: GBP/USD
If the BOE continues to taper, or talk about tapering, GBP/USD could be in for a ride!
Currency Pair of the Week: USD/NOK
With 2 central bank meetings this week, there are potential opportunities for a good deal of 2-way volatility in USD/NOK