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NZD/USD may face immediate resistance near the nine-day EMA at 0.5912.The 14-day RSI sits at the 50 level, indicating a neutral bias.The pair may retest initial support at the rectangle’s lower boundary around 0.5850.The NZD/USD pair retraces its recent losses registered in the previous session, trading around 0.5890 during the European hours on Tuesday. The technical analysis of the daily chart suggests a neutral outlook, with the pair consolidating within a rectangular range.Additionally, the 14-day Relative Strength Index (RSI) is positioned on the 50 mark, suggesting a neutral bias. A clearer directional trend may emerge with further price movement. However,…

The rupee appreciated 74 paise to 84.62 against the US dollar in early trade on Tuesday, supported by optimism from easing of tensions between India and Pakistan as well as the US-China trade deal. Forex traders said continued foreign investor interest in Indian assets lent fundamental support to the local unit. India and Pakistan on last Saturday announced reaching an understanding to stop all firings and military actions on land, air and sea, with immediate effect. At the interbank foreign exchange, the domestic unit opened at 84.70 and fell to an early low of 84.74 and a high of 84.62…

Gold price trades in negative territory around $3,235 in Tuesday’s Asian session. US and China agreed to de-escalate their trade war by lowering import tariffs on each other’s goods for 90 days. Traders brace for the US April CPI inflation report, which is due later on Tuesday. The Gold price (XAU/USD) edges lower to around $3,235 during the early Asian session on Tuesday. The precious metal remains on the defensive due to a stronger US Dollar (USD), higher US yields, and optimism on the US-China trade deal. Later on Tuesday, traders will take more cues from the US April Consumer Price Index (CPI)…

US Trade Representative Jamieson Greer said late Monday that China has agreed to remove countermeasures. However, if things don’t work out, China tariffs can go back up.Key quotesChina has agreed to remove countermeasures.Outcome of China tariff talks ‘pragmatic’.If things don’t work out, China tariffs can go back up.Market reactionAt the time of writing, the AUD/USD pair is trading 0.03% higher on the day to trade at 0.6375. US-China Trade War FAQs Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as…

EUR/CAD trades around the 1.5600 zone after a modest decline in Monday’s session.Short-term indicators confirm bearish sentiment, while longer-term trends remain mixed.Key support levels hold below, while resistance clusters just above the current range.The EUR/CAD pair traded near the 1.5600 zone on Monday, reflecting a minor loss after the European session as selling pressure persisted. The pair remains within the middle of its daily range, suggesting cautious sentiment as traders assess the broader outlook. While short-term momentum remains tilted to the downside, longer-term trend indicators provide a more supportive backdrop, adding complexity to the current technical picture.From a technical standpoint,…

The Euro (EUR) is weak, down 1.5% vs. the US Dollar (USD) and seeing its largest one day decline since early November, around the time of the US election, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Yield moves in Europe fail to keep pace with US”The outlook for relative central bank policy is pressuring the EUR as relief over the US/China trade détente forces a continued reassessment of the outlook for Fed easing with markets paring back at least 10bpts of cuts by December.” “European bond markets are also showing losses (yield gains) but are failing to keep pace with…

The rupee pared its initial losses and settled for the day higher by 22 paise at 85.36 against the US dollar on Friday, as likely intervention by the Reserve Bank of India helped contain excess depreciation of the rupee. Forex traders said the rupee opened on a weak note due to the armed conflict between India and Pakistan, however, RBI intervened to prevent major weakness. At the interbank foreign exchange, the domestic unit opened at 85.88 and moved between the intra-day high of 85.32 and the low of 85.88 against the greenback. The unit ended the session at 85.36, registering…

The USD/JPY outlook shows a loss of appeal for safe-haven currencies. China and the US finally agreed to pause the tariffs for 90 days. India and Pakistan agreed on a ceasefire. The USD/JPY outlook shows a loss of appeal for safe-haven currencies like the yen amid easing trade and geopolitical tensions. China and the US have agreed on a 90-day pause on tariffs. Meanwhile, India and Pakistan have agreed on a ceasefire, while Russia is finally ready to meet Ukraine. –Are you interested to learn more about MT5 brokers? Check our detailed guide- Over the weekend, top officials from China…

The USD/CAD forecast indicates a rapid de-escalation in global trade tensions. China has agreed to cut the US trade deficit. Data on Friday painted a mixed picture of Canada’s labor market. The USD/CAD forecast indicates a rapid de-escalation in trade tensions between China and the US that is supporting the dollar. Meanwhile, market participants are looking forward to US inflation figures for more clues on future Fed policy moves. –Are you interested to learn more about MT5 brokers? Check our detailed guide- The US and China finally met over the weekend after weeks of a stalemate. The two nations have…

USD/CAD climbs amid renewed trade optimism following encouraging progress in US-China trade talks.A joint statement confirmed the US will suspend 24 percentage points of tariffs on Chinese goods for an initial 90-day period.The CAD remains subdued as Canada’s unemployment rate rose more than expected in April.USD/CAD continues its upward momentum for the fourth consecutive session, trading around 1.3980 during European hours on Monday. The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, is also on the rise, hovering near 101.60 at the time of writing.The US Dollar (USD) strengthened following a…