USD/CAD remains in consolidation amid a bullish trend from late 2025. Key levels to watch: support at 1.3350 and resistance at 1.3500. Fed’s hawkish stance supports USD strength, while softer oil prices and cautious BoC policy weigh on CAD. Technicals hint at potential upward momentum if resistance breaks.
Forex Today: The Reserve Bank of Australia surprises markets with a hawkish stance, maintaining a tightening bias to tackle persistent inflation concerns. Meanwhile, the threat of a US government shutdown delays the crucial January jobs report, adding uncertainty to the US dollar outlook and global market sentiment.
USD/JPY and USD/CAD show signs of mean-reversion risk in February after strong moves into 2024. USD/JPY faces intervention concerns near 150 amid dovish BoJ and cautious Fed signals, while USD/CAD may retreat as oil prices stabilize and CAD positioning normalizes. Watch key support and resistance for potential pullbacks as markets seek balance.
GBP/USD remains steady near 1.3700 as investors weigh Federal Reserve policy outlook following Kevin Warsh’s warnings about potential US economic overheating. While Fed officials maintain a dovish stance, markets balance inflation concerns with optimism from the UK’s vaccine rollout and US stimulus prospects. Key upcoming data and policy signals will guide near-term moves.
The S&P 500 hit an all-time high of 5049 on Feb 1, 2026, completing a key Elliott Wave five-wave impulse pattern that began with the 2020 COVID low. This suggests the long-term bull market may be ending and a major correction could follow. Investors should watch for confirmation signals and prepare accordingly. Full analysis: https://ewminteractive.com/elliott-wave-analysis-sp500-february-2nd-2026
This week’s forex outlook centers on global central banks’ policy moves and former Fed Governor Kevin Warsh’s Congressional testimony. With inflation uncertainty and geopolitical risks shaping markets, Warsh’s remarks may signal shifts in U.S. monetary policy, while key data and decisions from the RBA, BoE, and BoC add layers of complexity for traders worldwide.
USD/CAD is showing signs of hesitation after recent declines, stabilizing near key support around 1.3370. Technical indicators suggest bearish momentum is fading, but sustained recovery depends on breaking resistance near 1.3450. Traders should watch for confirmation before signaling a trend reversal. #forex #USDCAD
USD/CAD is showing signs of waning bullish momentum with bearish divergences emerging on key indicators. A corrective pause or deeper pullback toward 1.3600–1.3380 support may be in play, but the broader uptrend holds while above 1.3378. Watch resistance near 1.3784 for a breakout to renew gains. Detailed analysis via ActionForex.com.
USD/CAD drops near 1.3550, hitting 15-month lows as the Canadian dollar strengthens. Rising oil prices, softer U.S. inflation, and dovish Fed outlook support the Loonie’s gains. Watch for continued pressure on the pair amid contrasting monetary policies.
Gold prices have surged past $2,050 an ounce amid rising geopolitical tensions in the Middle East and a weakening US dollar. Investors are flocking to gold as a safe haven, driven by concerns over conflicts, disrupted trade routes, and expectations of Federal Reserve easing in 2024. With inflation easing and interest rates potentially cutting later this year, gold’s appeal as a store of value remains strong.
