A major move in USD following the Federal Reserves updated monetary policy stance on Wednesday risks sparking volatility across the currency market.
The US Dollar is approaching resistance at the yearly highs with major event risk on tap. Here are the levels that matter on the DXY weekly chart into the close of July.
Gold continues to bide its time before its next move with price action tempered ahead of next weeks FOMC rate decision when the Fed is fully expected to start cutting interest rates.
The Australian Dollar spiked down as the RBA Governor opened his Parliamentary remarks by saying record low rates could yet be reduced.
The Australian Dollar has gained despite big cuts to domestic borrowing costs as investors find other reasons to go long.
Equities are showing signs of risk aversion ahead of testimony from Fed Chair Jerome Powell, though S&P 500 net-short positioning may precede a turn higher as support looms.
The Swiss Franc outperformed, EURCHF, USDCHF tumbled with US-Iran tension fears. While the Dollar extended declines, it was unable to breach rising support from September 2018.
In the aftermath of the Federal Reserve's latest dovish shift in monetary policy, what might spiking implied volatility measures suggest about the next direction in USD and gold prices?
The AUDUSD post-Fed rally could be shot down by RBA Governor Philip Lowe who may underscore rate cut bets. Meanwhile, the anti-risk Japanese Yen may sink as the Nikkei 225 rallies.
The Nikkei 225 dropped alongside Nintendo shares. The ASX 200 may be topping on bearish technical signals. Declines in equities may be ahead after Asia Pacific stocks mostly sunk.
The US Dollar downtrend paused, saved by rising trend support, as Fed rate cut bets cooled on fading US-Mexico trade tensions. GBP sunk on largest contraction in manufacturing data since 2002.
The US Dollar dived, leaving EUR/USD under resistance. July Fed rate cut bets soared, but Alphabet Inc. sunk with tech share woes as the S&P 500 fell. Will AUD fall on an RBA rate cut?
The Canadian Dollar climbs on the back of recent USMCA tailwinds and oil price gains, but the prospect of hawkish FOMC minutes due Wednesday threatens to keep USD bid.
The US Dollar extended gains alongside the S&P 500 with rising bond yields, EUR/USD cleared support and the Euro may retest June 2017 lows again on market positioning signals.
Gold prices inch towards inevitable upside or downside breakout, eyeing a speech from Fed Chair Jerome Powell and increasingly tense US-China trade talks, along with crude oil prices.
The past few days have produced choppy price action in Gold and the US Dollar, but price action after the May Fed meeting may point to near-term resolution.
The US Dollar may rise versus the Singapore Dollar on the Fed as a cooldown in crude oil prices supports the Philippine Peso. China Manufacturing PMI may surprise higher, boosting MYR.
The US Dollar will be looking to first-quarter corporate earnings reports and a slew of macroeconomic data releases to shape global growth bets amid fears of slowdown.
Spot gold is coming under pressure today, likely in response to a surging US Dollar following less-dovish remarks from Fed officials revealed in the latest FOMC minutes. Which key XAUUSD technical levels might be targeted next?
The US Dollar is rebounding higher in response to details found in the Federal Reserve's publication of its March FOMC meeting minutes.