Slowing momentum suggests that instead of continuing to weaken, Euro (EUR) is more likely to trade in a sideways range of 1.1585/1.1655 against US Dollars (USD).
The Greenback resumed its uptrend on Thursday, rapidly reversing the previous day’s pullback as investors assessed auspicious US data releases while keeping a close watch on the Trump-Powell effervescence and developments around trade.
Silver price advances as Thursday’s North American session begins, up by 0.07% after printing gains of over 0.50% on Wednesday, courtesy of weaker-than-expected data that pushed precious metals higher. At the time of writing, XAG/USD is trading at $37.90, which is below the $38.00 figure.
Sharp drop appears overdone; instead of weakening further, Euro (EUR) is more likely to consolidate in a range of 1.1580/1.1650 against US Dollar (USD).
FX option expiries for Jul 16 NY cut at 10:00 Eastern Time via DTCC can be found below.
The Euro (EUR) is trading in a narrow range against the Swiss Franc (CHF) on Tuesday, with price action consolidating near the 0.9300 mark.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground after registering gains in the previous four consecutive sessions and trading around 98.00 during the early European hours on Tuesday.
FX option expiries for Jul 15 NY cut at 10:00 Eastern Time via DTCC can be found below.
Silver price forms a ‘shooting star’ candle chart pattern amid a day in which precious metals were pressured as traders priced in initial risk-off sentiment.
FX option expiries for Jul 14 NY cut at 10:00 Eastern Time via DTCC can be found below.
The USD/CHF consolidates during the North American session, is flat below the 0.8000 figure, poised to finish the week with 0.36% gains. A risk-off mood bolstered the Greenback, which so far has recovered some ground during the current week.
The Australian Dollar is showing an exceptional bullish tone on Friday’s European morning session.
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The US Dollar reversed two daily drops in a row and charted acceptable gains on Thursday, following steady tensions on the trade front and another firm print from the weekly report on the US labour market.
Euro (EUR) could edge higher against US Dollar (USD); any advance is likely part of a higher range of 1.1700/1.1755. In the longer run, no change in view; there is still a chance (albeit a limited one) for EUR to pull back to 1.1660, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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Silver price registered losses of over 1% on Wednesday after the US Federal Reserve (Fed) unveiled its June meeting minutes, hinting that policymakers are eyeing just one interest rate cut, instead of the two priced in by investors. Although the Greenback was unchanged, the grey metal tumbled.
Euro (EUR) is expected to trade in a range between 1.1690 and 1.1760 against US Dollar (USD). In the longer run, EUR strength from late last month has ended; the current pullback could extend to 1.1660, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Ripple (XRP) is gradually edging higher, backed by steady interest in the token, especially in the derivatives market.
FX option expiries for Jul 8 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
Silver price seesaws around a $36.15-$37.22 range on Monday, but it is set to finish the day with losses of over 0.23% at $36.74 at the time of writing.
As investors remained wary over trade tensions following President Trump's announcement of tariffs on Japan and South Korea, the Greenback gained momentum, rising to multi-day highs and sparking a generalised strong correction in the risk-associated space on Monday.
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Silver price traded sideways on Friday, remaining virtually unchanged at $36.84, due to thin trading volumes as US markets were closed for a holiday.
Euro (EUR) is expected to trade in a range between 1.1730 and 1.1805. In the longer run, upward momentum is slowing rapidly, but there is a slim chance for EUR to rise toward 1.1830 before a more sustained and notable pullback is likely, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
FX option expiries for Jul 4 NY cut at 10:00 Eastern Time vi a DTCC can be found below.