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Forex Consultant, الخليج التجاري, Dubai (2026)

09/05/2025

🔔MARKET UPDATE🔔

🇪🇺/🇺🇸EUR/USD
EUR/USD rebounds above 1.1200, downside remains due to improved US Dollar
The EUR/USD pair trimmed daily losses and is trading around 1.1230 during Friday's Asian session. The pair depreciated as the US Dollar found support from upbeat US economic data and signs of easing trade tensions.

🇬🇧/🇺🇸GBP/USD
GBP/USD stays weak below 1.3250 amid sustained US Dollar strength
GBP/USD remains under pressure below 1.3250 in early Europe on Friday. The pair feels the brunt of persistent US Dollar demand on US trade deal optimism. The BoE maintained its cautious stance on future rate cuts but failed to inspire the Pound Sterling as trade headlines dominated.

🇺🇸/🇯🇵USD/JPY
Japanese Yen sticks to modest recovery gains against USD; upside potential seems limited
The Japanese Yen remains on the front foot against its American counterpart through the Asian session and for now; seems to have snapped a two-day losing streak to a four-week low touched earlier this Friday. The upbeat Household Spending data from Japan boosts the case for further interest rate hikes by the Bank of Japan amid the broadening domestic inflation.

🇦🇺/🇺🇸AUD/USD
AUD/USD extends struggles near 0.6400 after China Trade data
AUD/USD keeps its range at around the 0.6400 mark early Friday after China's April Trade Balance data failed to impress The US Dollar stands firm near a one-month top on the back of the US-UK trade deal optimism. The Aussie trades with caution ahead of Saturday's US-China trade talks.

🇳🇿/🇺🇸NZD/USD
NZD/USD breaks below 0.5900, remains subdued following China’s trade data
The NZD/USD pair continues its downward trajectory for the third consecutive session, hovering near 0.5890 during Friday's Asian trading hours. The decline follows the release of China's latest trade data, which pointed to a slowdown in external demand. Given New Zealand’s strong trade links with China, any weakness in the Chinese economy tends to negatively impact the NZD.

🇺🇸/🇨🇦USD/CAD
USD/CAD climbs to multi-week top, closer to mid-1.3900s amid sustained USD buying
The USD/CAD pair is seen building on this week's recovery from the year-to-date low, around mid-1.3700s, and gaining positive traction for the third successive day on Friday.

🥇XAU/USD
Gold down but not out; all eyes on US-China trade talks
Gold price hits fresh weekly lows below $3,300 early Friday. The US Dollar firms up on US-UK trade deal, profit-taking ahead of US-China trade talks. Gold price needs a daily close below 21-day SMA at $3,307 to negate near-term bullish bias.

🛢OIL
WTI maintains position near $60.00, upside appears due to easing trade tensions
West Texas Intermediate crude Oil price edges lower during Asian trading hours on Friday, trading near $59.80 per barrel after posting a nearly 4% gain in the previous session. The rally was fueled by easing trade tensions between major Oil consumers and the announcement of a “breakthrough” trade deal between the US and the United Kingdom.
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08/05/2025

🔔MARKET UPDATE🔔

🇪🇺/🇺🇸EUR/USD
EUR/USD holds steady above 1.1300 amid softer USD; lacks bullish conviction
EUR/USD edges higher on Thursday amid the emergence of fresh USD selling. Trade-related uncertainties hold back investors from placing directional bets. Trump’s press conference at 14:00 GMT eyed for some meaningful impetus.

🇬🇧/🇺🇸GBP/USD
GBP/USD appreciates to near 1.3350, rebounds due to potential US-UK trade deal
The GBP/USD pair rebounds from its recent losses, trading near 1.3340 during the Asian session on Thursday. The Pound Sterling gains traction on speculation that the Trump administration may soon announce a trade agreement with the United Kingdom.

🇺🇸/🇯🇵USD/JPY
USD/JPY remains pressured near 143.50 after BoJ Ueda's comments
USD/JPY is trading in the red near 143.50 in Asian trading on Thursday amid a broadly weaker US Dollar, despite the Fed's hawkish pause. Persistent trade-related uncertainties and geopolitical risks underpin the Japanese Yen, weigihng on the pair as traders digest BoJ Governor Ueda's comments.

🇦🇺/🇺🇸AUD/USD
AUD/USD rebounds above 0.6450, with eyes on US trade headlines
AUD/USD rebounds above 0.6450 early Thursday as the US Dollar struggles to capitalize on hawkish Fed-inspired gains aimd uncertain economic outlook. Furthermore, a generally positive risk tone due to China rate cut lends some support to the Aussie. US-China trade updates eyed.

🇳🇿/🇺🇸NZD/USD
NZD/USD trades higher near 0.5950 ahead of potential US-China trade talks
The NZD/USD pair is trading near 0.5970 during Thursday’s Asian session, rebounding after a more than 1% decline in the previous session. The recovery is driven by optimism surrounding potential de-escalation in US-China trade tensions.

🇺🇸/🇨🇦USD/CAD
USD/CAD trades with negative bias above 1.3800 amid uptick in Oil prices, weaker USD
The USD/CAD pair fails to capitalize on the pervious day's modest recovery move from the vicinity of the year-to-date low and meets with a fresh supply during the Asian session on Thursday.

🥇XAU/USD
Gold price drops to multi-day low, around $3,320 area amid notable USD buying
Gold price turns lower for the second straight day following an intraday uptick to the $3,414-3,415 area and extends the intraday descent heading into the European session on Thursday. The US Dollar attracts some follow-through buying in the wake of the Federal Reserve's (Fed) hawkish pause on Wednesday.

🛢OIL
WTI rises above $58.00, trade uncertainty caps gains
West Texas Intermediate (WTI) crude Oil price recovers some ground during Thursday’s Asian session, trading around $58.10 per barrel after recent losses. The rebound is supported by a decline in US crude inventories.
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07/05/2025

🔔MARKET UPDATES🔔

🇪🇺/🇺🇸EUR/USD
EUR/USD struggles above 1.1350 as US-Sino trade optimism lifts US Dollar
EUR/USD is on the defensive but holds above 1.1350 in the European trading hours. US-China trade talks and China rate cuts lift market mood and the US Dollar alongside. Traders also remain cautious ahead of the Fed policy announcements due later on Wednesday.

🇬🇧/🇺🇸GBP/USD
GBP/USD stays pressured near 1.3350 amid US Dollar demand ahead of Fed
GBP/USD is posting small losses near 1.3350 in early Europe on Wednesday, eroding a part of its weekly gains. The pair's decline is sponsored by a modest US Dollar strength as risk mood improves on optimism over US-China trade talks and Chinese monetary policy supprort. Fed verdict awaited.

🇺🇸/🇯🇵USD/JPY
USD/JPY scales higher amid receding safe-haven demand, ahead of Fed rate decision
USD/JPY rallies nearly 100 pips to regain 143.00 in the Asian session on Wednesday amid US-China trade talks optimism, which dents demand for the safe-haven Japanese Yen. Any meaningful upside, however, still seems elusive in the wake of the divergent BoJ-Fed policy expectations. FOMC decision awaited.

🇦🇺/🇺🇸AUD/USD
AUD/USD keeps range near 0.6500 on PBOC rate cuts, US-China trade optimism
AUD/USD eases off the YTD peak but remains close to 0.6500 early Wednesday. Optimism over US-China trade talks and PBOC interest rate cuts announcements underpin the risk-sensitive Aussie. However, a modest USD uptick caps the upside as traders turn cautious ahead of the FOMC policy decision later today.

🇳🇿/🇺🇸NZD/USD
NZD/USD moves away from over two-week high, slides back below 0.6000 mark
The NZD/USD pair retreats following an Asian session uptick to the 0.6020-0.6025 area, or over a two-week high, and for now, seems to have snapped a three-day winning streak.

🇺🇸/🇨🇦USD/CAD
USD/CAD advances to near 1.3800 despite improved risk sentiment, Fed decision awaited
USD/CAD is recovering its losses registered in the previous session, trading around 1.3790 during the Asian hours on Wednesday. The US Dollar is gaining strength as investors adopt a cautious stance ahead of the Federal Reserve's interest rate decision due later in the North American session.

🥇XAU/USD
Gold corrects from two-week highs, Fed decision eyed
Gold price has come under intense selling pressure early Wednesday, correcting sharply from two-week highs of $3,435. Renewed optimism over the upcoming US-China trade talks and profit-taking ahead of the US Federal Reserve policy announcements.

🛢OIL
WTI advances to one-week high, closer to mid-$59.00s as traders eye US-China trade talks
West Texas Intermediate US Crude Oil prices gain some follow-through positive traction on Wednesday and climb to a one-week high during the Asian session. The commodity currently trades around the $59.40 region, up over 1% for the day, and looks to build on this week's bounce.
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06/05/2025

🔔MARKET UPDATES🔔

🇪🇺/🇺🇸EUR/USD
EUR/USD remains confined in a range around 1.1300 ahead of FOMC meeting
EUR/USD struggles for a firm near-term direction as traders await the crucial FOMC meeting. The recent breakdown below the 100-period SMA on the 4-hour chart favors bearish traders. The mixed technical setup, however, warrants caution before positioning for deeper losses.

🇬🇧/🇺🇸GBP/USD
GBP/USD clings to daily gains, breaks below 1.3300
GBP/USD loses some upside traction and returns to the area below the key support at 1.3300 the figure on Monday, as the US Dollar manages to regain some upside impulse on the back of encouraging results from the US calendar.

🇺🇸/🇯🇵USD/JPY
USD/JPY holds the upswing near 144.00 amid fresh US Dollar demand
USD/JPY is back on the bid near 144.00 in Tuesday's Asian session, capitalizing on the renewed US Dollar upswing. Weak Asian forex exchange and hopes of some US trade deals lift the sentiment around the Greenback, driving the pair northward. The BoJ's dovish pause last week adds to the pair's rebound.

🇦🇺/🇺🇸AUD/USD
AUD/USD keeps the red near 0.6450 as USD firms up, China PMI disappoints
AUD/USD is holding losses near 0.6450 in Asian trading on Tuesday, hurt by a modest US Dollar uptick, disappointing Australian Building Permits data and China's Caixin Services PMI. Asian forex market instability revive the USD demand amid impending US-China trade talks and ahead of the Fed verdict.

🇳🇿/🇺🇸NZD/USD
NZD/USD remains vulnerable near 0.5950 due to weak Chinese PMI data
NZD/USD is retreating around 0.5960 during Tuesday’s Asian session after two consecutive days of gains. The pullback follows a decline in the New Zealand Dollar pressured by disappointing Chinese economic data. China’s services sector grew at its slowest pace since September.

🇺🇸/🇨🇦USD/CAD
USD/CAD trades with mild positive bias, remains below mid-1.3800s
The USD/CAD pair edges higher for the second consecutive day on Tuesday though it lacks strong follow-through buying and remains confined in a familiar range held over the past two weeks or so. Spot prices currently trade around the 1.3830 region, up less than 0.5% for the day amid a combination of diverging forces.

🥇XAU/USD
Gold looks to regain $3,400 as focus shifts to Fed decision
Gold price extends its recovery rally into the second straight day on Tuesday as buyers appear unstoppable amid a bearish sentiment around the US Dollar and escalating geopolitical tensions in the Middle East.

🛢OIL
WTI rises above $57.50, continues recovery despite concerns over rising global supply
West Texas Intermediate crude Oil price continues to recover during Asian trading on Tuesday, hovering around $57.60 per barrel after a nearly 2% decline on Monday. However, gains were capped by concerns over rising global supply following an OPEC+ decision to accelerate output increases.
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15/04/2025

MARKET UPDATES

🇪🇺/🇺🇸EUR/USD
EUR/USD stays defensive near 1.1350 as US Dollar looks to stabilize
EUR/USD remains on the back foot for the second consecutive session, trading near 1.1350 in the European trading hours on Tuesday. The pair weakens as the US Dollar attempts to regain stability amid the US-China trade war and growing concerns over US recession. German/ EU data are awaited.

🇬🇧/🇺🇸GBP/USD
GBP/USD battles 1.3200 after UK jobs data
GBP/USD is defending minor bids near the 1.3200 mark in the early European session on Tuesday. The latest data from the UK showed that Unemployment Rate steadied at 4% in the quarter to February while Average Earnings disappointed, weighing negatively on the Pound Sterling.

🇺🇸/🇯🇵USD/JPY
USD/JPY trades with positive bias above 143.00; upside potential seems limited
USD/JPY gains some positive traction above 143.00 on Tuesday, snapping a three day losing streak to a multi-month low touched last week. The upbeat market mood undermines the safe-haven Japanese Yen and lends support to the pair amid a modest US Dollar recovery.

🇦🇺/🇺🇸AUD/USD
AUD/USD sits at two-week high above 0.6350
AUD/USD holds firm or the fifth straight day on Tuesday and climbs to a nearly two-week low above 0.6350 following the release of RBA minutes, which indicated that the May meeting would be an opportune time to reconsider reacting to potential risks. This, along with a positive risk tone, acts as a tailwind for the Aussie.

🇳🇿/🇺🇸NZD/USD
NZD/USD advances to fresh YTD peak, around 0.5930 area amid broadly weaker USD
NZD/USD attracts strong follow-through buying for the fifth straight day amid a bearish USD. US recession fears, Fed rate cut bets, and a positive risk tone continue to undermine the buck. Technical buying above the 200-day SMA contributes to the momentum despite trade tensions.

🇺🇸/🇨🇦USD/CAD
USD/CAD stabilizes around 1.3900 after rebounding from five-month lows
USD/CAD halts its four-day losing streak, trading around 1.3890 during the Asian hours on Tuesday. The pair edges higher as the US Dollar attempts to stabilize amid mounting concerns over stagflation. Traders will likely observe BoC Consumer Price Index Core data for March due later in the day.

🥇XAU/USD
Gold price holds above $3,200; bullish bias remains amid trade uncertainty
Gold price regains positive traction as US tariff uncertainty continues to underpin safe-haven assets. Bets for aggressive Fed rate cuts in 2025 keep the USD depressed and also benefit the XAU/USD pair. Trump's temporary tariff reprieve improves global risk sentiment and might cap the commodity.

🛢OIL
WTI stays above $61.00 due to tariff relief hopes, strong Chinese imports
West Texas Intermediate crude Oil price remains stable around $61.10 during Asian trading hours on Tuesday. A potential upside in crude prices is supported by recent comments from US President Donald Trump, who suggested the possibility of new tariff exemptions.

05/08/2024

MARKET UPDATES

🇪🇺/🇺🇸EUR/USD
EUR/USD reverses to 1.0900 as risk-off mood intensifies
EUR/USD succumbs to broad risk-aversion early Monday, as US Dollar pauses decline amid the dour mood, weighing on the pair. The Greenback suffered earlier from the USD/JPY sell-off and increased bets for aggressive Fed rate cuts. ISM Services PMI and geopolitical updates in focus.

🇬🇧/🇺🇸GBP/USD
GBP/USD clings to daily gains near 1.2800 after weak US jobs data
GBP/USD clings to daily gains at around 1.2800 in the second half of the day on Friday. Nonfarm Payrolls in the US rose by 114,000 in July. This reading missed the market expectation of 175,000 by a wide margin and triggered a USD selloff.

🇺🇸/🇯🇵USD/JPY
USD/JPY tanks over 3% amid intense risk aversion, BoJ-Fed divergence
USD/JPY keeps falling, losing over 3% in the European session on Monday. Mounting US recession fears and escalating Middle East conflict dent risk appetite, adding extra legs to the safe-haven Japanese Yen, already boosted by the BoJ-Fed policy divergence.

🇦🇺/🇺🇸AUD/USD
Australian Dollar declines due to increased risk aversion, awaits US Services PMI
The Australian Dollar declines following the soft Purchasing Managers Index data release on Monday. Australia Composite PMI fell to 49.9 in July from 50.2 in June, with Services PMI decreasing to 50.4 from 51.8. The US Dollar lost ground as recent downbeat employment data boosted expectations of a Fed rate cut in September.

🇳🇿/🇺🇸NZD/USD
NZD/USD consolidates around 0.5950 as investors await US NFP
NZD/USD trades sideways around 0.5950, with investors focusing on the US NFP report for July. The Fed is expected to roll back its restrictive policy framework from September. Risk aversion market mood has dampened the New Zealand Dollar’s near-term outlook.

🇺🇸/🇨🇦USD/CAD
USD/CAD holds below 1.3900 on dovish Fed bets, eyes on US PMI data
USD/CAD trades with mild gains 1.3880 in Monday’s early European session. The uptick of the pair is bolstered by the risk-off sentiment. Traders expect one more 25 bps rate cut by the BoC in its September meeting.

🥇XAU/USD
Gold price extends its decline despite risk-off mood, US PMI data looms
Gold price (XAU/USD) loses traction on Monday despite the softer Greenback. Markets are still digesting the FOMC’s dovish hold and softer US employment report.

🛢OIL
WTI falls to near $73.00 despite rising supply risks due to Middle East tensions
West Texas Intermediate crude Oil price trades around $73.10 per barrel, extending its losses to six-month lows on Monday. However, the downside of the Oil prices could be limited due to rising supply risks from geopolitical tensions in the Middle East.

02/08/2024

MARKET UPDATES

🇪🇺/🇺🇸EUR/USD
EUR/USD falls below key technical levels with US NFP in the barrel
EUR/USD lost a foothold above key technical levels on Thursday, slumping below the 1.0800 handle after a miss in US Purchasing Managers Index figures sparked fresh fears of worsening economic data signaling the possibility of a hard landing scenario in the US economy.

🇬🇧/🇺🇸GBP/USD
GBP/USD accelerates its decline and flirts with 1.2750
The prevailing risk-off tone in the broader FX world weighs on the British pound and its peers, sending GBP/USD back to the area of four-week lows near 1.2750.

🇺🇸/🇯🇵USD/JPY
USD/JPY fades the rebound toward 150.00 after Japan's verbal intervention
USD/JPY is falling back toward 149.00 in Asian trading on Friday, quickly fading the rebound. Japanese verbal intervention lifts the Yen while risk aversion, amid Middle East geopolitical and US economic concerns, weighs on the pair ahead of the US Nonfarm Payrolls data.

🇦🇺/🇺🇸AUD/USD
AUD/USD attempts a tepid bounce above 0.6500 after hot Aussie PPI inflation
AUD/USD is back above 0.6500 after finding fresh demand on hot Australian Producer Price Index (PPI) inflation data. The pair also benefits from a pause in the US Dollar upswing but the further upside could be capped amid broad risk-aversion and ahead of US payrolls data.

🇳🇿/🇺🇸NZD/USD
NZD/USD falls to near 0.5950 due to increased risk-off mood ahead of US PMI
NZD/USD depreciates due to increased risk aversion ahead of the release of ISM Manufacturing PMI. Fed Chair Jerome Powell stated that a rate cut in September is "on the table." The Kiwi Dollar may struggle as the latest inflation data raises expectations of an RBNZ’s rate cut by October.

🇺🇸/🇨🇦USD/CAD
Canadian Dollar hesitates on risk appetite stutter
The Canadian Dollar (CAD) tripped and fell against the US Dollar (USD) on Thursday after a misprint in Purchasing Managers Index (PMI) figures flashed warning signs of lurking recession risk in the data, sparking a fresh round of risk-off market sentiment. Market flows reversed direction as investors pulled out of alpha-seeking instruments and piled into safe-haven assets like the Greenback.

🥇XAU/USD
Gold rises to near $2,450 due to increased risk aversion
Gold price edges higher to near $2,450 per troy ounce during the Asian session on Friday. Traders await upcoming US labor market data, including the Nonfarm Payrolls and Average Hourly Earnings data for July.

🛢OIL
WTI oscillates in a range around $78.00, bulls await a move beyond 200-day SMA
WTI is seen consolidating the overnight strong gains amid mixed fundamental cues. Middle East tensions act as a tailwind, though renewed USD buying caps the upside. The fundamental backdrop favors bulls and should lend support to the black liquid.

31/07/2024

MARKET UPDATES

🇪🇺/🇺🇸EUR/USD
EEUR/USD holds gains above 1.0800 ahead of Eurozone inflation data
EUR/USD stays firm above 1.0800, snapping the two-day losing streak in European trading on Wednesday. The further upside, however, appears elusive, as traders prefer to wait for the Eurozone inflation data and the Fed policy decision before placing fresh bets.

🇬🇧/🇺🇸GBP/USD
GBP/USD holds below 1.2850, all eyes on Fed rate decision
The GBP/USD pair remains on the defensive near 1.2840 during the early Asian trading hours on Wednesday. The markets might turn cautious ahead of the Federal Reserve Interest Rate Decision on Wednesday, followed by the Bank of England policy meeting on Thursday.

🇺🇸/🇯🇵USD/JPY
USD/JPY regains 153.00 after BoJ surprise-led whipsaw
USD/JPY is back on the bids above 153.00, as traders weigh the Bank of Japan's (BoJ) surprise 15 bps interest-rate hike. The pair saw wild swings on either side after the BoJ policy announcements. Governor Ueda's presser eyed.

🇦🇺/🇺🇸AUD/USD
AUD/USD stays heavy near 0.6500 after softer Australian core CPI data
AUD/USD remains under intense selling pressure near 0.6500 in Asian trading on Wednesday. The pair bears the brunt of softer RBA Trimmed Mean CPI inflation, which reinforced RBA rate cut bets. The Aussie ignored upbeat Australian Retail Sales and Chinese PMIs. Fed is next in focus.

🇳🇿/🇺🇸NZD/USD
NZD/USD recovers above 0.5900 as upbeat Chinese PMI data boost Kiwi
The NZD/USD pair extends recovery near 0.5915 Asian trading hours on Wednesday. The pair edges higher after the stronger-than-expected Chinese Manufacturing Purchasing Managers' Index data for July. .

🇺🇸/🇨🇦USD/CAD
USD/CAD trades around 1.3850 after retreating from eight-month highs
USD/CAD extends its losses after retreating from an eight-month high of 1.3865 on Monday, trading around 1.3840 during the Asian session on Wednesday. The recovery in crude Oil prices is supporting the commodity-linked Canadian Dollar against the US Dollar, as Canada is the largest crude exporter to the United States.

🥇XAU/USD
Gold bulls take a breather ahead of Fed interest rate decision
Gold price has paused its previous upswing in Asian trading on Wednesday, as buyers take a breather and gather pace ahead of the all-important US Federal Reserve policy announcements.

🛢OIL
WTI recovers further from nearly two-month low, climbs to $75.25 amid Middle East worries
West Texas Intermediate US crude Oil prices tick higher during the Asian session on Wednesday and moves away from the lowest level since June 6, around the $74.25 area touched the previous day.

30/07/2024

MARKET UPDATES

🇪🇺/🇺🇸EUR/USD
EUR/USD oscillates in a range above 100-day SMA ahead of German/EU data
EUR/USD consolidates in a range above a two-and-half-week low touched on Monday. September Fed rate cut bets keep the USD bulls on the defensive and act as a tailwind. A sustained break below 100-day SMA is needed to support prospects for further losses.

🇬🇧/🇺🇸GBP/USD
GBP/USD remains depressed around mid-1.2800s, holds above multi-week low set on Monday
GBP/USD edges lower on Tuesday, though the downside remains cushioned. A softer risk tone benefits the safe-haven USD and exerts pressure on the pair. Traders now look to the key central bank event risk before placing fresh bets.

🇺🇸/🇯🇵USD/JPY
USD/JPY retakes 154.00, as USD capitalizes on dour mood
USD/JPY has recovered ground to reattempt 154.00 in the Asian session on Tuesday. The pair is back on the bids, as the US Dollar capitalizes on the risk-off mood while Japanese Yen traders reposition ahead of Wednesday's BoJ policy decision.

🇦🇺/🇺🇸AUD/USD
AUD/USD keeps range near 0.6550 amid risk aversion
AUD/USD is holding its range near 0.6550 in Asian trading on Tuesday. Broad risk-aversion-led US Dollar uptick and mixed Australian housing data keep the pair on the edge. The focus now shifts to top-tier US jobs data ahead of Wednesday's Australian CPI data.

🇳🇿/🇺🇸NZD/USD
NZD/USD trims losses below 0.5900, investors await Fed rate decision
The NZD/USD pair recovers some lost ground around 0.5880 during the Asian trading hours on Tuesday. However, the upside of the pair might be limited as traders prefer to wait on the sidelines ahead of the Federal Reserve monetary policy meeting on Wednesday.

🇺🇸/🇨🇦USD/CAD
USD/CAD slips below mid-1.3800s, downside potential seems limited amid falling Oil prices
The USD/CAD pair turns lower following an Asian session uptick to the 1.3865 region on Tuesday and for now, seems to have snapped a nine-day winning streak to its highest level since November 2023. The intraday downtick drags spot prices back below mid-1.3800s in the last hour, though any meaningful corrective decline still seems elusive.

🥇XAU/USD
Gold bull-bear tug-of-war in play, focus shifts to key EU/ US events
Gold price is treading water below $2,400 early Tuesday, as Gold traders turn to the sidelines ahead of a bunch of upcoming high-high macro news from the US and Europe.

🛢OIL
WTI extends its decline below $76.50 amid China demand concerns, eyes on Fed rate decision
West Texas Intermediate, the US crude oil benchmark, is trading around $76.25 on Tuesday. WTI price extends its decline to the lowest level since June 10 amid the Federal Reserve's rate cut expectation in September and China’s weaker demand.

29/07/2024

MARKET UPDATES

🇪🇺/🇺🇸EUR/USD
EUR/USD moves above 1.0850 toward the upper boundary of channel
EUR/USD advances for the third consecutive day, trading around 1.0860 during the Asian session on Monday. The analysis of the daily chart shows that the pair is positioned within a descending channel, suggesting a bearish bias.

🇬🇧/🇺🇸GBP/USD
GBP/USD: The first upside target to watch is above 1.2800
The GBP/USD pair trades on a stronger note around 1.2875 during the early European trading hours on Monday. The softer Greenback amid the hope of an interest rate cut by the US Federal Reserve in September provides some support to the major pair.

🇺🇸/🇯🇵USD/JPY
USD/JPY remains pressured around 154.50 as hawkish BoJ bets offset risk-flows
USD/JPY stays under pressure around 154.50 early Monday, as heightened odds of a BoJ rate hike this week offset Middle East worries and a broad US Dollar softness. All eyes remain on the BoJ and Fed policy announcements, which are due later this week.

🇦🇺/🇺🇸AUD/USD
AUD/USD defends bid above 0.6550 amid renewed Mid-East tensions
AUD/USD is holding recovery gains above 0.6550 in the Asian session on Monday. The US Dollar slips amid increased Fed rate cut bets and a firmer risk tone while the Aussie weighs escalating Middle East tensions ahead of an action-packed week.

🇳🇿/🇺🇸NZD/USD
NZD/USD trades with positive bias amid softer USD, lacks follow-through beyond 0.5900
The NZD/USD pair attracts some dip-buyers near the 0.5880 area during the Asian session on Monday amid a softer US Dollar, albeit lacks bullish conviction. Spot prices currently trade around the 0.5900 round figure and remain well within the striking distance of the lowest level since early May touched last Thursday.

🇺🇸/🇨🇦USD/CAD
USD/CAD depreciates to near 1.3800 due to higher crude Oil prices
USD/CAD pulls back from an eight-month high of 1.3849 recorded in the previous session, trading around 1.3820 during the Asian hours on Monday. The rise in Oil prices supports the Canadian Dollar and puts downward pressure on the pair.

🥇XAU/USD
Gold looks north as a Big week kicks in
Gold price is building on its previous recovery early Monday, having defended the key support at $2,360 on a weekly closing basis. Gold buyers fight back control heading into the critical central banks’ bonanza week, with the US Fed – the main event risk for the bright metal.

🛢OIL
WTI sticks to modest intraday gains amid Middle East tensions, remains below $77.00 mark
West Texas Intermediate US crude Oil prices kick off the new week on a positive note and reverse a part of Friday's heavy losses back closer to the lowest level since June 10, around the $75.75 region touched the previous day.

03/07/2024

MARKET UPDATES

🇪🇺/🇺🇸EUR/USD
EUR/USD stays weak below 1.0750 ahead of EU inflation data
EUR/USD is trading pressured below 1.0750, halting its three-day winning streak on Tuesday. The extended US Dollar recovery coupled with a softer risk tone undermines the pair, as traders brace for EU inflation data, US jobs report and Fed Chair Powell's speech later in the day.

🇬🇧/🇺🇸GBP/USD
GBP/USD remains confined in a range near 1.2650 ahead of key US events
GBP/USD stays defensive near 1.2650, extending its struggle early Tuesday. Bets for a BoE rate cut in August act as a headwind amid a modest US Dollar recovery. Traders prefer to wait on the sidelines ahead of the US jobs data and Fed Chair Powell's appearance.

🇺🇸/🇯🇵USD/JPY
USD/JPY advances further above 161.50, eyes on possible FX intervention, Powell
USD/JPY extends upside above 161.50 early Tuesday. The renewed US Dollar uptick provides some support to the pair. However, expectations about Japanese FX market intervention to prevent the Yen depreciation could cap the gains in the major. US data, Powell's speech awaited.

🇦🇺/🇺🇸AUD/USD
AUD/USD trims losses to retake 0.6650 after RBA Minutes
AUD/USD is paring losses to retest 0.6650 in Asian trading on Tuesday after the RBA's June policy meeting Minutes showed that the board left the door ajar for a rate hike if required. The pair's upside could be limited due to the US Dollar strength ahead of Powell.

🇳🇿/🇺🇸NZD/USD
NZD/USD seems vulnerable near mid-0.6000s, lowest since May 15 amid stronger USD
The NZD/USD pair comes under some renewed selling pressure during the Asian session on Tuesday and momentarily slides below mid-0.6000s for the first time since mid-May.

🇺🇸/🇨🇦USD/CAD
USD/CAD holds above 1.3700 on stronger US Dollar, higher US Treasury yields
The USD/CAD pair gains ground near 1.3735 during the early Asian session on Tuesday. The rebound of the pair is bolstered by the stronger US Dollar and higher US Treasury bond yields. Nonetheless, the upside of the pair might be limited as supply fears of crude oil in the second half of the year might lift the commodity-linked Loonie.

🥇XAU/USD
Gold buyers take out $2,330 hurdle ahead of US jobs data, Powell
Gold price is looking to build on the previous upswing in the Asian session on Tuesday. Gold buyers, however, could turn cautious heading into the key US JOLTs Job Openings data and US Federal Reserve Chair Jerome Powell’s speech later in the day.

🛢OIL
WTI gains ground above $83.50 on geopolitical risks, summer demand optimism
West Texas Intermediate, the US crude oil benchmark, is trading around $83.60 on Tuesday. The rise of the WTI price is bolstered by renewed fears of Middle East geopolitical risks and expectations of rising summer fuel demand.

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