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USD Daily Review August 1, 2018

USD Daily Review for August 1, 2018

USD/JPY Rate Eyes July-High as BoJ Ramps Up Dovish Forward-Guidance

USD/JPY appears to be on track to test the July-high (113.18) as the Bank of Japan (BoJ) remains in no rush to conclude its easing-cycle.


US Dollar Price Action Setups Ahead of FOMC, NFP

The rest of this week brings a series of high-impact events, and the US Dollar is very much in focus ahead of tomorrow’s FOMC rate


USDJPY Bounces From Support, Further Gains Possible

Our trading forecasts for Q3 have been published; you can find the JPY guide here. And check out the IG Client Sentiment data to help you trade profi


USD/CAD Remains Under Pressure Ahead of FOMC Amid Lackluster U.S. Data

The USD/CAD exchange rate remains under pressure as fresh data prints coming out of the U.S. economy dampen the outlook for inflation.


BoJ QE Infinity, Fed QT Providing USD Bid, US-China Trade Talks to Restart- US Market Open

BoJ QE Infinity, Fed QT Providing USD Bid, US-China Trade Talks to Restart- US Market Open


US Dollar Bounce From Support, Yen Drops, EUR/USD Tests Resistance

Yen weakness is on the return after last night’s BoJ meeting, and another strong inflation print out of Europe has helped to produce another resistance


EUR/USD Gains Weigh on DXY Index; Sideways Price Action Eyed

A quieter economic calendar during Tuesday’s North American trading session should keep markets calm ahead of tomorrow’s FOMC meeting.


GBP/USD finds support above 1.3080, back to 1.3130

The GBP/USD pair followed US dollar moves on Tuesday. Earlier today peaked at 1.3172, the highest level since last Thursday and then bottomed…


USD/CAD retreats toward 1.30 as WTI stages modest recovery ahead of API

After dropping below the 1.30 mark in the early trading hours of the NA session, the USD/CAD pair recovered to 1.3050 but failed to extend higher as t


GBP/USD reverses BoE rate hike expectations bid – Scotiabank

While GBP/USD has turned offered on the back of strong US data, (US Dollar jumps to fresh highs near 94.50), analysts at Scotiabank explained that the


NZD/USD holds above 0.68 as investors get ready for NZ employment data

The NZD/USD pair tested the 0.68 handle in the early NA session before retracing the majority of its daily losses. As of writing, the pair was trading


EUR/USD: bearish continuation triangle in play, dollar catches a bid on strong US data

The US dollar has picked up a bid as we progress through the North American session. Subsequently, EUR/USD has turned offered away from the European h


USD/JPY: bulls are in charge, but outlook still neutral below 112.80

The BoJ disappointed overnight and the pair took off on JGBs rallying after BOJ pledged to keep rates ‘very low’ in their forward guidance. The volati


US Dollar jumps to fresh highs near 94.50

The greenback, in terms of the US Dollar Index (DXY), has reverted the negative start and is now trading in session tops in the mid-94.00s. US Dollar


US Dollar Price Action Setups Ahead of FOMC

The article accompanying this webinar, including static charts, can be found at the following link:…


EUR/USD and GBP/USD Forecast August 1, 2018

The EUR/USD pair initially tried to break out during the trading session on Tuesday, reaching towards the 1.1750 level. We have turned around of form a massi…


USD/JPY and AUD/USD Forecast August 1, 2018

The US dollar has exploded to the upside against the Japanese yen, as the Japanese yen was one of the weakest currencies that I follow. After the Bank of Jap…


When is the New Zealand Unemployment Rate, and how could it affect the NZD/USD?

New Zealand Unemployment Rate overview The late Monday session will be seeing New Zealand’s latest jobs report at 22:45 GMT, but a still-soft broader


NZD/USD holding firm on 0.68 handle ahead of key labour market data

NZD/USD has been in consolidation for the most part overnight but did succumb to the dollar’s positive trade war headlines borne spike which took 0.68


FANG and Indices Look for Recovery from Apple Beat, Dollar Traders Await Fed

Apple earnings impress, will this leading company’s performance bolster FAANG or even broader risk trends?


New Zealand Dollar Dips on Soft Unemployment Data, Fed in Focus

The New Zealand Dollar plunged along with 2-year bond yields as unemployment data undershot forecasts, signaling the RBNZ may postpone interest rate hikes further.


EUR/USD defends 20-month MA for the third consecutive month

The EUR/USD could be in for a stronger rally to 1.20, having defended the 20-month moving average for the third straight month in July. The monthly c


GBP/USD back into 1.31 ahead of the US Fed’s rate call as BoE Thursday looms

The GBP/USD pair is back on the soft side for this week, trading back into the 1.3100 major level after peaking near 1.3175. The Sterling was unable t


USD/JPY risk reversals show a sharp drop in JPY call demand after BOJ

The one-month 25 delta risk reversals (JPY1MRR) have jumped to -1.00, their highest level since July 18 indicating a falling demand or the implied vol


NZD/USD Review: Trendline hurdle breached, but rally remains elusive, NZ jobless rate ticked higher in Q2

The NZD/USD pair finds no takers despite having cleared a key falling trendline hurdle on Monday. As of writing, the spot is trading at 0.68, having


USD/JPY Technical Analysis: Teasing a bull flag breakout

15-minute chart Spot Rate: 111.85 Daily High: 111.90 Daily Low: 111.70 Trend: Bullish Resistance R1: 111.86 (flag resistance) R2: 112.20 (Jul


USD/CNY Technical Analysis: Drops below 6.80, bearish RSI divergence calls for a deeper pullback

Daily chart Spot Rate: 6.7935 Daily High: 6.8222 Daily Low: 6.7885 Trend: Bearish Resistance R1: 6.8222 (daily high) R2: 6.8389 (July 30 high


AUD/USD ignores China PMI release, trade war fears could hurt

China’s Caixin manufacturing PMI, which focuses more on the small and medium sized export oriented units, fell to a eight-month low of 50.8 in July as


USD/CNH rises as US considers more tariffs

The CNH is being offered at the time of writing on fears that the US may decide to further escalate its trade war with China. At press time, the USD/


US Dollar May Renew Uptrend on Hawkish Fed Policy Statement

The US Dollar may accelerate higher after over a month of sideways drift as Fed officials assert monetary policy independence with firmly hawkish rhetoric.


GBP/USD Review: Sterling pushing south of 1.31 ahead of US Fed, BoE volatility

The GBP/USD is testing just beneath the 1.3100 major level ahead of Wednesday’s London market session. Mid-tier Markit PMIs for the UK will be droppi


EUR/USD drops to lows in the 1.1680/75 band ahead of PMIs

Renewed escalation in the US-China trade spat is giving fresh legs to the buck and is forcing EUR/USD to recede further to the area of daily lows in t


EURUSD Analysis: Euro Struggling to Break Higher, FOMC Looms

EURUSD remains under downward pressure from a strong US dollar as interest rate differentials continue to bite. And it may get worse if Fed Chair


GBPUSD Analysis: Manufacturing PMI Falls to 3-Month Low, Eyes on BoE

GBPUSD Analysis: Manufacturing PMI Falls to 3-Month Low, Eyes on BoE


USDCAD: Recent Sell-Off Gives Bulls a New Opportunity

USDCAD is set to push higher with technicals and US interest rates offering renewed upside for the greenback.


EUR/USD: Stuck in a rut? – Rabobank

Jane Foley, Senior FX Strategist at Rabobank, notes that during the month of July, EUR/USD remained within a fairly tight 1.1575 to 1.1791 range, cent


Dollar stays solid ahead of FOMC

Stocks rose on Tuesday after a report said the U.S. and China are seeking talks to defuse an escalating trade conflict between the two countries. Equities also posted their biggest monthly gains since the start of the year.


Trading Outlook for USD Index, USD/CAD, GBP/USD, Gold Price & More

Today, we looked at the growing congestion in the USD index and a couple of pairs which haven’t been as confined; also checked in on gold as it continues to …


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