• Latest
  • Trending
  • All
Dollar lacks upside momentum due to lower Treasury yields

Dollar steady ahead of inflation data

June 10, 2022 05:42
Russian ruble licks wounds at all-time lows

Dollar demand intensifies, with month-end flows in focus

June 30, 2022 06:42
Equity markets mixed ahead of the weekend

Markets struggle for direction as worries persist

June 30, 2022 04:15
Dollar lacks upside momentum due to lower Treasury yields

Greenback continues to outperform its rivals

June 29, 2022 05:31
Stocks retain bullish bias, capping dollar’s recovery

Risk demand wanes across the markets, dollar edges higher

June 29, 2022 04:49
Dollar lacks upside momentum due to lower Treasury yields

Dollar stays downbeat, but bearish potential remains limited

June 28, 2022 06:15
Geopolitics pushes global markets south, dollar bulls back in the game

Stocks retain bullish bias, capping dollar’s recovery

June 28, 2022 04:38
Dollar lacks upside momentum due to lower Treasury yields

USD slightly on the defensive to start the week

June 27, 2022 06:04
Markets struggle for direction, dollar steady after gains

Stock market rally continues, pressuring the dollar

June 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar resumes the downside, looks choppy

June 24, 2022 06:22
Risk sentiment looks mixed, dollar retreats marginally

Equities in positive territory ahead of the weekend, dollar lags

June 24, 2022 05:13
Stocks making recovery attempts, markets remain unstable

Markets indecisive as recession fears persist

June 23, 2022 09:11
Dollar lacks upside momentum due to lower Treasury yields

USD regains bullish bias, volatility ebbs somehow

June 23, 2022 08:44
  • Terms & Сonditions
  • Contact
Friday, July 1, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mixed ahead of the weekend

    Markets struggle for direction as worries persist

    Stocks retain bullish bias, capping dollar’s recovery

    Risk demand wanes across the markets, dollar edges higher

    Geopolitics pushes global markets south, dollar bulls back in the game

    Stocks retain bullish bias, capping dollar’s recovery

    Markets struggle for direction, dollar steady after gains

    Stock market rally continues, pressuring the dollar

    Risk sentiment looks mixed, dollar retreats marginally

    Equities in positive territory ahead of the weekend, dollar lags

    Stocks making recovery attempts, markets remain unstable

    Markets indecisive as recession fears persist

    Global stocks in recovery mode but still cautious

    Global stocks back under pressure after short-lived relief rally

    Equity markets mixed, focus shifts to Blinken-Lavrov meeting

    Markets enjoy recovery but risks persist

    Global stocks struggle after a bearish week

    Markets relatively steady to start the week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mixed ahead of the weekend

    Markets struggle for direction as worries persist

    Stocks retain bullish bias, capping dollar’s recovery

    Risk demand wanes across the markets, dollar edges higher

    Geopolitics pushes global markets south, dollar bulls back in the game

    Stocks retain bullish bias, capping dollar’s recovery

    Markets struggle for direction, dollar steady after gains

    Stock market rally continues, pressuring the dollar

    Risk sentiment looks mixed, dollar retreats marginally

    Equities in positive territory ahead of the weekend, dollar lags

    Stocks making recovery attempts, markets remain unstable

    Markets indecisive as recession fears persist

    Global stocks in recovery mode but still cautious

    Global stocks back under pressure after short-lived relief rally

    Equity markets mixed, focus shifts to Blinken-Lavrov meeting

    Markets enjoy recovery but risks persist

    Global stocks struggle after a bearish week

    Markets relatively steady to start the week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Dollar steady ahead of inflation data

Dollar steady ahead of inflation data

by Joseph Deen
June 10, 2022 05:42
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

Should the CPI report surprise to the upside, the euro may suffer even deeper losses in the near term

EURUSD

The dollar has steadied after yesterday’s rally that pushed the USD index back above the 103.00 mark amid a plunge in the euro and other riskier assets in the aftermath of the ECB meeting. The index is now in a wait-and-see mode ahead of the inflation report that will set fresh tone for USD pairs ahead of the weekend. EURUSD stays just above the lower end of the extended trading range, struggling below the 20-DMA. Should the CPI report surprise to the upside, the pair may suffer even deeper losses in the near term. On the downside, failure to hold above 1.0600 would pave the way towards the 1.0550 intermediate support, followed by 1.0500. Also on the negative side, the shared currency derailed the 20-DMA for the first time in three weeks, while the daily RSI preserves a bearish slope in neutral territory, suggesting there is room for further losses in the near term. As such, the nearest upside target is now represented by the mentioned moving average, currently at 1.0655.

GBPUSD

GBPUSD has been on the defensive for the third day in a row on Friday, being pressured by a stronger dollar amid a risk-off tone that dominates global financial markets these days. In the process, the cable derailed the 20-DMA that now turns into the immediate resistance. The pair extended losses to 1.2470, followed by the 1.2430 zone that capped losses earlier in the week. On the four-hour charts, the pound is flirting with the descending 200-SMA while the RSI is pointing south, suggesting there is room for further losses at this stage, especially as the prices failed to hold above the 1.2500 figure that now represents the nearest bullish target. As such, the outlook for the pair looks bearish while in a wider picture, the pound remains within a strong downtrend, holding just above two-year lows seen in May around 1.2150. The bearish trend remains intact while below the descending 200-DMA, today around 1.3300.

USDJPY

USDJPY rallied to fresh twenty-year highs around 134.55 early on Thursday before erasing nearly all intraday gains. The pair has finished above 134.00 but failed to extend the advance on Friday, correcting lower during the European hours amid overbought conditions. The dollar was last seen changing hands around 133.85, down 0.36% on the day. On the downside, the immediate support now arrives at 133.00, followed by the 132.50 zone. On the hourly charts, the pair has lost some bullish momentum, with the RSI struggling for direction while the prices dipped back below the descending 20-SMA. Still, the USDJPY pair stays within a strong uptrend that is unlikely to be derailed anytime soon. After the current downside correction, the pair may resume the ascent towards fresh multi-year highs, with the next major target arriving at 135.00.

XAUUSD

Gold prices were mostly pressured this week, struggling to hold above $1,850 amid the rallying dollar. Still, the safe-haven metal has been somehow supported by elevated economic and geopolitical concerns. The XAUUSD pair briefly climbed to $1,875 last week but failed to preserve the upside momentum and retreated back to the flat-line. At this stage, gold prices struggle around the 20-SMA, also holding just above the 200-DMA that has been capping losses these days. Should this moving average, today at $1,842, give up, the yellow metal may see a deeper drop towards $1,830 in the near term. In a wider picture, the bullion remains vulnerable as well, but rising economic concerns will continue to cap the downside. On the weekly charts, XAUUSD keeps flirting with the 100-SMA since last month, with the key support arriving at $1,830, followed by the $1,800 handle and mid-May lows in the $,785 zone.

Tags: DollarECBEURUSDGBPUSDGoldUSDUSDJPYXAUUSD
Share3Tweet2
ADVERTISEMENT
Joseph Deen

Joseph Deen

Joseph is a technical analysis expert. A graduate of NYU, Joseph has a master's degree in mathematics. On FWNews, Joseph provides exchange rates reviews and forecasts.

Related Posts

Russian ruble licks wounds at all-time lows
Technical analysis

Dollar demand intensifies, with month-end flows in focus

June 30, 2022 06:42
15
Equity markets mixed ahead of the weekend
Fundamental analysis

Markets struggle for direction as worries persist

June 30, 2022 04:15
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback continues to outperform its rivals

June 29, 2022 05:31
15
Stocks retain bullish bias, capping dollar’s recovery
Fundamental analysis

Risk demand wanes across the markets, dollar edges higher

June 29, 2022 04:49
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar stays downbeat, but bearish potential remains limited

June 28, 2022 06:15
18
Geopolitics pushes global markets south, dollar bulls back in the game
Fundamental analysis

Stocks retain bullish bias, capping dollar’s recovery

June 28, 2022 04:38
19

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Coordinated Central Bank Action to Enhance the Provision of Global U.S. Dollar Liquidity

March 15, 2020 17:21
10
The Fed triggered a widespread risk aversion

The Fed triggered a widespread risk aversion

August 20, 2020 11:21
13
Pound corrects higher due to dollar weakness

Dollar is back on the defensive

August 31, 2021 11:08
15

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2020 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2020 FWNews