USD/JPY has declined 0.5% to 149.20 as disappointing US economic data weighs on dollar sentiment. The US ISM Services PMI dropped to a weaker-than-expected reading, compounding concerns after Friday's poor labor market report showed unemployment rising to 4.3%. This string of weak data has traders pricing in more aggressive Fed rate cuts, with markets now expecting 125 basis points of easing by year-end. The timing is particularly challenging for USD bulls as risk sentiment deteriorates globally. Technical indicators show USD/JPY breaking below the 150.00 psychological support, with next support at 148.50 (50-day moving average). The yen is finding additional support from expectations of further BOJ rate hikes. A sustained break below 148.50 could accelerate selling toward 147.00, while any recovery faces strong resistance at 150.50.
USDJPY
Sentiment:
Very Negative
Source: Finnhub
NZD/USD remains under selling pressure near 0.5950, down 0.5% on the day, following disappointing New Zealand labor market data that reinforced expectations for more aggressive RBNZ rate cuts. The unemployment rate jumped to 4.3% in Q2 from 4.0%, exceeding market forecasts of 4.2%, while employment growth stagnated at 0.4% quarter-on-quarter. Wage growth also moderated, with the Labor Cost Index rising just 3.3% year-on-year, down from 3.4% previously. These weak indicators strengthen the case for the Reserve Bank of New Zealand to accelerate its easing cycle, with markets now pricing in 50 basis points of cuts by year-end. Technical analysis shows NZD/USD testing support at 0.5940, with a break below potentially exposing 0.5900. Resistance sits at 0.6000, which has capped recent recovery attempts.
NZDUSD
Sentiment:
Very Negative
Source: Marketaux
The New Zealand dollar emerged as the strongest performer during Wednesday's Asian session, with NZD/USD advancing 0.5% to 0.6250 as the US dollar retreated broadly. The greenback's weakness materialized across major pairs, with DXY (Dollar Index) falling 0.3% to 105.20, marking its lowest level in two weeks. Risk-on sentiment prevailed throughout Asian markets, benefiting commodity currencies with the Kiwi leading gains followed by AUD/USD up 0.4% to 0.6580. The dollar's pullback reflects growing speculation that the Federal Reserve may pause its tightening cycle amid mixed economic signals. Technical analysis shows NZD/USD breaking above the key 0.6230 resistance level, opening the path toward 0.6280. Support now sits at 0.6200, with momentum indicators suggesting further upside potential if risk appetite remains supportive.
NZDUSD
AUDUSD
DXY
Sentiment:
Very Positive
Source: Marketaux
USD/JPY remains under pressure at 149.35 following comments from Japan's ruling LDP member Taro Kono advocating for higher interest rates to strengthen the yen. Kono, who has consistently pushed for monetary policy normalization, reiterated his stance that the Bank of Japan needs to raise rates to bolster the currency's value. His comments add to growing expectations that the BOJ will continue its gradual tightening cycle, having already exited negative rates earlier this year. Markets are pricing a 60% probability of another 25 basis point hike by December. The policy divergence between an increasingly hawkish BOJ and a potentially dovish Fed is creating a favorable environment for yen strength. USD/JPY faces immediate resistance at 150.00, while support lies at 148.80. A break below could target the 147.50 level as yen bulls gain momentum.
USDJPY
Sentiment:
Negative
Source: Marketaux
NZD/USD and AUD/USD have rallied to session highs following New Zealand's Q2 unemployment data release. The unemployment rate came in at 5.2%, reinforcing market expectations for future RBNZ rate cuts. The kiwi dollar initially surged on the data release, experienced a brief pullback, but quickly returned to test earlier highs. AUD/USD was dragged higher in sympathy with the NZD strength, reflecting the close correlation between the two Oceanic currencies. The labor market data suggests continued economic softening in New Zealand, which paradoxically supported the currency in the short term as traders positioned ahead of potential policy adjustments. Technical momentum remains bullish for both pairs in the near term, with NZD/USD finding support from the employment figures despite their rate-cut implications. Traders should monitor upcoming Australian economic releases for potential divergence between the two currencies.
NZDUSD
AUDUSD
Sentiment:
Positive
Source: Finnhub
NZD/USD has dropped 0.4% to 0.5920 following New Zealand's labor market report showing unemployment rose to 5.2% in Q2, matching RBNZ projections but reinforcing expectations for aggressive monetary easing. The data came in slightly below the 5.3% consensus forecast, yet still represents a significant deterioration from 4.7% in Q1. Markets have now fully priced in a 25 basis point rate cut at the RBNZ's next meeting, with 75 basis points of total easing expected by year-end. The kiwi dollar faces additional pressure from weak commodity prices and China growth concerns. Technical analysis shows NZD/USD breaking below the 0.5950 support level, with next targets at 0.5880 and 0.5850. Any recovery attempts will likely face resistance at 0.5980. The outlook remains bearish as the RBNZ pivots toward an easing cycle.
NZDUSD
Sentiment:
Very Negative
Source: Marketaux
AUD/USD has gained 0.3% to 0.6485 following a bullish forecast from UBS predicting the pair will reach 0.70 by early 2026. The investment bank expects the Reserve Bank of Australia to cut rates by only 75 basis points through Q1 2026, compared to 100 basis points from the Federal Reserve, creating a narrowing interest rate differential favorable for the Aussie. UBS cites Australia's resilient domestic economy, strong commodity export demand, and the RBA's cautious approach to easing as key supportive factors. Current technical levels show AUD/USD consolidating above 0.6450 support, with immediate resistance at 0.6520. A break above this level could accelerate gains toward 0.6600 and eventually the 0.6700 area. The medium-term outlook appears constructive, though near-term volatility remains tied to US dollar movements and China's economic performance.
AUDUSD
Sentiment:
Very Positive
Source: Marketaux
NZD/USD is trading cautiously near 0.5950 as markets await New Zealand's Q2 employment report, which is expected to show further labor market weakness. Economists forecast unemployment to rise to 4.7% from 4.3% in Q1, marking the sixth consecutive quarterly increase. Annual wage inflation is projected to moderate to 3.4% from 4.5%, potentially reaching levels consistent with the RBNZ's inflation target. The data release could significantly impact the Reserve Bank of New Zealand's monetary policy stance, with markets already pricing in potential rate cuts later this year. Technical indicators show NZD/USD testing support at 0.5940, with resistance at 0.5980. A weaker-than-expected employment report could push the pair toward 0.5900, while any positive surprises might provide temporary relief. Traders should monitor the kiwi's reaction closely, as deteriorating labor conditions could accelerate RBNZ easing expectations and weigh on NZD crosses.
NZDUSD
Sentiment:
Negative
Source: Finnhub
The US Dollar Index advanced 0.16% today, recovering from losses recorded on Friday and Monday as traders engaged in short covering activities. The greenback's rebound is primarily driven by rising US Treasury yields, which are increasing the dollar's yield advantage against major currencies. The move suggests a temporary pause in the recent dollar weakness, with bond market dynamics playing a crucial role in supporting USD strength. Technical indicators show the dollar index finding support near recent lows, while resistance remains at the previous week's highs. The recovery impacts major pairs including EUR/USD, GBP/USD, and USD/JPY, with the euro and pound giving back some recent gains. Traders should monitor Treasury yield movements closely, as sustained higher yields could extend the dollar's recovery, while any reversal in yields might resume the recent downtrend. Near-term market focus remains on upcoming US economic data releases that could influence Federal Reserve policy expectations.
EURUSD
GBPUSD
USDJPY
Sentiment:
Positive
Source: Marketaux
The US dollar declined broadly following disappointing ISM Non-Manufacturing PMI data for July, which came in at 50.1 versus the 51.5 estimate, barely above the contraction threshold. EUR/USD gained 0.2% to 1.0920, while GBP/USD rose to 1.2845. The services sector showed widespread weakness with 7 of 10 components declining, including concerning drops in Employment (46.4, -0.8) and New Orders (50.3, -1.0). However, Prices surged to 69.9 (+2.4), indicating persistent inflationary pressures. The weak services data, combined with deteriorating employment conditions, strengthens the case for Federal Reserve rate cuts in September. Technical indicators suggest USD/JPY could test support at 149.50, while EUR/USD faces resistance at 1.0950. Traders should monitor upcoming US employment data for confirmation of economic softening, which could accelerate dollar weakness across major pairs.
EURUSD
GBPUSD
USDJPY
Sentiment:
Negative
Source: Finnhub
EUR/USD advanced 0.35% to 1.0935 as global markets embraced risk-on sentiment driven by growing expectations of coordinated rate cuts from both the Federal Reserve and European Central Bank. The dollar index (DXY) fell 0.4% to 103.20, marking its weakest level in three weeks. Market pricing now reflects a 75% probability of a 25-basis-point Fed cut in September, up from 60% last week, while ECB officials have signaled openness to further easing amid slowing Eurozone growth. Asian and European equity markets rallied 1.2% on average, supporting high-beta currencies. Technical analysis shows EUR/USD breaking above the 50-day moving average at 1.0915, with next resistance at 1.0965. GBP/USD and AUD/USD also benefited, gaining 0.3% and 0.5% respectively. Sustained risk appetite could push EUR/USD toward the psychological 1.1000 level if upcoming economic data confirms the dovish central bank narrative.
EURUSD
GBPUSD
AUDUSD
Sentiment:
Positive
Source: Marketaux
EUR/USD jumped 0.6% to 1.0975, leading a broad dollar selloff as the greenback recorded its worst start to a year since the 1970s. The dollar index has plummeted 4.2% year-to-date, with EUR/USD gaining over 500 pips from January lows. European corporate earnings face headwinds from the stronger euro, with companies like Fresenius Medical Care and ASML warning of currency impacts. Market analysts estimate every 1% euro appreciation reduces European export competitiveness by 0.5-0.7%. Technical indicators show EUR/USD approaching key resistance at 1.1000, having broken through the 200-day moving average. The dollar's weakness stems from shifting Fed policy expectations and concerns over US fiscal sustainability. Near-term support for EUR/USD sits at 1.0920, with momentum indicators suggesting continued upside potential if the psychological 1.1000 barrier breaks.
EURUSD
Sentiment:
Very Positive
Source: Marketaux
USD/JPY has retreated 1.2% to test the critical 146.00 support level, pressured by growing divergence between Federal Reserve and Bank of Japan monetary policies. The Fed's increasingly dovish stance, with markets pricing in 75 basis points of rate cuts by year-end, contrasts sharply with the BoJ's hawkish pivot following Governor Ueda's recent comments on potential rate normalization. Technical indicators show the pair breaking below its 50-day moving average at 147.85, with momentum oscillators turning bearish. The 146.00 level represents confluence support from the 200-day moving average and previous resistance-turned-support. A decisive break below could accelerate losses toward 144.50, while any recovery faces strong resistance at 148.00. Traders are closely monitoring upcoming Fed minutes and Japanese wage data for further directional cues on this policy divergence trade.
USDJPY
Sentiment:
Negative
Source: Marketaux
Technical patterns across major forex pairs and Bitcoin suggest significant moves ahead as key support and resistance levels come into focus. USD/JPY continues its downtrend, testing 146.50 support after failing to break above the 148.00 resistance zone, with bearish momentum confirmed by RSI below 40. GBP/USD has bounced from 1.2650 support to trade at 1.2720, with bulls targeting the 1.2800 resistance level amid improving UK economic data. The pair's 20-day moving average at 1.2745 acts as immediate resistance. Meanwhile, BTC/USD consolidates near $29,500, forming a symmetrical triangle pattern with decreasing volume suggesting an imminent breakout. The cryptocurrency's correlation with risk assets continues to influence USD/JPY sentiment. Traders should monitor these critical technical levels for potential breakout opportunities, with stop-loss placement crucial given elevated volatility across all three instruments.
USDJPY
GBPUSD
BTCUSD
Sentiment:
Neutral
Source: Marketaux
Emerging market currencies face pressure as BRICS nations accelerate discussions on alternative payment systems, with USD/ZAR surging 2.1% to 18.45 amid South African political uncertainty and dollar strength. The rand's weakness stems from concerns over BRICS currency implementation challenges and domestic fiscal pressures. EUR/USD remains stable near 1.0850, supported by better-than-expected Eurozone PMI data showing manufacturing sector improvement to 46.2. USD/CHF dropped 0.4% to 0.8920 as safe-haven flows favored the Swiss franc amid geopolitical tensions. EUR/CHF tested 0.9700 resistance before pulling back to 0.9680, reflecting balanced risk sentiment. The BRICS payment system developments could reshape global currency dynamics, potentially reducing dollar dominance in international trade. Traders are monitoring upcoming BRICS summit announcements while positioning for increased emerging market volatility.
EURUSD
USDCHF
EURCHF
USDZAR
Sentiment:
Negative
Source: Marketaux
The S&P 500's rapid reversal back into its trading channel has confirmed a bear trap formation, potentially triggering risk-on sentiment that could impact forex markets. The technical pattern emerged as shorts were forced to cover positions, creating accelerated bullish momentum in equity markets. This risk-on environment typically weakens safe-haven currencies like JPY and CHF while supporting risk-sensitive pairs. USD/JPY could extend gains above 150.00 if equity strength persists, while AUD/USD and NZD/USD may benefit from improved risk appetite. The psychological impact of trapped bears rushing to cover positions often creates self-reinforcing momentum, as fear of missing out drives additional buying. Traders should monitor correlation between S&P 500 futures and major forex pairs, particularly during Asian and European sessions. Key resistance levels to watch include 150.50 on USD/JPY and 0.6600 on AUD/USD if risk-on sentiment continues.
USDJPY
AUDUSD
NZDUSD
USDCHF
Sentiment:
Positive
Source: Finnhub
The US dollar index fell 0.6% to 103.20 as dovish Federal Reserve communications reinforced expectations for policy easing, with USD/JPY declining 0.8% to 146.30 and EUR/USD advancing 0.5% to 1.0875. Fed officials' recent speeches suggest growing comfort with disinflation progress, with markets now pricing a 65% probability of a September rate cut. The yen strengthened across the board as Bank of Japan officials maintained their hawkish rhetoric, widening the policy divergence theme. EUR/USD benefited from both dollar weakness and improved Eurozone sentiment data, with German IFO business climate rising to 89.3. GBP/USD climbed 0.4% to 1.2750, while USD/CHF dropped to 0.8915 on safe-haven flows. Technical analysis shows USD/JPY approaching crucial 146.00 support, with a break potentially triggering stops toward 144.50. The dollar's broad-based retreat reflects shifting monetary policy expectations globally.
EURUSD
GBPUSD
USDJPY
USDCHF
Sentiment:
Negative
Source: Marketaux
VT Markets' global trading competition has entered its final month, attracting traders worldwide to compete for a share of the $1,000,000 prize pool. The 10-week VT Trading Arena has become one of the year's premier trading events, drawing participants across all experience levels from multiple countries. While not directly impacting forex prices, such large-scale competitions can influence short-term market dynamics as participants potentially increase trading volumes and volatility in major currency pairs. The competition's global reach suggests heightened activity across Asian, European, and American trading sessions. Traders should be aware of potential increased volatility in popular pairs like EUR/USD, GBP/USD, and USD/JPY as competition participants execute strategies. The final weeks typically see more aggressive positioning as traders attempt to secure top rankings, which could create temporary price distortions or enhanced liquidity in certain currency pairs.
EURUSD
GBPUSD
USDJPY
Sentiment:
Neutral
Source: Marketaux
The US dollar index declined 0.4% during Asian trading as Federal Reserve Bank of San Francisco President Mary Daly adopted a more dovish stance, hinting at potential rate cuts as early as September. Her comments suggested the Fed is increasingly concerned about economic growth risks rather than inflation persistence, marking a notable shift from previous hawkish rhetoric. Asian currencies strengthened broadly against the greenback, with USD/JPY dropping 65 pips to 149.20 and AUD/USD gaining 0.5% to 0.6580. Markets are now pricing in a 75% probability of a 25 basis point rate cut at the September FOMC meeting, up from 55% before Daly's remarks. Technical indicators show USD/JPY approaching key support at 149.00, while resistance sits at 150.00. Traders should monitor upcoming US economic data releases, particularly inflation and employment figures, which could either reinforce or challenge the emerging dovish Fed narrative.
USDJPY
AUDUSD
NZDUSD
USDCAD
EURUSD
GBPUSD
Sentiment:
Negative
Source: Marketaux
The US Dollar Index (DXY) declined 0.43% during Monday's session, extending Friday's losses as prominent bond investor Jeffrey Gundlach maintained his forecast for two Federal Reserve rate cuts this year. Speaking on CNBC, the DoubleLine Capital CEO characterized Fed Chair Powell's recent press conference as 'quite hawkish' but noted that two-year Treasury yields are already pricing in rate cuts. Market sentiment shifted following Friday's disappointing US payroll and ISM manufacturing data, which strengthened expectations for potential Fed easing as early as next month. Gundlach also addressed speculation about Powell's tenure, suggesting any resignation would likely trigger an immediate rate cut. The dollar's weakness benefited major pairs, with EUR/USD gaining ground above 1.0850 and GBP/USD pushing toward 1.2750. Traders are closely monitoring upcoming economic releases for further clues on the Fed's policy trajectory, with immediate support for the DXY at 103.50.
EURUSD
GBPUSD
USDJPY
Sentiment:
Negative
Source: Finnhub
