Roughly 5.1% of daily trades. Nicknamed “Aussie,” its value is tied to Australian commodity exports like iron ore and coal.
Dow Jones falls sharply after PCE inflation data surprises to the upside, fueling concerns the Fed may keep interest rates higher for longer. Elevated core inflation measures and persistent price pressures weigh on equities and push Treasury yields to multi-week highs. Investors brace for a more cautious monetary policy outlook.
Weekly Forex Analysis: EUR/USD, GBP/USD, AUD/USD, and more
The dollar remains supported as US inflation surprises to the upside, fueling expectations of a sustained Fed tightening cycle. EUR/USD struggles amid softer Eurozone data and ECB’s cautious stance, testing support near 1.0650. GBP/USD contends with persistent UK inflation and BoE’s tightening pause, eyeing the 1.2200 zone. AUD/USD benefits from resilient commodity prices but faces RBA’s balanced outlook, hovering around 0.6650. Traders should watch central bank signals and economic releases closely this week to identify potential breakout opportunities. Stay tuned for detailed trade setups and risk management strategies. #Forex #TradingAnalysis #EURUSD #GBPUSD #AUDUSD
Weekly Forex Analysis by Haresh Menghani: EUR/USD faces downward pressure amid strong US data and cautious ECB outlook, with support near 1.0650 and resistance around 1.0800. GBP/USD remains capped due to UK growth concerns and BoE policy uncertainty. AUD/USD shows resilience supported by commodity prices but remains sensitive to global risk sentiment. Stay tuned for detailed technical insights and key economic releases shaping these pairs in the coming days.
Weekly Forex Analysis: EUR/USD faces resistance near 1.0940 with downside risk below 1.0720 amid cautious momentum and ECB-US policy divergence. GBP/USD remains sensitive to UK data and US trends, while AUD/USD contends with global growth concerns. USD volatility persists as markets digest Fed outlook and inflation updates. Comprehensive insights from FXStreet, DailyFX, and Investing.com highlight a balanced but cautious outlook for major USD pairs this week.
Weekly Forex Analysis: As June 2024 progresses, EUR/USD remains subdued despite ECB’s rate cut and dovish tone, confined within a sideways range near key technical levels. GBP/USD and AUD/USD face pressures amid mixed UK data and commodity price shifts. US economic releases and central bank guidance will be crucial in setting near-term trends across major pairs. Traders should watch breakout levels around 1.09 for EUR/USD and 1.25 for GBP/USD, with risk sentiment and geopolitical developments influencing market dynamics.
Gold shows strong buy potential in mid-2024, according to Eren Sengezer’s FXStreet analysis. Supported by resilient price action above $2000, expectations of Fed rate cuts, persistent inflation, and ongoing geopolitical risks, gold remains a key safe-haven asset. Strategic investors should consider increasing exposure as market volatility grows.
AUD/USD extends gains to a fourth consecutive day, driven by softer US data, easing Fed rate hike expectations, and improving risk sentiment. Australian economic resilience and positive commodity outlook add support as the pair tests key technical resistance. Traders will watch upcoming data and Fed signals for next directional cues.
AUD/USD extends its four-day winning streak amid upbeat Australian economic data, softer US dollar, steady commodity prices, and positive global risk sentiment. Strong retail sales, labor market resilience, and favorable China signals continue to underpin the Aussie’s advance.
#AUDUSD Weekly Analysis: The pair remains in a consolidation phase, trading within a defined range between 0.6570 support and 0.6713 resistance. Technical indicators signal indecision with momentum and moving averages flat, forming a potential triangle or rectangle pattern. A decisive breakout above resistance or below support will likely set the next directional trend. Fundamental factors such as tempered Australian inflation and steady employment continue to weigh on the pair’s upward momentum. Stay tuned for developments as market forces seek a clear catalyst. Insights based on ActionForex.com Team and additional sources.
AUD/USD recovers from earlier lows, trading near 0.6542 as buyers step in amid consolidation. Technical signals suggest resistance around 0.6560-0.6580, with support near 0.6500. Market watchers await fresh Australian employment and inflation data alongside US Fed cues to gauge next directional moves.
