Canadian Dollar faces pressure as Canada reports weaker-than-expected GDP, while Trump’s tariff threats and robust U.S. economic data boost the USD. Trade tensions and softer domestic growth weigh on the loonie, driving USD/CAD higher amid shifting investor sentiment.
AUD/USD is testing its key 200-day moving average resistance around 0.6600. A decisive break above could signal a bullish trend reversal, while failure to hold may resume the recent bearish momentum. Traders are closely watching this pivotal technical level for clues on future direction. Analysis by Adam Button, ForexLive/TradingView.
GBP/USD has tumbled below the key 1.3307 support level amid a mix of factors. Diverging central bank policies—with the Fed tightening while the Bank of England remains cautious—slowing UK economic growth, a broad US dollar rally, and renewed Brexit-related political uncertainties are all weighing on Sterling. Traders should watch upcoming UK data and BoE signals for clues on sterling’s next move.
EUR/USD shows signs of a corrective wave pattern unfolding, with wave B stalling near key resistance around 1.10. Elliott Wave analysis points to a possible bearish wave C ahead. Traders should watch Fibonacci confluences and momentum indicators for confirmation as macro factors remain in flux.
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AUD/USD continues to face firm resistance near the 0.6850–0.6900 zone, rejecting rallies despite modest recovery attempts. Technical patterns and macro factors—from RBA policy to commodity swings—suggest the Aussie may struggle to sustain gains in the near term. Watch 0.6680 and 0.6600 for critical support levels as downside risks persist. #Forex #AUDUSD
GBP/USD tumbles below key 1.3307 support as a stronger US dollar and weaker UK data weigh heavily. Technical indicators signal further downside risk, with 1.3200 and 1.3150 in focus. Market eyes Fed policy and UK economic outlook for next moves. #Forex #GBPUSD
EUR/USD plunged sharply after robust US Q2 GDP growth and hawkish Fed remarks from Jerome Powell signaled prolonged elevated interest rates. The strong dollar reflects investor confidence in US economic resilience and expectations of sustained monetary tightening, putting pressure on the euro amid sluggish Eurozone data.
The Bank of Japan raises inflation forecast to 2.4% for fiscal 2024 but keeps rates unchanged at -0.1%. Despite higher inflation, the yen weakens past 150 USD/JPY amid no immediate rate hike signals. Markets watch closely for next BoJ policy moves. #BoJ #Yen #Inflation
