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EUR/JPY Price Forecast: Hovers around 178.50 within oversold territory
EUR/JPY gains ground for the second consecutive day, trading around 178.70 during Asian hours on Tuesday. Technical analysis of the daily chart indicates the currency cross remains within the descending channel pattern, signalling an ongoing bearish bias.
Swiss Franc remains under pressure against US Dollar, Fed’s policy in focus
The Swiss Franc (CHF) is down against the US Dollar (USD) on Tuesday, with the USD/CHF pair trading slightly higher at around 0.8178 in the Asian session.
South Korea Money Supply Growth down to 8% in July from previous 9.4%
South Korea Money Supply Growth down to 8% in July from previous 9.4%
United States Dollar Index strengthens above 99.50 as Fed rate hike bets rise
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.60 in the Asian trading hours on Tuesday. The DXY edges higher on expectations of a US Federal Reserve (Fed) interest rate hike on Wednesday.Â
New Zealand Dollar remains subdued following release of China’s economic data
NZD/USD extends its losses for the second successive day, trading around 0.5760 during Asian hours on Tuesday. The pair remains as the New Zealand Dollar (NZD) holds losses following the release of key economic data from China, New Zealand’s close trading partner.
Australian Dollar remains depressed below mid-0.7100s vs bullish USD after Chinese data
The AUD/USD pair struggles to capitalize on the previous day's modest bounce from the 0.7100 neighborhood, or an over three-week low, and trades with a negative bias for the second straight day on Tuesday.
China’s Retail Sales rise 0.4% in August, Industrial Production up 5.2%
China’s Retail Sales rose 0.4% year-over-year (YoY) in August vs. a rise of 0.8% expected and a 0.6% growth in July, the latest data released by the National Bureau of Statistics (NBS) showed Tuesday.
China Fixed Asset Investment (YTD) (YoY) in line with expectations (-7.2%) in August
China Fixed Asset Investment (YTD) (YoY) in line with expectations (-7.2%) in August
China Industrial Production (YoY) registered at 5.2% above expectations (4.8%) in August
China Industrial Production (YoY) registered at 5.2% above expectations (4.8%) in August
China Retail Sales (YoY) below expectations (0.8%) in August: Actual (0.4%)
China Retail Sales (YoY) below expectations (0.8%) in August: Actual (0.4%)
British Pound drifts lower below 1.3500 as Fed hike bets rise, UK jobs data loom
The GBP/USD pair loses momentum to around 1.3490 during Asian trading hours on Tuesday. Expectations of a US Federal Reserve (Fed) interest rate hike on Wednesday provide some support to the US Dollar (USD) against the British Pound (GBP). The UK jobs report is due on Tuesday.
Silver Price Forecast: XAG/USD falls to near $63.00 amid rising inflation, Treasury yields
Silver price (XAG/USD) falls for the second successive day, trading around $63.20 per troy ounce during Asian hours on Tuesday. Silver could face further depreciation as elevated oil prices heighten expectations for a US Federal Reserve interest rate hike.
Euro remains depressed below mid-1.1500s vs bullish USD as focus remains on FOMC
The EUR/USD pair attracts some sellers for the fourth straight day and trades below mid-1.1500s during the Asian session on Tuesday, just above a one-month low touched the previous day.