The US has unveiled new tariffs coming into effect on 7 August. The base rate for most countries has remained at 10% but other trading partners (like Canada, Switzerland and New Zealand) are hit with tariffs of up to 41%.
Bullish above $3,342, and bearish below $3,335.5. See where to take partial profits, according the to professional trading methodology of the tradeCompass
The EUR/JPY cross trades with mild losses near 172.00 during the early European session on Friday. The Euro (EUR) softens against the Japanese Yen (JPY) amid the tariff uncertainty surrounding the US-EU trade deal.
Silver (XAG/USD) struggles to capitalize on the overnight modest rebound from the $36.20 area, or a nearly four-week low, and trades with a negative bias during the Asian session on Friday.
The EUR/USD recovered some ground on Thursday, up a modest 0.10% after data from the United States (US) revealed a strong economy, justifying the Federal Reserve’s reluctance to reduce rates, as witnessed on Wednesday. AT the time of writing, the pair trades at 1.1417, virtually unchanged.
AUDUSD re-tests its 100-day moving average, a key technical level that could determine the next trend direction. Sellers are gaining control, with downside targets to watch for possible further bearish momentum.
The GBP/USD posted moderate losses during the North American session on Thursday after the Federal Reserve (Fed) held rates on Wednesday and failed to provide forward guidance for the September meeting. This, along with solid US jobs data and an uptick in inflation, boosted the Dollar.
Copper prices drop sharply after President Trump imposes 50% tariffs on semi-finished copper products and copper-intensive derivatives, excluding refined copper.
For a brief period this morning, market commentators mused that the BoJ could announce the next rate hike of the cycle as soon as October. That conclusion was drawn from what appeared to be a slightly more hawkish then expected outcome to today’s BoJ policy meeting.
Gold (XAU/USD) rebounds sharply on Thursday after falling to a one-month low of $3,268 on Wednesday, pressured by stronger-than-expected US data and the Federal Reserve’s (Fed) decision to keep interest rates unchanged.
The Euro (EUR) is up a modest 0.3% against the US Dollar (USD) and outperforming most of the G10 currencies as we head into Thursday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Instead of continuing to rally, US Dollar (USD) is more likely to consolidate between 7.1920 and 7.2150 against Chinese Yuan (CNH). In the longer run, sharp rally appears excessive, but there is a chance for USD to rise further to 7.2250, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
There is a chance for NZD to test 0.5885 before stabilization can be expected; the next major support at 0.5845 is unlikely to come into view. In the longer run, NZD is expected to decline further to 0.5885, potentially reaching 0.5845, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Japanese Yen (JPY) weakened after BoJ Governor Ueda struck a dovish tone, signaling patience in policy normalization and suggesting officials are comfortable with the currency’s current softness, even as global markets brace for a potential USD/JPY retest of March highs, TDS' Macro Strategist Al
The Bank of Japan also left interest rates unchanged at its monetary policy meeting, which ended early this morning, Commerzbank's FX analyst Volkmar Baur notes.
Euro (EUR) could test the 1.1380 level; a sustained drop below this level seems unlikely. In the longer run, EUR view remains negative; the next level to watch is 1.1350, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The dollar continued to appreciate in line with our call, as GDP data came in stronger than expected and the Fed gave no hints of bending to Trump’s pressure, ING's FX analyst Francesco Pesole notes.
USD/JPY built on momentum to trade higher. Another round of rebound in USD, following market disappointment with Fed outcome was the latest trigger to fuel the upmove. Pair was last at 149.66, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Dow Jones futures advance ahead of the US market opening on Thursday, trading around 44,800, up by 0.38%, during European hours. Meanwhile, S&P 500 futures are sharply up by 1.07% to near 6,460, and Nasdaq 100 futures appreciate 1.45% to trade near 23,800.
US Dollar (USD) bulls extended another leg up overnight following FOMC/Powell’s press conference, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Eurozone second-quarter growth was marginally better than expected, but at 0.1% QoQ it still proved unsupportive for the euro, even when accounting for the tariff distortions, ING's FX analyst Francesco Pesole notes.
UST yields rose with short-end bonds underperforming after FOMC decision. There was a dovish tilt at the statement but not in Powell’s comments, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Gold extended the losses as we got further hawkish repricing in interest rates expectations on strong US data and less dovish than expected FOMC. What’s next?
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AUD/JPY loses ground for the fourth successive session, trading around 96.10 during the Asian hours on Thursday. The technical analysis of the daily chart shows that the currency cross moves sideways within the rectangular pattern, suggesting a prevailing neutral sentiment.
Gold price tumbled over 1.50% on Wednesday after the Federal Reserve, decided to hold rates unchanged, on a 9-2 split vote. Fed Chair Jerome Powell's leaning hawkish at the press conference, alongside strong Gross Domestic Product (GDP) figures for Q2 2025, weighed Bullion prices.
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