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The Canadian dollar slipped after five days of gains as the US dollar strengthened, driven by rising US Treasury yields, hawkish Fed expectations, and profit-taking. Despite solid Canadian inflation and labor data, the USD/CAD pair rose above 1.3680, reflecting shifting monetary policy outlooks and market sentiment.
AUD/USD bulls are gearing up for a breakout, supported by rising commodity prices, resilient Australian economic data, and hawkish signals from the RBA. Meanwhile, China’s recent stimulus measures add further upside potential. Watch key resistance levels closely as price action targets a strong move higher.
U.K. stocks extended their winning run to a sixth consecutive day, driven by broad sector gains in energy, financials, and consumer goods. Positive economic data, solid corporate earnings, and global market strength supported investor confidence amid ongoing inflation and geopolitical concerns. The FTSE 100’s steady climb signals optimism for the U.K. market despite challenges ahead.
EUR/USD tested key support near 1.0665 before rallying and reclaiming losses into the weekend. Weekly technical levels highlight resistance around 1.0830 to 1.0930 and crucial support at 1.0723–1.0760. The pair remains range-bound within long-term Fibonacci zones with bearish bias unless price closes above 1.0910 on a weekly basis. Short-term momentum shows a modest recovery, but the broader outlook stays cautious. More from Michael Boutros at Forex Factory.
USD/JPY stalls below April highs after hitting resistance near 160.00, signaling possible consolidation or weakness ahead. Fed’s cautious stance and BoJ intervention fears cap upside, while technicals point to a potential pullback. Watch key support at 155.50. #Forex #USDJPY #USD
USD/CAD extends gains, climbing above 1.38 as a stronger US dollar and weaker Canadian economic data reshape market sentiment. Hawkish Fed signals and solid US growth contrast with Canada’s sluggish GDP, softer manufacturing, and rising unemployment. Investors eye potential BoC rate cuts amid subdued oil prices.
The Australian dollar is testing key resistance as bullish momentum builds in AUD/USD. Supported by stable commodity prices and a cautious RBA stance, the pair eyes a breakout amid softer US dollar and easing Fed expectations. Watch for confirmation as markets weigh central bank signals and global growth cues.
UK flash PMIs show slower growth as manufacturing contracts and services lose momentum. Pound dips amid concerns about economic resilience ahead of May retail sales data, which investors hope will indicate consumer rebound. Bank of England remains cautious amid mixed signals. Source: MarketPulse – Kenny Fisher
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