USD/CAD Outlook: Bears Dominate as Risk Sentiment Improves

First Citizens BancShares will acquire all of the deposits and loans of Silicon Valley Bank. Investors are betting that the BOC will start lowering rates this year. Retail sales in Canada increased by 1.4% in January. Today’s USD/CAD outlook is slightly bullish. The dollar slipped lower on Monday as investors assessed what authorities and regulators...

20h

GBP/USD Forecast: Bailey Claims Inflation to Decline in 2023

Shares of Deutsche Bank dropped by about 9% on Friday amid banking sector worries. The British central bank increased its benchmark interest rate from 4% to 4.25%. Bailey reiterated that the central bank expected inflation to decline considerably this year. Today’s GBP/USD forecast is bearish. Deutsche Bank shares dropped about 9% on Friday, resulting...

1d

EUR/USD Weekly Forecast: ECB Defends Hikes Despite Instability

The ECB claimed that EU lenders are properly capitalized and liquid. On Wednesday, the Fed increased interest rates for the ninth consecutive time. Investors believe the Fed may soon pause rate hikes. The EUR/USD weekly forecast is bullish as the ECB is determined to continue its battle against inflation despite the financial instability. Ups and …...

1d

AUD/USD Weekly Forecast: RBA’s Tightening Cycle to End

Markets are betting that the RBA’s 10-month tightening campaign is largely done. The Federal Reserve raised rates for the ninth time in a row. A decrease in US unemployment claims indicated the tight labor market. The AUD/USD weekly forecast is slightly bearish as markets are not expecting another rate hike from the RBA. Ups and … Continued The post...

2d

USD/JPY Outlook: Cost Pressure Remains Despite Eased Inflation

Core consumer prices in Japan increased by 3.1% from a year earlier in February. The cost of non-energy goods like food and basic necessities continued to rise. Investors are awaiting the core durable goods orders report from the US. Today’s USD/JPY outlook is bearish. Data released on Friday revealed that while Japan’s core consumer inflation … Continued...

4d

EUR/USD Price Tumbles as Dollar Soars, Focus on Key Data

The bias is bullish as long as it stays above the median line. The US and Eurozone services and manufacturing data should move the rate today. A new higher high activates further growth. The EUR/USD price turned to the downside, trading at 1.0824 at the time of writing. After its strong rally, a short-term downside … Continued The post EUR/USD Price...

4d

GBP/USD Price Analysis: Pound Falls After BOE’s Dovish Rate Hike

The BOE increased rates on Thursday by 25bps. Most central banks have emphasized inflation while downplaying worries about financial stability. This year, the best-performing G7 currency pair is the pound. Today’s GBP/USD price analysis is slightly bearish. On Thursday, the Bank of England (BoE) increased interest rates and stated that it expects the...

4d

GBP/USD Price Fades Spike Above 1.23 After BoE’s 25-bps Hike

The GBP/USD pair turned to the downside after registering only false breakouts through the R2. The BOE should be decisive today. The Rising Wedge pattern could be activated after a valid breakdown below the uptrend line. The GBP/USD price dropped in the short term and is trading at 1.2287 at the time of writing. The … Continued The post GBP/USD Price...

4d

USD/CAD Outlook: Fed Raises Rates, But Signals Looming Pause

The Federal Reserve is getting close to pausing its tightening program. The Fed increased rates by a quarter of a percentage point. The sharp rise in mortgage rates hurt Canada’s housing market. Today’s USD/CAD outlook is bearish. On Wednesday, investors applauded the Federal Reserve’s indication that it is getting close to pausing its tightening program....

4d

EUR/USD Forecast: Euro Soars as Fed Nears End of Hike Cycle

The US Federal Reserve appeared close to ending interest rate hikes. The Fed increased its benchmark funds rate by 25 basis points. European markets predict another 50 bps or so to go. Today’s EUR/USD forecast is bullish. The dollar was under pressure on Thursday, trading near seven-week lows, after the US Federal Reserve appeared close … Continued...

4d