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Euro: Breaks below key averages against US Dollar – Societe Generale
Societe Generale analysts report EUR/USD has fallen to its lowest level since early April as wider UST/Bund spreads and higher energy prices weigh on the Euro (EUR). The pair has broken below its 50- and 200-day moving averages, with support cited at 1.1560 and resistance at 1.1720.
Fxstreet
Fri, May 15
GBP/JPY Price Forecast: Struggles below 212.00 as bears look to seize control
The GBP/JPY cross attracts some follow-through selling for the second consecutive day and drops to a one-and-a-half-week low during the early European session on Friday. Spot prices, however, rebounded a few pips in the last hour and currently trade near the 211.75 region, down 0.25% for the day.
Fxstreet
Fri, May 15
British Pound dives to five-week lows below 1.3350 as UK political crisis deepens
The British Pound (GBP) extends losses against the US Dollar (USD) for the fourth consecutive day on Thursday, trading at 1.3337 at the time of writing, as the crisis in the UK cabinet deepens, fuelling concerns about a power vacuum that might trigger another fiscal crisis.
Fxstreet
Fri, May 15
EUR/JPY Price Forecast: Slips below 184.50 near the confluence around descending wedge top
EUR/JPY continues its losing streak for the fourth successive day, trading around 184.40 during the European hours on Friday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the upper boundary of an emerging descending wedge pattern.
Fxstreet
Fri, May 15
USD/CHF Price Forecast: Advances to two-week high to test 0.7865 confluence on bullish USD
The USD/CHF pair prolongs its weekly uptrend for the fifth consecutive day on Friday and touches over a two-week high, near the 0.7860-0.7865 region during the early European session amid a broadly firmer US Dollar (USD).
Fxstreet
Fri, May 15
Turkish Lira: Reserve drain and inflation risks – Commerzbank
Commerzbank’s Tatha Ghose flags a sharp March deterioration in Turkey’s balance of payments, with a near-doubling of the current-account deficit, heavy capital outflows and a record drop in official reserves. The bank argues underlying vulnerabilities predated the Iran conflict.
Fxstreet
Fri, May 15
AUD/USD Price Forecast: Near-term bias turns bearish as correction extends below 20-day EMA
The AUD/USD pair trades 0.8% lower to near 0.7160 against the US Dollar (USD) during the European trading session on Friday. The Aussie pair faces intense selling pressure as the US Dollar outperforms its peers amid a significant surge in US Treasury yields.Fxstreet
Fri, May 15
British Pound: Political strain weighs on Sterling – Commerzbank
Commerzbank’s Michael Pfister highlights mounting political turmoil in the United Kingdom (UK), with resignations and leadership speculation tightening pressure on Prime Minister Keir Starmer. He sees rising uncertainty over future fiscal policy as negative for the Pound (GBP).Canadian Dollar declines to near 1.3750 as Trump–Xi summit supports US Dollar
The USD/CAD pair gathers strength to around 1.3755 during the early European trading hours on Friday. The pair is set for its largest weekly gain in more than two months, as rising energy prices stoked inflationary pressures, boosting expectations of a Federal Reserve (Fed) rate hike this year.
Fxstreet
Fri, May 15
AUD/JPY Price Forecast: Slips to near 114.00, but maintains bullish structure above 100-day average
The AUD/JPY cross trades in negative territory around 114.00 during the early European session on Friday. The China-proxy Australian Dollar (AUD) softens against the Japanese Yen (JPY) amid the lack of progress to open the Strait of Hormuz.
Fxstreet
Fri, May 15
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