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EUR/GBP pulls back below 0.8700 amid broader Euro weakness
The Euro (EUR) failed to hold above 0.8700 against the British Pound (GBP) on Friday and pulled back to session lows near 0.8685 in the early European session. The pair, however, remains on track to close its first positive week in two months, fuelled by the ECB-BoE policy divergence.
Fxstreet
Fri, Feb 6
Pound Sterling partially recovers after dovish BoE hold triggers losses
The Pound Sterling (GBP) regains ground against its major currency peers on Friday after a sharp fall the previous day, which was driven by the Bank of England’s (BoE) signal that there is a high chance of an interest-rate cut in the near term.
Fxstreet
Fri, Feb 6
NZD/USD rebounds toward 0.6000 ahead of Michigan Consumer Sentiment Index
NZD/USD gains after two days of losses, trading around 0.5980 during the early European hours on Friday. Traders will watch the preliminary February US Michigan Consumer Sentiment Index, due for release later in the North American session.
Fxstreet
Fri, Feb 6
USD/CAD holds below 1.3700 amid weak US labor data, higher crude oil prices
The USD/CAD pair trades with mild losses near 1.3685 during the early European session on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) amid weaker-than-expected US economic data and a rise in crude oil prices.
EUR/USD: Downside risk persists – UOB
UOB's report, authored by Quek Ser Leang and Lee Sue Ann, suggests that the EUR/USD is facing downside risks, with potential support levels highlighted. The report indicates that a break below 1.1750 could occur, although a significant drop to 1.1725 is deemed unlikely at this time.
Fxstreet
Fri, Feb 6
GBP/USD Price Forecast: Trades above 1.3500 after rebounding from 50-day EMA
GBP/USD rebounds after two days of gains, trading around 1.3560 during the Asian hours on Friday. The technical analysis of the daily chart points to a potential bearish reversal as the pair is positioned near the lower boundary of an ascending channel pattern.Fxstreet
Fri, Feb 6
USD/CHF falls to near 0.7760 as US Dollar’s rally hits pause
The USD/CHF pair trades 0.22% lower to near 0.7765 during the late Asian trading session on Friday. The Swiss Franc pair is under pressure as the rally in the US Dollar (USD) has paused, following an increase in dovish Federal Reserve (Fed) expectations.
Fxstreet
Fri, Feb 6
USD/INR remains broadly calm while RBI keeps Repo Rate steady at 5.25%
The Indian Rupee (INR) remains broadly unchanged against the US Dollar (USD) at around 90.35, despite the Reserve Bank of India’s (RBI) monetary policy announcement, in which it has left the Repo Rate unchanged at 5.25%, as expected.Fxstreet
Fri, Feb 6
EUR/JPY Price Forecast: Falls toward 184.50 near nine-day EMA support
EUR/JPY extends its losses for the second successive session, trading around 184.70 during the Asian hours on Friday. The technical analysis of the daily chart suggests that the 14-day Relative Strength Index (RSI) at 55.67 (neutral) stays north of 50, confirming a mild upside skew.
Fxstreet
Fri, Feb 6
EUR/USD strives to gain ground near 1.1770 on improving Fed dovish prospects
The EUR/USD pair attempts to regain ground near 1.1770 during the Asian trading session on Friday. The major currency pair attracts slight bids as the US Dollar ticks down amid an improvement in speculation that the Federal Reserve (Fed) could cut interest rates in the March policy meetingFxstreet
Fri, Feb 6
Silver Price Forecast: XAG/USD tumbles below $72.00 as safe-haven appeal fades
Silver price (XAG/USD) slumps to around $71.90, the lowest since January 2, during the Asian trading hours on Friday. The white metal extends the decline amid easing geopolitical tensions and profit-taking. Traders will closely monitor the upcoming US-Iran talks later on Friday.
Fxstreet
Fri, Feb 6
Japanese Yen recovers slightly from two-week low vs. USD; lacks bullish conviction
The Japanese Yen (JPY) attracts some buyers during the Asian session on Friday and, for now, seems to have snapped a five-day losing streak against its American counterpart, reaching a two-week low the previous day.Fxstreet
Fri, Feb 6
EUR/USD slides after ECB hold as risk-off flows lift US Dollar
The Euro extends its losses on Thursday as the European Central Bank held rates unchanged in an uneventful monetary policy decision. Jobs data in the United States was softer than expected fueling speculation for rate cuts by the Federal Reserve. The EUR/USD trades at 1.1777, down 0.25%.Fxstreet
Fri, Feb 6
Australian Dollar remains subdued following RBA Bullock’s comments
The Australian Dollar (AUD) extends its losses for the third successive session against the US Dollar (USD) on Friday following the Reserve Bank of Australia (RBA) Governor Michele Bullock’s comments, saying that the board lifted the Official Cash Rate (OCR) because the economy is more capacity cons
Fxstreet
Fri, Feb 6
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