USD/JPY advances steadily towards 150.00.
USD/JPY extended its gains early in the North American session after hitting a daily low of 148.86. However, positive data and high US Treasury bond yields keep the pair from falling below the 149.00 figure despite Japanese authorities’ threats of intervention. The USD/JPY is trading at around 149.40s, gaining 0.27%. The financial markets narrative continues […]
AUD/USD rebounds from below 0.6400
The AUD/USD pair attempts recovery after discovering buying interest near the round-level support of 0.6400 in the European session. The Aussie asset finds support as the US Dollar Index (DXY) struggles to extend a rally above a fresh 10-month high near 106.20. S&P500 futures generated significant losses in the London session, portraying strength in the […]
The British Pound (GBP) remains under pressure
The British Pound (GBP) remains under pressure following a surprising decision by the Bank of England (BoE) to keep rates unchanged, which caught off guard traders, expecting further tightening. US Treasury bond yields edged to multi-year highs, underpinning the Greenback (USD), as seen by the GBP/USD trading at 1.2215, registering losses of 0.16%. Last week’s […]
USD/CAD discovers buying interest near 1.3430
The USD/CAD pair finds interim support near 1.3430 after Statistics Canada reported mixed Retail Sales report for July. Consumer spending expanded at a slower pace of 0.3% vs. expectations of 0.4%. In June, Retail Sales expanded nominally by 0.1%. Retail Sales excluding automobiles expanded strongly by a full one percent, doubling expectations of 0.5%. The […]
USD/TRY trades above 27.00
USD/TRY holds ground above the 27.00 psychological level aligned to the immediate support level of 38.2% Fibonacci retracement at 26.82 during the European session on Thursday. A firm break below the latter could exert pressure on the USD/TRY pair to navigate the region around the 50-day Exponential Moving Average (EMA) at 26.38, followed by the […]
GBP/USD trades at 1.2395, showing slight gains
The British Pound (GBP) halts last week’s fall against the buck (USD) and prints minuscule gains vs. the latter despite rising US Treasury bond yields, as the UK and US central banks are expected to reaffirm its restrictive stance. Therefore, the GBP/USD is trading at 1.2395 after hitting a daily low of 1.2369, though it […]
USD/MXN trades at 17.1182, rebounding from a daily low of 17.0296
The Mexican Peso (MXN) loses ground versus the Greenback (USD) on Monday, ahead of a busy week in the central bank space, as three of the most important are set to deliver their decisions. At the time of writing, the USD/MXN is trading at 17.1182 after printing a daily low of 17.0296. Investors’ mood depreciated […]
Gold price runs north swiftly
Gold price (XAU/USD) attempts to come out of the woods as investors digest the fact that the Federal Reserve (Fed) will raise interest rates by 25 basis points (bps) to the 5.25%5-5.50% range. The precious metal picks strength as market participants hope July’s rate hike will be the last one this year, prompting the Fed to pause the rate-hiking spell for a longer period. Easing fears of a global recession, the United States upbeat Consumer Confidence, and expectations of the Fed announcing an interest rate peak have built pressure on the US Dollar Index (DXY). The index retreats as investors are anticipating that Fed Chair Jerome Powell won’t be much formidable about sticky inflation. After the Fed’s policy decision on Wednesday, US GDP numbers for the second quarter are in the pipeline on Thursday, keeping investors on edge.
NZD/USD jumped more than 1% above 0.6200 and threatens the 200-day SMA at 0.6222
On Monday, the NZD/USD gained significant ground after three consecutive days of losses jumping above the 0.6200 threshold. However, bulls need the acceptance of the 200-day Simple Moving Average at 0.6222 to continue advancing. The United States released low-tier economic data. The US Chicago PMI for July came in slightly below expectations at 42.8 vs 43, and the Dallas Manufacturing index declined in the same month but at a somewhat lower rate than anticipated, at -20 vs -26.3.
USD/CAD turns sideways after rallying around 1.3250
The USD/CAD pair oscillates in a narrow range after a rally around 1.3250 in the European session. Strength in the US Dollar is backed by Greenback’s fresh three-week high formed around 102.14. The Loonie asset is expected to deliver further action after guidance from United States Manufacturing PMI data. S&P500 futures extend losses in London, portraying caution among market participants ahead of key economic data. The US Dollar Index continues its three-day winning spree on Tuesday as investors expect that the Federal Reserve (Fed) could continue hiking interest rates so that price stability could be achieved quickly.
