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AUD/USD extends its rally as markets increasingly price in US Federal Reserve rate cuts. Slowing US data and easing inflation fuel expectations of a pivot, supporting the Aussie amid diverging RBA policy and rising commodity prices. Traders now see over 90% chance of a Fed cut by September.
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EUR/USD hovers near 1.0900 with low volatility as traders await clearer signals from the ECB and Fed. Key resistance at 1.1040 and support around 1.0850 suggest a consolidation phase. Market indecision persists amid summer lull and cautious central bank outlooks. #Forex #EURUSD #Trading
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AUD/USD extends gains as markets price in potential Federal Reserve rate cuts later in 2024. Softer U.S. inflation data and dovish Fed signals boost the Aussie, with the pair breaking key resistance and supported by improving global risk appetite. Traders eye 0.6730 and beyond amid sustained bullish momentum.
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USD/CAD finds itself at a critical juncture as rising oil prices bolster the Canadian dollar, while growing Fed caution tempers the U.S. dollar’s strength. Traders should watch key economic data and central bank signals closely for potential shifts in momentum.
Adapted from analysis by Zhiqiang Liu, Futunn News.
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