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Euro inches lower following HCOB PMI data from Germany
EUR/USD held ground after registering modest losses in the previous day, trading around 1.1430 during the European hours on Tuesday. However, the pair withdraws its daily gains following the release of HCOB Purchasing Managers Index (PMI) data from Germany.
Fxstreet
Tue, Jun 23
British Pound edges lower vs JPY on UK politics, intervention fears; looks to UK PMIs
The GBP/JPY cross struggles to capitalize on the previous day's solid intraday bounce from the vicinity of a one-month trough, touched last week, and edges lower on Tuesday. Spot prices, however, lack bearish conviction and currently trade just below the 214.00 mark amid mixed fundamental cues.
Fxstreet
Tue, Jun 23
Japanese Yen: Downside bias as BoJ lags Fed – MUFG
MUFG’s Michael Wan notes that the US Dollar (USD) is edging stronger, with USD/JPY moving closer to 162.00 as Asian currencies weaken in an orderly fashion. He highlights a sharp intraday move in the Japanese Yen (JPY) and possible policy discussions between US and Japanese officials.Fxstreet
Tue, Jun 23
AUD/USD Price Forecast: Tests descending channel bottom around 0.6950
AUD/USD continues its losing streak for the sixth consecutive day, trading around 0.6960 during the Asian hours on Tuesday. The technical analysis of the daily chart shows the pair remaining within the descending channel pattern, suggesting a prevailing bearish bias.
Fxstreet
Tue, Jun 23
British Pound: Range trading with downside risk against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that GBP/USD closed little changed at 1.3250 after intraday swings, leaving momentum broadly flat and favoring near-term range trading between 1.3205 and 1.3275.Fxstreet
Tue, Jun 23
Euro: Services PMI reaction in focus – Commerzbank
Commerzbank’s Michael Pfister highlights persistent headwinds for the Euro after dovish comments from European Central Bank (ECB) President Christine Lagarde reduced market expectations to roughly 33 basis points of further tightening this year.Fxstreet
Tue, Jun 23
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