WTI crude oil futures settled at $58.95, gaining $0.31 (0.53%) despite EIA data revealing significant inventory builds across all petroleum products. The session saw prices reach a high of $59.64 before retreating. EIA weekly data showed crude inventories rose by 0.574 million barrels versus expectations of a 0.821 million decline. Distillates increased by 2.059 million barrels, nearly triple the 0.707 million forecast, while gasoline stockpiles surged 4.518 million barrels, far exceeding the 1.468 million estimate. The price action suggests underlying demand concerns may be offsetting typical bearish inventory data. Technically, crude closed below its 100-hour moving average at $59.07 after trading mostly above this level during the session. This close below key technical support could signal near-term weakness, with immediate support at the session low of $58.37.
Sentiment:
Neutral
Source: Finnhub
USD/JPY has declined to a new session low, currently testing the crucial 155.00 support level as selling pressure intensifies. The pair has fallen approximately 0.5% (75 pips) from the day's highs, reflecting renewed yen strength amid risk-off sentiment in global markets. Technical indicators suggest bearish momentum is building, with the pair breaking below key moving averages and previous support zones. The 155.00 level represents a significant swing area that has acted as both support and resistance in recent trading sessions. A decisive break below this threshold could accelerate losses toward 154.50 and potentially 154.00, where the next major support cluster resides. Traders are closely monitoring this technical breakdown, particularly given the Bank of Japan's recent hawkish rhetoric and the potential for intervention if yen weakness persists. The immediate resistance now sits at 155.50, with stronger barriers at 156.00.
USDJPY
Sentiment:
Negative
Source: Finnhub
The US Dollar Index has declined 0.5% to 105.20 as global markets increasingly price in Federal Reserve rate cuts for early 2025. Growing expectations of monetary easing have emerged following recent economic data suggesting cooling inflation and moderating labor market conditions. Market participants now assign a 75% probability to a 25-basis-point cut at the March FOMC meeting, up from 60% last week. The dollar's broad-based weakness has benefited major counterparts, with EUR/USD gaining 60 pips to 1.0580 and GBP/USD advancing to 1.2720. Technical indicators show the DXY approaching critical support at 105.00, which if broken could accelerate selling pressure. Treasury yields have also retreated, with the 10-year falling to 4.15%, further undermining dollar strength. Traders should monitor upcoming US economic releases, particularly Friday's NFP data, which could either validate or challenge current rate cut expectations.
EURUSD
GBPUSD
DXY
Sentiment:
Negative
Source: Marketaux
USD/JPY has broken below the psychologically important 149.00 level, declining 0.8% (120 pips) to 148.65 in today's session. The bearish momentum accelerated after failing to hold above the 150.00 resistance, triggering stop-loss orders and technical selling. The move reflects both dollar weakness amid Fed rate cut speculation and renewed yen strength as Bank of Japan officials hint at potential policy normalization. Technical analysis reveals the pair has breached its 50-day moving average at 149.20, opening the path toward the next major support at 147.80. RSI indicators have entered oversold territory at 28, suggesting a potential short-term bounce, though the overall trend remains bearish. Japanese economic data showing improving inflation at 2.3% YoY has bolstered expectations for BoJ action. Traders should watch for any verbal intervention from Japanese officials, as rapid yen appreciation could prompt concerns about export competitiveness.
USDJPY
Sentiment:
Very Negative
Source: Marketaux
EUR/USD has surged 0.7% (75 pips) to 1.0625, paradoxically strengthening despite growing concerns about Eurozone disinflation. November's preliminary CPI data showed inflation falling to 2.2% YoY from 2.4%, below the ECB's comfort zone and raising questions about the pace of future rate cuts. The euro's strength primarily reflects broad dollar weakness rather than inherent euro positivity. Markets are now pricing in a 40% chance of a 50-basis-point ECB cut in December, up from 25% last week. The technical picture shows EUR/USD breaking above the 1.0600 resistance, with momentum indicators suggesting further upside toward 1.0680. However, the disinflation narrative poses medium-term risks for the euro, as aggressive ECB easing could cap gains. Traders should monitor Thursday's ECB officials' speeches for clarity on the policy outlook, as any dovish signals could reverse current euro strength despite the favorable technical setup.
EURUSD
Sentiment:
Positive
Source: Marketaux
AUD/USD has achieved a bullish breakout above 0.6550 resistance, gaining 0.6% (40 pips) to 0.6575 amid improving risk sentiment and commodity price strength. The Australian dollar benefits from copper futures rising 2.1% and iron ore advancing 1.8%, reflecting optimism about Chinese demand. Technical indicators confirm the breakout, with the pair clearing its 100-day moving average and MACD turning positive. However, significant event risk looms with Tuesday's RBA rate decision and Wednesday's Chinese PMI data. Markets expect the RBA to hold rates at 4.35%, but any hawkish commentary could propel AUD/USD toward 0.6620 resistance. Conversely, disappointing Chinese economic data could quickly reverse gains, given Australia's export dependence. The Nasdaq 100's 0.5% gain supports risk-on positioning, favoring commodity currencies. Traders should consider the elevated volatility risk, with implied volatility rising to 8.2% ahead of key events.
AUDUSD
Sentiment:
Positive
Source: Marketaux
AUD/USD continues its upward trajectory, trading near 0.6580 as the Australian dollar extends a two-week rally against a weakening US dollar. The pair has maintained bullish momentum despite Australia's softer-than-expected GDP print, with strong domestic demand indicators providing underlying support for the currency. The resilience in consumer spending and business investment data has helped offset concerns about headline growth figures, keeping the Reserve Bank of Australia's hawkish stance intact. USD weakness across the board has further amplified AUD gains, as markets reassess Federal Reserve rate expectations. Technical indicators suggest continued bullish momentum, with the pair breaking above key resistance levels. Immediate resistance lies at 0.6600, while support has formed at 0.6550. Traders are positioning for potential continuation toward 0.6620 if current momentum persists and US dollar weakness continues.
AUDUSD
Sentiment:
Very Positive
Source: Marketaux
EUR/USD declined 0.15% to 1.0515 as Spain's Services PMI came in below expectations at 55.6 versus 56.1 forecast, down from 56.6 previously. The Composite PMI also disappointed at 55.1, missing the 56.0 prior reading. While Spain's services sector maintains expansion above the 50-threshold, the deceleration raises concerns about eurozone growth momentum heading into year-end. Despite continued domestic demand strength and stable employment conditions, the softer data weighs on euro sentiment amid broader European economic fragility. HCOB analysts maintain Spain will see robust Q4 GDP growth based on October-November PMI averages, but the downward trend warrants caution. Technical resistance for EUR/USD sits at 1.0550, with support emerging near 1.0480. Traders await Thursday's ECB policy decision and eurozone-wide PMI data for clearer directional cues on the single currency's trajectory.
EURUSD
Sentiment:
Neutral
Source: Finnhub
The US dollar has gained momentum across major pairs as markets price in potential policy shifts following reports of Kevin Hassett's possible appointment to a key economic advisory role. EUR/USD declined 0.2% to 1.0520, while USD/CNY advanced 0.3% to 7.2450 amid renewed trade policy concerns. The dollar index climbed to 106.80, reflecting broad-based USD strength. EUR/PLN retreated from recent highs to 4.2850 as the zloty found support from improving regional risk sentiment. USD/INR held steady near 84.50, with the Reserve Bank of India's intervention limiting rupee weakness. Technical indicators suggest EUR/USD faces immediate resistance at 1.0550, with support at 1.0500. The appointment speculation has reignited focus on US trade policies, particularly regarding China relations, potentially supporting further dollar gains if confirmed.
EURUSD
EURPLN
USDINR
USDCNY
Sentiment:
Positive
Source: Marketaux
Gold prices pulled back 0.8% to $2,640 per ounce during Tuesday's session, prompting traders to increase long positions on the dip. The precious metal's decline coincided with a stronger US dollar and rising Treasury yields, with the 10-year yield climbing to 4.25%. AUD/USD weakened 0.4% to 0.6480, pressured by both dollar strength and softer commodity prices. Technical analysis shows gold maintaining support above the $2,620 level, with the 50-day moving average providing a floor. Traders report accumulating positions during the pullback, viewing recent highs near $2,680 as achievable targets. Market positioning data indicates net long positions have increased by 15% over the past week, suggesting underlying bullish sentiment remains intact despite the correction. Near-term resistance stands at $2,660, with a break above potentially triggering momentum toward $2,700.
AUDUSD
XAUUSD
Sentiment:
Very Positive
Source: Marketaux
GBP/USD rallied 0.5% to 1.2730 during European trading, successfully breaking above the 1.2700 resistance level that had capped gains for the past week. The pound's strength was supported by better-than-expected UK Services PMI data, which rose to 53.7 from 52.5, indicating robust expansion in the services sector. Technical momentum has turned decidedly bullish, with the RSI climbing above 65 and the pair trading above all major moving averages. The breakthrough above 1.2700 has opened the path toward the next resistance at 1.2780, coinciding with November highs. Support has now formed at the former resistance of 1.2700, with additional backing at 1.2650. Trading volumes increased 20% during the breakout, confirming strong buying interest. The move positions GBP/USD for potential continuation toward the 1.2800 psychological level if momentum persists.
GBPUSD
Sentiment:
Very Positive
Source: Marketaux
AUD/USD declined 0.5% to 0.6420 following disappointing Australian Q3 GDP data showing only 0.4% q/q growth versus 0.7% expected, signaling economic slowdown. RBA Governor Bullock's comments acknowledging upside inflation surprises while maintaining anchored expectations suggest potential policy tightening ahead. Meanwhile, USD/INR surged to a record high above 90.00 as the Indian rupee weakened amid dollar strength and capital outflows. Asian services PMI data showed mixed results with China's Caixin PMI falling to 52.1 from 52.6, while Japan's final services PMI improved marginally to 53.2. Market uncertainty increased following reports of Trump's Fed chair candidate selection process and controversial statements about Biden pardons. The weak Australian growth data reinforces bearish pressure on AUD/USD with immediate support at 0.6400, while resistance sits at 0.6450.
AUDUSD
USDINR
USDJPY
USDCNY
Sentiment:
Negative
Source: Finnhub
The USD remains range-bound following the Tennessee House special election results, where Republican Van Epps secured victory but with a significantly reduced margin compared to previous wins exceeding 20 points. This political development adds to existing uncertainty around US fiscal policy direction, keeping major USD pairs in consolidation mode. EUR/USD trades near 1.0800, while USD/JPY hovers around 150.00 as traders await clearer policy signals from Washington. The narrowing political margins could complicate future fiscal legislation, potentially affecting dollar strength if gridlock concerns intensify. Market participants are monitoring whether this trend continues in upcoming elections, which could influence Fed policy expectations and Treasury yield dynamics. Near-term, the DXY index finds support at 104.50 with resistance at 105.20, suggesting continued sideways action until more decisive political or economic catalysts emerge.
EURUSD
USDJPY
Sentiment:
Negative
Source: Finnhub
Crude oil advanced 1.15% ($0.68) to settle at $58.64, with the session ranging between $58.28 and $59.67. The rally was primarily driven by optimism surrounding potential U.S.-brokered peace negotiations involving Russia, with reports indicating Envoy Witkopf and Jared Kushner's involvement in diplomatic efforts. This development has significant implications for commodity-linked currencies, particularly CAD/USD and USD/RUB, as oil price movements directly influence their valuations. The Canadian dollar typically strengthens against the USD when oil prices rise, given Canada's substantial energy exports. Similarly, the Russian ruble could see support if geopolitical tensions ease. Traders should monitor the 60.00 psychological resistance level for crude, as a break above could trigger further commodity currency strength. The peace talks' progress will likely create volatility in energy markets and related forex pairs throughout the week.
USDCAD
USDRUB
CADJPY
Sentiment:
Positive
Source: Finnhub
USDCAD rallied during Asian and European sessions but faced rejection at the falling 100-hour moving average, reversing gains in North American trading. The pair has declined from session highs near 1.3990 to test the critical swing zone between 1.3968-1.3975. The failed breakout attempt at the 100-hour MA signals persistent selling pressure despite earlier buyer momentum. Technical traders are closely monitoring this swing area as a decisive break below 1.3968 could accelerate losses toward 1.3950 support. Conversely, a successful defense of this zone might encourage another attempt at the 100-hour MA resistance. The Canadian dollar's resilience comes despite broader USD strength, suggesting domestic factors or oil price movements may be supporting CAD. Near-term direction hinges on whether buyers can defend the current swing zone or if sellers push through to target deeper support levels.
USDCAD
Sentiment:
Negative
Source: Finnhub
Growing monetary policy divergence between the Federal Reserve and Bank of Japan continues to dominate global currency markets, creating significant volatility across major pairs. The Fed's hawkish stance contrasts sharply with the BoJ's ultra-loose policy, driving substantial yen weakness and supporting USD strength. This divergence has pushed USDJPY toward multi-month highs while creating ripple effects across other yen crosses. Market participants are increasingly concerned about intervention risks from Japanese authorities as the yen approaches critical psychological levels. The policy gap reflects fundamentally different economic conditions, with US inflation remaining sticky while Japan struggles to maintain its 2% inflation target. Risk sentiment has deteriorated as traders navigate these conflicting central bank trajectories. The divergence theme is expected to persist until either the Fed signals a dovish pivot or the BoJ hints at policy normalization, keeping volatility elevated in yen pairs.
USDJPY
Sentiment:
Positive
Source: Marketaux
GBP/USD maintains bullish momentum near 1.2650, with analysts projecting a sustained rally extending into 2026. The pound has gained 0.5% (65 pips) over the past week, supported by improving UK economic fundamentals and Bank of England hawkish stance. Recent UK GDP data showed 0.6% quarterly growth, exceeding forecasts of 0.4%, while inflation remains elevated at 4.2% year-over-year. The BoE's reluctance to signal rate cuts contrasts sharply with dovish expectations for the Federal Reserve, creating favorable conditions for sterling appreciation. Technical indicators show GBP/USD breaking above the 1.2600 resistance level, with the next target at 1.2750 (August 2023 high). The 50-day moving average at 1.2580 provides immediate support. Long-term projections suggest the pair could reach 1.3000-1.3200 by mid-2026 if UK economic outperformance continues and the Fed maintains an accommodative stance relative to the BoE.
GBPUSD
Sentiment:
Very Positive
Source: Marketaux
USD/JPY advances 0.4% to 151.75 as dollar strength persists ahead of crucial US economic releases. The pair has gained 120 pips from Monday's low, with bulls maintaining control above the 151.50 psychological level. Market positioning reflects expectations for strong US employment data, with consensus forecasting 185,000 new jobs and unemployment steady at 4.1%. The US Dollar Index (DXY) climbed 0.3% to 106.20, supporting broad dollar appreciation. Japanese yen weakness continues despite Bank of Japan officials' verbal warnings about excessive currency moves. Technical analysis shows immediate resistance at 152.00 (November high), while support sits at 151.20 (20-day moving average). A break above 152.00 could accelerate gains toward 152.50-153.00 zone. Traders remain cautious of potential BoJ intervention if the pair approaches 155.00, though current momentum favors continued dollar strength against the yen.
USDJPY
Sentiment:
Very Positive
Source: Marketaux
EUR/USD faces renewed selling pressure as deteriorating risk sentiment, evidenced by FTSE 100 weakness, supports safe-haven dollar demand. The pair has declined 0.2% in early European trading, testing key technical levels as equity market concerns mount. The FTSE 100's pullback from recent highs reflects growing investor caution, benefiting the US dollar at the expense of risk-sensitive currencies. EUR/USD technical analysis shows immediate support at 1.0520, with the 50-day moving average providing additional backing. Resistance sits at 1.0580, which capped recent recovery attempts. The US Dollar Index has strengthened 0.3%, approaching the 107.00 psychological level. Traders are positioning defensively ahead of this week's European economic data releases and ongoing concerns about growth momentum. A break below 1.0520 could accelerate EUR/USD losses toward 1.0480, while improved risk appetite might allow a recovery toward 1.0580 resistance.
EURUSD
Sentiment:
Negative
Source: Marketaux
USD/JPY retreats 0.6% to 150.85 as traders position for deeper correction amid shifting monetary policy expectations. The pair has declined 180 pips from last week's 152.65 peak, with selling pressure intensifying below the 151.50 support level. Bank of Japan officials increasingly signal readiness to normalize policy, with Deputy Governor Uchida suggesting potential rate hikes if inflation remains above target. Meanwhile, Federal Reserve members hint at possible pause in rate hikes amid cooling US economic data. S&P 500 futures down 0.8% reflect risk-off sentiment supporting yen safe-haven demand. Technical indicators show bearish divergence on the daily RSI, with immediate support at 150.50 (38.2% Fibonacci retracement). A break below could accelerate declines toward 149.80-150.00 psychological zone. The policy cycle divergence between tightening BoJ and potentially dovish Fed shift creates favorable conditions for sustained USD/JPY weakness.
USDJPY
Sentiment:
Negative
Source: Marketaux
