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AUD/USD Price Forecast: Upside bias intact despite mixed momentum
A new trading week is underway, and the Canadian dollar continues to show signs of weakening momentum. This can be seen in recent USD/CAD price action, with the pair gaining nearly 0.7% over the last four trading sessions.
Softer ECB rate expectations weaken the Euro-Dollar's support, even as Scotiabank sees signs that bearish momentum is fading. Foreign exchange analysts at Scotiabank see the Euro to US Dollar exchange rate (EUR/USD) settling into consolidation after last week's sell-off, with the recovery constrained by weaker interest-rate.
Pound Sterling Price News and Forecast: GBP/USD loses grip on 1.34 as Fed hawks stay in charge
Falling Treasury yields did not put pressure on the American currency today.
US retail diesel set a record of $6.31 on September 16 and matched it on Friday, up 68 percent from a year ago and from about $3.76 before the war. Crude is up about 52 percent over the same period.
In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Swiss Franc (USD/CHF), Gold (XAU/USD), Crude Oil (WTI), Bitcoin (BTC/USD), S&P 500 (SPX500), Nasdaq (NDX), and Dow Jones (DJI). These are the levels that matter on the technical charts into the weekly open.
Gold, Silver, and the $6 Diesel the Fed sees that WTI doesn't show
Euro struggles against US Dollar as hawkish Fed outlook weighs
Gold has started the new week on the back foot after ending a three-week losing streak with gains over the final two sessions of last week. The rebound came as the dollar's rally stalled and oil prices retreated, while a broader improvement in risk appetite lifted major equity indices and extended Bitcoin's recovery to $85,000.
USDJPY rose on Monday, offsetting initial negative signal from Friday's strong upside rejection (long upper shadow of Friday's daily candle / potential bull-trap over 157.52 Fibo barrier) and keeping near-term bulls in play.
Weekly forex forecast: EUR/USD, XAU/USD, GBP/USD, USD/JPY, Bitcoin and more [Video]
Silver remains trapped between $60 support and $70 resistance as elevated rates keep momentum subdued.
USD/JPY outlook: Bulls regain traction on improving daily studies/weekly bullish engulfing
Gold: CTA whipsaws but support holds – TD Securities
