USD/CAD sticks to modest recovery gains, remains below 1.3700 ahead of US data

USD/CAD

The USD/CAD currency pair continued to cling to its modest recovery gains, albeit staying below the crucial 1.3700 level, as traders adopted a cautious stance ahead of key economic data releases from the United States. Throughout the trading session, the pair showed resilience, gradually clawing back some ground following recent losses. However, despite the uptick,…

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EUR/USD recovers after US economic myth dented

EUR/USD

In a dramatic turn of events, the EUR/USD currency pair staged a significant recovery following a series of revelations that cast doubt on the perceived invincibility of the US economy. The pair, which had been under pressure due to a strong dollar, saw a reversal as confidence in the euro surged amidst growing skepticism about…

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FX option expiries for Apr 18 NY cut

FX option expiries

On April 18th, the focus in the foreign exchange (FX) market is on option expiries for the New York cut. Traders are closely monitoring these expiries as they can often influence short-term price action and market dynamics. The expiration of FX options can lead to increased volatility and trading activity around key strike prices, as…

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USD/INR loses traction, eyes on potential RBI intervention

USD/INR loses traction

The USD/INR pair experienced a declining momentum, with market attention turning towards potential intervention by the Reserve Bank of India (RBI). The Indian rupee exhibited strength against the US dollar, reflecting positive sentiment in the local currency markets. Analysts speculate that the recent shift in the pair could prompt the RBI to step in to…

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GBP/JPY attracts some buyers above 192.00 following UK CPI data

GBP/JPY

GBP/JPY has witnessed a surge in buying interest above the key level of 192.00 following the release of upbeat UK Consumer Price Index (CPI) data. The latest CPI figures, released by the Office for National Statistics, revealed a notable increase, surpassing market expectations and boosting optimism surrounding the UK economy’s recovery. This positive data has…

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Forex Today: UK inflation data support Pound Sterling, US Dollar consolidates before Fedspeak

UK inflation data

In today’s forex markets, the Pound Sterling finds support following the release of encouraging UK inflation data. The Office for National Statistics reported that inflation rose to 2.5% in March, surpassing expectations and fueling optimism about the UK economy’s recovery from pandemic-induced lows. This uptick in inflation adds pressure on the Bank of England to…

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India Gold price today: Gold rises, according to MCX data

India Gold price today

Today’s market update reveals a rise in gold prices in India, as reported by MCX (Multi Commodity Exchange). This uptick in gold’s value reflects a variety of factors influencing the precious metal’s performance in the current economic landscape. One significant driver of the increase in gold prices could be heightened investor interest in safe-haven assets…

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AUD/JPY falls to near 99.00 amid market caution, awaits Israel’s reaction to Iran’s attack

AUD/JPY

The AUD/JPY pair has experienced a notable decline in the latest market developments, edging closer to the 99.00 mark. This downturn comes amidst a backdrop of cautious sentiment prevailing in the market. Investors closely monitor geopolitical tensions, particularly the escalating situation between Israel and Iran. The recent attack by Iran has heightened uncertainty, prompting a…

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EUR/GBP remains below 0.8550 amid improved Eurozone manufacturing figures

EUR/GBP

In the latest market developments, the EUR/GBP pair continues to trade below the crucial threshold of 0.8550, driven by renewed momentum following the release of improved manufacturing figures from the Eurozone. This data showcases a potential strengthening of economic activity within the Eurozone, bolstering investor confidence in the euro. The Eurozone manufacturing sector has shown…

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