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0.7000: Why the Australian Dollar is heading for deeper pullback after RBA broke its rate-hike spree
The Australian Dollar (AUD) has entered a corrective phase, surrendering part of its recent gains against the US Dollar, after the Reserve Bank of Australia (RBA) opted to break its tightening cycle and hold its benchmark cash rate at 4.35%.
Fxstreet
Wed, Jun 17
USD/CAD Price Forecast: Holds gains above 1.4000, bullish bias persists despite overbought RSI
The USD/CAD pair trades in positive territory around 1.4005 during the early European trading hours on Wednesday. Optimism surrounding the US-Iran peace agreement drags crude oil prices lower and weighs on the commodity-linked Canadian Dollar (CAD).
Fxstreet
Wed, Jun 17
Euro strengthens against British Pound after UK CPI data, traders eye BoE rate decision
The EUR/GBP cross gathers strength to around 0.8650 during the early European trading hours on Wednesday. The British Pound (GBP) weakens against the Euro (EUR) following the UK inflation report for May.
Fxstreet
Wed, Jun 17
Japanese Yen gains ground as traders await Fed rate decision
The USD/JPY pair loses ground to near 160.25 during the early European trading hours on Wednesday. Traders prefer to wait on the sidelines ahead of the US Federal Reserve (Fed) interest rate decision under new Chair Kevin Warsh later on Wednesday.
Fxstreet
Wed, Jun 17
Indonesian Rupiah struggles as traders adopt caution ahead of Fed decision
USD/IDR gains ground after two days of losses, trading around 17,770 during the Asian hours on Wednesday. The pair appreciates as the Indonesian Rupiah (IDR) faces challenges as traders adopt caution ahead of the Federal Reserve (Fed) policy decision due later in the day.Fxstreet
Wed, Jun 17
AUD/JPY Price Forecast: Constructive bias prevails above 113.00, but neutral RSI spurs consolidation
The AUD/JPY cross trades in negative territory around 113.25 during the early European session on Wednesday. The Japanese Yen (JPY) edges higher against the Australian Dollar (AUD) after the Bank of Japan (BoJ) raised interest rates to their highest level in more than three decades.
Fxstreet
Wed, Jun 17
Indian Rupee steadies due to risk-on mood
The Indian Rupee (INR) holds ground after two days of gains against the US Dollar (USD) on Wednesday. However, the upside potential for the USD/INR pair could be capped in the near term as downward pressure on the Indian Rupee eases, supported by declining global oil prices.Fxstreet
Wed, Jun 17
AUD/USD Price Forecast: Consolidates above 0.7050; 100-day SMA holds the key ahead of Fed
The AUD/USD pair trades with a negative bias for the second straight day, though it lacks bearish conviction and holds above the 0.7050 level through the Asian session on Wednesday amid mixed cues.Fxstreet
Wed, Jun 17
EUR/JPY Price Forecast: Could rebound toward 186.50 as bullish bias prevails
EUR/JPY depreciates after three days of gains, trading around 186.20 during the Asian hours on Wednesday. The currency cross holds a constructive bullish bias as it remains above both the nine-day and 50-day Exponential Moving Averages (EMAs).
Fxstreet
Wed, Jun 17
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