The USDCAD spent yesterday capped by a confluence of resistance—its 100-day moving average at 1.37738 and the 100-bar moving average on the 4-hour chart at 1.37516. In early trading today, sellers again leaned on the lower 4-hour average, but buyers stepped in, pushing the pair higher .Stronger-than-expected PPI data fueled a breakout above the 100-day moving average, triggering a run that took price beyond this week’s prior high at 1.3805.
USD
CAD
Source: Finnhub
The USDCHF is moving higher after stronger-than-expected PPI data showed a 0.9% gain in July. The rally has pushed the price back above the broken 38.2% retracement level at 0.80711—a key area that capped gains in yesterday’s Asian session before the pair rotated lower.
USD
CHF
Sentiment:
Very Positive
Source: Finnhub
Rate cut expectations from the Fed eased after data from the U.S. revealed a higher-than-expected level of producer price inflation..
USDCAD
Source: Marketaux
Rate cut expectations from the Fed eased after data from the U.S. revealed a higher-than-expected level of producer price inflation..
USDCAD
Source: Marketaux
Crude oil prices have extended their decline since early August's softer-than-expected NFP report sparked growth concerns, with WTI trading near multi-month lows. The bearish momentum accelerated following OPEC+'s anticipated production increase, adding supply pressure to an already weakening demand outlook. Market focus has shifted to tomorrow's Trump-Putin summit in Alaska, where discussions on potential ceasefire agreements could ease US sanctions on Russian oil exports. This development has reduced geopolitical risk premiums, contributing to the current downtrend. Technical indicators suggest further weakness, with key support levels at $68.50 and $67.00 per barrel. Any breakthrough in diplomatic talks could trigger additional selling pressure as markets price in increased Russian crude supply. Traders should monitor the summit outcomes closely, as failure to reach agreements might spark a relief rally in oil prices.
USDCAD
USDRUB
Sentiment:
Negative
Source: Finnhub
Market Analysis by covering: Euro US Dollar, British Pound US Dollar, Gold Spot US Dollar, Gold Futures. Read 's Market Analysis on Investing.com
EURUSD
Sentiment:
Neutral
Source: Marketaux
Market Analysis by covering: New Zealand Dollar US Dollar. Read 's Market Analysis on Investing.com
NZDUSD
Sentiment:
Positive
Source: Marketaux
GBP/USD is trading under pressure ahead of the UK Q2 GDP release, expected to show a sharp deceleration to 0.1% q/q growth from Q1's stronger performance. The anticipated slowdown reflects the reversal of export frontloading that boosted Q1 figures ahead of Trump's reciprocal tariffs, combined with deteriorating manufacturing conditions. Sterling traders are bracing for disappointing data that would contrast sharply with the government's earlier optimism about Q1 results. The manufacturing sector's weakness and fading export surge suggest limited upside potential for the pound. Technical levels show GBP/USD testing support near 1.2750, with resistance at 1.2820. A weaker-than-expected GDP print could accelerate sterling's decline toward 1.2700, while any positive surprise might offer temporary relief. The data's implications for Bank of England policy remain crucial, as persistent economic weakness could delay further rate normalization.
GBPUSD
Sentiment:
Negative
Source: Finnhub
USD/JPY surged during Asian trading as Treasury Secretary nominee Bessent's policy comments created significant FX market volatility. The pair gained momentum despite broader dollar weakness against other majors, highlighting yen-specific selling pressure. Bessent's remarks suggested a more hawkish fiscal stance than markets anticipated, supporting dollar strength against safe-haven currencies. Major investment banks including Citigroup and Goldman Sachs have revised their USD/JPY forecasts higher, citing diverging monetary policies between the Fed and BoJ. The Dollar Index futures showed mixed signals, declining 0.2% while USD/JPY advanced, indicating selective dollar strength. Technical analysis shows the pair breaking above the 150.00 psychological level, with next resistance at 151.50. Traders should watch for any BoJ intervention signals as the pair approaches historically sensitive levels. Near-term momentum remains bullish pending further policy clarifications.
USDJPY
Sentiment:
Very Positive
Source: Marketaux
USD/JPY has fallen 0.6% to 146.40, marking three-week lows after US Treasury Secretary Scott Bessent publicly urged the Bank of Japan to raise interest rates. The yen strengthened across the board following Bessent's unusual intervention in Japanese monetary policy, which traders interpreted as potential US administration support for a stronger yen. The comments have reignited speculation about BOJ policy normalization, with markets now pricing in higher probability of rate hikes in coming meetings. Technical analysis shows USD/JPY breaking below key support at 147.00, with immediate targets at 146.00 and potentially 145.50. The Nikkei index has also reacted negatively to yen strength, declining as exporters face headwinds. Traders are monitoring whether Japanese officials will respond to Bessent's remarks and any shifts in BOJ communication regarding their ultra-loose monetary stance.
USDJPY
Sentiment:
Negative
Source: Marketaux
The Japanese yen has surged across all major pairs during Thursday's Asian session following US Treasury Secretary Bessent's call for BOJ rate hikes. USD/JPY led declines, dropping to 146.40, while cross-yen pairs also weakened significantly. The Nikkei 225 index fell sharply as yen appreciation pressured export-oriented stocks. Bessent's comments mark unusual US government intervention in Japanese monetary policy, suggesting Trump administration preference for a stronger yen to address trade imbalances. Asian FX markets showed mixed reactions, with risk-sensitive currencies underperforming amid the shift in sentiment. Technical indicators suggest further yen strength possible, with USD/JPY eyeing 145.00 support. The development raises questions about future US-Japan monetary policy coordination and potential BOJ response. Traders are repositioning for possible acceleration in BOJ policy normalization timeline.
USDJPY
EURJPY
GBPJPY
Sentiment:
Very Positive
Source: Marketaux
USD/JPY faces continued selling pressure after US Treasury Secretary Scott Bessent publicly criticized the Bank of Japan's monetary policy stance, explicitly calling for immediate rate hikes. The unprecedented intervention by a US Treasury Secretary in Japanese monetary affairs has triggered sharp yen appreciation, with USD/JPY testing multi-week lows. Markets interpret Bessent's comments as reflecting Trump administration's desire for a stronger yen to address bilateral trade issues. The remarks have increased speculation about accelerated BOJ policy normalization, potentially ending Japan's negative interest rate policy sooner than anticipated. Technical analysis shows USD/JPY breaking below crucial support levels, with momentum indicators signaling further downside potential toward 145.00. The development marks a significant shift in US-Japan monetary dynamics, with traders now closely monitoring BOJ officials' response and any policy guidance adjustments.
USDJPY
Sentiment:
Very Negative
Source: Marketaux
GBP/USD has climbed 0.5% to 1.2850 as diverging central bank expectations drive sterling strength against the dollar. Markets are pricing in a hawkish Bank of England stance with inflation remaining elevated at 4.2%, well above the 2% target, while weak US economic data has increased Federal Reserve rate cut probabilities to 75% for September. The pound found strong support at 1.2800 (50-day moving average) before breaking through resistance at 1.2830. Technical indicators show bullish momentum with RSI at 65, suggesting further upside potential toward 1.2900. The divergence in monetary policy outlook between the UK and US is expected to continue supporting GBP/USD in the near term. Traders should watch Wednesday's UK CPI data and Thursday's US retail sales for potential catalysts that could either reinforce or challenge the current bullish trend.
GBPUSD
Sentiment:
Very Positive
Source: Marketaux
