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02.06.2023 Market Report

EUR/USD EUR/USD clings to mild gains around 1.0760-65 as it lacks follow through of the previous day’s heavy run-up amid the market’s cautious mood ahead of the key US employment data. Softer Eurozone inflation, mixed comments from ECB officials prod Euro buyers. GBP/USD GBP/USD aptly portrays the pre-NFP anxiety in markets during early Friday as it seesaws around 1.2530 by the press time. In doing so, the Cable pair also justifies the latest challenges to the upside momentum flagged from London. USD/JPY USD/JPY pares weekly losses

01.06.2023 Market Report

EUR/USD EUR/USD is trading modestly flat just below 1.0700, extending its sideways movement in Asia this Thursday. The US debt deal wins the House passage. Traders refrain from placing fresh bets on the pair ahead of the EU inflation data and the US jobs data.  GBP/USD GBP/USD grinds near weekly high as bulls and bears jostle ahead of the key data/events scheduled for publishing on Thursday. The Cable pair makes rounds to 1.2450 during early Thursday morning in Europe amid the latest retreat

31.05.2023 Market Report

EUR/USD EUR/USD is testing 1.0700, retreating from near the 1.0740 region in Wednesday’s Asian trading. Dismal China’s NBS Manufacturing PMI and pre-US debt deal vote anxiety reinstate the US Dollar’s safe-haven appeal. US/ German data, Fedspeak and House vote in focus.  GBP/USD GBP/USD clings to mild losses as it extends the early Asian session pullback from a one-week high while snapping a three-day uptrend near 1.2390 heading into Wednesday’s London open. That said, the Cable pair’s latest gains could be linked to the

30.05.2023 Market Report

EUR/USD EUR/USD remains depressed at 10-week low surrounding the 1.0700 threshold heading into Tuesday’s European session. The Euro pair stays on the back foot for six days in a row amid hawkish Federal Reserve (Fed), as well as doubts about the European Central Bank’s (ECB) capacity to lift the rates further. GBP/USD The GBP/USD pair has rebounded after defending its downside near the crucial mark around 1.2340 in the early European session. The Cable has shown recovery as the US Dollar index (DXY) has faced pressure while

29.05.2023 Market Report

EUR/USD EUR/USD is consolidating the rebound below 1.0750 in early Europe, as markets cheer that the proposal of raising the $31.4 trillion US borrowing limit has been approved for two years. However, concerns over its passage in Congress and holiday-thinned light trading could cap the upside.  GBP/USD The GBP/USD pair has attempted a recovery move after trading sideways below 1.2350 in the Asian session. The strength in Cable has come due to a sheer decline in the US Dollar Index (DXY) after the approval of a raise

26.05.2023 Market Report

EUR/USD The EUR/USD pair has climbed above the critical mark of 1.0740 in the early European session after a firmer recovery from near the 1.0700 mark. The major currency pair is anticipated to extend further as the US Dollar Index (DXY) has extended its correction further to near 104.08. GBP/USD GBP/USD is holding its recovery gains toward 1.2350 after the UK Retail Sales data came in mixed for April. Cable is advancing as the US Dollar is losing ground amid a correction alongside the US Treasury yields. Focus now shifts

25.05.2023 Market Report

EUR/USD EUR/USD is under pressure near monthly lows, falling toward 1.0700 in early Europe. The pair remains weighed down by the US debt-ceiling uncertainty-led cautious market mood, which underpins the safe-haven US Dollar. Focus stays on ECB-speak ahead of US data.  GBP/USD The GBP/USD pair has shown some recovery after printing a fresh six-week low at 1.2332 in the early European session. The Cable is expected to resume its downside journey after a less-confident pullback as investors have underpinned the risk-aversion theme due to

24.05.2023 Market Report

EUR/USD EUR/USD glides on a dicey floor with mild gains around 1.0775 as it waits for the key catalysts on early Wednesday in Europe. In doing so, the Euro pair forms a bullish chart pattern called the “Double Bottom” with eyes on a speech from European Central Bank (ECB) President Christine Lagarde and Minutes of the latest Federal Open Market Committee (FOMC) Monetary Policy Meeting. GBP/USD GBP/USD prints the first daily run-up in three as it clings to mild gains near 1.2420 ahead of

23.05.2023 Market Report

EUR/USD EUR/USD is continuously auctioning in a narrow range above 1.0800 in the Asian session. The major currency pair is struggling to deliver a decisive move as investors are confused over further action after Monday’s US debt-ceiling meet ended without agreement. GBP/USD GBP/USD aptly portrays the pre-data anxiety as it dribbles around 1.2430 during early Tuesday morning in London. The Cable pair marks the traders’ cautious mood ahead of the first readings of the UK’s S&P Global/CIPS PMI for May, as well as the

22.05.2023 Market Report

EUR/USD EUR/USD is consolidating recovery gains above 1.0800 heading toward the European open. The pair has shown resilience around 1.0800, as the US Dollar remains undermined by falling US Treasury bond yields amid protracted US debt-ceiling talks and dovish Fed outlook.  GBP/USD GBP/USD is oscillating above 1.2450 after a recovery move and is looking to extend its rally further as the Federal Reserve (Fed) is considering a pause in the policy-tightening spell amid tight credit conditions by the United States regional banks.  USD/JPY The USD/JPY pair has dropped