USD/JPY recovers as traders buy the dip

USD/JPY

USD/JPY staged a recovery as traders seized the opportunity to buy the dip in the currency pair. After a period of decline, the pair saw renewed interest from investors looking to capitalize on the lower price levels. One of the factors contributing to the recovery of USD/JPY was the return of risk appetite in the…

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EUR/JPY extends recovery above 168.00 on upbeat Eurozone data

EUR/JPY

EUR/JPY continued its upward trajectory, surpassing the key level of 168.00, buoyed by encouraging economic data from the Eurozone. The euro found support as the region’s economic indicators painted a positive picture, fueling optimism among investors. One of the primary drivers behind the euro’s strength was the upbeat Eurozone data, including robust manufacturing and services…

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EUR/USD recovers on weaker US Services PMIs

EUR/USD

The EUR/USD currency pair staged a recovery as the US Services PMIs (Purchasing Managers’ Index) exhibited unexpected weakness, signaling potential challenges for the American economy. The Euro strengthened against the US Dollar as investors reacted to the data, which indicated a slower-than-anticipated expansion in the US services sector. This development contrasted with earlier market expectations,…

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Forex Today: EU inflation figures, US employment data and PMI report to drive the action

EU inflation figures, US employment data

In today’s forex market, traders are closely monitoring a trifecta of influential factors poised to shape market sentiment: EU inflation figures, US employment data, and the Purchasing Managers’ Index (PMI) report. Firstly, eyes are on the European Union’s inflation data, a crucial gauge of economic health. Any surprises in these figures could potentially sway the…

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Forex Today: Gold surges to new record high on Easter Monday

Gold surges

In a remarkable surgeon Easter Monday, the price of gold soared to unprecedented heights, setting a new record high in the forex market. As financial markets reopened after the holiday weekend, investors were greeted with a flurry of activity, particularly in the precious metals sector. Gold, often considered a haven asset, experienced a dramatic rally,…

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Asia FX flat as dollar rises before the Fed; yen plumbs 4-mth lows

Asia FX flat as dollar rises

Most Asian currencies moved little on Wednesday amid caution before more signals on interest rate cuts from the Federal Reserve due later in the day, with the dollar sitting at two-week highs. The Japanese yen extended its declines after the Bank of Japan struck a largely dovish chord, despite hiking interest rates for the first…

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