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USD Daily Review July 4, 2018

USD Daily Review for July 4, 2018

Trade Wars, Dollar Dominance, And What It Means For Global Investing

With the 44th G7 summit under wraps, an unfolding trade war has escalated tension between the US and its rivals. Though the Trump administration argues that the trade wars are necessary in forcing multinational corporations to bring work back home, economics suggests trade wars are costly and risky.

 

USD/CAD Rate Forecast: CAD Strength on USD Weakness May Be Temporary

The Canadian Dollar has strengthened in recent sessions to trade down toward C$1.31 per USD, but broader forces like rate differentials could keep the pair

 

US Dollar Price Action Setups: EUR/USD Reversal Prospects in Q3

The US Dollar is coming into Q3 with a full head of steam, and sellers remain active in the Euro as EUR/USD nestles up to

 

Weekly Technical Perspective on the Canadian Dollar (USD/CAD)

Price posted a daily outside-reversal off technical resistance yesterday and risks further losses. Here are the key levels that matter on the USD/CAD weekly chart.

 

USDTRY Could Strengthen Further as Concerns About Turkey Persist

– After a period of relative stability, USDTRY has begun to strengthen again. – That advance could well extend further as concerns about Turkey refus

 

EUR/USD Rate Preserves Holding Pattern Ahead of U.S. Holiday

The euro-dollar exchange rate may continue to consolidate over the next 24-hours of trade as market participation is likely to thin ahead of the major

 

US Dollar Back-and-Forth Start to Q3, EUR/USD Tests Key Resistance

It’s a holiday-week to kick off Q3 in the United States, and the US Dollar is trading like it. Other interesting developments have shown in

 

AUD/USD steadies below 0.74 ahead of Australian data

The AUD/USD pair advanced all the way up to 0.74 on Tuesday and made a small correction before going into a consolidation phase as trading volume thin

 

NZD/USD: on the way to 0.6600/05 – UOB

Analysts at UOB Group explained that the bearish phase that started last Thursday (28 Jun, spot at 0.6785) is still clearly intact as NZD exceeded the

 

USD/JPY drops to mid-110s as Wall Street turns negative ahead of the closing bell

The USD/JPY pair touched its best level since late May at 111.12 earlier today but failed to preserve its bullish momentum as the greenback continued

 

USD/CNY: Downside risks to CNY in the medium term – Danske Bank

Analysts at Danske Bank, point out that USD/CNY continues to rise and that the correlation with USD index has broken down. They see little sign of FX

 




NZD/USD testing 100-hr SMA despite GDT price index poor result

On risk appetite revival, NZD/USD has pulled back into the descending channel and pierced the 21-4rh SMA at 0.6747 having made a high of 0.6757 and fr

 

US Dollar Price Action Setups: EUR/USD Reversal Prospects in Q3

The article accompanying this webinar can be found at the following link: https://www.dailyfx.com/forex/video/live_events/2018/07/03/us-dollar-price-action-s…

 

EUR/USD and GBP/USD Forecast July 4, 2018

The Euro rallied a bit during the trading session on Tuesday but gave back about half of the gains as we continue to see a lot of noise. The 1.17 level has o…

 

AUD/USD toying with the 0.74 barrier ahead of the Aussie Trade Balance

The AUD/USD is trading a touch under the 0.7400 key level after Tuesday’s trading brought the pair back from the brink. The Aussie recovered yesterday

 

NZD/USD: sturdy despite a poor GDT auction, holding above the 100-hr SMA

NZD/USD is currently trading at 0.6752 having made a high of 0.6759 and a low of 0.6687, resilient to a poor GDT auction having pierced the descending

 

Australian Dollar Gains On Local Retail Sales, China Caixin PMIs

The Australian Dollar was boosted by slightly stronger than expected retail sales data, despite a big miss for its trade surplus

 

S&P 500 Drops into the Close on Heavy Trade War Headlines, Dollar Carves Range

Trade war headlines were heavy Tuesday with Fitch, Wilbur Ross, the Chamber of Commerce and Trump himself making news

 

Bearish AUD/USD As Correlated Assets Looked Prime to Fall

The Australian Dollar often takes cues from key global assets like the SPX500 & US Treasury yields, both of which may be headed lower that

 

USD/JPY on the rebound, but the 110.50 level remains elusive

The USD/JPY is bouncing at the tail end of Wednesday’s Asian session, and the US Dollar is rebounding into 110.45 after dipping to a low of 110.27. T

 

EUR/USD stuck in a rut below 1.17 ahead of European PMIs, US holiday

The EUR/USD is on an upward drift through Wednesday’s early session, climbing into 1.1660 ahead of a European session that sees Markit Services PMI on

 

GBP/USD: Focus on UK services PMI and 30-day MA hurdle

The GBP/USD pair has likely found a bottom at 1.3049, the bullish divergence of the 14-day RSI indicates and could cross the stiff resistance of 30-da

 

USD/CNH extends slide on PBOC jawboning, rumored intervention

Currently, the offshore Yuan exchange rate or the USD/CNH pair is trading at 6.6402, having clocked a high of 6.6720 and low of 6.6280 earlier today.

 




NZD/USD is bid despite drop in GDT price index, upbeat China services PMI helps

The NZD/USD pair is reporting gains in Asia even though the Global Dairy Trade (GDT) price index dropped 5 percent and could see a stronger corrective

 

AUD/USD pops to 0.74 on upbeat Retail Sales

The AUD/USD is bumping over the 0.7400 key barrier after the Aussie Retail Sales came in better than expected, printing at 0.4% and remaining steady w

 

Asian Stocks Echo US Losses, USD/CNH on Edge of Lasting Reversal

Asian stocks echoed losses from the US trading session. The US Dollar was unable to rise as the Yuan kept appreciating. USD/CNH faces support which

 

USD/CHF: Buy the dips circa 0.9850? – Commerzbank

Karen Jones, Analysts at Commerzbank, notes that the USD/CHF pair has stalled its upside below 1.0000 while the 25th June lows of 0.9856 is likely to

 

EUR/USD catches fresh bids, looks to 1.1700 ahead Eurozone PMIs

The EUR/USD pair stalled its Asian retreat and caught and caught a fresh bid-wave in early Europe, as the bulls now look to retest the 1.17 handle ami

 

AUD/USD holding steady above 0.74

The AUD/USD is trading steadily near the 0.7400 key barrier after peaking at 0.7424 on Wednesday following the Aussie Retail Sales release. Australia

 

GBP/USD Technical Analysis: Falling wedge breakout

Hourly chart Spot Rate: 1.32 Daily High: 1.3216 Daily Low: 1.3188 Trend: Bullish Resistance R1: 1.3275 (30-day MA) R2: 1.3315 (June 22 high)

 

Forex Today: Antipodeans cheer better data, weaker US dollar, eyes on UK services PMI

An eventful Asian-affair, with a plenty of macro news reported from the Asia-pac regions while moderate risk-aversion persisting amid escalating trade

 

USD/CAD Technical Analysis: Upside break of a descending broadening wedge likely

Hourly chart Spot Rate: 1.3135 Daily High: 1.3149 Daily Low: 1.3112 Trend: Bullish break likely Resistance R1: 1.3170 (50-hour moving average)

 

USD Rise at Risk of Exhaustion, Eyes on FOMC and NFP

USD Rise at Risk of Exhaustion, Eyes on FOMC and NFP

 

AUD/USD tracks commodities lower, eyes 0.7350

The AUD/USD pair is seen accelerating its retreat from three-day highs at 0.7424, as the bears fought back control amid a broadly firmer US dollar and

 

USD/JPY remains on track to test 111.39 recent high – Commerzbank

In the view of Karen Jones, Analyst at Commerzbank, despite the latest leg down, the USD/JPY pair is set to test the recent high near 111.40 levels.

 




EUR/USD takes a sharp U-turn, drops back to 1.1640

The EUR/USD pair faced rejection once again near the 1.1680 region and from there came under heavy selling pressure at the European open, after the US

 

Have a nice trading!




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