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07.03.2023 Market Report

EUR/USD EUR/USD is keeping its range play intact below 1.0700 in the early European morning. The pair is helped by a cautiously optimistic market mood. Traders give up on the US Dollar amid weaker US Treasury yields ahead of Fed Chair Powell’s testimony.  GBP/USD GBP/USD is trading close to 1.2050, sustaining the rebound ahead of the London open. Renewed Brexit concerns, as DUP seeks consultation on the post-Brexit deal, could limit the upside in the pair, despite a broadly weaker US Dollar. Powell’s

06.03.2023 Market Report

EUR/USD EUR/USD is extending gains to near 1.0660 early Monday, underpinned by renewed US Dollar weakness. Markets shrug off disappointing China’s GDP growth target, as they adjust their positions ahead of a busy week. Eurozone Sentix and Retail Sales data coming up next.  GBP/USD GBP/USD is trading on the back foot below 1.2050 in the early European morning. The pair fails to benefit from a broadly subdued US Dollar, as the market sentiment remains mixed and Brexit optimism fades. US economic data and Powell’s

03.03.2023 Market Report

EUR/USD EUR/USD has scaled back above 1.0600 in early Europe this Friday. The pair is helped by a broad-based US Dollar weakness amid retreating US Treasury bond yields and an upbeat mood. The Euro finds demand from hawkish ECB commentary. US ISM PMI data eyed.  GBP/USD GBP/USD is extending the rebound toward 1.2000 in the early European morning. A better risk profile combined with a broadly weaker US Dollar is aiding the renewed upside in the pair. UK Final Services PMI and US

02.03.2023 Market Report

EUR/USD The EUR/USD pair is on the verge of delivering a sheer downside move as it is looking vulnerable below the critical support of 1.0660. The downside bias in the major currency pair is backed by soaring US Treasury yields. GBP/USD GBP/USD bears attack the 1.2000 psychological magnet during a three-day downtrend amid fresh challenges for the Brexit deal and a rally in the US Treasury bond yields. However, the market’s lack of action heading into Thursday’s London open appears to restrict the Cable pair’s