Canadian canola futures edged higher on Friday, boosted by strong U.S. soybean prices and firmer global vegetable oil markets. Factors such as supply concerns in South America, rising palm and sunflower oil prices, and a weaker Canadian dollar contributed to increased export competitiveness and bullish market sentiment.
AUD/USD slips below the 100-hour moving average, trading near 0.6555 amid stronger US Dollar demand and softer Aussie data. Key support at 0.6550 tested as risk aversion rises and commodity prices weaken. Watch resistance at 0.6610 and 0.6640 for potential rebounds. #FX #AUDUSD
Weekly Forex Forecast (July 28 – August 1, 2025) by Justin Bennett on Daily Price Action highlights key technical setups and macro drivers for DXY, EURUSD, GBPUSD, USDCHF, and XAUUSD. Watch DXY testing resistance near 107, EURUSD pushing lower within its bearish channel, and GBPUSD navigating strong support and resistance zones ahead of major central bank events. Traders should prepare for volatility and watch critical break or rejection points shaping next moves.
The US dollar surged to 106.32 amid rising global market volatility as investors sought safe-haven assets. Fed officials emphasized keeping rates elevated longer due to persistent inflation, pushing markets to price rate hikes into 2025. Emerging market currencies fell sharply under pressure from stronger US yields, while gold prices declined. Upcoming US labor data and earnings will be closely watched for further policy signals.
USD/JPY recovers from session lows, trading near 147.61 amid late U.S. dollar bounce supported by rising Treasury yields and strong economic data. Market eyes Fed’s “higher for longer” rate outlook as mixed signals keep volatility elevated. Full analysis from FXDailyReport.com.
Canola futures edged higher on Friday, supported by strong soybean gains, rising crude oil prices boosting biodiesel demand, and a weaker Canadian dollar enhancing export competitiveness. Technical buying near support levels added momentum amid steady market conditions for oilseeds.
AUD/USD slips below the 100-hour moving average, trading near 0.6555 as bearish momentum builds. Key support to watch at 0.6530 and 0.6500. Market sentiment shifts amid mixed Australian data and broad USD strength. Technical indicators suggest continued downside risk in the near term. Analysis by Michael Thomson, FXDailyReport.com.
Weekly Forex Forecast (July 28 – August 1, 2025) by Justin Bennett at Daily Price Action highlights key setups:
– DXY consolidates near 105–106.5; Fed meeting and GDP release may trigger breakout
– EUR/USD bound between 1.0730 support and 1.0880 resistance; Eurozone inflation and ECB comments to drive moves
– GBP/USD faces resistance below 1.2900 with support near 1.2650; unclear directional bias amid trendline congestion
– USD/CHF eyes 0.8900 resistance and 0.8800 support ahead of Swiss data
– XAU/USD (gold) holds near $1,940 amid USD strength and mixed risk sentiment
Traders should watch technical inflection points and macro catalysts carefully as summer liquidity thins.
EUR/USD is consolidating below 1.0860 as traders await the ECB rate decision. Lack of bullish momentum and strong USD data point to potential downside risks. Market focus remains on ECB guidance and US economic strength shaping near-term moves. #Forex #EURUSD
USD/JPY bounces back to 147.61 after earlier dips amid mixed US economic data and Fed policy uncertainty. Rising Treasury yields and cautious risk appetite support the dollar, while traders eye key resistance near 148.00 for the next move. Read full analysis by Jonathan Prop on FXDailyReport.com.
