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Forex Today: US and Iran halt strikes, boosting mood to start Fed week
Here is what you need to know on Monday, July 27:
Japanese Yen: Hawkish shift needed to aid JPY against US Dollar – BNY
BNY’s Geoff Yu notes that the Bank of Japan (BoJ) is widely expected to keep rates unchanged, but stresses that markets need a clearer tightening signal as the Japanese Yen trades near multi-decade lows.
British Pound: BoE seen on hold as risks linger – UOB
UOB strategists note GBP/USD edged up to 1.3326, with Gilts caught between fiscal risks from Prime Minister Burnham’s debut plans and the Oil price shock.
ECB’s Žigman: Central bank is committed to ensure inflation stable around 2%
The remarks from European Central Bank (ECB) Governing Council member and Governor of Croatia's central bank, Ante Žigman, in an interview with Jutarnji List, released during the European trading session on Monday, signal that the central bank will remain vigilant about the intensity and duration of
Euro gains strongly against US Dollar on revival of risk-on sentiment
The Euro (EUR) trades 0.36% higher to near 1.1410 against the US Dollar (USD) during the European trading session on Monday. The major currency pair trades firmly as the revival of risk-on market sentiment has diminished the safe-haven appeal of the US Dollar.
Equities: Earnings and Fed keep risk balanced – Deutsche Bank
Deutsche Bank’s strategists note that global equities delivered a mixed performance, with the S&P 500 posting a second consecutive weekly decline even as semiconductor shares recovered. European and some Asian markets fared better, while US futures moved higher at the start of the week.
EUR/GBP Price Forecast: In a positive trend with bulls eyeing 0.8555 resistance
The Euro (EUR) has picked up towards the 0.8540 area against the British Pound (GBP) on Monday, after a mild pullback on Friday found support at 0.8530. The pair maintains the immediate bullish trend from mid-July lows at 0.8455, with bulls looking at three-week highs in the area of 0.8555.Â
Euro: September hike outlook offers support against US Dollar – UOB
UOB strategists highlight that EUR/USD slipped slightly to 1.1369 as comments from European Central Bank (ECB) Governing Council member Gediminas Simkus suggested a rate increase remains more likely than a hold.
Japanese Yen gains against US Dollar at the start of Fed-BoJ policy week
The Japanese Yen starts the week on a positive note against the US Dollar (USD), but is down against its other currency peers.
AUD/USD Price Forecast: Consolidates near 0.7000 as bulls await 38.2% Fibo. breakout
The AUD/USD pair struggles to capitalize on a modest bullish gap opening on Monday and oscillates in a narrow band around the 0.7000 psychological mark through the Asian session.
EUR/JPY Price Forecast: Holds gains around 186.50 within rising wedge
EUR/JPY gains ground after registering minor losses in the previous day, trading around 186.50 during the Asian hours on Monday. The currency cross is keeping a bullish near-term bias as it holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).
Swiss Franc climbs as US Dollar falls on easing safe-haven demand
USD/CHF depreciates after five days of losses, trading around 0.8150 during the Asian hours on Monday.
Indonesian Rupiah weakens as Bank Indonesia Governor Perry Warjiyo resigns
USD/IDR has recovered its losses from the previous trading day, hovering around 18,050 during the Asian hours on Monday.