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British Pound: Testing support near 1.3300 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight tentative downside momentum in GBP/USD after the pair slipped to 1.3322 and closed at 1.3342. They see scope for a dip toward 1.3315, while judging 1.3300 as major support and potentially hard to break.
Japanese Yen weakens further against US Dollar as hawkish Fed bets dominate
The Japanese Yen (JPY) continues to underperform against the US Dollar (USD), with the USD/JPY pair trading 0.2% higher to near 157.70 during the European session on Wednesday. The pair trades higher due to continued outperformance by the US Dollar.
Forex Today: US Dollar continues to gather strength ahead of PMI data
Here is what you need to know on Wednesday, September 23:
Euro: De-escalation risk weighs on EUR against US Dollar – Commerzbank
Commerzbank’s Thu Lan Nguyen discusses EUR/USD in light of rising hopes for de-escalation in the Middle East. She notes the US Dollar (USD) has gained as rate expectations shifted in favor of the United States, with Euro Area inflation seen more energy-sensitive.
Silver Price Forecasts: XAG/USD holds within range with bulls capped below $68.00 area
Silver (XAG/USD) has been capped just below the top of the last three weeks' trading range, at the $68.00 area on Wednesday, and pulled back to session lows below $66.50 during the Asian session.
British Pound weakens to near 1.3300 as UK fiscal deficit exceeds market expectations
The GBP/USD pair attracts some sellers to around 1.3310 during the early European trading hours on Wednesday. The British Pound (GBP) weakens against the US dollar (USD) as the UK’s fiscal outlook has worsened, piling pressure on UK Chancellor John Healey ahead of the first budget.Â
United States Dollar Index gains support amid hawkish Fed policy stance
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the third consecutive day and trading around 100.70 during Asian hours on Wednesday.
Denmark Industrial Outlook registered at 100.5 above expectations (0) in September
Denmark Industrial Outlook registered at 100.5 above expectations (0) in September
EUR/JPY Price Forecast: Tests 180.00 support near nine-day EMA
EUR/JPY extends its losses for the second successive day, trading around 180.10 during Asian hours on Wednesday. Technical analysis of the daily chart shows the currency cross remaining within a descending channel, suggesting a persistent bearish bias.
AUD/USD Price Forecast: 20-day EMA remains key barrier amid firm US Dollar
The Australian Dollar (AUD) is down 0.15% at around 0.7100 against the US Dollar (USD) during the early European trading session on Wednesday.
Indian Rupee resumes decline as markets embrace hawkish Fed view
The Indian Rupee (INR) trades lower against the US Dollar (USD) on Wednesday after rising in the past few trading days.
AUD/JPY Price Forecast: Holds losses below 112.00, retaining bearish outlook beneath 100-day SMA
The AUD/JPY cross trades in negative territory around 111.95 during the early European session on Wednesday. A lack of explicitly hawkish guidance from the Bank of Japan (BoJ) after the rate hike last week exerts some selling pressure on the Japanese Yen (JPY) against the Australian Dollar (AUD).Â
Swiss Franc weakens as US Dollar rises on hawkish Fed sentiment
USD/CHF gains ground after four days of losses, trading around 0.8220 during Asian hours on Wednesday. The currency pair appreciates as the US Dollar (USD) gains ground on the back of a hawkish policy outlook from the Federal Reserve (Fed).