Gold looks set for a rebound as key support around $2,300 holds firm, supported by bullish technical signals and easing inflation pressures. Uncertainty over Fed policy, coupled with geopolitical risks and central bank buying, create a favorable environment for XAU/USD to retest recent highs. Traders should watch $2,365 resistance and Fed signals closely.
Forex markets show mixed reactions to central bank moves amid economic uncertainty. The US dollar holds firm near one-week highs despite softer GDP growth and slightly higher jobless claims, while the euro weakens on ECB hints toward rate cuts as inflation eases. The British pound also stumbles amid slowing UK inflation. Expanded analysis originally from Baystreet.ca.
The Canadian dollar remains under pressure amid a mix of subdued domestic economic data, cautious Bank of Canada signals, and stronger U.S. dollar momentum driven by hawkish Fed outlooks. With weaker oil prices adding to concerns, markets price in possible BoC rate cuts later this year, pushing USD/CAD near 1.37. Economic and global uncertainties continue to weigh on the loonie’s outlook. #Forex #CAD #USD #Economy
USD/CAD slipped below 1.3850 amid market unease over the Fed’s independence following reports that Trump’s team aims to increase political influence over the central bank. The prospect of curtailed Fed autonomy pressured the USD, while the CAD gained modest support from stable oil prices and resilient Canadian economic data. Technical indicators suggest cautious bearish momentum, with key support levels near 1.3790 and 1.3700 in focus. Traders will closely monitor developments around U.S. monetary policy and political risks that could shape currency trends ahead.
USD/CAD slipped below 1.3850 amid growing market unease over the Fed’s independence as political pressures mount. Dovish rate hike expectations, firmer oil prices, and technical selling also weighed on the pair, boosting the Canadian Dollar. Traders remain cautious as Fed autonomy questions reshape monetary policy outlook.
USD/CAD softened Monday as the US dollar weakened amid renewed concerns about the Federal Reserve’s independence. Political uncertainty and potential shifts in Fed leadership have heightened market caution. Meanwhile, rising oil prices supported the Canadian dollar, adding pressure on the greenback. Traders await further clarity on Fed policy and economic data.
USD/CAD tests critical resistance near 1.3700 after strong USD momentum and weakening Canadian economy. Diverging central bank policies keep volatility on the horizon as traders eye potential breakout or retracement. Key support levels to watch if correction unfolds. #forex #USDCAD #currencytrading
The U.S. dollar retreated sharply after former President Trump’s remarks about firing Federal Reserve Governor Lisa Cook, sparking concerns over the Fed’s independence. This political uncertainty weighed on the greenback and influenced key pairs: EUR/USD and GBP/USD rallied as underlying momentum strengthened, while USD/CAD and USD/JPY faced downward pressure. Our full analysis explores technical levels and macroeconomic factors driving these shifts amid ongoing market volatility.
The U.S. dollar retreated sharply after Trump’s unexpected removal of Fed Governor Lisa Cook, sparking concerns about Fed independence and potential shifts in monetary policy. EUR/USD and GBP/USD gained ground on dollar weakness, while USD/JPY and USD/CAD pulled back amid risk-off sentiment and uncertainty. Technical outlooks suggest EUR/USD may target 1.0950 resistance, GBP/USD remains bullish above 1.2550, USD/JPY faces support near 135.00, and USD/CAD is eyeing support around 1.3500. Market volatility is expected to persist as political factors continue to weigh on the dollar’s trajectory.
The US dollar maintains gains supported by strong economic data and expectations that the Federal Reserve will keep interest rates elevated for longer. Global growth concerns and diverging central bank policies continue to bolster the dollar’s safe-haven appeal against major currencies. #Forex #USD
