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USD/CAD is building upside momentum, approaching key resistance at the 200-day moving average near 1.3550. Bullish signals from moving averages and MACD align with a stronger US dollar and weaker oil prices weighing on CAD. Watch for potential tests of the 1.3566–1.3570 zone and 1.3600 psychological level, while support holds near 1.3476 and 1.3435. Market watchers should stay alert to Fed policy cues and oil market dynamics as they could steer the next move.
Original analysis by Greg Michalowski, InvestingLive.
AUD/USD remains steady near 0.6500 ahead of Australia’s May trade balance data, as traders adopt a wait-and-see approach. Market focus centers on export-import dynamics amid stable commodity demand and global economic uncertainties. US economic resilience and risk sentiment also shape the pair’s subdued moves. The upcoming release could provide a decisive catalyst for direction.
Pound Sterling faces pressure amid weakening UK labour market data, signaling potential slowed wage growth and reduced hiring. Meanwhile, the US Dollar stays supported by safe-haven demand, though risks of shifting Fed policy and stretched valuations suggest volatility ahead. Traders should watch GBP/USD closely as the economic landscape evolves.
— Based on Timothy Maxwell, Currency News UK
Eurozone manufacturing slips into contraction as factory orders fall sharply in June. Weak demand, rising inventories, and global uncertainties weigh on growth prospects for Germany, France, and others. Inflation eases but challenges remain for economic recovery. #Eurozone #Manufacturing #Economy
UOB Group analysts consider the recent sharp USD/JPY decline as excessive, noting no fundamental shifts to justify the move. Technical indicators point to an oversold condition with potential stabilization ahead unless new catalysts emerge. Caution advised amid market volatility. #Forex #USDJPY
USD/CAD bullish momentum builds as the pair approaches the critical 200-day SMA near 1.4000. Supported by rising US bond yields and weaker oil prices, technical indicators signal a potential breakout. Watch upcoming US and Canadian economic data for near-term direction.
AUD/USD remains steady as traders await the latest Australian trade balance data. Market sentiment is cautious amid mixed signals from Australian exports, global risk factors, and US Federal Reserve policy. The pair trades within key technical levels, with near-term direction hinging on the new data release. Original analysis by FXStreet’s Aharon Abadi.
GBP/USD nears 1.35 as UK inflation stays elevated and the Bank of England maintains a hawkish stance. Meanwhile, the US dollar weakens amid slowing growth and expectations of Fed easing. Traders should watch upcoming inflation data and central bank signals for the next major move. #Forex #GBPUSD #Inflation
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