KVB Market Analysis | 31 July: USD/JPY Holds Near 152.50 as Markets Eye BoJ and Fed Decisions
The USD/JPY pair hovers around 152.50, just above a three-month low, as traders anticipate the Bank of Japan's policy decision, expecting a 10-basis-point rate hike and bond-buying tapering, which supports the Yen. A slight recovery in the US Dollar has paused the pair's rise, with the Dollar Index near 104.50 ahead of the Federal Reserve's meeting, where rates are expected to stay unchanged but with dovish guidance.
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Canadian Dollar Technical Analysis: Short-term CAD Weakness Anticipated–Setups for CAD/JPY, USD/CAD
While the BOC has turned more hawkish, other fundamental factors are working against the Canadian Dollar in the near-term. Volatility and weakness in oil prices coupled with a stretch of disappointing Canadian economic data are weighing on the Loonie. According to the IG Client Sentiment Index, USD/CAD rates have a bullish bias in the near-term.
NZD/USD Gyrates at Support as Economic Strength Bolsters RBNZ Rate Hike Bets
APAC traders look to close the week out on a bright note following Wall Street rebound. RBNZ rate hike bets continue to strengthen as economy recovers from Covid lockdowns. And, NZD/USD clings to 100-day Simple Moving Average (SMA) after overnight drop.
Canadian Dollar Reversal Pressure Up Despite Crude Oil Price Drop
The Canadian Dollar faces reversal pressures again after CPI data despite a drop in crude oil prices. Ahead, the Australian and New Zealand Dollars may rally with Asia stocks.
US Dollar Technical Outlook Versus PHP, SGD, MYR and INR Bearish？
Will the US Dollar see near-term losses against the Philippine Peso, Singapore Dollar and Malaysian Ringgit？ Technical signals seem to point in that direction as FOMC minutes near.
US Dollar May Rise, GBP/USD Eyes 1985 Low After UK GDP Contraction
The US Dollar may extend its recovery from Fridays US-China trade update. Meanwhile, the GBP/USD could reach its lowest point since 1985 after the UK economy unexpectedly contracted.
AUD/USD Downtrend at Support Before RBA Speech, Tesla Shares Sink
Risk aversion may be ahead after Tesla earnings disappointed, North Korea reportedly launched two projectiles. The AUD/USD downtrend eyes RBA Governor speech for rate cut signals.
ASX 200 Could Revisit Record Peaks If Fed Nurtures Risk Revival
The ASX 200 has had a good (trade) war, despite its clear links to both main protagonists, China and the US. It could do even better should US rates head down again.
DAX 30 May Top, Hinting Market Downturn After Mixed Asia Session
EU-US trade war fears may fuel risk aversion in European trade after a mixed Asia Pacific session, confirming a top that could be developing in the DAX 30 as the Japanese Yen gains.
Sterling Price Outlook: Pound at Key Support as Brexit Saga Continues
Sterling is trading within the confines of a near-term consolidation pattern just above key support. Here are the levels that matter on the GBP/USD charts this week.
US Dollar Eyeing Breakout after Muted Action on Fed Chair Powell
The US Dollar is on the eve of a breakout to find its next path in the short-term after Fed Chair Jerome Powell couldnt offer
Nikkei 225 Eyes Key Resistance After Rally in S&P 500 as USD Fell
The US Dollar fell as a recovery in sentiment sapped its appeal as a haven asset. Asia stocks may rise, offering the Nikkei 225 a
US Dollar Rally Resumes as S&P 500 Looks More at Risk to Reversal
US Dollar resumed rally as CPI report reduced dovish Fed policy bets, sapping upside potential from the S&P 500 which looks more vulnerable. Asia Pacific