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The US Dollar Index (DXY) and EUR/USD are testing defining long-term technical levels that could determine whether the next major move is a breakout or a reversal. At the same time, markets continue to weigh persistent US rate hike expectations against the longer-term implications of the evolving payment framework through the Strait of Hormuz.
Forex
The US dollar found no clues in Kevin Warsh's comments, and attention shifted to the US labour market report for June. The Fed Chair noted a reduction in inflationary risks and reaffirmed the central bank's commitment to bringing inflation back to the 2% target.
Japan may not have spent a dollar today, but it may have achieved one of the key goals of intervention anyway. USD/JPY plunged from 162.59 to below 161.30, a move large enough to trigger immediate speculation that Tokyo had stepped into the market.
Euro: Fed story caps upside against US Dollar – ING
Silver Price Forecast: XAG/USD rises to near $59.60 as US Dollar slumps ahead of US NFP data
USD/JPY falls sharply while on intervention watch & ahead of the NFP report. Oil continues to fall as supply rebounds & OPEC.
USD/JPY tumbled sharply after a sudden bout of yen strength raised suspicions of stealth intervention by Japanese authorities ahead of the closely watched US non-farm payrolls report. While widening US-Japan yield spreads continue to favour a stronger dollar, record speculative short positions in the yen increase the risk of further intervention-driven volatility.
Following mixed performance by the US dollar earlier this week, investors are now fully focused on the June Nonfarm Payrolls report, which will be released on Thursday rather than Friday. The schedule has been brought forward as US financial markets will be closed on Friday to mark the 250th anniversary of the signing of the Declaration of Independence.
Intraday analysis covering USDJPY(The Yen) , NZDUSD , and SPX 500 , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. USDJPY sinks lower USDJPY(The Yen) clawed back losses after prices fell away from its recent peak.
The British Pound is forecast to surrender some of its recent gains against the euro over the coming months as political uncertainty and shifting Bank of England interest rate expectations weigh on Sterling, according to Rabobank. The Dutch bank believes the change in UK political leadership has removed the immediate risk of a prolonged.
Razan Hilal, FOREX.com Market Analyst, examines the U.S. Dollar Index, gold and silver as rising rate expectations and dollar strength push precious metals toward historically significant technical levels. She explains the key price zones that could determine whether gold and silver extend their declines or establish long-term buying opportunities, and why the next major move may depend on the direction of the U.S. dollar.
British Pound: Sterling shorts unwind as EUR/GBP breaks support – ING
The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range on Wednesday as uncertainty surrounding USMCA trade negotiations kept the Canadian Dollar subdued while Sterling awaited comments from Bank of England Governor Andrew Bailey. At the time of writing, GBP/CAD was trading at CA$1.8827, little changed on the.
USD/CAD Price Forecast: Remains in tight range near 1.4200, eyes on US NFP
The Pound to Rupee (GBP/INR) exchange rate traded around 126.62 on Thursday, holding close to one-week highs after Sterling rebounded sharply at the start of July while the Indian Rupee struggled to build on June's recovery. Latest — Exchange Rates:Pound to Rupee (GBP/INR): 126.6190 (-0.08%)Previous Close: 126.7200.
Euro: Downside risk toward key supports against US Dollar – UOB
GBP/USD Price Forecast: Extends recovery to near 20-day EMA amid hopes of commitment to fiscal rules
Pound Sterling Price News and Forecast: GBP/USD attracts some buyers to around 1.3290
The Pound to Dollar (GBP/USD) exchange rate traded in a narrow range on Wednesday as investors digested remarks from the heads of the Federal Reserve and Bank of England at the ECB's annual Sintra Forum. At the time of writing, GBP/USD was trading around $1.3270, little changed on the day.
The US Dollar remained firm ahead of today's nonfarm payrolls report amid sticky core inflation and monetary policy divergence. DXY held at $101.33 inside a blue ascending channel while EUR/USD held $1.1388 support and GBP/USD defended $1.3289 resistance zone.
