Page 101 - Urrencies News Today

The AUD/USD pair remains under some selling pressure for the second straight day on Tuesday and reacts little to the better-than-expected release of Chinese data.

In Tuesday's session, the USD/NOK edged higher, trading around 10.935 seeing 0.80% gains following the reports of robust Institute for Supply Management (ISM) reading and softer-than-anticipated JOLTs Openings figures.

The EUR/GBP is flatlining on the trading week, cycling near 0.8570 with Eurozone Retail Sales due early Wednesday.

The USD/CAD pair builds on the previous day's recovery move from the 1.3480 region, or its lowest level since September 29 and gains positive traction for the second successive day on Tuesday.

The pound loses ground on USD strength and a risk-off sentiment Speculation about BoE cuts likely to add pressure on the GBP A double-top at 1.2730 might trigger a trend change The Pound is trading lower on Tuesday, weighed by negative market sentiment and a somewhat stronger USD with bears looking at the 1.2600 support area.

The GBP/USD pair edges higher during the Asian session on Tuesday and looks to build on the overnight bounce from the 1.2600 mark, representing the lower boundary of a one-week-old trading range.

The US Dollar (USD), gauged by the US Dollar Index (DXY), is edging higher, currently trading near 104.00 while posing a threat to the 20-day SMA at 104.05.

The USD Index (DXY), which tracks the greenback vs. a bundle of its main competitors, maintains the optimism seen at the beginning of the week and advances to 103.80 on turnaround Tuesday.

The Dollar extends gains favoured by risk aversion. Lower oil prices are weighing on the Canadian Dollar.

In the opinion of UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, USD/JPY could lose further ground and revisit the 146.00 zone in the next few weeks.