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NZD/USD Price Forecast: Resumes the bullish trend and tests monthly highs around 0.5860
The New Zealand Dollar (NZD) resumed its broader bullish trend against the US Dollar (USD) on Monday, following a mild pullback over the previous two trading days.
Euro holds early recovery against US Dollar, focus is on ECB policy
The Euro (EUR) holds its early recovery move at around 1.1450 against the US Dollar (USD) during the European trading session on Monday.
Canadian Dollar: 1.3970 in Focus against US Dollar – Societe Generale
Societe Generale technical analysts highlight that USD/CAD failed to sustain a break above 1.4130, triggering a deeper pullback. The pair is drifting towards the 50-DMA and March peak near 1.3970, seen as key support.
Euro remains weaker against Canadian Dollar as German PPI falls in June
EUR/CAD remains in negative territory after paring daily losses, trading around 1.6030 during the early European hours on Monday. The currency cross depreciates as the Euro (EUR) struggles following the release of Germany’s Producer Price Index (PPI) data.
Silver Price Forecast: XAG/USD bulls await breakout through trend-line hurdle near $57.25
Silver (XAG/USD) sticks to its modest intraday gains during the early European session on Monday and currently trades just below the $57.00 mark, up over 1.50% for the day.
Euro: Hawkish ECB tone could limit downside against US Dollar – Commerzbank
Commerzbank’s Thu Lan Nguyen expects EUR/USD to see limited drivers from United States (US) data or Federal Reserve (Fed) communication this week, putting focus on the European Central Bank (ECB).
Forex Today: Oil prices rise further, keeping markets on edge
Here is what you need to know on Monday, July 20:
US Dollar: Growth data guide Fed expectations – BNY
BNY’s Geoff Yu notes that softer United States (US) inflation has eased pressure for a more hawkish Federal Reserve (Fed) path, shifting focus to S&P Purchasing Managers' Index (PMI) data for confirmation that growth remains resilient.
WTI Oil climbs to fresh one-month highs near $84.00 as Iran’s War escalates
Oil prices jumped on Monday as US and Iran hostilities escalated, threatening an all-out war, which keeps the Strait of Hormuz closed for sea traffic.
British Pound rebounds against Japanese Yen at the start of a UK data-packed week
The British Pound (GBP) snaps a two-day correction against the Japanese Yen (JPY) on Monday, rebounding to near 218.60 during the European trading session. The cross faced selling pressure in the past two trading days after profit-booking near multi-year highs at 219.61.
Japanese Yen: Losses limited near 162.75 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang highlights that USD/JPY retains an intraday upside bias, with resistance at 162.75 and major resistance at 163.00 unlikely to be threatened. Over 1–3 weeks, the pair is expected to stay within a 161.30–163.00 band.
US Dollar Index Price Forecast: Steadies above 100.50, with bullish bias intact above key support
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 100.75 in the early European trading hours on Monday.
Equities: AI and geopolitics pressure global stocks – Deutsche Bank
Deutsche Bank strategists highlight that rising Oil and gas prices, escalating US–Iran tensions and renewed doubts over the AI (Artificial intelligence) trade weighed on global equities.