Today's US holiday. Therefore, price action was limited.
At the start of the US session, USD was mixed with the following profits/losses and displayed the main currency:
- EUR +0.20%
- JPY -0.56%
- GBP, -0.06%
- CHF +0.27%
- CAD +0.07%
- AUD-0.17%
- NZD. -0.09%
At the end of the session, the changes are currently visible.
- EUR +0.10%
- JPY -0.58%
- GBP -0.28%
- CHF +0.17%
- CAD +0.02%
- AUD -0.14%
- NZD -0.14%
GBPUSD is the biggest initiator in the US session and shows strong bullish momentum. On the hourly chart, the pair broke between 1.2596 and 1.2614 on the key swing area for the second time in two days. Although Friday's breakout failed, today's price action suggests that buyers are still in control and maintaining a pair above this level.
To maintain a bullish bias, the price should exceed 1.2596. Moves below this level will undermine bullish prospects. However, as long as the pair outweighs support, the next upside target will contain a swing area between 1.2659 and 1.2670, followed by a 100-day moving average (currently at 1.2687, with low trend) .
Breaks above the 100-day moving average (best blue line on the chart above) are key technology developments marking the first breakout above this level since November 2024. Potential.
There were no releases of economic data released, but Feds Harker and Fed Bowman spoke
- Philadelphia Fed President Patrick Harker said the current economic situation justifies maintaining the Fed's stable interest rate policy for now, and that future adjustments will remain data-dependent. Inflation has been sticky in recent months, but Harker is sure to gradually return to its 2% target within two years. He further flagged it as an increase in economic challenges as an increase in rising housing insurance costs, warning that inflation is at risk of having to be monitored carefully while decreasing. On the Fed's balance sheet, Harker anticipates rapid shrinkage in bank reserves and supports the transition. National bond portfolio. However, he noted that the wind blowing endpoints on the balance sheet remained uncertain. He also emphasized that the liquidity conditions have not yet been tightened enough to ensure an immediate halt of the process.
- Federal Reserve Gov. Michelle Bowman said that while inflation is expected to decline, the risk of rising remains, requiring greater confidence before considering additional interest rate cuts. She emphasized the need for patience and made time to assess the impact of the new government's policies on the economy. Although employment has slowed, the labor market remains strong and unemployment is still below full employment estimates. Bowman also highlighted that wage growth remains above levels consistent with the Fed's 2% inflation target, with high asset prices likely contributing to slower progression of inflation . Additionally, she closely monitors supply chains and potential pent-up demand as additional inflation risks.
In other news, US Puretopu has repeatedly imposed customs duties and round-trip duties on countries that have imposed VAT on imported US products or subsidized products.
EU leaders also recognize and acknowledge new normals regarding self-defense. Trump is looking for $500 billion in recouping the US role in the Ukraine/Russian war.
On the new trading day, the RBA will cut fees for the first time in four years. Click here for a view of the techniques you play on AudUSD through rate determination.
