Forex Today: US Dollar strengthens from Fed impact, important data ahead
Thursday, July 31st Update The US Dollar (USD) has seen a slight correction today after experiencing a strong rally against its competitors on Wednesday. This strength was supported by solid economic data and a cautious approach from the Federal Reserve regarding its monetary policy. Today’s economic calendar for Europe includes inflation figures from Germany for […]
Australian Dollar remains steady after Retail Sales and China’s PMI figures are released.
The Australian dollar holds steady as retail sales experienced a rise of 1.2% month-over-month in June, significantly surpassing the anticipated 0.4% increase. The NBS Manufacturing Purchase Managers Index in China dropped to 49.3, while the non-manufacturing PMI eased to 50.1 in July. The Federal Reserve maintained benchmark interest rates in the range of 4.25%-4.5% during […]
Pound Sterling levels off against US Dollar before Fed interest rate decision
Sterling is trading around 1.3350 against the US dollar, with investors closely watching for the Federal Reserve’s impending financial policy announcement. There is a prevailing hope among investors that the Fed will hold interest rates steady. Concurrently, a dip in labor demand in the UK is setting the stage for potential interest rate reductions by […]
US Dollar Index stays under 99.00 before Fed policy meeting
The US Dollar Index’s Streak Comes to an End The US Dollar index will halt its winning streak ahead of the Fed rate decision. The Fed is expected to not change its benchmark interest rates in July. US Treasury Secretary Scott Bescent said the US and China will continue to talks on maintaining the tariff […]
EUR/USD declines to 1.1550 as the Dollar gains strength despite poor US data
EUR/USD has dipped 0.33%, marking its biggest daily decline since December 2024 on Monday. US job openings fell short of expectations at 200k, and while consumer confidence has improved, concerns about the job market linger. Traders are on edge, awaiting insights from the Fed, EU inflation, as well as employment and growth data to inform […]
Canadian Dollar keeps falling before Fed rate decision
The Canadian dollar faced further declines on Tuesday as the US dollar continued to strengthen. Lack of economic data from Canada left CAD traders somewhat sidelined. The market sentiment remains bullish for the US dollar, particularly ahead of significant economic reports from the US. The Canadian Dollar (CAD) experienced its fourth straight day of losses […]
The Pound declines in value compared to the US Dollar, attention turns to the Federal Reserve’s monetary policy.
The US dollar remains strong, putting pressure on the pound sterling, which is trading weakly around 1.3350 against it. Investors are anticipating a decision from the Federal Reserve regarding interest rates on Wednesday. UK inflation is rising, which is affecting household spending. The pound sterling (GBP) is hanging around 1.3350 US dollars (USD), hitting a […]
Forex Today: US Dollar gains slow down as attention turns to US data and trade discussions
Here’s what you should know for Tuesday, July 29th: US Dollar (USD) is holding steady against other currencies after a strong performance on Monday. The July Consumer Trust Report is on the agenda in the US Economic Calendar, along with Joltz’s job openings and June’s product trade balancing data. Moreover, market watchers are likely to […]
Australian Dollar stays weak while US Dollar remains steady amidst trade optimism.
The Australian dollar is currently facing challenges as the US dollar gains traction, bolstered by optimism surrounding a trade agreement between the US and the European Union. US-China trade discussions are set to recommence on Tuesday. The Reserve Bank of Australia (RBA) is expected to closely observe employment data for June and inflation figures for […]
GBP/USD falls for a third consecutive day as the Dollar strengthens.
Market Update: GBP/USD Falls Below 1.3400 GBP/USD slipped below 1.3400 on Monday as the US dollar regained strength. The absence of significant UK economic reports has allowed US data to take center stage. Upcoming US data includes GDP figures, Federal Reserve rate expectations, PCE inflation, and a Non-Farm Payroll report. At the start of the […]