The Euro (EUR) is softer, down 0.2% against the US Dollar (USD) and underperforming most of the G10 currencies along with Swiss Franc (CHF) and Australian Dollar (AUD), Scotiabank's Chief FX Strategist Shaun Osborne notes.
Pound Sterling (GBP) is entering Tuesday’s American session flat against the US Dollar (USD) and showing signs of exhaustion following an astounding 10-session rally that culminated in Monday’s surge through 1.34, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Japanese Yen (JPY) is up 0.4% against the US Dollar (USD) and outperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is little changed on the session so far, reflecting a somewhat mixed trend in the USD overall, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is consolidating. The major currencies are trading mixed overall as markets steady and take stock of developments after yesterday’s steep US equity declines.
The EURUSD, USDJPY and GBPUSD are correctiing/consolidating and trying to give USD buyers a small victory. However, there would be more work to do to give USD buyers more control
USD/JPY continues to trade with a heavy bias as broad USD softness persists. Pair was last at 140.34 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Dollar Index (DXY) continued to trade near recent lows and was last seen trading at 98.44, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USD/CAD has fallen significantly in recent weeks. However, this was due to pronounced USD weakness rather than CAD strength. If the US dollar recovers, we are likely to see higher levels again.
The Japanese Yen (JPY) is the biggest winner in this latest round of USD selling, as it responds to both the equity slump and the risks of the Fed’s independence.
US Dollar (USD) losses of the past few weeks have been a combination of mounting US growth concerns and a loss of confidence in the dollar as a safe haven. The round of USD weakness seen on Easter Monday belongs to both trends.
The latest round of dollar depreciation has sent EUR/USD through the 1.150 level. Now, there isn’t any other key resistance until 1.20. Picking a top in the pair has proven a frustrating exercise, and Trump’s attack on the Fed is likely extending the confidence crisis on the dollar.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, extends its downside to near 98.15, the lowest since March 2022. The USD weakens across the board as fears over the independence of the Federal Reserve (Fed) intensified.
The USD/CAD pair struggles to capitalize on the overnight bounce from the 1.3780 region, or a six-month low, and attracts fresh sellers during the Asian session on Tuesday.
EUR/USD extends its gains for the third successive session, trading around 1.1530 during the Asian hours on Tuesday. The technical analysis of the daily chart suggests growing buying pressure and as the pair is moving upwards within an ascending channel pattern.
The USD/CHF extended its losses for the third consecutive day as market mood shifted sour due to US President Donald Trump's attacks on Fed Chair Jerome Powell, which investors saw as a threat to the independence of the US central bank. At the time of writing, the pair trades at 0.8080, down 0.06.
The AUD/NZD pair is exhibiting bearish signals, currently trading around 1.0700, down 0.40% today, and positioned mid-range between 1.06784 and 1.07439 during Monday’s session.
Gold price begins the week on a higher note, gaining over 2.56% and refreshing a previous record high as the precious metal hits $3,430 on uncertainty about comments that threat to curtail the Federal Reserve’s (Fed) independence.
The USD/CAD pair continues to drift lower on Monday, trading near the 1.3800 level as the US Dollar remains on the defensive following a wave of political headlines.
The EUR/USD pair is gaining traction on Monday’s session, rising to the 1.1500 region and marking a 1% intraday increase. The pair sits mid-range between 1.1391 and 1.1572, with bullish sentiment supported by price action and technical indicators.
The EUR/GBP pair extended its positive momentum on Monday after the European session, holding near the 0.8600 area following a 0.31% daily gain. Price action hovered mid-range between 0.8577 and 0.8624, with bulls managing to sustain control without triggering a breakout.
The Pound Sterling (GBP) rallies sharply by over 0.70% on Monday as investors grew distrustful of United States (US) policymakers after White House Economic Adviser Kevin Hassett stated that President Donald Trump is seeking ways to sack Federal Reserve (Fed) Chair Jerome Powell.
Japanese Yen (JPY) is up an impressive 1.0% against the US Dollar (USD) but a mid-performer among the G10 currencies in an environment of material USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Euro (EUR) is up an impressive 1.25% against. the US Dollar (USD) and outperforming all of the G10 currencies with the exception of Swiss Franc (CHF), Scotiabank's Chief FX Strategist Shaun Osborne notes.
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