Forex News

July 13, 2020
EUR/USD forecast at 1.17 in 6-12 months – CitiBank
Analysts at Citibank see the EUR/USD moving to the upside over the next months. They forecast EUR/USD at 1.14 in three month and at 1.17 in six to twelve.  Key Quotes: “Renewed or increased political uncertainty from Italy, Brexit or elsewhere may put downside risks on EUR.” “EA ‘break-up’ risk premia has now markedly been…
July 13, 2020
EUR/GBP rises back above 0.9000 amid a stronger euro
Euro stronger ahead of the ECB and EU meetings. Pound losses strength after rising sharply last week. The EUR/GBP is rising more than 70 pips on Monday, having the best performance in at least a month. It has climbed back above 0.9000, recovering after falling to three-week lows on Friday at 0.8937. The move higher…
July 13, 2020
EUR/USD Price Analysis: EUR/USD moves above the 200 weekly SMA and the price printed at its highest level in over a month
EUR/USD is trading 0.64% higher on Monday as global risk sentiment drives on. The dollar has struggled against all of the majors bar GBP. EUR/USD weekly chart EUR/USD is one of the best-performing currencies on Monday as the pair moves over 0.60% higher. In general, the euro is having a great day as EUR/JPY rises 0.86%…
July 13, 2020
Gold dips but then catches a bid once again to hold above the pivotal $1800 area
Gold has pushed over 0.50% higher on Monday as the bulls keep control. Other precious metals are performing well to as silver joins the rally. Although the yellow metal is not accelerating at the rate we have seen in recent days. The bulls are not ready to let go just yet. Gold is once again…
July 13, 2020
Germany’s Merkel: Can’t say if we are going to reach agreement on EU recovery fund
Germany and Italy agree on the basic structure of the EU-proposed recovery fund, German Chancellor Angela Merkel said on Monday, as reported by Reuters. However, Merkel further added that she can't say if they are going to be able to reach an agreement on the EU budget and the recovery fund at the summit. Meanwhile,…
July 13, 2020
AUD/USD rises on upbeat market mood, closes in on 0.7000
AUD/USD rose toward 0.7000 during American session on Monday. Greenback is struggling to find demand as risk rally picks up steam. NAB's Business Confidence and Business Conditions data will be released on Tuesday. The AUD/USD pair closed the previous week virtually unchanged after failing to break above 0.7000. After staying relatively calm during the Asian…
July 13, 2020
EUR/JPY jumps to test last week highs near 122.00
EUR/JPY looks poised to test 122.00, likely to reach one-month highs. Euro holds onto gains across the board, trading at multi-day highs versus pound and yen. The EUR/JPY pair is rising sharply on Monday, boosted by a stronger euro across the board and by an improvement in risk appetite. Higher equity prices weakened the Japanese…
July 13, 2020
WH adviser Kudlow: Not expecting interruptions in V-shaped recovery
White House economic adviser Larry Kudlow told Fox News on Monday that he does not expect to see interruptions in the 'V-shaped' economic recovery.  "President Trump is willing to consider more state aid if schools reopen," Kudlow noted and added that the economy could grow by 20% in the second half of the year. Market reaction…
July 13, 2020
USD/CAD drops below 1.3550 on broad USD weakness
USD/CAD edged lower in the early American session. Wall Street's upbeat performance weighs on greenback on Monday. WTI recovers above $40, trades in positive territory. The USD/CAD pair closed the previous week with small gains but struggled to gather bullish momentum on Monday. After moving sideways below 1.3600 for the majority of the day, the…
July 13, 2020
USD/MXN to test the 26.00 psychological mark – Credit Suisse
USD/MXN maintains a multi-year bullish continuation pattern and is expected to move into a high level range, according to analysts at Credit Suisse who expect the pair to reach the 26.00 level after breaching the initial resistance seen at 24.91. Key quotes “USD/MXN also maintains a large multi-year bullish ‘triangle’ continuation pattern despite the correction…