The USDCAD rebounded sharply after finding support near a prior swing low at 1.3591 and pushing back above both the 61.8% retracement and a key swing area between 1.36337 and 1.3650. That move shifted the short-term bias more in favor of buyers.Momentum carried the pair up to test the 100-hour moving average and the 50% retracement of the June decline, both converging between 1.36599 and 1.3668 with the high at 1.3665.
USD
CAD
Source: Finnhub
The dollar index today is down by -0.32%. The dollar today added to Monday’s losses and posted a 3-1/3 year low. The dollar remains under pressure due to uncertainties over US trade policies, with many nations trying to negotiate trade deals with the US before President Trump’s July...
EURUSD
Source: Marketaux
The US dollar gained strength following better-than-expected ISM Manufacturing PMI and JOLTS data, pushing the 10-year Treasury yield up 2 basis points to 4.248%. GBPUSD declined to test its 100-hour moving average, turning negative for the day, while EURUSD retreated toward unchanged levels after earlier gains. Fed Chair Powell confirmed the central bank remains on hold while monitoring incoming economic data. Technical analysis shows EURUSD facing immediate support between 1.1753-1.1769, a critical zone that could determine near-term direction. The improved US economic indicators have reinforced market expectations that the Fed will maintain its current policy stance, providing underlying support for the dollar. Traders should watch these key technical levels closely, as a break below support in EURUSD could signal further dollar strength, while GBPUSD's ability to hold the 100-hour MA will be crucial for determining whether the pound can stabilize or face additional selling pressure.
GBPUSD
EURUSD
Sentiment:
Positive
Source: Finnhub
EUR/USD has surged to a 33-month high as Eurozone inflation data exceeded expectations and the European Central Bank maintained its hawkish rhetoric. The latest CPI figures showed persistent price pressures across the euro area, reinforcing market expectations that the ECB will need to maintain or potentially increase its restrictive monetary policy stance. The euro's strength reflects growing divergence between ECB and Federal Reserve policy outlooks, with the Fed showing signs of a more dovish pivot while the ECB remains committed to fighting inflation. Technical momentum remains strongly bullish, with the pair breaking through multiple resistance levels that had held since early 2022. The combination of robust inflation data and ECB officials' hawkish commentary suggests the euro could maintain its upward trajectory. Traders should monitor upcoming ECB communications and US economic releases for potential catalysts that could either extend the rally or trigger profit-taking at these elevated levels.
EURUSD
Sentiment:
Very Positive
Source: Marketaux
EUR/USD is trading in a tight range around the 1.1800 level as markets await key developments from the ECB's annual Sintra Forum and upcoming inflation data. The pair has shown resilience at current levels despite mixed signals from both European and US economic indicators. USDJPY continues to exhibit volatility as traders balance between diverging central bank policies, while the Dollar Index futures reflect uncertainty about the greenback's near-term direction. The Sintra Forum traditionally provides important policy signals from ECB officials, with this year's event particularly crucial given persistent inflation concerns and growth headwinds in the Eurozone. Technical indicators suggest consolidation is likely to continue until fresh catalysts emerge, with 1.1750 providing support and 1.1850 acting as resistance. Market participants are positioning cautiously, awaiting clearer guidance on monetary policy trajectories from both the ECB and Federal Reserve before committing to directional trades.
EURUSD
USDJPY
Sentiment:
Neutral
Source: Marketaux
Gold (XAU/USD) has stabilized around the major upward trendline near $2,320, recovering from last week's geopolitical-driven selloff that saw prices drop 2.5% as Israel-Iran tensions eased. The precious metal is finding renewed buying interest as traders increase bets on Federal Reserve rate cuts, with CME FedWatch showing 65% probability of a September cut versus 45% last week. Dollar weakness is providing additional support, with the DXY index declining 0.4% to start July trading. Technical indicators show XAU/USD maintaining its bullish structure above the key trendline support, with immediate resistance at $2,350 and stronger barriers at the all-time high of $2,450. The rangebound price action between $2,300-2,400 is expected to persist until this week's US economic data releases, including ISM Manufacturing PMI and Friday's Non-Farm Payrolls, provide clearer directional catalysts for both gold and the dollar.
XAUUSD
Sentiment:
Positive
Source: Finnhub
USD/CHF has broken below the psychologically important 0.8000 level for the first time since the 2008 financial crisis, marking a significant milestone in Swiss franc strength. The dramatic decline reflects multiple factors including persistent safe-haven demand for the franc, diverging monetary policies between the Swiss National Bank and Federal Reserve, and concerns about US fiscal sustainability. The SNB's relatively hawkish stance compared to other major central banks has supported the franc, while recent US economic data has weighed on dollar sentiment. This multi-year low represents a critical technical breakdown that could accelerate franc appreciation if the level cannot be reclaimed quickly. The move below 0.8000 may trigger additional selling pressure from technical traders and algorithmic systems. Traders should monitor SNB intervention risks at these extreme levels, though the central bank has shown less willingness to actively weaken the franc recently compared to previous years.
USDCHF
Sentiment:
Very Negative
Source: Marketaux
Gold prices have gained ground as the US dollar weakened across major pairs ahead of Federal Reserve Chair Powell's scheduled congressional testimony. EURUSD and GBPUSD both advanced against the greenback, while USDCHF extended its decline and USDSEK also moved lower, reflecting broad-based dollar weakness. The precious metal's rise correlates with increased uncertainty about the Fed's policy trajectory and market positioning ahead of Powell's remarks, which could provide crucial insights into the central bank's thinking on rates and economic conditions. Currency markets are showing risk-on sentiment with traditional safe-haven currencies like CHF strengthening against the dollar. Technical analysis suggests gold could test recent highs if dollar weakness persists following Powell's testimony. Traders are particularly focused on any hints about the Fed's inflation outlook and potential timeline for policy adjustments, which could significantly impact both gold and currency markets in the near term.
EURUSD
GBPUSD
USDCHF
USDSEK
Sentiment:
Negative
Source: Marketaux
The GBP/USD outlook suggests a rally in the pound following a strong finish to the second quarter of the year.
GBPUSD
Source: Marketaux
Market Analysis by covering: US Dollar Japanese Yen, Nasdaq 100, Gold Spot US Dollar, S&P 500. Read 's Market Analysis on Investing.com
USDJPY
Sentiment:
Neutral
Source: Marketaux
USD/JPY remains under modest selling pressure near 161.20 following dovish comments from Bank of Japan board member Masu, who emphasized that underlying inflation remains below the 2% target. The official stated the BoJ cannot rush into raising interest rates and must move cautiously while monitoring various economic indicators. Masu specifically highlighted concerns about ongoing trade negotiations between Japan and the US, noting automobiles as Japan's export mainstay. The cautious stance suggests the BoJ will maintain its ultra-loose monetary policy for longer than some market participants anticipated. Technical indicators show USD/JPY consolidating below the 161.50 resistance level, with immediate support at 160.80. The pair's direction will likely depend on upcoming US economic data and any shifts in BoJ rhetoric, with traders closely watching for signs of policy divergence between the Federal Reserve and Bank of Japan.
USDJPY
Sentiment:
Neutral
Source: Finnhub
The US dollar index (DXY) has declined 0.4% to 105.20 in early July trading, extending June's 1.2% loss as major currency pairs rally against the greenback. EUR/USD gained 0.35% to 1.0745, while GBP/USD advanced 0.3% to 1.2680, benefiting from broad-based dollar weakness amid growing expectations of Federal Reserve policy easing. The dollar's struggles reflect shifting market sentiment following softer US economic data and reduced hawkish rhetoric from Fed officials. Asian currencies also participated in the rally, with USD/JPY falling 0.25% to 160.80 despite Bank of Japan's continued ultra-loose policy stance. Technical analysis shows the DXY breaking below its 50-day moving average at 105.50, opening the path toward 104.80 support. Traders are positioning for potential further dollar weakness ahead of this week's key US data releases, particularly Friday's employment report which could cement expectations for Fed rate cuts if job growth disappoints.
EURUSD
GBPUSD
USDJPY
DXY
Sentiment:
Negative
Source: Marketaux
Market Analysis by covering: US Dollar Swiss Franc, US Dollar Index Futures, US Dollar Index RT. Read 's Market Analysis on Investing.com
USDCHF
Sentiment:
Neutral
Source: Marketaux
EUR/USD is showing positive momentum in early Tuesday trading, hovering near 1.0830 as European stock markets prepare for an optimistic opening amid easing global trade tensions. Market sentiment has improved following signals of potential de-escalation in international trade disputes, providing support for risk-sensitive currencies including the euro. The positive European market outlook contrasts with recent concerns about eurozone economic growth, offering temporary relief for euro bulls. Technical analysis shows EUR/USD testing resistance at the 1.0840 level, with a break above potentially opening the path toward 1.0860. Support remains firm at 1.0800, reinforced by the 50-day moving average. Traders await Wednesday's eurozone inflation data and Thursday's ECB meeting minutes for further directional cues. The improved risk appetite could continue supporting EUR/USD gains, though any resurgence in trade concerns or disappointing European data could quickly reverse the positive momentum.
EURUSD
Sentiment:
Positive
Source: Marketaux
The US dollar has strengthened 0.2% against major peers as political tensions between former President Trump and Elon Musk create uncertainty around future economic policies. Trump's criticism of Musk over EV mandates has raised questions about potential policy directions should Trump return to office in 2024. The dollar index (DXY) pushed to 104.85, with USD/JPY climbing 25 pips to 157.40 and EUR/USD declining to 1.0820. Markets are interpreting the political discord as potentially disruptive to business confidence and investment decisions. The disagreement over electric vehicle policies specifically impacts sectors tied to green energy transitions and could influence Federal Reserve considerations on economic growth projections. Technical indicators show USD/JPY approaching resistance at 157.60, while EUR/USD finds support near the 1.0800 psychological level. Traders should monitor how this political uncertainty affects risk sentiment in the coming sessions.
USDJPY
EURUSD
Sentiment:
Positive
Source: Finnhub
AUD/USD surged 0.4% to 0.6685 following China's Caixin Manufacturing PMI jumping to 51.2 in June, significantly above the expected 50.3 and marking expansion territory. This private sector gauge contrasts with the official PMI of 49.5, suggesting divergence between smaller private manufacturers and larger state enterprises. The Australian dollar, highly sensitive to Chinese economic data due to trade ties, led gains among commodity currencies. NZD/USD also climbed 0.3% to 0.6120, while USD/CAD retreated to 1.3650. The positive China data boosted risk appetite across Asian markets, with equity futures advancing. Technical analysis shows AUD/USD breaking above the 0.6670 resistance level, with next targets at 0.6710 and 0.6750. Support has formed at 0.6640. The data reinforces expectations that China's economy may be stabilizing, potentially supporting further commodity currency strength.
AUDUSD
NZDUSD
USDCAD
Sentiment:
Very Positive
Source: Marketaux
Hong Kong financial markets remain closed today in observance of the Hong Kong Special Administrative Region Establishment Day, commemorating the 1997 transfer of sovereignty from Great Britain to China. This closure affects all HKD currency pairs and reduces overall Asian market liquidity during the trading session. The absence of Hong Kong's major financial hub may lead to thinner trading conditions for USD/HKD, which typically trades around the 7.80-7.85 range under the city's currency peg system. Regional pairs including AUD/HKD and NZD/HKD may experience wider spreads and reduced volumes. Traders should note that normal market operations will resume on Tuesday, with potential for increased volatility as participants return. The holiday closure coincides with the start of Q3 trading, potentially delaying position adjustments in Asian currency markets.
USDHKD
AUDHKD
NZDHKD
Sentiment:
Neutral
Source: Finnhub
USD/JPY declined sharply to trade below 143.60, falling approximately 0.4% (55 pips) following the release of better-than-expected Bank of Japan Tankan survey results. The quarterly business sentiment index showed improvement across key metrics, reinforcing expectations for potential BOJ policy normalization. Large manufacturers' sentiment index likely exceeded forecasts, suggesting Japanese economic resilience despite global headwinds. The yen's strength reflects growing market confidence in Japan's economic recovery and speculation about future BOJ policy adjustments. Technical indicators show USD/JPY breaking below the key 143.60 support level, with next support at 143.00 psychological level. Immediate resistance now sits at 144.00. The dollar's weakness extends its recent decline, pressured by shifting interest rate differentials and risk sentiment. Traders are positioning for potential further yen appreciation if BOJ signals any hawkish shift in upcoming policy meetings.
USDJPY
Sentiment:
Negative
Source: Marketaux
Major US equity indices closed at record highs with the S&P 500 and NASDAQ each gaining approximately 0.50%, signaling robust risk appetite that influenced forex markets. The positive equity performance typically supports USD strength through capital inflows, though currency pairs showed mixed reactions. Risk-sensitive pairs like AUD/USD and NZD/USD likely benefited from the improved sentiment, while safe-haven currencies JPY and CHF faced selling pressure. The record closes suggest continued confidence in US economic resilience despite global uncertainties. Technical indicators point to potential USD consolidation near current levels, with major pairs testing key resistance zones. Traders should monitor whether this risk-on sentiment persists into Asian and European sessions, as sustained equity strength could further impact USD crosses and commodity currencies throughout the week.
AUDUSD
NZDUSD
USDJPY
USDCHF
Sentiment:
Positive
Source: Finnhub
The US dollar faces renewed political pressure as President Trump publicly criticized Fed Chair Jerome Powell on Truth Social, demanding interest rates be lowered to 1%. Trump labeled Powell as 'Too Late' and stated the entire Federal Reserve Board should be ashamed of maintaining current rate levels. The aggressive rhetoric signals potential intensified political interference in monetary policy decisions ahead. Markets are watching for any Fed response or shift in policy stance, though the central bank has historically maintained independence from political influence. The dollar index showed minor weakness following the comments, trading down 0.1% as traders assess the implications. This development adds uncertainty to the Fed's rate trajectory, with markets currently pricing in potential rate cuts later in 2025. Continued political pressure could complicate the Fed's inflation-fighting efforts and impact dollar strength across major pairs.
EURUSD
GBPUSD
USDJPY
AUDUSD
USDCAD
NZDUSD
USDCHF
Sentiment:
Negative
Source: Finnhub