July US payrolls fell by 23K, missing forecasts of 80K jobs, prompting traders to slash Fed rate hike odds for September. EUR/USD climbed 0.43% to 1.1570 as the US Dollar slumped following a surprise drop in July Nonfarm Payrolls. The Bureau of Labor Statistics reported a
Japan used ¥14 trillion to prop up JPY Japan recently intervened in the foreign exchange market, using a record amount of ¥14 trillion to support the Japanese Yen. The intervention triggered a sharp but temporary rally in the JPY, with USD/JPY slumping from an intra-d
Analysts see potential downside for GBP amid steady BoE policy expectations and pre-budget jitters. The Euro trades at 0.8575 against the British Pound, remaining range-bound for ten days as momentum wanes. The mid-July rebound from below 0.8500 stalls beneath key moving a
XAG/USD surges 4.16% on Fed rate cut bets and safe-haven demand before key July payrolls data. Silver (XAG/USD) climbed to $64.10, marking a 4.16% daily gain and its highest level in six weeks. The rally reflects easing expectations for further Federal Reserve rate hikes a
Analysts forecast the euro to strengthen against the dollar as US rate expectations ease and geopolitical tensions subside. The euro is projected to climb toward 1.19 against the US dollar by the end of 2027, driven by a reassessment of Federal Reserve policy expectations.
Higher US yields, resilient jobless claims, and firmer oil prices bolster the USD as markets reassess Fed tightening risks. The US Dollar strengthened as global yields rose and oil prices firmed, driven by fading optimism over the Strait of Hormuz reopening. USDJPY neared
Mexico’s central bank maintains restrictive policy, delaying inflation targets and signaling prolonged rate stability through 2027. Mexico’s central bank, Banxico, left its overnight policy rate unchanged at 6.50% in a unanimous decision on August 6, aligning with analyst
US Dollar Index consolidates ahead of US Nonfarm Payrolls data The US Dollar Index is flattening at around 99.92 as investors await the US Nonfarm Payrolls data for July. The data is expected to significantly influence Federal Reserve interest rate expectations.
Analysts highlight 1.1565 as a critical resistance level for EUR/USD after repeated failures near 1.1560. EUR/USD retreated to 1.1524 after multiple attempts to breach the 1.1560-1.1565 resistance zone. The pair’s inability to sustain gains above this level has triggered a
Analysts see EUR/USD needing a close above 1.1565 to target 1.1600, with support holding near 1.1495. EUR/USD retreated to 1.1524 after failing to break above 1.1560, despite multiple attempts. Analysts now see potential for further pullback but expect strong support at 1.
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