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USD/CAD rises as strong US PMI and falling Oil prices weigh on the Loonie
The Canadian Dollar (CAD) extends its losses against the US Dollar (USD) on Monday, as renewed Greenback strength and falling Oil prices weigh on the commodity-linked Loonie. At the time of writing, USD/CAD is trading around 1.3676, up about 0.44% on the day.
USD/CHF Price Forecast: Downside bias holds below 0.7850
The Swiss Franc (CHF) trades on the back foot against the US Dollar (USD) on Monday, as the nomination of former Federal Reserve (Fed) Governor Kevin Warsh as the next Fed Chair helps the Greenback recover from four-year lows.
Fxstreet
Mon, Feb 2
EUR/GBP holds steady as traders stay sidelined ahead of BoE and ECB meetings
The Euro (EUR) remains range-bound against the British Pound (GBP) at the start of the week, as traders stay on the sidelines and avoid large directional bets ahead of this week’s interest-rate decisions from the Bank of England (BoE) and the European Central Bank (ECB).
Fxstreet
Mon, Feb 2
USD/JPY: Bank of Japan cautious on hiking – BBH
According to Brown Brothers Harriman (BBH) analysts, USD/JPY has retraced about 50% of last week’s decline and is trading just under 155.00. The Bank of Japan's recent policy meeting reinforced a cautious hiking bias, with a base case for another rate hike expected at the April 28 meeting.Fxstreet
Mon, Feb 2
GBP/JPY holds gains above 212.00 as Takaichi talks down the yen
The Pound is posting moderate gains against a weaker Japanese Yen, weighed by Prime Minister Takaichi’s comments on Monday. The pair trades right above 212.00 at the time of writing, up from last week’s lows at the 209.60 area, but also below session highs at 212.68.
Fxstreet
Mon, Feb 2
AUD/USD recovers early losses as US Dollar edges down, RBA policy eyed
The AUD/USD pair recoups its early losses and rebounds to near its opening price around 0.6960 during the European trading session on Monday. The Aussie pair bounces back as the US Dollar (USD) ticks down, but broadly remains firm.Fxstreet
Mon, Feb 2
NZD/USD rises on Chinese PMI improvement, limited by US inflation data
NZD/USD trades around 0.6030 on Monday at the time of writing, up 0.10% on the day. The pair strengthens amid supportive macroeconomic signals from China, New Zealand’s main trading partner, which underpin the New Zealand Dollar (NZD) against the US Dollar (USD).
Fxstreet
Mon, Feb 2
USD/CAD Price Forecast: Bulls have found resistance at 1.3675
The US Dollar holds minor gains on Monday after rallying nearly 1% on Friday against the Canadian Dollar. The pair, however, found sellers at 1.3675 earlier in the day before trimming some gains, and retreated to 1.3630 at the time of writing.Fxstreet
Mon, Feb 2
EUR: ECB to hold rates steady amid inflation dynamics – Societe Generale
Societe Generale's report argues the European Central Bank (ECB) is likely to maintain interest rates amidst mixed inflation signals. The report highlights that euro area inflation is expected to dip slightly below target in January, with a forecast of 1.8%.
Fxstreet
Mon, Feb 2
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