Month: April 2022

USD/INR Price News: Bounces in early trade from 76.30 on higher oil prices

USD/INR is marching towards 76.40 as DXY strengthens on jumbo rate hike expectations. Shanghai’s reopening and supply concerns in Libya have pushed the oil prices higher. The political crisis in Libya has seized up the oil exports. The USD/INR pair has been bounced modestly in its early trade on Monday from...
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EUR/USD risks further decline near term – UOB

FX Strategists at UOB Group Quek Ser Leang and Lee Sue Ann noted EUR/USD could still drop further in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that EUR ‘could drift lower to 1.0780’. We added, ‘last week’s low near 1.0755 is unlikely to come into the picture’. Our...
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GBP/JPY shoots above 166.00 as yen weakens amid higher energy prices

GBP/JPY has surpassed the resistance of 166.00 as the pound strengthens on higher CPI. Higher energy bills are widening Japan’s fiscal deficit. Japan’s National CPI is seen at 1.3% against the prior print of 0.9%. The GBP/JPY pair is witnessing a bullish open test-drive session on Tuesday amid broader...
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AUD/USD Price Analysis: Bulls keeping on, but bears lurking

AUD/USD is meeting a firm support area following the RBA minutes.  Bears lurking near a presumed resistance area through 0.74 the figure.  AUD/USD is meeting a dynamic trendline support line and the bulls are eyeing a 38.2% Fibonacci retracement and a higher 50% mean reversion towards 0.7420.  AUD/USD daily chart As illustrated,...
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PBOC unlikely to cut LPR on Wednesday – Goldman Sachs

According to the analysts at Goldman Sachs, the People’s Bank of China (PBOC) will refrain from cutting the one-year and five-year Loan Prime Rates (LPR) on Wednesday. Key quotes “The PBOC seems concerned about “spillover effects” as other countries raised interest rates. For example, capital outflow from China.” “Also,...
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