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Category Archives: FX Street

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US Dollar testing highs near 95.70

The greenback has recovered the smile at the beginning of the week, now taking the US Dollar Index to the 95.65/70 band. US Dollar firmer ahead of ISM The index is trimming part of last week’s sharp sell-off from multi-month tops in the 97.60 region

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GBP/USD reverses UK PMI-induced drop, re-takes 1.3200

The latest leg lower in the GBP/USD pair found some support near 1.3170 region, now sending the rate back towards 1.32 handle. GBP/USD: re-attempts 1.3200 Currently, GBP/USD trades -0.29% lower at 1.3190. Recovering quickly from a dip to 1.3173 – session lows. The cable ran

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USD/CAD rises to session high as oil resumes downslide

Extending its rebound from 1.3000 psychological mark, the USD/CAD pair is now trading at session high level near the very important 200-day SMA region ahead of ISM Manufacturing PMI. Renewed weakness in crude oil prices is seen weighing on the Canadian Dollar. Adding to this,

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USD/CHF scope for a test of 0.9522 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair still risks the possibility of a test of 0.9522. Key Quotes “USD/CHF last week topped at .9952 and has spiked down to the .9646 level, there is scope for losses to.9522

Close up shot of oil flowing out of yellow barrel

Oil erases gains, drops -1% on persisting oversupply worries

Oil benchmarks on both sides of the Atlantic failed to sustain in the positive territory and reverted to the red zone in the European session, as oversupply worries overshadowed any recovery in oil. WTI testing $ 41 mark Currently, both crude benchmarks now drop almost

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European stocks risk-on rally loses steam post-UK PMI

The European markets set-off a brand new week on a stronger footing, climbing higher in tandem with the banking stocks in response to weekend’s positive stress tests results. While better-than expected Chinese Caixin manufacturing PMI gauge also lifted the sentiment around the European stocks. In

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EUR/GBP testing highs near 0.8460 on PMI

The softer tone in the Sterling post-PMI has allowed EUR/GBP to challenge daily highs in the 0.8460 area. EUR/GBP supported around 0.8420 The cross has turned positive after UK’s manufacturing PMI has dropped to 48.2 for the month of July, missing forecasts at 49.1 and

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GBP/JPY dips to fresh lows near 135.20 on UK PMI

The cross in the GBP/JPY extended its retreat further into the European session, with the pound having met fresh supply following the release of worse-than expected UK manufacturing PMI report. GBP/JPY weighed by fresh selling in cable Currently, GBP/JPY now trades +0.30% higher at 135.30,

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GBP/USD losing ground on PMI

The British pound is now giving away further ground, sending GBP/USD to test the lower end of the range near 1.3200 the figure. GBP/USD offered post-PMI Spot has come under renewed selling pressure after July’s final manufacturing PMI missed expectations at 48.2 (the lowest level