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USD Daily Review August 9, 2018

USD Daily Review for August 9, 2018

GBP/USD: Cable Crushed Through 1.3000, More Pain in Store?

The British Pound has been in a hard-sell posture since last week’s BoE rate hike, and with a dovish Bank of England now coupled with


NZD/USD Rebound Vulnerable to Dovish RBNZ Forward Guidance

The Reserve Bank of New Zealand (RBNZ) meeting may drag on the New Zealand dollar should the central bank endorse a dovish forward-guidance for monetary


USD/CNH Appreciation Not a Problem for China, Reserves Figures Show

FX reserves figures from July show that the PBOC is clearly allowing the Chinese Yuan depreciation to go unchallenged.


Weekly Technical Perspective on the New Zealand Dollar (NZD/USD)

Kiwi is trading within a well-defined range just above critical support with the RBNZ on tap. Here are the key price levels that matter on


USD/CAD Rate Forecast: Saudi Threat Brings Prospect of CAD Washout

The Canadian Dollar weakened mysteriously on Tuesday before the announcement that a dispute at the highest levels between Canada and Saudi Arabia has led to


Downside GBP/USD Targets Remain on Radar Ahead of Adjusted U.K. GDP

Recent developments in GBP/USD keeps the downside targets on the radar as the bearish momentum appears to be picking up.


EUR/USD Tests Confluent Resistance as the Cable Crush Continues

The US Dollar put in another bounce from the 95.00 level in the overnight session, and this helped to push EUR/USD lower after a test


USD/JPY: bears chased in below 111 the handle, bulls by the dip, eye 113 handle on Fed divergence

USD/JPY has been stabilising in NY trade at the 50-D SMA having made a high of 111.44 and a low of 110.83, although significantly, the pair broke belo


USD/CHF drops to new daily lows near 0.9930 as DXY retreats toward 95

After rising to a daily high at 0.9970 in the early NA session, the USD/CHF pair retraced its gains and turned flat on the day near mid-0.99s. Althoug


USD/CAD retreats further and tumbles to 1.3000

A decline of the US Dollar across the board pushed USD/CAD further to the downside. The pair dropped from 1.3065 to 1.3005, hitting a fresh low. Price


NZD/USD: RBNZ coming up, Kiwi supported on dollar weakness

NZD/USD made a high of 0.6763 in NY from a low of 0.6722 on Wednesday’s trade so far as the antipodeans consolidate in familiar territories. The Aussi


AUD/USD: eyes on 10-yr T-bill auction for dollar volatility

AUD/USD has moved up to the 21-hr SMA at 0.7418 and pierced it making a high if 0.7434 for the day so far while the Yuan has stabilised making for a p


USD/JPY steadies near 111 ahead of 10-year note auction

After coming under a heavy selling pressure during the late Asian session and falling to a fresh weekly low at 110.84, the USD/JPY pair retraced a sma


EUR/USD rises back to 1.1600 as US dollar retreats

The EUR/USD pair bottomed earlier at 1.1571 but after the beginning of the US session turned to the upside, boosted by a retreat of the US dollar. Rec


2 of the largest crypto exchanges have snagged veteran Wall Streeters as they build out businesses to lure in billion dollar investors

BI PRIME: Two of the largest players in the crypto space have snagged employees from top Wall Street banks for similar roles, according to people familiar with the matter.


Canadian dollar gets whacked after Saudi Arabia reportedly starts dumping the country’s assets ‘no matter the cost’ | Markets Insider

The Canadian dollar slid Wednesday after the Financial Times reported that Saudi Arabia had begun selling off its holdings of the country’s bonds, stocks,…


Gold ekes out back-to-back wins as Treasury yields and the dollar edge back

Gold prices settled slightly higher Wednesday, notching its second straight finish in positive territory as the U.S. dollar and U.S. government bond y


EUR/USD and GBP/USD Forecast August 9, 2018

The EUR/USD pair has pulled back initially during trading on Wednesday, only to turn around and form a hammer. The hammer shows that we continue to see bulli…


New Zealand Dollar Falters as RBNZ Leaves Rate Unchanged at 1.75%

The information needed to spur a broad decline in the New Zealand Dollar may have been delivered after the central bank said rates would remain


AUD/USD fighting to maintain ground above 0.74

The AUD/USD is trading near Wednesday’s highs, testing near 0.7440 after a mild dump into 0.7400 at the tail-end of Wednesday’s trading. The Aussie i


NZD/USD has dropped to test the bulls commitments at 0.67 the figure on the RBNZ

NZD/USD made a high of 0.6763 in NY from a low of 0.6722 on Wednesday’s trade while consolidating at 0.6750 going into the RBNZ decision. The Kiwi has


When is the RBNZ and how might it affect NZD/USD?

RBNZ overview The RBNZ is expected to leave the Official Cash Rate (OCR) at 1.75% at its policy meeting today on the hour while markets look for pote


USD/JPY Weakness Looks Overdone Given Fundamentals

The Japanese Yen has picked up some technical momentum against the US Dollar, which has strengthened it elsewhere. However the fundamentals will reassert themselves eventually


RBNZ Hurt NZD. USD, Oil Fell. FX Eye Sentiment – Asia Market Open

A dovish RBNZ hurt the New Zealand Dollar after sentiment deteriorated as the US Dollar, crude oil and S&P 500 fell. FX looks to how


GBP/USD continuing to sag as Friday’s UK GDP reading looms ahead

The GBP/USD pair is trading into 1.2875 after seeing decline on Wednesday, falling from a high of 1.2960 as bearish sentiment continues to factor heav


USD/JPY Technical Analysis: Corrective rally likely after upside break of the falling wedge pattern

Hourly chart Spot Rate: 110.81 Daily High: 111.00 Daily Low: 110.71 Trend: Bullish above 110.87 (wedge resistance) Resistance R1: 110.87 (top


EUR/USD consolidates above 1.16, awaits fresh leads

The EUR/USD is holding above 1.16, despite having faced rejection at the pennant hurdle (lower end now acting as resistance) on Wednesday. At press t


AUD/USD: risk reversals retrace bearis bias, hit one-month high

The AUD one-month 25 delta risk reversals rose to -0.75 today – the highest level since July 9, having hit a low of -1.00 on July 20. The rise from –


NZD/USD Review: Kiwi hit 29-month low on RBNZ’s dovish forward guidance

The NZD bears are ruling the roost after the RBNZ’s unexpected dovish forward guidance. The currency pair fell to a 29 – month low of 0.6664 earlier


US dollar rally to run out steam within the next six months – Reuters poll

The broad-based USD rally will run out of steam within the next months, according to a Reuters poll of foreign exchange strategists. The latest poll


Chinese Stocks Soar, AUD Up. USD/PHP Rise at Risk on BSP Rate Hike

A rally in the Shanghai Composite led the sentiment-linked Australian Dollar up. Meanwhile, the recent rise in USD/PHP may be at risk on a hawkish


GBP/USD rebound stalling just beneath 1.29

The GBP/USD is seeing some hesitation near the 1.2880 level as the European market session gets underway, and traders are unsure of which direction to


EUR/USD holding on to 1.1600, US PPI on sight

The European currency is struggling for direction on Thursday, taking EUR/USD to the 1.1600 neighbourhood ahead of the opening bell in Euroland. EUR/


AUD/USD Review: China’s CPI beat gives the Aussie room to breath

The AUD/USD is trading into 0.7435 heading through Thursday’s trading after being propped up by better-than-expected inflation figures from China, and


GBPUSD Analysis: Dip Buyers Seen at Multi-Month Sterling Lows

Sterling driven higher in the short-term with buyers seen near one-year lows. GBP move started by newspaper report that the EU is considering shifting its


GBPUSD Testing August 2017 Lows on No-Deal Brexit Fears

GBPUSD continues to drop on fears of a no-deal Brexit and, having already hit its weakest level so far this year, could now fall as


WTI looks vulnerable below $ 66.50, as USD buyers return amid trade tensions

WTI (oil futures on NYMEX) experienced some volatile moves in the European session, although managed to hold above the $ 66.50 support area. However,


EUR/USD re-attempting 1.1600 amid resurgent US dollar demand

Having consolidated above the 1.16 handle in the Asian trades, the EUR/USD pair failed to resist above the last and fell sharply in the European sessi


US Dollar stays bid around 95.30 ahead of US PPI

The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main rivals, is trading on a positive note around the 95.25/30 bannd. US Do


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