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USDCAD backpedals after failed ceiling break; 200-hour MA retest in focus
USDCAD backpedals after failed ceiling break; 200-hour MA retest in focus
Buyers failed to hold the breakout above 1.3759; focus shifts to 200-hour MA and 38.2% retracement for short-term directional control
CAD
USD
USDCAD backpedals after failed ceiling break; 200-hour MA retest in focus
USDCAD backpedals after failed ceiling break; 200-hour MA retest in focus
Buyers failed to hold the breakout above 1.3759; focus shifts to 200-hour MA and 38.2% retracement for short-term directional control
CAD
USD
USDCHF boxed in: key swing zone and moving averages define the battle lines
USDCHF boxed in: key swing zone and moving averages define the battle lines
Price action trapped between the 100- and 200-bar MAs on the 4-hour chart, with 0.7986–0.7994 swing area acting as the intraday pivot.
CHF
USD
USDCHF boxed in: key swing zone and moving averages define the battle lines
USDCHF boxed in: key swing zone and moving averages define the battle lines
Price action trapped between the 100- and 200-bar MAs on the 4-hour chart, with 0.7986–0.7994 swing area acting as the intraday pivot.
CHF
USD
Gold trades in a range amid improved sentiment and mixed rate expectations
Gold trades in a range amid improved sentiment and mixed rate expectations
Gold (XAU/USD) is trading higher on Friday as investors remain focused on Fed expectations US economic data. At the time of writing, XAU/USD recovers above $3,350, pushing the price closer toward the upper boundary of a symmetrical triangle pattern.
Gold
XAUUSD
Technical Analysis
Fundamental Analysis
SEO
The USD is lower to start the new trading day and end the week.
The USD is lower to start the new trading day and end the week.
US yields are lower. Stocks marginally higher. In the video I take a technical look at the EURUSD, USDJPY and GBPUSD
Fed
USD
The USD is lower to start the new trading day and end the week.
The USD is lower to start the new trading day and end the week.
US yields are lower. Stocks marginally higher. In the video I take a technical look at the EURUSD, USDJPY and GBPUSD
Fed
USD
USD/CNH: Likely to trade in a range of 7.1740/7.1880 – UOB Group
USD/CNH: Likely to trade in a range of 7.1740/7.1880 – UOB Group
US Dollar (USD) is likely to trade in a range of 7.1740/7.1880. In the longer run, USD is expected to trade in a range between 7.1550 and 7.1920, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
USDCNH
US Dollar steadies after pullback, on track for second weekly advance
US Dollar steadies after pullback, on track for second weekly advance
The US Dollar is steadying after a brief selloff earlier in Friday’s session. The Greenback remains supported by robust US economic data this week, which has lowered the odds of immediate interest rate cuts by the Federal Reserve (Fed).
DollarIndex
SEO
Technical Analysis
Fed
TradeWar
GBP recoverys post CPI/jobs data with fundamental support via spreads – Scotiabank
GBP recoverys post CPI/jobs data with fundamental support via spreads – Scotiabank
The Pound Sterling (GBP) is up a modest 0.2% against US Dollar (USD) as it mildly underperforms its G10 peers heading into Friday’s NA open, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
GBPUSD
Banks
BOE
Technical Analysis
UnitedKingdom
USD/JPY strength has paused for now – UOB Group
USD/JPY strength has paused for now – UOB Group
The current price action appears to be part of a 147.65/148.85 range trading phase. In the longer run, USD strength has paused for now; it is expected to trade in a range of 146.90/149.20, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
USDJPY
Banks
Technical Analysis
EUR up modestly with focus on next week’s ECB – Scotiabank
EUR up modestly with focus on next week’s ECB – Scotiabank
The Euro (EUR) is up 0.3% against the US Dollar (USD) and a mid-performer among the G10 as we head into Friday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
Banks
EURUSD
Technical Analysis
ECB
AUD/USD: Likely to consolidate in a range of 0.6475/0.6535 – UOB Group
AUD/USD: Likely to consolidate in a range of 0.6475/0.6535 – UOB Group
Australian Dollar (AUD) is likely to consolidate in a range of 0.6475/0.6535 against US Dollar (USD). In the longer run, downward momentum has built further, but AUD may consolidate first before attempting to break below 0.6455, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
USD: Was that it? – Commerzbank
USD: Was that it? – Commerzbank
The trade-weighted US Dollar (USD) has been up 1.6% since the beginning of the month. Against the Euro (EUR), it is slightly less, but yesterday it did manage to temporarily reach 1.15 again.
DollarIndex
Banks
Fed
Technical Analysis
EURUSD
Dow Jones futures edge higher on upbeat Netflix’s earnings, Michigan sentiment data eyed
Dow Jones futures edge higher on upbeat Netflix’s earnings, Michigan sentiment data eyed
Dow Jones futures trade marginally higher during the European trading session, extend its winning streak for the third trading day on Friday. United States (US) equities are buoyed by strong second-quarter earnings show from the streaming platform company Netflix.
DowJones
Technical Analysis
Equities
Fed
Nasdaq
GBP/USD: Likely to trade in a higher range of 1.3390/1.3465 – UOB Group
GBP/USD: Likely to trade in a higher range of 1.3390/1.3465 – UOB Group
Further consolidation seems likely; the firmer underlying tone suggests a higher range of 1.3390/1.3465.
GBPUSD
Banks
Technical Analysis
DXY: Signs of exhaustion – OCBC
DXY: Signs of exhaustion – OCBC
US Dollar (USD) was a touch softer this morning on comments from Fed’s Waller. DXY was last at 98.37 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
DollarIndex
Banks
Technical Analysis
USD: Momentum can build – ING
USD: Momentum can build – ING
The dollar index is on track for a second consecutive week of gains, having rallied over 2% since the 1 July low of 96.50.
DollarIndex
Banks
Technical Analysis
Fed
USD/JPY: Upper house election Sunday – OCBC
USD/JPY: Upper house election Sunday – OCBC
Recent polls by Nikkei, Kyodo, Asahi shows LDP-Komeito coalition is at risk of losing Upper House election. USD/JPY last seen at 148.58, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USDJPY
Banks
Technical Analysis
Japan
BOJ
JPY: Sunday’s vote could send USD/JPY above 150 – ING
JPY: Sunday’s vote could send USD/JPY above 150 – ING
Japan’s upper house election on Sunday has turned into a pivotal event for JGBs and the Japanese Yen (JPY), ING’s FX analyst Francesco Pesole notes.
USDJPY
Technical Analysis
Banks
Japan
BOJ
AUD/USD: Pullback found support at 50DMA – OCBC
AUD/USD: Pullback found support at 50DMA – OCBC
Australian Dollar (AUD) managed to claw back earlier losses as USD backpedalled on comments from Fed’s Waller. AUD was last at 0.6518, OCBC's FX analysts Frances Cheung and Christopher Wong note.
AUDUSD
Technical Analysis
Banks
EUR/USD: Likely to trade in a sideways range of 1.1585/1.1655 – UOB Group
EUR/USD: Likely to trade in a sideways range of 1.1585/1.1655 – UOB Group
Slowing momentum suggests that instead of continuing to weaken, Euro (EUR) is more likely to trade in a sideways range of 1.1585/1.1655 against US Dollars (USD).
Technical Analysis
EURUSD
Banks
EUR: EU Commission budget likely to be watered down – ING
EUR: EU Commission budget likely to be watered down – ING
The EU Commission's EUR 2tn budget proposal has continued to face harsh criticism from Germany, ING’s FX analyst Francesco Pesole notes.
EURUSD
Banks
Technical Analysis
EUR/JPY Price Forecast: Bullish outlook remains in play, overbought RSI warrants caution for bulls
EUR/JPY Price Forecast: Bullish outlook remains in play, overbought RSI warrants caution for bulls
The EUR/JPY cross gathers strength to around 172.80 during the early Asian session on Friday. The Japanese Yen (JPY) weakens against the Euro (EUR) amid reduced Bank of Japan (BoJ) rate hike bets. 
EURJPY
Crosses
Technical Analysis
Bullish
Silver Price Forecast: XAG/USD edges above $38.00 as bulls await catalyst
Silver Price Forecast: XAG/USD edges above $38.00 as bulls await catalyst
Silver price advanced on Thursday, 0.55% as the Greenback posted solid gains during the North American session, even though Wall Street finished the session with gains.
Technical Analysis
XAGUSD
Silver
Metals
EUR/USD tumbles as upbeat US prints, evaporate Fed cuts hopes
EUR/USD tumbles as upbeat US prints, evaporate Fed cuts hopes
EUR/USD tumbles during the North American session, down 0.38% following the release of economic data from the United States (US), which triggered a reaction by investors, who trimmed their bets that the Federal Reserve (Fed) will cut interest rates.
EURUSD
Majors
Technical Analysis
Fundamental Analysis
Currencies
GBP/USD Price Forecast: Sellers dominate but a Doji candle hints at indecision
GBP/USD Price Forecast: Sellers dominate but a Doji candle hints at indecision
GBP/USD is at a technical inflection point, a battleground between weakening bullish momentum and growing bearish pressure.
GBPUSD
Technical Analysis
Currencies
ChartPatterns
Gold drops as hot US data supports Fed hold outlook
Gold drops as hot US data supports Fed hold outlook
Gold price dropped by over 0.26% during the North American session on Thursday, trimming some of its earlier losses of nearly 1%.
Gold
XAUUSD
Fundamental Analysis
Technical Analysis
SEO
GBP/JPY rises on weak Japanese trade data, CPI in focus
GBP/JPY rises on weak Japanese trade data, CPI in focus
The British Pound (GBP) gains positive traction against the Japanese Yen (JPY) on Thursday as sentiment surrounding the Yen remains fragile following Japan's disappointing Trade Balance data.
GBPJPY
Crosses
Fundamental Analysis
Technical Analysis
AUD/USD slides as weak Australian jobs data meets robust US retail sales
AUD/USD slides as weak Australian jobs data meets robust US retail sales
The Australian Dollar (AUD) is weakening against the US Dollar (USD) on Thursday after employment data from Australia reflected a slowdown in the labour market. Meanwhile, US Retail Sales data surprised to the upside, reflecting an increase in consumer spending in June.
AUDUSD
Fundamental Analysis
Technical Analysis
Macroeconomics
Majors
GBP/USD slips on robust US data as Fed rate cut odds fade
GBP/USD slips on robust US data as Fed rate cut odds fade
GBP/USD drops during the North American session on Thursday. The pair edged down 0.07% following the release of strong US economic data, which boosted the US Dollar (USD) and pushed it to a new July high as it recovers some ground at the beginning of the second half of the month.
GBPUSD
Majors
Technical Analysis
Fundamental Analysis
Currencies
EUR/CHF Price Forecast: Euro stabilizes above 0.9300 as bears fails to trigger a breakdown
EUR/CHF Price Forecast: Euro stabilizes above 0.9300 as bears fails to trigger a breakdown
EUR/CHF is holding firm above 0.9300 on Thursday, with the pair attempting to rebound from the lower boundary of its multi-week consolidation zone.
EURCHF
Technical Analysis
USDCAD bulls lose steam near major resistance. What next?
USDCAD bulls lose steam near major resistance. What next?
Pair pulls back after testing key resistance at 1.3777. A break below 1.3749 could see more corrective action
CAD
USD
USDCAD bulls lose steam near major resistance. What next?
USDCAD bulls lose steam near major resistance. What next?
Pair pulls back after testing key resistance at 1.3777. A break below 1.3749 could see more corrective action
CAD
USD
USD/JPY climbs as resilient Retail Sales beats estimates with Fed comments in focus
USD/JPY climbs as resilient Retail Sales beats estimates with Fed comments in focus
The US Dollar (USD) is gaining renewed momentum against the Japanese Yen (JPY), with central bank divergence continuing to serve as a key driver for the USD/JPY pair.
USDJPY
Majors
Macroeconomics
Fundamental Analysis
Technical Analysis
USDCHF buyers try to seize control, but key hurdles remain
USDCHF buyers try to seize control, but key hurdles remain
Break above swing zone gives bulls a shot, but 200-bar MA and 38.2% retracement still stand in the way
CHF
USD
USDCHF buyers try to seize control, but key hurdles remain
USDCHF buyers try to seize control, but key hurdles remain
Break above swing zone gives bulls a shot, but 200-bar MA and 38.2% retracement still stand in the way
CHF
USD
Silver Price Forecast: XAG/USD drifts lower after strong US Retail Sales data
Silver Price Forecast: XAG/USD drifts lower after strong US Retail Sales data
Silver (XAG/USD) is edging lower on Thursday, trading around $37.57 after logging a modest gain of nearly 0.56% on Wednesday. The metal remains elevated after marking a 14-year high of $39.13 earlier this week, but momentum has cooled as the price consolidates just below that peak.
Silver
XAGUSD
Technical Analysis
Broker Rebates