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29.09.2023 Market Report

EUR/USD EUR/USD preserved its recovery momentum and climbed toward 1.0600 in the European morning on Friday. Eurozone HICP inflation data for September and August PCE Price Index from the US will be watched closely on the last trading day of the third quarter. GBP/USD GBP/USD managed to build on Thursday’s recovery gains and advanced toward 1.2250 on Friday. The data from the UK confirmed that the real GDP expanded 0.2% on a quarterly basis in Q2. Later in the day, the US

28.09.2023 Market Report

EUR/USD EUR/USD is trading close to 1.0500, attempting a tepid recovery from eight-month lows of 1.0488 in European trading on Thursday. Broad US Dollar upside consolidation and Eurozone economic woes weigh on the pair ahead of the German inflation data.   GBP/USD GBP/USD remains under selling pressure below 1.2150, heading toward the lowest since March 17 at 1.2110. Sustained US Dollar strength and a mixed market mood is capping the rebound limited in the pair. US data are next in focus.  USD/JPY The USD/JPY pair surges to

27.09.2023 Market Report

EUR/USD The EUR/USD pair enters a bearish consolidation phase and oscillates in a narrow range near its lowest level since March 16, around the 1.0555 area touched during the Asian session on Wednesday. GBP/USD GBP/USD continues the losing streak that began on September 20, trading below 1.2150 during the Asian session on Wednesday. Upbeat economic data from the United States (US) reinforces the prevailing pressure on the pair. USD/JPY USD/JPY hovers slightly below the high since November, trading around 149.10 psychological level during the

26.09.2023 Market Report

EUR/USD EUR/USD keeps its bearish momentum intact while consolidating below 1.0600 in early Europe on Tuesday. The pair remains undermined by the ongoing uptrend in the US Dollar alongside the US Treasury bond yields on the Fed’s higher for-longer rate view.  GBP/USD The GBP/USD pair remains under selling pressure and trades in negative territory for the fourth consecutive week during the early European session on Tuesday. The major pair trades near 1.2203, losing 0.07% on the day. USD/JPY USD/JPY trades near 148.90 close to an 11-month high

25.09.2023 Market Report

EUR/USD EUR/USD is keeping its range play intact near 1.0650 in the early European hours on Monday. Markets stay risk-averse, weighing the Fed’s ‘higher-for-longer’ rate view and lingering China’s property market woes. Germany’s IFO survey eyed.  GBP/USD GBP/USD remains on the defensive below the mid-1.2200s early Monday. The US Dollar is clinging to the previous week’s gains alongside firmer US Treasury bond yields while the Pound Sterling weighs the Fed-BoE policy divergence amid a quiet calendar.  USD/JPY The USD/JPY pair remains flat below the mid-148.00s

22.09.2023 Market Report

EUR/USD EUR/USD is trading lower at around 1.0650, holding its downward trajectory on Friday. The sustained US Dollar strength exerts downward pressure on the pair amid an upbeat mood and higher US Treasury bond yields. EU/ US PMIs eyed.  GBP/USD GBP/USD is trading depressed below 1.2270, well within the striking distance of a multi-month low set on Thursday. Discouraging UK Retail Sales data weighs on the pair after a surprise BoE pause. The focus shifts to UK/ US PMI data.  USD/JPY The USD/JPY pair regains positive

21.09.2023 Market Report

EUR/USD EUR/USD is trading close to weekly lows below 1.0650 in the early European morning on Thursday.  The Fed, as expected, kept rates unchanged but indicated that one more rate hike before the year-end could be appropriate. US yields surges to multi-year highs, driving the US Dollar higher.  GBP/USD GBP/USD is consolidating losses in early Europe on Thursday, trading near a five-month low at 1.2304 set on Wednesday. The pair is weighed by the Fed’s hawkish stance and increased odds of a BoE rate hike pause,

20.09.2023 Market Report

EUR/USD EUR/USD attracts some dip-buying on Wednesday, though lacks bullish conviction. Bets that the ECB is done hiking rates act as a headwind for the Euro and cap gains. Traders also seem reluctant and now look to the FOMC decision for a fresh impetus. GBP/USD GBP/USD came under renewed bearish pressure and dropped to its lowest level in nearly four months below 1.2350. The data from the UK showed that the annual CPI inflation declined to 6.7%, compared to analysts’ estimate of

19.09.2023 Market Report

EUR/USD EUR/USD is trading under pressure below 1.0700 amid a cautious Asian trading on Tuesday. Bets that the ECB is done hiking rates act as a headwind for the shared currency while a subdued US Dollar price action could lend support to the pair.  GBP/USD The GBP/USD pair continues with its struggle to gain any meaningful traction and languishes near its lowest level since early June touched on Monday. Spot prices trade around the 1.2380-1.2375 region. USD/JPY USD/JPY recovers from the losses registered on the previous

18.09.2023 Market Report

EUR/USD EUR/USD is holding gains below 1.0700, starting off the week on a positive note on Monday. The pair is receiving upward support, courtesy of a better market mood and a broad US Dollar pullback. German Bundesbank’s monthly report eyed.  GBP/USD The GBP/USD pair attracts some buying on the first day of a new week and reverses a part of Friday’s slide to the 1.2380-1.2375 area, or its lowest level since June. Spot prices currently trade around the 12400 round figure and draw some support