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USD/CAD Price Analysis: Evident Policy Outlook Divergence
Data from Canada revealed a smaller-than-expected 0.2% expansion in the economy. Investors are currently placing a 60% chance the BoC will cut rates in June. While investors expect 54bps of cuts in Canada, they only expect 32bps in the US. The USD/CAD price analysis turned bullish as data from Canada and the US underscored the...
GBP/USD Price Analysis: Buyers Dominate Ahead of FOMC
The dollar was firm ahead of the Fed’s policy meeting on Wednesday. The outlook for rate cuts in the US has diverged significantly from other countries. Market participants expect the first BoE cut in August. The GBP/USD price analysis reveals a mild bullish sentiment continuing from last week’s momentum. However, the dollar endeavors to firm...
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USD/JPY Forecast: Yen Surges on Intervention Fears
Investors believe Japanese authorities intervened to support the yen. The gap in interest rates between Japan and the US remains wide. The US core PCE price index held at 0.3% from the previous month. The USD/JPY forecast turned bearish as the markets plummeted from a whopping 160.00 level amid intervention fears. The pair pulled back...
GBP/USD Outlook: Dollar Slides on Disappointing GDP Figures
Wednesday’s data revealed weaker US economic growth in the first quarter. A measure of US core personal consumption expenditures jumped by 3.7%. Investors are cautious ahead of today’s core PCE price index report. The GBP/USD outlook remains bullish as the dollar loses ground following a disappointing gross domestic product report. However, the inflation figures buried...