Author: FX

The USD/JPY trades near 144.50 on Friday, amid thin liquidity, as US markets remain closed for Independence Day.Weekly candle shaping up as a long-legged doji, signaling strong indecision and potential breakout.The 50-day EMA at 144.90 acts as immediate resistance, while Initial support rests at Thursday’s low near 143.50.The US Dollar (USD) is trading slightly lower against the Japanese Yen (JPY) on Friday, with the USD/JPY hovering around 144.50 in subdued holiday-thinned conditions as US markets remain closed for Independence Day. Despite the intraday dip, USD/JPY remains comfortably above the lower boundary of a symmetrical triangle on the daily chart, marked…

NZD/USD consolidates within a symmetrical triangle on the 4-hour chart, reflecting short-term indecision.A rising wedge pattern on the daily chart signals a potential bearish breakout below 0.6038.Kiwi tests critical psychological support at 0.6050.The New Zealand Dollar (NZD) is weakening against the US Dollar (USD) on Friday as market participants weigh near-term resistance against a weakening bullish structure.At the time of writing, NZD/USD is trading around 0.6050, pulling back from the 0.6120 resistance level after failing to maintain recent highs.The NZD/USD 4-hour chart displays a symmetrical triangle pattern formed by a series of lower highs and higher lows, with price action…

Gold is on track for a weekly gain above 1.5% as tariff threats shift the mood sour.Trump confirms tariffs of up to 70% may take effect on August 1 amid trade flare-up.Treasury’s Bessent expects 100 countries to face reciprocal tariffs, while trade deals are incoming.Gold price resumes its uptrend on Friday, poised to print gains of over 1.50% for the week as the US Dollar is on the back foot amid thin liquidity conditions following the closure of US markets in celebration of Independence Day. A slight escalation of the trade war boosted bullion prices. The XAU/USD trades at $3,333,…

GBP/JPY edges lower as safe-haven demand rises ahead of President Trump’s July 9 tariff deadline.UK Prime Minister Keir Starmer faces political pressure from the Labour Party, limiting upside potential for Sterling.GBP/JPY retreats as technical resistance firms around 198.00The Japanese Yen (JPY) is strengthening against the British Pound (GBP) on Friday as markets turn cautious ahead of the weekend.With GBP/JPY retreating after failing to gain traction above the psychologically significant 198.00 level on Thursday, Friday’s price action has been driven by an increase in the demand for safe havens ahead of US President Donald Trump’s tariff deadline on July 9.At the…

WTI Crude Oil remains under pressure near mid-$65s amid thin holiday trading and a lack of fresh catalysts.Traders remain cautious ahead of the July 5 OPEC+ meeting and the July 9 deadline for potential US tariff action.OPEC+ is expected to approve a third consecutive supply increase for August, though actual output remains below target.West Texas Intermediate (WTI) Crude Oil prices remain subdued on Friday, extending losses from the previous day and hovering near the mid-$65s amid thin holiday trading, lingering demand concerns, and a lack of fresh catalysts. The US benchmark is trading within Wednesday’s range, reflecting a wait-and-see approach…

GBP/USD holds steady amid holiday thin trading, UK debt concerns in focus The British Pound (GBP) is treading water against the US Dollar (USD) on Friday, as the Sterling comes under renewed pressure amid lingering fiscal concerns. A combination of cautious risk sentiment, stronger-than-expected US Nonfarm Payrolls (NFP) data, and political uncertainty in the UK is keeping the Pound on the defensive, with the GBP/USD pair struggling to extend its recent gains. Read More…   Pound Sterling weakens as Chancellor Reeves’ welfare bill unleashes fiscal risks The Pound Sterling (GBP) faces selling pressure against its peers on Friday despite United Kingdom (UK) Chancellor of…

Bank of England (BoE) rate-setter Alan Taylor noted late on Friday that downside pressures are continuing to build up underneath the UK’s economy, signaling that early rate cuts may be needed ahead of a questionable forecasting period.Key highlightsWould expect bank rate to normalise close to 2.75%, absent shocks.Would expect bank rate, should MPR inflation projections be close to what we actually see, at around 3% by end of 2026.Better to cut rate now and hold for longer later rather than hold too long and cut in a hurry.Disinflationary forces are building this year.Insurance against deteriorating demand is advisable.A soft landing…

Gold benefits from a weaker Greenback amid thin liquidity on US Independence Day.Tariff uncertainty and Trump’s ‘Big Beautiful Bill’ lift demand for safe-haven bullion.XAU/USD whipsaws between key moving averages as the price hovers above $3,330.Gold (XAU/USD) is trading higher on Friday as news about United States (US) President Donald Trump’s passage of the “Big, Beautiful, Bill” filters through markets. With markets closed in the US in celebration of Independence Day, XAU/USD is trading above $3,330 at the time of writing.Liquidity is expected to remain light in the US following the holiday weekend, which could make bullion sensitive to developments that…

US stock market sentiment might feel frothy because it’s been a one-way TACO trade since Trump backed down on Liberation Day tariffs but most sentiment surveys weren’t overly frothy.That could be changing. The AAII survey — which is a solid one — rose in the latest week to 45% bullish from 35.1%. That’s a big jump and reflects a market that’s hitting all-time highs almost daily. Still, it’s not quite into territory that I would consider frothy, which is above 50%. Last year it peaked in mid-July at 52.7% bullish. You will note that the S&P 500 then fell 9%…

Get some good rest with this long weekend because next week we have some important events that could potentially trigger big moves in the markets. The focus will be on Trump’s letters with the new tariff rates and the US CPI. I think the CPI will be more important given that Trump put August 1st as the deadline for the new tariffs, and it therefore looks like another “TACO game”. Nonetheless, it might still keep things volatile, so headline risk will be high next week. That’s it for the week.Happy Fourth of July! Later this year, ForexLive.com is evolving into…