The yen now stands around 130, a 20-year low versus the US dollar. Economists at Nordea expect the USD/JPY to advance towards the 135 level by year-end.

GBP/USD plunged to its lowest level since July 2020 after Bank of England’s (BoE) gloomy economic outlook. Economists at MUFG Bank believe that cable could extend its slump to the 1.20 level.

EUR/USD has broken below 1.05 for the first time since 2016. Economists at Nordea expect the pair to reach parity later this year, before rebounding in 2023.

The GBP/USD pair recovered its early lost ground from the fresh YTD low and climbed to the top end of its intraday trading range, around the 1.3225 region in the last hour.

The GBP/JPY cross retreated a few pips from the weekly high touched during the first half of the European and was last seen trading just below the 157.00 mark.

EUR/USD reclaims ground lost and advances to the 1.1380 region amidst the improvement in the risk-associated space on Friday.

GBP/USD has managed to edge higher early Friday after having closed the previous three days in the positive territory. As FXStreet’s Eren Sengezer notes, cable approaches resistance that holds the key for further gains.

EUR/CHF has rebounded sharply from the low of 1.0300. The pair is expected to test the 200-day moving average (DMA) located at 1.0700, economists Société Générale report.

“The risk perception is likely to remain the primary market driver. GBP/USD could lose its traction if market participants start to seek refuge.” “On the upside, 1.3600 (psychological level) aligns as the next target before 1.3620 (static level).”

USD/JPY trades with modest losses but the downside seems limited. Economists at Credit Agricole CIB Research believe the pair is still undervalued as it should trade around the 117.50 level.

The AUD/USD pair maintained its bid tone through the first half of the European session and was last seen trading near a two-week high, around the 0.7165-0.7170 region.

The USD/CAD pair lacked any firm intraday direction and seesawed between tepid gains/minor losses, around the 1.2700 mark through the first half of the European session.

GBP pulled back to a low of 1.3505 last Friday before closing on a soft note at 1.3525 (-0.54%). While downward momentum has not improved by much, the pullback in GBP could dip below 1.3500 first before stabilization is likely. 

AUD/USD renews intraday high around 0.7090, up 0.20% on a day during early Monday morning in Europe. In doing so, the Aussie pair portrays a corrective pullback beyond short-term key Fibonacci retracement levels while challenging the 200-HMA. 

EUR/USD is under pressure in the opening session this week, with China returning from holiday's and digesting another bumpy ride on Wall Street on Friday due to upbeat economic data in the form of Nonfarm Payrolls surprises.

USD/CAD consolidates recent losses around 1.2735, down 0.30% intraday while reversing from a three-week high on early Monday morning in Europe. In doing so, the Loonie pair takes a U-turn from a two-month-old horizontal area around 1.2780-85 but bullish MACD signals keep sellers unconvinced around the 50-DMA level of 1.2715.

GBP/USD picks up bids to refresh intraday high near 1.3415, up 0.11% on a day as markets cheer USD pullback during a sluggish start to a crucial week. Also favoring the cable buyers could be the political optimism in the UK.

The markets are trying to stabilise yet there are plenty of risks weighted to the downside for the cross. the technical outlook, as illustrated below, offers a compelling bearish bias while the price tests critical weekly territories. 

EUR/USD hovers around 1.1150 during a sluggish Friday morning as markets take a breather following the heavily volatile session post-Fed. In doing so, the major currency pair rebounds from the lowest levels since May 2020, flashed the previous day, also snapping the four-day downtrend. Even so, the quote braces for the biggest weekly fall since mid-June 2021.

USD/INR is retreating from five-week highs of 75.31, tracking the pullback in the US dollar across the board. The sentiment around the Asian stock markets and US equity futures improves, in the wake of likely easing of the Ukraine tensions and fading Fed rate hike concerns, capping the demand for the safe-haven US dollar.

GBP/USD struggles to keep corrective pullback from the 100-DMA, seesaws around 1.3550 heading into Monday’s London open. In doing so, the cable pair fails to justify the US dollar strength ahead of the key preliminary PMI numbers for January for the UK and the US. 

AUD/USD pares intraday gains around 0.7180, up 0.08% on a day, following an upbeat start to the key week during the early Asian session. The Aussie pair initially ignored mixed Australia PMIs from Commonwealth Bank (CBA) as virus updates were positive.

EUR/USD is under pressure in the opening session for the week and easing off from 1.1345 highs to 1.1332 as risk-off continues on the back of Friday's bearish close on Wall Street. Asian markets are lower on Monday with the Federal Reserve expected to confirm it will soon start draining the massive liquidity that has fulled stock markets for years. 

USD/CAD remains on the back foot around 1.2650, down 0.17% intraday heading into Tuesday’s European session. In doing so, the Loonie pair pays a little heed to the virus woes at home while cheering the cautious optimism at a macro front.

AUD/USD steps back from intraday high to 0.7185 heading into Tuesday’s European session. Even so, the Aussie pair prints a three-day uptrend by the press time.

USD/IDR remains on the back foot around $14,290, printing the fourth consecutive daily loss during early Tuesday. The Indonesian rupiah (IDR) stays depressed amid upbeat Retail Sales data at home and the market’s cautious optimism, which weighs on the US dollar.

USD/INR snaps four-day downtrend near the lowest levels last seen in November during early Tuesday. In doing so, the Indian rupee (INR) pair makes rounds to the 74.00 threshold.

USD/CHF takes the bids to renew intraday peak to 0.9207 during early Monday morning in Europe. The Swiss currency (CHF) pair marked the heaviest daily losses since December 22 before bouncing off the 100-SMA.

24-hour view: “We highlighted last Friday that ‘the weakness in AUD has scope to extend to 0.7135 before stabilizing’. While our view was not wrong as AUD dropped to 0.7130, we did not anticipate the subsequent sharp bounce from the low.

EUR/GBP fades bounce off intraday low near 0.8340 heading into Monday’s European session. In doing so, the cross-currency pair extends Friday’s breakdown of the 100-HMA amid bearish MACD signals.

USD/TRY advances for the sixth consecutive session on Monday in response to the resumption of the buying interest in the greenback and further domestic headwinds facing the lira.

The GBP/USD pair remained on the defensive through the first half of the European session, albeit has managed to recover a few pips from the daily swing low. The pair was last seen trading around the 1.3515-20 region, down less than 0.10% for the day.

The USD/JPY pair edged higher through the early European session and shot to the highest level since November 29, around the 115.35 region in the last hour.

AUD/USD is defending minor bids above 0.7200, having staged a modest comeback from the Asian session lows of 0.7213. The bulls are losing steam amid a cautious tone prevalent in the market, courtesy of the looming risks from the Omicron covid variant contagion.

USD/TRY popped and dropped on the above announcement, reaching as high as 12.54 before reversing sharply to 12.05, where it now wavers. The spot is still adding 2.40% on the day.

The NZD/USD pair seesawed between tepid gains/minor losses through the early European session and was last seen trading in the neutral territory, just below the 0.6800 mark.

USD/ZAR remains on the back foot around a multi-day low, down 0.50% intraday close to $15.55 heading into Monday’s European session.

The USD/JPY pair traded with a mild positive bias through the early European session and was last seen hovering near the monthly top, around mid-114.00s.

Following last week's rebound, EUR/USD seems to have settled above 1.1300 on Monday. According to FXStrteet’s Eren Sengezer, it would be surprising to see the pair make a decisive move in either direction.

The USD/JPY pair traded with a mild positive bias heading into the European session and was last seen hovering near the daily high, around the 113.70-75 region. Following the previous day's subdued price moves, the USD/JPY pair gained some positive traction on Tuesday

GBP/JPY refreshes intraday high to 150.38, up 0.16% on a day while consolidating the latest losses ahead of Tuesday’s European morning. The cross-currency pair keeps the bounce off a two-week-long ascending support line amid bullish MACD signals to direct GBP/JPY towards 78.6% Fibonacci retracement level of July-October upside, near 150.50.

The NZD/USD pair held steady around the 0.6725 area through the early European session, albeit seemed struggling to capitalize on its intraday bounce from a fresh YTD low.

The EUR/USD pair edged higher during the early European session and refreshed daily high in the last hour, with struggled to capitalize on the move or reclaim the 1.1300 mark.

The USD/CAD pair surrendered a major part of its modest intraday gains and was last seen trading just a few pips above the daily low, around the 1.2835 region.

EUR/GBP prints mild gains above the 0.8500 threshold heading into the key European session on Thursday. In doing so, the cross-currency pair justifies the previous day’s Doji candlestick beyond 100-DMA.

One-month risk reversal (RR) of USD/CHF, a gauge of calls to puts, remains pressured for the third consecutive day, recently down by -0.025 per the data source Reuters.

USD/TRY prices drop 0.15% intraday to $14.37 during early Tuesday, after refreshing the all-time high with $14.64 level the previous day. In doing so, the Turkish lira (TRY) pair tracks RSI pullback from oversold territory.

USD/INR treads water around the highest levels since June 2020, defending the 76.00 threshold heading into Wednesday’s European session. While hawkish hopes from the US Federal Reserve (Fed) seem to have helped the USD/INR bulls to refresh multi-month high the previous day

USD/IDR remains pressured around intraday low, down 0.05% on a day near $14,320 amid early Wednesday morning in Europe. The Indonesian rupiah pair refreshed weekly low the previous day but stayed sidelined afterward.

AUD/USD is reversing a brief dip below 0.7100 but the bearish bias remains intact amid a broadly firmer US dollar and the prevalent risk-off market profile. Fears over the rapid spread of the Omicron covid variant worldwide, with the Australian state of New South Wales (NSW) 

The USD/JPY pair oscillated in a narrow trading band through the Asian session and was last seen hovering in the neutral territory, just above mid-113.00s. A combination of diverging forces failed to assist the USD/JPY pair to capitalize on the previous day's modest gains and led to a subdued/range-bound price move on Tuesday.

USD/CAD grinds higher around the weekly top, recently easing from intraday high to 1.2820 ahead of Tuesday’s European session. In doing so, the Loonie pair probes the previous four-day run-up from the lowest levels since November 19.

EUR/GBP remains on the back foot around daily lows near 0.8535, down 0.07% intraday ahead of the UK jobs report, up for publishing amid early Tuesday.

The GBP/USD pair held steady above the 1.3200 round-figure mark and moved little following the release of the UK monthly employment details. The UK Office for National Statistics reported that the number of people claiming unemployment-related benefits dropped by 49.8K in November as against the 14.9K fall in the previous month.

EUR/USD drops back to 1.1300, following the previous day’s corrective pullback heading into Monday’s European session. In doing so, the major currency pair drops 0.20% intraday while staying inside a short-term bearish chart formation at the latest.

USD/CAD licks wounds near 1.2715 during early Monday morning in Europe. In doing so, the Loonie pair portrays a rising wedge bearish formation on the one-hour chart.

AUD/USD fades Friday recovery moves, easing to 0.7170 ahead of Monday’s European session. The Aussie pair initially cheered the market’s optimism and stimulus news from Australia, as well as China, to pare the day-start losses.

USD/ZAR pokes intraday high around $15.97, up 0.08% on a day heading into Monday’s European session. The South African currency (ZAR) pair crossed a fortnight-old descending trend line, as well as the 200-HMA, the previous day but failed to cross the $16.10 hurdle of late.

EUR/CZK failed to overcome the upper limit of a multi month descending channel near 25.75 resulting in retraction of recent gains – it has recently drifted towards 25.35. A break below here would open up the lower band of the channel at 25.16, analysts at Société Générale report.

The EUR/GBP cross traded with a mild positive bias through the first half of the European session, albeit seemed struggling to capitalize on the move beyond mid-0.8500s.

The Mexican peso is among the top EM currencies this week with USD/MXN trading below 21.00. However, economists at Société Générale expect the pair to edge higher towards 22.70 as the 20.55 mark should cushion the pullback.

EUR/GBP prints the biggest daily gains of the week, up 0.14% intraday around 0.8525 . The cross-currency pair dropped to a one-week low the previous day before bouncing off 50-DMA and 38.2% Fibonacci retracement (Fibo.) of September-November declines.

The GBP/USD pair traded with a mild positive bias heading into the European session and was last seen hovering around mid-1.3200s, up only 0.10% for the day.

USD/ZAR takes rounds to $15.85-80, down 0.05% while challenging the previous two-day downtrend during early Wednesday morning in Europe. The South African currency (ZAR) pair struggles to cheer the broad US dollar weakness as the national GDP flashed negative surprise the previous day.

AUD/USD sellers attack yearly bottom surrounding 0.7100 in a fresh wave of selling ahead of Tuesday’s European session. The latest fall in Aussie prices could be linked from the markets fears that the global medicine suppliers will lack strength to overcome the Omicron-led virus woes.

GBP/JPY takes offers around 150.55, the lowest levels since October 04, during early Tuesday morning in Europe. In doing so, the cross-currency pair not only reverses the previous day’s corrective pullback but also braces for the biggest monthly fall since September 2020.

USD/ZAR stays firmer around $16.20, despite the recent pullback from intraday high, amid early Tuesday morning in Europe. In doing so, the South African currency (ZAR) remains on the back foot around the lowest levels in a year

One-month risk reversal on USD/CAD, a measure of the spread between call and put prices, dropped to the lowest levels since November 04 on Monday, per Reuters.

USD/INR remains on the back foot around 74.85, down 0.20% intraday during early Monday morning in Europe. The Indian rupee (INR) pair poked the monthly high the previous day while posting the heaviest daily jump since June 17.

USD/TRY remains range-bound near $12.40 heading into Monday’s European session. The Turkish lira (TRY) pair snapped a two-day downtrend the previous day while staying past a weekly ascending support line.

EUR/GBP takes offers to refreshes intraday low near 0.8455, down 0.23% intraday ahead of Monday’s London open. The cross-currency pair jumped the most since early November the previous day amid grim concerns over the South African variant of the coronavirus.

“While we expected USD/MYR to strengthen last week, we were of the view that ‘the prospect for a break of Sep’s high at 4.1990 is not high’. We clearly underestimated USD/MYR strength as it not only cracked 4.1990 but also rose above the Aug’s top of 4.2430 (high of 4.2470 on Friday).”

​Cable has drifted below 1.33 on risk-off. Next support is seen at the 1.3250 level. Holding above here, GBP/USD could stage a short-term bounce, economists at Société Générale report. 1.3250 is next support “GBP/USD is in vicinity to the support of 1.3250 representing weekly Ichimoku cloud. Defending this can result in a short-term rebound.”

24-hour view: “We highlighted yesterday that USD ‘could break 6.4000’. However, USD traded in a quiet manner and within a narrow range of 6.3866/6.3964. The quiet price actions offer no fresh clues and USD could continue to trade sideways, likely between 6.3830 and 6.3970.”

EUR/JPY extends the downside and revisits the 12800 region at the end of the week. The continuation of the downtrend remains in the pipeline and therefore another visit to the monthly low at 127.97

GBP/USD seems to have gone into a consolidation phase below 1.3400 following a three-day decline. Economists at OCBC Bank expect the cable to find little support on its way to the 1.3150 level.

USD/TRY bulls pause around all-time high, easing to $12.95 during early European morning on Wednesday. That said, mixed data from Turkey fails to renew the upside momentum amid cautious optimism in the market weighing on the US dollar bulls.

USD/CAD is tracking the ongoing strength in the US dollar across its main competitors, consolidating near seven-week tops, starting out a fresh week on the right footing.

USD/INR is building onto Friday’s recovery, as it heads towards 74.50 amid the recent strength in the US dollar across the board. The covid resurgence in Europe bolstered the dollar’s safe-haven appeal while expectations of hastened Fed’s tapering lifted the Treasury yields, adding further to the greenback’s upside.

GBP/USD is attempting a tepid recovery towards 1.3450 heading into the European open, as the risk sentiment improves. However, the further upside appears elusive amid stronger US dollar and persistent Brexit worries.

The AUD/USD pair edged higher heading into the European session and climbed back above mid-0.7300s, or a fresh daily top in the last hour. Having found some support near the 0.7325 area, the AUD/USD pair gained some positive traction on Monday 

USD/INR takes offers to refresh intraday low around 74.40 ahead of Wednesday’s European session. In doing so, the Indian rupee (INR) pair reverses the previous day’s bounce off the 100-DMA below a downward sloping trend line from October 12.

The USD/CAD pair continues to ride on the higher side for the second consecutive day on Wednesday. At the time of writing, the currency pair is firmly holding its ground above the 1.2570 level with a high of 1.2586 and a low of 1.2553.

EUR/USD is struggling to extend the recovery from a new 16-month lows of 1.1264, currently battling 1.1300, as the US dollar clings onto the recent upside. However, retreating US Treasury yields offer some relief to the EUR bulls while oversold conditions on the daily technical chart also come to the rescue of the bullish traders.

GBP/CAD stays firmer around 1.6875, keeping the previous day’s upside break of the key resistance ahead of Wednesday’s European session. In doing so, the cross-currency pair confirms the bullish formation called falling wedge amid the bullish MACD signals before the release of the UK’s Consumer Price Index (CPI).

USD/CNH remains on the back foot around $6.3770, down for the fourth consecutive day on early Monday. The reason could be linked to upbeat China data and monetary injection from the People’s Bank of China (PBOC).

The GBP/USD pair is trading around 1.3430 level during Asian hours on Monday, supporting last week's gains, as the investors look for signs of a Bank of England (BOE) rate hike.

AUD/JPY is trading around 83.50 during the Asian session on Monday, as the gross domestic product (GDP) data of Japan's July-September quarter disappoints. Further, upbeat Chinese Retail Sales and Industrial Production data underpin the sentiment around the aussie. 

The Turkish lira has plummeted to a record low of 9.9859 against the US dollar. Economists at Société Générale expect the pair to challenge the 10.00 psychological level as the Central Bank of the Republic of Turkey (CBRT) may deliver a 100bp rate cut next week.

The GBP/JPY cross held on to its modest intraday gains through the first half of the European session, albeit lacked any follow-through buying and remained below the 153.00 mark.

EUR/USD has retreated below 1.15 for the first time since July 2020. Economists at Société Générale expect the pair to extend its downtrend towards the next support at 1.1380.

AUD/JPY portrays a 60-pip fall to mid-85.00s on the Reserve Bank of Australia’s (RBA) moves during early Tuesday.

USD/CAD remains firmer around the day’s top of 1.2385, up 0.11% intraday ahead of the European session. That said, the quote remains inside a four-day-old symmetrical triangle by the press time of Tuesday.

USD/CHF remains defensive around the lowest levels since early August, up 0.05% intraday near 0.9095, as European traders brace for Tuesday’s bell. The Swiss currency pair dropped heavily the previous day

GBP/USD is under pressure below 1.3700, trying to find its feet after Friday’s severe blow. The bears retain control amid a broadly stronger US dollar and looming Brexit risks.

EUR/USD remains sidelined around 1.1550, following the heaviest daily fall since mid-June, heading into Monday’s European session. Having witnessed the European Central Bank’s (ECB) failed attempt to hide hawkish intentions, the market turns towards the US Federal Reserve (Fed) with high hopes of tapering hints.

USD/TRY traders struggle inside a one-week-old bullish chart formation during the pre-European session on Monday. The pair’s consolidation from record top takes clues from a downbeat Momentum line, flashing 0.10% intraday loss around $9.5970 by the press time.

USD/IDR stays firmer around $14,240, recently easing to $14,235, ahead of Monday’s European session. The Indonesian rupiah (IDR) pair recently ignored firmer Indonesia numbers amid fears concerning China and economic growth at home.

AUD rates continue to be in focus after the Reserve Bank of Australia once again did not defend its yield target. Economists at Citibank expect the AUD/USD to turn back lower as the 0.7550 level proves to be a tough resistance.

The USD/CAD pair quickly recovered around 20 pips from daily lows touched in the last hour and was last seen trading with modest intraday gains, around mid-1.2300s.

GBP/JPY continues to push higher, having printed a fresh high at 158.22 last Friday. Benjamin Wong, Strategist at DBS Bank, expects the pair to lurch even higher.

The USD/CAD pair bounced nearly 30 pips from the early European session lows and was last seen trading just a few pips below daily tops, around the 1.2370 region.

The AUD/USD pair was last seen hovering just below the key 0.7500 psychological mark. Economists at OCBC Bank expect the aussie to fail to surpass the 0.7550/60 resistance zone.

The GBP/USD pair struggled to preserve its intraday gains to the 1.3800 neighbourhood and has now retreated to the lower end of its daily trading range. The pair was last seen hovering around mid-1.3700s, just a few pips above lows touched during the Asian session.

GBP/USD seems to have lost its footing following the disappointing Retail Sales data early Friday. Economists at MUFG Bank have brought forward their call for a hike to November. 

USD/CHF is weighing on the downside. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, would allow for a slide back to the 2020- 2021 uptrend at 0.9081.

EUR/JPY’s near-term risks are on the downside. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to extend its move downward to the 127.94/50 region.

The EUR/USD pair stays relatively quiet as investors await October PMI figures. If the data fails to meet market expectations, the common currency could suffer renewed downside pressure, economists at MUFG Bank report.

EUR/JPY is near the June high of 134.12. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, would allow for some profit-taking ahead of the June high of this level.

USD/CAD is staging a decent comeback from four-month lows of 1.2289, heading towards 1.2350, in response to a broad-based rebound in the US dollar.

The NZD/USD pair extended its retracement slide from multi-month lows and was last seen hovering near the lower end of the daily trading range, around the 0.7175 region.

The GBP/USD pair witnessed some selling on Thursday and dropped to sub-1.3800 levels during the first half of the trading action, though lacked any follow-through.

USD/INR stays offered around an intraday low of 75.05, down 0.07% on a day as European traders prepare for Wednesday’s bell. In doing so, the Indian rupee (INR) pair drops for the second consecutive day as positive headlines concerning India join the softer US dollar.

24-hour view: “Yesterday, we highlighted that ‘GBP could edge higher but it is unlikely to break the resistance at 1.3770’. We did not anticipate the surge in momentum that sent GBP soaring to 1.3834. The sharp and rapid advance appears to be overdone and GBP is unlikely to strengthen further."

USD/TRY remains pressured around intraday low of $9.2899, seesaws of late ahead of Wednesday’s European session. In doing so, the Turkish Lira (TRY) pair struggles to justify the US dollar weakness, as well as negative headlines concerning Turkey.

GBP/AUD has cratered from its late September 1.8961 highs. But any onward decline runs into a layer of robust support broadly in the 1.8304-1.8235 patch, Benjamin Wong, Strategists at DBS Bank, reports.

EUR/CHF pivots away from 1.07. However, the down move could persist with next support levels seen at 1.0660 and the 1.05 2020 low, economists at Société Générale report.

The USD remained heavily offered through the first half of the European session and pushed the GBP/USD pair to one-month tops, closer to the 1.3800 mark in the last hour.

The price of USD/INR met the daily support zone and is now in the process of consolidation at a critical juncture. If the price fails to move higher from here, there is an argument for a long term consolidation with 74.50 eyed as a downside target

The USD/CAD pair bounced around 40 pips from the Asian session lows and was last seen hovering near the top end of its intraday trading range, around the 1.2385-90 region.

The EUR/USD pair remains subdued in the Asian session on Monday. The pair opens up near 1.1600 but fails to preserve the upside momentum. At the time of writing, EUR/USD is trading at 1.1587, down 0.09%.

24-hour view: “We highlighted yesterday that ‘there is room for GBP to advance to 1.3695, possibly 1.3715’. The subsequent advance exceeded our expectations as GBP rose to 1.3734. However, GBP pulled back sharply from the high."

The GBP/JPY cross-currency pair posts gains for the eight-straight session. The pair seems exhaustive near the five-year highs around 157.40. At the time of writing, GBP/JPY is trading at 157.04, up 0.02% for the day.