Analysis

NZD/USD extends its losing streak for the third consecutive day, trading around 0.5830 during the European hours on Friday.

EUR/USD remains on a downward trend for the third consecutive session, hovering around 1.0470 during the Asian trading hours on Friday. The pair dropped to a low of 1.0462 on Thursday, a level not seen since October 2023.

The immediate resistance level emerges at 107.45; the first downside target to watch is 106.00.

Pound Sterling gathers strength against its peers early Wednesday, supported by the stronger-than-forecast inflation readings for October. Later in the day, investors will pay close attention to comments from Federal Reserve (Fed) and Bank of England (BoE) policymakers. 

USD/CAD consolidates in a range near a one-week low amid mixed fundamental cues.

NZD/USD may face challenges as traders expect the RBNZ to deliver a substantial rate cut next week. The US Dollar gains ground due to dampened odds of an imminent Fed rate cut.

USD/CAD holds above 1.4000 and draws support from a combination of factors.

The Dollar Index (DXY) rebounded by 5.9% to 106.7 in the past 1.5 months, following its 4.8% decline to 100.8 in 3Q24, DBS’ Senior FX Strategist Philip Wee notes.

GBP/USD breaks its six-day losing streak, trading around 1.2630 during the Asian hours on Monday. The daily chart analysis shows the sellers' control weakens as the pair moves downwards within the descending wedge pattern. This signals a potential bullish reversal for the pair.

The AUD/USD pair trades on a stronger note around 0.6460 during the early Asian session on Monday.

Scope for the Pound Sterling (GBP) to retest the 1.2630 level; the major support at 1.2615 is unlikely to come under threat. In the longer run, GBP is expected to continue to weaken to 1.2615, possibly 1.2565, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

GBP/USD breaks its five-day losing streak, trading around 1.2680 during the early European session on Friday.

The USD/CAD pair holds steady near 1.4065 during the early European session on Friday.

The GBP/USD pair extends the decline to near 1.2685 during the Asian trading hours on Thursday. A rally in the US Dollar (USD) to the highest level since November 2023 weighs on the major pair. The Bank of England (BoE) Governor Andrew Bailey is set to speak later on Thursday. 

The Dollar Index (DXY) powered higher for a third session to 106, fully retracing its third-quarter decline, DBS’ Senior FX Strategist Philip Wee notes.

The NZD/USD pair holds ground after registering losses in the previous session, trading around 0.5920 during European hours on Wednesday.

USD/CAD moves upwards for the fourth successive session, trading around 1.3960 during the early European hours on Wednesday.

Together with US bond yields, the dollar has risen sharply since late September, rebounding from the low of 100.24.

The GBP/USD pair extends its downside to near 1.2840 on Tuesday during the early European session. The Greenback remains firm as Trump trades continue to rally. Investors will closely monitor the UK employment data, which is due later on Tuesday.

Traders brace for the US CPI inflation data, which is due on Wednesday.