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Mexican mid-month inflation data for April, out on Wednesday at 12:00 GMT, could adjust expectations for the Banxico’s policy approach going forward, given its insistence on data-dependency, as revealed in the last meeting’s minutes. Mexican 1st half-month inflation in March is expected to ste

The Mexican Peso gained its key pairs – USD/MXN, EUR/MXN and GBP/MXN – after the release of PMI data showed cracks in most developed economies. The Manufacturing PMI gauges were particularly low, and in the US it fell unexpectedly into contraction territory below 50.0, clocking in at 49.9, whic

The Mexican Peso is trading higher in most key pairs after the release of weak manufacturing data hits its counterparts. Manufacturing PMI data out on Tuesday was lower than expected across the board. USD/MXN’s short-term trend has probably reversed from bullish to bearish. The

The US Dollar Index’s (DXY) recent rally broadly comes from the staggering US economy, which has been relentlessly printing positive economic numbers. Tuesday’s PMI numbers came in below estimates for the first time since last year, but investors seem to be taking this miss as a one-off rather than

The US Dollar partly retraces its steps after its decline on Tuesday. Markets are starting to brush off the miss on US PMI data. The US Dollar Index heads back to 106.00 ahead of US Durable Goods data. The US Dollar (USD) is trying to recover on Wednesday after trading firmly in

USD/CAD rebounds from a two-week low and draws support from a combination of factors.Weaker Oil prices undermine the Loonie and act as a tailwind amid renewed USD buying.Traders look forward to important US macro releases before placing fresh directional bets. The USD/CAD pair attracts som

EUR/JPY eyes more upside amid uncertainty over BoJ’s neat rate hike.Japan Ochi expects that an intervention is possible if the Yen slides further to 160 or 170 vs. the US Dollar.The speculation for ECB pivoting to interest rate cuts in June remains firm. The EUR/JPY pair aims to extend its upside to

NZD/USD extends gains despite the prevailing bearish sentiment for the pair.A break below 0.5900 could lead the pair to test the rebound support level of 0.5863.A break into the triangle around the level of 0.5963 has the potential to weaken the bearish sentiment. NZD/USD advances for the third cons

EUR/USD breaks out of the box-like range it had been trading in for the last seven days and pierces above the key 1.0700 level to bring into doubt the durability of the short-term downtrend. It is now less certain EUR/USD is forming a Bear Flag price pattern as had previously been assumed. The

EUR/USD broke above the top of its seven-day range early on Wednesday after the Greenback lost favor with traders. The Euro (EUR), meanwhile, maintained its value on the back of growth in the Services sector revealed in Tuesday’s better-than-expected HCOB Eurozone Services PMI data for Apr

EUR/USD climbs above the key 1.0700 psychological level early on Wednesday. Weaker-than-expected US PMI data on Tuesday undermined the US Dollar and fueled the recovery. EUR/USD’s Bear Flag pattern deforms, bringing into doubt its validity. EUR/USD trades just shy of 1.0700 on Wednes

The Pound Sterling recovers sharply from a five-month low of 1.2300 against the US Dollar. The GBP/USD pair moved higher to 1.2450 on Tuesday and remains at around this level at the time of writing. The upside is limited near the supply zone, placed in a tight range of 1.2500-1.2520. The near-term o

The Pound Sterling aims to extend upside above the immediate resistance of 1.2450 against the US Dollar due to multiple tailwinds. The uncertainty about when the Bank of England could start reducing interest rates and strong preliminary PMI data for April reported by S&P Global/CIPS on Tuesday h

The Pound Sterling holds recovery to near 1.2450 on an upbeat preliminary S&P Global/CIPS PMI report for April.BoE Haskel wants to see more slack in labor demand to gain confidence that inflation will sustainably return to the 2% target.Weak US PMI for April weighed on the US Dollar. The Pound S

German IFO Business Climate Index surpasses estimates with 89.4 in April.IFO Current Economic Assessment improved to 88.9 in the reported month. The headline German IFO Business Climate Index came in at 89.4 in April, way higher than the March reading of 87.9. The market forecast was for a 88.9 prin