The GBP/USD exchange rate resumed its downward trend after the recent UK and US economic numbers. The pair dropped to a low of 1.2170 and is nearing its lowest level since October 2023. It has fallen by almost 10% from its highest level in 2024.
During the daily analysis that I do of major currency pairs, the USD/JPY pair has captured my attention as we tried to break down below the ¥155 level, which is an area that has been important multiple times.
Economic strategists speculate that a formidable 60% tariff from the U.S. could force the CNY to depreciate by 10%-12% against the dollar to counterbalance the tariff's sting.
The Canadian dollar was a bit sluggish against most currencies, including the Japanese yen, over the past trading week. At this point, it seems likely that the CAD/JPY currency pair will move in step with many other yen-related pairs.
Some things are just irresolvable. For example, religious conflict and abortion, along with whether tax cuts spur growth sufficient to hold fiscal deficits in check. The bond market won’t be weighing in on religion or women’s rights.
Stocks have continued to be under pressure, even with the occasional pop of upside movement. This downside momentum will likely continue over the near-term. Here is a brief look at various events and factors that may affect trading in 2025.
Equity bulls had a huge week, rallying the S&P 500 index 2.9 percent to 5997, but more work lies ahead as the large cap index closed on dual trendline resistance.
The price of gold dropped late in the North American trading session, but it finished the week with gains of around 0.40% as market players must now await the inauguration of US President-elect Donald Trump.
Last week the USD fell in value vis-a-vis the Yen. We are expecting a bullish breakout, but anticipate it bouncing up and down along the same lines for a while.
Today you will see EURUSD price prediction based on the technical analysis. What is the support and resistance on the daily time frame for EURUSD. What to expect where the price will breakout for the EURUSD based on the supply and demand zones.
The Canadian Dollar (CAD) slumped back into familiar multi-year lows on Friday, sending USD/CAD back above the 1.4400 handle and keeping the Loonie at its lowest bids since the pandemic era.
In my daily analysis of the USD/CHF pair, I recognize that we are drifting a little bit lower but it’s probably worth noting that the market is in the midst of a major hammer from the previous session.
The AUD/USD pair falls sharply to near 0.6180 in Friday’s North American session. The Aussie pair slumps as the US Dollar (USD) gains ground after a three-day losing streak.
The Euro extended its gains versus the Pound Sterling on Friday, posting back-to-back bullish bars and climbing above the crucial 200-day Simple Moving Average (SMA) at 0.8425.
Retail sales in the UK unexpectedly fell in December. Data on Thursday showed a smaller-than-expected increase in retail sales.
All focus is on Trump’s inauguration next week.
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