In opinion of FX Strategists at UOB Group, EUR/USD is stil expected to attempt s move to 1.1640 in the next weeks.
Cable is predicted to move into a consolidative phase in the next weeks, noted FX Strategists at UOB Group.
USD/JPY stalls the upside amid risk-off mood, awaits US data. Having tested three-year highs of 114.46 in early Asia, USD/JPY is consolidating above 114.00, as the bulls take a breather before resuming the upside momentum.
AUD/USD faces some consolidative mood in the near term ahead of a potential advance to the mid-0.7400s in the next weeks, suggested FX Strategists at UOB Group.
NZD/USD struggled to capitalize on the post-NZ GDP gains to over one month tops.
A modest USD strength assisted USD/CAD to stage a modest bounce from over three-month lows.
USD/CHF’s sell-off has tested the 55-day moving average (DMA) at 0.9204. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to slide back to the 2020-2021 uptrend at 0.9073.
CME Group’s advanced figures for crude oil futures markets noted open interest resumed the upside and increased by around 20.6K contracts on Friday. On the other hand, volume shrank for the fourth consecutive session, this time by around 102.5K contracts.
Dynamics in the yields and dollar will be closely followed by gold traders.