GBP/USD has extended its downfall, amid growing uncertainty about Brexit and global trade tensions. Further political developments, as well as UK PMIs, will shape the pound’s trading. The daily chart for early June shows oversold conditions on GBP/USD, implying a bounce. Experts are bearish in the short term but foresee considerable bounces later on. What … “Pound plunge may come to a (temporary) end”
Category: Opinions
USD/JPY may extend its falls alongside trade wars
USD/JPY has failed to recover as trade wars intensified and also broadened. A busy beginning to June awaits traders with a full build-up to the NFP among other events. The technical outlook for early June remains bearish. Experts are bearish in the short-term but see a significant bounce later on. What just happened: Trade wars … “USD/JPY may extend its falls alongside trade wars”
3 reasons why the dollar suddenly dropped and why it will recover
The US Dollar has been falling sharply, reversing previous gains. Trade wars usually favor the safe-haven greenback, but this time is different. There are three main reasons for the downfall. EUR/USD has escaped the abyss, GBP/USD seemed to have forgotten about Brexit, and even commodity currencies have rallied against the greenback. The US dollar is a safe-haven currency, second … “3 reasons why the dollar suddenly dropped and why it will recover”
Canadian GDP may help CAD recover
Canadian growth has probably picked up in the first quarter according to analysts. The BOC downplayed expectations for the first quarter, allowing more room for surprise. The Canadian dollar is set to benefit from a faster expansion driven by jobs. It is hard to warm up in the cold Canadian winter – and the same … “Canadian GDP may help CAD recover”
Euro-zone inflation critical ahead of the ECB
Euro-zone inflation has probably cooled down in May. The data sets the stage for the critical ECB decision two days later. EUR/USD has room to fall with inflation and core CPI is the key. When even the Germans are unfazed by a jump in inflation, EUR/USD also ignores the numbers and returns to its daily grind. That … “Euro-zone inflation critical ahead of the ECB”
EUR/USD: Overoptimism implies further falls
EUR/USD has consistently closed below the three-month average target. If this pattern persists, there may be substantial downside in the next three months. The FXStreet Forecast Poll provides in-depth sentiment for selected financial assets. Experts’ average target for EUR/USD has been very close to the weekly closing price in the following week – but the same does not … “EUR/USD: Overoptimism implies further falls”
GBP/USD may fall a bit more but then rally hard
GBP/USD has fallen sharply but may extend its falls according to experts. Things may substantially improve afterward. The FXStreet Forecast Poll provides in-depth sentiment for selected financial assets. GBP/USD may find a bottom sooner rather later. The FXStreet Forecast Poll shows that experts have responded to the recent downfall in pound/dollar by cutting their short-term target … “GBP/USD may fall a bit more but then rally hard”
BOC: USD/CAD set to move on 3 factors
The Bank of Canada is set to leave interest rates unchanged at 1.75%. Investors will look for hints for the next change in interest rates. The bank’s opinions on interest rates, the recent jobs report, and comments on trade will play a key role. Trading the Canadian dollar has not been easy of late as … “BOC: USD/CAD set to move on 3 factors”
GBP: Market Focus Already Turning To What Happens After PM May – MUFG
The pound dropped quite a lot as a result of political turmoil and the and the specter of seeing Boris Johnson in No. 10. What’s next? Here is their view, courtesy of eFXdata: MUFG Research discusses GBP outlook in light of the latest Brexit developments. “The pound continues to remain under heavy selling pressure in … “GBP: Market Focus Already Turning To What Happens After PM May – MUFG”
EU elections could turn EUR positive unless Merkel moves
The EU holds elections to its parliament as populism is on the rise across the continent. Low expectations may be followed by a euro-positive surprise. The greater risk may be if Angela Merkel quits. Many Europeans are not happy with the system ten years after the crisis, may vent their anger in the European elections, … “EU elections could turn EUR positive unless Merkel moves”