Prior was -3832KGasoline +8977K vs +3565K expDistillates -29K vs +512K expThat's a mammoth gasoline build on top of another huge one last week.
Source: Finnhub
Market Analysis by covering: US Dollar Japanese Yen, US Dollar Index Futures. Read 's Market Analysis on Investing.com
USDJPY
Source: Marketaux
Market Analysis by covering: US Dollar Japanese Yen, FTSE 100. Read 's Market Analysis on Investing.com
USDJPY
Source: Marketaux
The US Dollar Index has gained 0.5% following recent Federal Reserve communications, pressuring major currency pairs across the board. EUR/USD fell 0.4% to test 1.0320 support, while USD/JPY surged 0.8% to 157.85, approaching critical resistance at 158.00. The dollar's strength stems from hawkish Fed rhetoric suggesting fewer rate cuts in 2024 than previously anticipated. EUR/DKK remains stable near 7.4550, reflecting the Danish krone's peg to the euro. Technical indicators show the Dollar Index breaking above its 50-day moving average at 106.20, signaling potential continuation toward 107.00. Traders are positioning for sustained dollar strength, with immediate focus on upcoming US PPI and retail sales data that could reinforce the Fed's cautious stance on monetary easing.
EURUSD
USDJPY
EURDKK
DXY
Sentiment:
Very Positive
Source: Marketaux
GBP/USD remains subdued at 1.2180, down 0.2% following yesterday's stronger-than-expected US CPI data that reinforced dollar strength. The pair faces immediate resistance at 1.2220, with support established at 1.2150. Market participants await today's US Producer Price Index and retail sales figures, expected at 0.3% m/m and 0.5% m/m respectively, which could further influence Fed rate expectations. The pound's resilience is partially supported by Bank of England officials maintaining a hawkish stance on inflation control, though sterling struggles to gain meaningful traction against the resurgent dollar. Technical momentum indicators suggest continued consolidation, with the RSI hovering near 45. A break below 1.2150 support could accelerate losses toward 1.2100, while stronger-than-expected US data would likely maintain downward pressure on the pair.
GBPUSD
Sentiment:
Negative
Source: Marketaux
EUR/USD remains range-bound near 1.0820, showing minimal movement of 0.1% (10 pips) during the European session as markets await fresh catalysts. The European calendar remains empty except for ECB officials' speeches, with Vice President de Guindos expected to reiterate the central bank's neutral policy stance and balanced risk assessment. This messaging consistency has kept euro volatility subdued as traders position cautiously ahead of upcoming US economic releases later this week. Technical indicators suggest consolidation continues, with the pair trapped between 1.0800 support and 1.0850 resistance levels. The lack of significant European data leaves EUR/USD vulnerable to US dollar movements, particularly any shifts in Federal Reserve rate cut expectations. Traders should monitor any deviation from ECB's neutral rhetoric, though significant policy shifts appear unlikely in the near term.
EURUSD
Sentiment:
Negative
Source: Finnhub
USD/JPY has rallied 1.2% to 158.20, marking the highest level since July 2024, as Japan's policy paradox becomes increasingly apparent. The surge highlights growing tension between the Bank of Japan's ultra-loose monetary stance and mounting pressure for intervention to support the weakening yen. Market speculation intensifies around potential BOJ intervention near the psychologically significant 160.00 level, though officials remain publicly committed to their accommodative policy framework. The pair's rapid ascent has been fueled by widening US-Japan yield differentials, with the 10-year spread expanding to 380 basis points. Technical analysis shows overbought conditions with RSI above 72, suggesting potential for near-term consolidation. However, fundamental drivers remain intact, with traders closely monitoring any verbal intervention from Japanese authorities that could trigger sharp reversals in the pair's trajectory.
USDJPY
Sentiment:
Very Positive
Source: Marketaux
EUR/USD continues its bearish trajectory, currently trading at 1.0315, down 0.6% in early European session. The pair's decline accelerated after breaking below the key 1.0350 support level, with bearish momentum indicators suggesting further downside potential. Intraday scalping opportunities favor short positions on rallies toward 1.0330-1.0340 resistance zone, targeting 1.0280 initial support. The 15-minute chart shows a clear descending channel pattern, with MACD histogram deepening in negative territory. Volume analysis indicates strong selling pressure during US session overlap. The euro's weakness reflects growing concerns over Eurozone economic divergence from US growth trajectory, while the dollar maintains bid tone ahead of crucial US data releases. Scalpers should maintain tight stops above 1.0345 to protect against potential short squeezes, with profit targets staggered between 1.0295 and 1.0280.
EURUSD
Sentiment:
Very Negative
Source: Marketaux
GBP/USD maintains a tight trading range between 1.2150-1.2220, currently at 1.2180, as Bank of England hawkishness provides support against broad dollar strength. The pound finds resilience from BoE officials' continued emphasis on persistent UK inflation concerns, with recent comments suggesting rates may need to remain elevated longer than previously anticipated. However, sterling gains are capped by robust US dollar performance following strong economic data. The pair's 50-day moving average at 1.2195 acts as immediate resistance, while the 200-day MA at 1.2165 provides dynamic support. Range traders are capitalizing on the established boundaries, with volatility indicators suggesting continued consolidation. A decisive break above 1.2220 could target 1.2280, while failure to hold 1.2150 would expose 1.2080. Market focus shifts to upcoming UK employment data for potential range breakout catalysts.
GBPUSD
Sentiment:
Very Positive
Source: Marketaux
Silver's parabolic rally has accelerated momentum trading across precious metals and major forex pairs, with spot silver climbing 4.2% to $31.85 per ounce in early Asian trading. The surge has weakened the US dollar, pushing USD/JPY down 0.5% to 155.20 as traders rotate into risk assets and commodities. EUR/USD benefited from dollar weakness, advancing 0.3% to 1.0420, while gold spot prices rallied 1.8% to $2,685 per ounce. Technical indicators show silver breaking above its 50-day moving average at $30.50, triggering algorithmic buying programs. The Nasdaq 100 futures gained 0.8%, reflecting improved risk sentiment. Momentum traders are increasingly positioning for continued precious metals strength, with silver's RSI reaching overbought territory at 72. The move suggests potential further dollar weakness if commodities maintain their upward trajectory, with USD/JPY support seen at 154.80 and resistance at 156.00.
EURUSD
USDJPY
Sentiment:
Very Positive
Source: Marketaux
The US dollar has declined across major pairs as precious metals continue their remarkable rally, with silver surging past the psychological $90 level for the first time since 2011. The DXY index has dropped 0.4% to 106.20, pressured by the metals surge and renewed risk appetite. EUR/USD has climbed 45 pips to 1.0485, while GBP/USD advanced to 1.2340. The precious metals rally reflects growing inflation hedging demand and concerns about global monetary policy divergence. Gold has also extended gains to $2,680 per ounce, reinforcing the anti-dollar sentiment. Technical indicators suggest the dollar's weakness could accelerate if DXY breaks below the 106.00 support level. The silver breakout above $90 signals potential for further commodity-driven dollar selling, particularly against commodity currencies like AUD and CAD.
EURUSD
GBPUSD
AUDUSD
USDCAD
Sentiment:
Negative
Source: Finnhub
GBP/USD maintains strength near 1.2450, advancing 0.2% (25 pips) as political uncertainties surrounding Federal Reserve policy direction undermine dollar rally attempts. The pound's resilience comes despite mixed UK economic signals, with traders focusing on speculation about potential Fed policy shifts amid changing political landscape. EUR/GBP remains stable at 0.8680, indicating broad sterling strength rather than euro weakness. Meanwhile, GBP/JPY consolidates near 188.50 as risk sentiment remains cautiously optimistic. The dollar index has retreated 0.3% from recent highs as markets reassess the Fed's hawkish stance sustainability. Technical analysis shows GBP/USD defending key support at 1.2420, with bulls targeting 1.2500 psychological resistance. Further pound gains depend on maintaining above the 200-day moving average at 1.2400, while any dovish Fed signals could accelerate sterling's advance toward 1.2550.
GBPUSD
EURGBP
GBPJPY
DXY
Sentiment:
Positive
Source: Marketaux
