|Day's Range||108.35 - 108.708|
|52 Week Range||106.7760 - 114.5110|
The U.S. Federal Reserve is expected to leave its benchmark interest rate unchanged at 2.50%, but could issue a dovish monetary policy, which hints at a rate cut in July. Investors will be looking for clues for an easing of monetary policy later this year.
Investing.com - The U.S. dollar slipped on Monday in Asia as traders awaited the upcoming Federal Reserve policy meeting later this week where Fed Chair Jerome Powell could open the door to rate cuts later in the year.
Investing.com - In what is set to be a busy week, the Federal Reserve’s latest interest rate announcement will dominate trader’s attention amid expectations that the central bank could flag plans to ease monetary policy.
Today’s positive US data seemed to mitigate the speculations over a probable Fed rate cut. Fiber dropped 0.66% reaching near 1.1214 levels amid Greenback upsurge and weak German & Italian data.
The US dollar has gone back and forth during the course of the week, as we gapped higher on Monday, and then simply went sideways forming daily shooting stars and hammers. Confusion is the main take away here.
The British pound struggled a bit during the trading week, as we continue to see a lot of nervousness in overall risk appetite. With that being the case, it makes sense that the Japanese yen would get a little bit of a rally.
The British pound fell against the Japanese yen during trading on Friday, reaching down towards the lows that were recently printed. Overall, if we can break down below the ¥136.50 level, then things get truly interesting.
It’s a litmus test for the U.S economy today. Retail sales and consumer sentiment figures will give the FED an idea of how consumers really feel.
Investing.com -- The dollar was lower against the yen and euro early Friday in Europe but higher against risk proxies such as the Aussie dollar as traders shunned risk ahead of a weekend set to be marked by geopolitical tensions.
It looks like the calm in the currencies is drawing to a close and volatility is about to pick up. So far, so good. We’re at a crossroads these days: after a recent string of declines, the USD appears to be catching a bid. This is not without repercussions and a move either way will be profoundly felt across the markets. But which way that move will be? Read on to find out – and also get positioned accordingly.
The next FOMC meeting will take place on June 19, and on June 13 the interest rates markets were pricing in a rate cut of 25 bps by 24.2%, while the likelihood of the Fed leaving rates unchanged in the 225-250 interval was at 75.8%.
The US dollar fell initially during the trading session on Thursday, as Asian markets were a bit soft. However, we have seen a significant amount of buying pressure at the gap from earlier in the week, and as the Americans come on board it looks as if the market is probably going to simply levitate in this region.
The U.S. dollar was slightly higher on Thursday as traders increased expectations that the Federal Reserve will cut interest rates in the coming months. Consumer inflation data on Wednesday helped support the case for a cut, as it slipped from the Fed's 2% target. Traders have been speculating on the possibility of the central bank changing its course on monetary policy due to slowing inflation and rising trade tensions.
Later today in the U.S., investors will get the opportunity to react to data on Import Prices and Weekly Unemployment Claims. However, the direction of the USD/JPY will be primarily driven by Treasury yields and stock prices. Lower yields should keep the pressure on the Dollar/Yen. Increased demand for equities will be supportive for the Forex pair.
The Greenback is on the back foot early as the Asian markets respond to softer inflation out of the U.S. Australian employment figures failed to impress this morning.
Investing.com - The Australian dollar fell against its U.S. counterpart on Thursday following the release of a disappointing jobs report, while the Japanese yen rose on safe-haven demand.
The US dollar fell initially during trading on Wednesday, finally filling the gap that we had seen from earlier in the week. By doing so, we have now taken care of some technical housekeeping, and can start to move again.
The British pound initially dipped a bit during the trading session on Wednesday, but then turned around to try to break out to the upside. The question now is whether or not we continue to do so?
The U.S. dollar pared back earlier gains after tame inflation data supported the case for the Federal Reserve to cut interest rates. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.05% to 96.690 by 10:15 AM ET (14:15 GMT), after reaching an earlier high of 96.757. Consumer inflation edged up 0.1% in May and was up 1.8% on the year, slipping from the Federal Reserve's 2% target.
Based on the early price action, the direction of the USD/JPY on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at 108.435. The major range is 105.180 to 112.405. The USD/JPY is currently trading inside its retracement zone at 108.793 to 107.940. Trader reaction to this zone will determine the longer-term direction of the Forex pair.
Investing.com - The U.S. dollar was trading near two-month lows against a currency basket on Wednesday, as expectations that the Federal Reserve could cut interest rates in the coming months in response to fallout from global trade tensions pressured the currency.
Investing.com - The U.S. dollar index was hovering near two-month lows on Wednesday in Asia after U.S. President Donald Trump said the officials of the Federal Reserve “don’t have a clue” on rates.