|Day's range||112.09 - 112.564|
|52-week range||104.6670 - 114.7250|
Investing.com - The dollar slipped lower against a currency basket on Monday, having posted its largest weekly gain in a month last week as investors turned their attention to U.S. retail sales figures for June later in the session.
Investing.com - The dollar was holding steady not far from six-month highs against a basket of the other major currencies on Monday as trade concerns remained in focus following the release of soft Chinese growth data.
The market continued to move lower during the Wednesday’s session reaching down towards the 1.16 level but managed to bounce a little as it witnessed some buying interest around the area. If the market further breaks from here, the next major support will be at 1.15 level. There are a lot of political developments coming out of Europe and also the trade wars are building pressure on the market and hammering the Euro. A break above 1.17 level could bring some amount of stability to the market. …Read MoreGBP/USD
New Zealand will be releasing its quarterly CPI later tonight. Forecasts point to a 0.5% increase in inflation during the second quarter. The New Zealand Dollar gained 0.07% on Monday morning, trading at 0.6772.
On Monday, the USD/JPY is going to continue to be sensitive to U.S. Treasury yields and appetite for risk. The Forex pair could continue to climb if tensions rise due to increasing concerns over the trade dispute between the United States and China. This is because investors are treating the dollar like a safe haven asset. Trading is light early Monday because of a bank holiday in Japan. At 1230 GMT, the U.S. is scheduled to release reports on Core Retail Sales, Retail Sales and Empire State Manufacturing Index. At 1400 GMT, Look for a report on Business Inventories.
Investing.com - Investors will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.
Investors will continue to focus on demand for risky assets and the U.S. economic data’s influence on Treasury yields and the chances of additional rate hikes from the Fed. There are no major reports from Japan this week. This means that traders will be watching the U.S. data closely. Key reports include U.S. Core Retail Sales and Retail Sales, and Building Permits. Fed Chairman Jerome Powell is also scheduled to speak before Congress on Tuesday and Wednesday.
There were no other major releases last week so the price action in the Australian Dollar, New Zealand Dollar and Japanese Yen was primarily influenced by the U.S. producer and consumer inflation data as well as the consumer confidence report. Traders reacted to these reports because they could help influence the Fed’s interest rate decisions later this year.
The US dollar has rallied significantly during the trading week, breaking above the ¥111 level, an area that has been very important over the last couple of months.
The British pound rallied significantly during the week, after initially dipping against the Japanese yen. It looks as if the Japanese yen will continue to get pounded, mainly because it is obvious that with the inverting yield curve, the Bank of Japan will not be tightening monetary policy anytime soon.
The US dollar has turned sideways overall during the day on Friday, as we hover above the vitally important ¥112.50 level. This was a target for me previously, and I expect to see a lot of digestion of the gains in this area.
The British pound initially fell during the day on Friday, breaking down towards the ¥147.50 level before turning around and showing signs of life. The market looks as if it is trying to go higher though, as the Americans, board.
Investing.com – The dollar retreated from a two-week high against its rivals Friday, pressured by a rebound in the pound from an 11-day low.
The market further dipped lower during the Thursday’s session testing the 1.1650 level, an area which has been a support more than once. The reaction in the market is due to the details in the ECB meeting minutes. Going ahead, the market is likely to hold this level and will also attract buyers interest. If the market further breaks from here, then it will rapidly unwind towards the 1.16 level. …Read MoreGBP/USD
Investing.com – Dollar rose on Friday, trading near a 10-day peak after U.S. consumer prices data on Thursday showed a build-up of inflation pressure that would allow the Fed to raise rates as many as four times this year.
The US dollar has rallied significantly during the day on Thursday, reaching towards the ¥112.50 level, an area that we have been discussing for some time. This is an area that I think causes quite a bit of resistance, and the fact that we are overbought right now should not be overlooked.
The British pound continue to climb against the Japanese yen during trading on Thursday, as the Japanese yen was hammered by several currencies around the world. It looks as if we have reached the ¥140.50 level, an area that has been important at one point. However, I think that we more than likely will continue to see buyers coming in on dips as they represent value.
Investing.com – The dollar was roughly flat against its rivals Thursday, as U.S. economic data showed the pace of consumer prices was subdued last month, but downside was limited by a slump in the yen amid easing trade-war concerns.
Investing.com - The dollar was holding steady at one-and-a-half week highs against a currency basket on Thursday after data showing that U.S. inflation hit a six year high in June, underpinning expectations for two more rate hikes by the Federal Reserve this year.
USDCAD’s bounce off the three-month old ascending trend-line presently struggles with 1.3200-1.3210 horizontal-region in order to justify its strength in targeting the 1.3260 and the 1.3340 resistances. In case the pair manage to extend its recovery beyond 1.3340 on a daily closing basis, the 1.3385 and the 1.3470, comprising 61.8% FE can please the Bulls. On the contrary, the 1.3130-20 is likely immediate support for the pair to test during its pullback before revisiting the 1.3060 TL figure. Assuming that the quote keep declining beneath the 1.3060, the 50-day SMA level of 1. ...
The Fed’s key weapon to avoid runaway inflation is its ability to raise interest rates as aggressively as it takes to prevent inflation from overheating the economy. The trick is to avoid raising too fast to kill economic growth. At this time, the market is pricing in at least two more rate hikes this year. Today’s catalyst will be a report on U.S. consumer inflation, due to be released at 1230 GMT.
Investing.com - The dollar rose to fresh six month highs against the yen on Thursday and was steady against a currency basket as solid gains in the latest U.S. inflation report reinforced expectations for two additional rate hikes by the Federal Reserve this year.
Silver tries to create a double bottom formation but for this, we need to see the price closing above the resistance on the 16.15 USD/oz. That would also create another hammer on the daily weekly chart.
The market in the short term is likely to continue volatile as confusion relating to the rate hike by ECB remains. The pair had a choppy session during the yesterday’s session, initially trying to rally during the day but found enough resistance to turn around and fall towards the 1.3225 level.