Author: FX
The Fed skipped forward guidance, Japan appeared to buy yen in size, and chip stocks crashed then roared back. A full recap of the July 27-31 week. Source link
The Kiwi Dollar extends its three-day rally, climbing above 0.5850 and is poised to challenge 0.5900 amid improving risk appetite and broad US Dollar weakness. The clearance of the 200-day Simple Moving Average (SMA) supports the bullish trend, as traders eye the May monthly high at 0.5995.NZD/USD Price Forecast: Technical outlookThe daily chart shows that market structure is becoming more constructive, indicating further upside in the NZD/USD pair. After surpassing the confluence of the 100- and 200-day Simple Moving Averages (SMAs) at around 0.5821/23, the pair is poised to hurdle the 0.5900 figure.Momentum has clearly shifted bullish. The Relative Strength…
The first full week of August will test whether the US Dollar can recover from its sell-off during the last week of July as investors shift their attention from central bank decisions to a fresh round of economic data. The spotlight will be on July’s Nonfarm Payrolls (NFP) report, while ISM surveys, ADP Employment figures and JOLTS Job Openings will offer additional clues on the strength of the US economy. In Europe, investors will assess whether inflationary pressure is beginning to ease through Producer Price Index (PPI), Retail Sales and Factory Orders data. Meanwhile, China will release key PMI and…
Broader US stock indices close higher but near key technical levels heading into the weekend !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
The USD/CHF bounces off weekly lows and meanders around 0.8080 after hitting a daily high of 0.8127, amid presumed intervention, with Nikkei reporting that the US Treasury Department has told currency market participants to prepare for additional intervention, following Thursday’s action by Japanese authorities to boost the Yen.USD/CHF Price Forecast: Technical outlookThe USD/CHF rebounded, reaffirming its upward bias. The market structure suggests the uptrend will continue as long as spot prices remain above the 50-day SMA and the July 10 cycle low of 0.8010.The Relative Strength Index (RSI) is turning bearish, aiming upwards, an indication that a recovery may be…
Gold price tumbles nearly 1.50% on Friday as the US Dollar recovers some ground after Japanese authorities intervened in the foreign exchange markets a day ago, driving the Greenback to a 30-day low before recovering, according to the US Dollar Index (DXY). The XAU/USD trades at $4,045.XAU/USD drops as Treasury yields, Fed dissents and inflation risks pressure BullionThe yellow metal is poised to finish the week with losses of over 0.11%, unable to decisively crack the $4,100 milestone. At the same time, the DXY, which tracks the performance of the buck’s value against six currencies, is down 0.05%, at 99.91,…
The GBPUSD surged higher yesterday, extending its rally toward a key swing level at 1.34797. However, during the Asia-Pacific and early European sessions, the pair corrected lower, retracing back to its converged 100-day and 200-day moving averages near 1.3398. The day’s low reached 1.3400, just a couple of pips above that critical support zone.That test proved to be a turning point. Buyers stepped back in aggressively, driving the pair back above yesterday’s highs and through the 1.34797 swing level. The break has pushed the GBPUSD to its highest level since July 16, giving buyers more control from a technical perspective.With…
Thursday’s record Yen defence is the story everyone has written. Friday is the one that matters, because the Dollar has been sold in three separate lurches since the Tokyo morning, nobody has claimed any of them, and the US Treasury has told a number of banks through the New York Fed that it may enter the market and they should stand ready for further action. USD/JPY trades just under 159.00 late in the session, a Yen and a half beneath where the day began.The second round is the cheap oneThe pattern reads like an operation rather than a market. The…
The US Dollar Index (DXY) struggles to hold its early recovery on Friday as the fallout from suspected Japanese intervention and the possibility of direct action by the United States (US) keep the Greenback under pressure. At the time of writing, the index trades around 99.96, easing from an intraday high of 100.45 and hovering near its lowest level in six weeks. The DXY is also on track to close July in negative territory.The Greenback suffered a sharp sell-off on Thursday as the Japanese Yen (JPY) surged across the board. Reuters reported, citing a market source, that Japanese authorities likely…
This week’s earnings season was dominated by the technology heavyweights. Microsoft delivered standout results that reignited enthusiasm around AI spending, while Amazon also impressed with strong cloud and advertising growth. Apple topped earnings estimates but offered a cautious outlook that weighed on the shares, and Meta came under pressure as investors remained concerned about the scale of its AI investment plans. Collectively, the reports helped set the tone for the broader market and will likely influence trading into next week. With most of the “Magnificent 7” now behind us, next week’s calendar broadens considerably. Investors will shift their attention to…