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USD Daily Review July 11, 2019

USD Daily Review for July 11, 2019

Gold Price Volatility Climbs as XAUUSD Rallies on Dovish Fed

Spot gold prices rise alongside gold volatility as markets react to the latest dovish commentary from Fed Chair Powell – a trend that could continue headed into the July FOMC meeting.


US Dollar Sinks During Powell Testimony as Fed Rate Cut Odds Surge – Central Bank Weekly

Interest rate markets are once again heavily discounting aggressive dovish policy action by the Federal Reserve in the coming months.


USD/JPY: Downtrend Is Expected to Continue as Traders Remain Net-Long Since May 2019

Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current USD/JPY price trend may soon reverse higher despite the fact traders remain net-long.


GBP/USD: 83% of Traders are Net-Long Suggesting Further Depreciation of Sterling against the Dollar

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.


USD Spikes Lower as Dovish Fed Powell Sets Stage for Rate Cuts

USD Spikes Lower as Dovish Fed Powell Sets Stage for Rate Cuts


Canadian Dollar Expected to be Most Volatile Currency Amid BoC & Fed Risk

Canadian Dollar Expected to be Most Volatile Currency Amid BoC & Fed Risk


USD/CAD headed for a test and break of a key 38.2% Fibo level around 1.3040

USD/CAD has been whipsawed in the month of July, moving into a wide range of consolidation while investors weigh up the outlook for a potential new ea


EUR/USD holds to gains above 1.1250, as market participants ignore FOMC minutes

The EUR/USD pair remained above 1.1250 following the release of the FOMC minutes that were mostly ignored by market participants. The pair continues t


USD/JPY: Printing fresh lows on dovish FOMC minutes

USD/JPY was offered in late London and met a low of 108.39 as the Greenback drops to test the parameters of the 97 handle. Federal Reserve’s chairman,


AUD/USD technical analysis: Aussie reclaims the 0.6950 level ahead of the FOMC minutes

The Aussie is trading in a bear trend below its 100 and 200-day simple moving averages (DSMAs). The US Dollar is weaker across the board sending AUD/U


When are the FOMC minutes and how could they affect EUR/USD?

The FOMC minutes, of the 18-19 June meeting, will be released on Wednesday at 18:00 GMT. At that meeting, the Federal Reserve kept the Fed Funds rate


Question to Powell: Why is the US dollar the world’s reserve currency?

A question to Powell has come in towards the end of the Q&A session at the two-day Congressional testimony and was asked, ‘why is the US dollar the wo


USD/CAD technical analysis: Greenback sidelined near 1.3100 handle ahead of FOMC minutes

USD/CAD is trading above multi-month lows as the market is trading below its main daily simple moving averages (DSMAs). USD/CAD 4-hour chart The marke


EUR/USD technical analysis: Euro advancing near 1.1260 ahead of FOMC minutes

EUR/USD trading in a bear trend below its 200-day simple moving averages (DSMA). The market is now testing the 1.1260 level and the 100 DSMA. EUR/USD


USD/CHF drops below 0.9900 as US Dollar falls across the board

The USD/CHF pair dropped below 0.9900 and fell to 0.9885, reaching the lowest level since last Friday. It then bounced to the upside but it was unable


USD/JPY and AUD/USD Forecast July 11, 2019

For additional up-to-date Forex Trading information: News (, Technical Analysis (…


EUR/USD and GBP/USD Forecast July 11, 2019

For additional up-to-date Forex Trading information: News (, Technical Analysis (…


NZD/USD holds recent gains above 21-day EMA ahead of second-tier data

Not only the Fed Chair’s Testimony but FOMC minutes also triggered the NZD/USD pair’s recent jump ahead of the second-tier consumer-centric data.


Dovish ECB Meeting Minutes to Rattle EURUSD Rate Rebound

Fresh developments coming out of the Euro area may rattle the recent rebound in EURUSD if the ECB shows a greater willingness to implement more non-standard measures.


Dollar Drop More Reliable than S&P 500 Record High as Fed Readies Rate Cut

Jerome Powell downplayed the June employment figures and trade war hopes while FOMC minutes show growing willingness for Fed cuts


Japanese Yen Gains Put Downside USD/JPY Range Break On Cards

The Japanese Yen has risen against the Dollar as have many other currencies thanks to the latest Fed commentary. USDJPY faces important near-term support


EUR/USD: Rises above key hurdle ahead of ECB’s minutes

EUR/USD is solidly bid while heading into the European session, courtesy of the dovish testimony by the US Federal Reserve President Jerome Powell. Th


GBP/USD remains on the road to recovery, all eyes on UK politics, US data/events

Despite mixed data and political pessimism at the UK, the GBP/USD pair buyers cheer the US Dollar (USD) weakness as the quote rise to 1.2534 on early Thursday.


USD/CNY risk reversals: Put value drops despite dovish Powell

A dovish testimony by the US Federal Reserve President Powell has boosted the odds of a 25 basis point rate cut on July 31. Even so, the premium claim


USD/JPY dips below 108.00 as Treasury yields extend overnight losses

USD/JPY continues to lose altitude in Asia with the US Treasury yields extending overnight losses. The two-year yield, which tracks short-term interes


NZD/USD technical analysis: Bid after bullish outside, focus on today’s close

NZD/USD is mildly bid above 0.6650 at press time, having created a big bullish outside day candle on Wednesday. A bullish outside day occurs when the


AUD/USD technical analysis: 50-day EMA questions recent pullback, upbeat Aussie data

Despite bouncing off 0.6910 and witnessing positive Australian economics, the AUD/USD pair still trades below the 50-day EMA on early Thursday.


USD/CAD: Sellers cheer WTI strength, greenback weakness

Contrasting monetary policy signals from the BOC and the US Federal Reserve Chairman, coupled with rising Crude prices, drags the USD/CAD pair down.


USD/CNH technical analysis: Drops 0.30% making 6.90 the level to beat for bulls

USD/CNH dropped 0.30% on Wednesday, courtesy of Federal Reserve’s Chairman Jerome Powell’s dovish testimony and the resulting six basis point drop in


USDJPY and Gold Show What Fed Support Can Truly Offer Market

Risk trends may seem buoyant through a measure like the S&P 500 but USDJPY and Gold indicate here are serious caveats in sentiment


USD/JPY struggles near 108.00 handle, weekly lows

The USD/JPY pair dropped to fresh weekly lows during the Asian session on Thursday, albeit now seems to have stabilized around the 108.00 handle. The


Forex Today: Powell pulverizes the dollar, oil is on fire, Bitcoin is on the back foot

Thursday, July 11th, European session: – The US dollar has extended its losses after Fed Chair Jerome Powell opened the door to cutting rates. He said


US Dollar Index comes under pressure near 96.80, focus on CPI

The US Dollar Index (DXY), which measures the greenback vs. a basket of its main rivals, remains on the defensive on Thursday after breaking below the


USD/INR technical analysis: 68.25/26 is the level to beat for sellers amid oversold RSI

With the USD/INR traders following a down move beneath the 21-day exponential moving average (21-D EMA), the quote drops to 11-month low.


GBPUSD Outlook: From a Contrarian Perspective, a Sterling Rally is Due

Reports that the British Pound could slump to parity with the US Dollar suggest that negativity towards Sterling is now so pervasive that GBPUSD could be ripe for a recovery.


USD/CHF, EUR/CHF Price Forecast: Potential Comeback for the Sellers

the key technical levels EUR/CHF and USD/CHF sellers need to consider to take charge again.


When is the US CPI report and how could it affect EUR/USD?

Wednesday’s US economic docket highlights the release of the latest consumer inflation figures, due later during the early North-American session at 1


NZD/USD extends gains, targets 0.67 ahead of US inflation data

After adding more than 40 pips on Wednesday, the NZD/USD pair extended its rebound from the multi-week lows that it set at 0.6568 yesterday and reache


USD/CAD technical analysis: On the verge of confirming a fresh bearish breakdown

Currently hovering around 38.2% Fibo. level of the Dec. 2017-Jan. 2019 bullish move, a follow-through weakness below the recent swing low – around the


USD/JPY technical analysis: Oversold conditions helped bounce off weekly lows, bearish bias remains

A slight improvement in the global risk sentiment, which tends to undermine the Japanese Yen’s relative safe-haven demand, turned out to be one of the


EUR/USD Technical Analysis: Interim hurdle aligns at the 21-day SMA at 1.1283 ahead of the 200-day SMA

EUR/USD Overview Today last price 1.1274 Today Daily Change 30 Today Daily Change % 0.20 Today daily open 1.1251 Trends Daily SMA20 1.1285 Daily SMA5


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