USD/JPY: The dollar dipped against dollar on Tuesday as traders braced for an aggressive rate hike from the U.S. The Canadian dollar was trading 0.4% lower at 1.2950 to the greenback, after touching its weakest since May 16 at 1.2974.Immediate resistance can be seen at 1.2984 (23.6%fib), an upside break can trigger rise towards 1.4256 (Higher BB).On the downside, immediate support is seen at 1.2879 (38.2%fib), a break below could take the pair towards 1.2854 (5 DMA). The loonie weakened even as money markets fully priced in a three-quarter percentage point rate increase by the Bank of Canada at its next policy announcement on July 13, which would be the biggest hike since August 1998, and bet that rates would peak near 4% next year. counterpart on Tuesday on lingering jitters that the Federal Reserve, which began a two-day policy meeting, would be unable to control inflation without triggering a recession. USD/CAD: The Canadian dollar extended recent declines against its U.S. After rising against the dollar, the pound fell 1.1% to $1.1993, its lowest level since March 2020.Immediate resistance can be seen at 1.2135(38.2%fib),an upside break can trigger rise towards 1.2181(5DMA).On the downside, immediate support is seen at 1.2000 (Psychological level), a break below could take the pair towards 1.9029 (23.6%fib). Sturgeon said she was nearly ready to give more details on how Scotland's devolved parliament could move ahead with a new independence referendum without the consent of the British government. GBP/USD: Sterling fell below $1.20 against dollar for the first time since the start of the pandemic after Scotland's First Minister Nicola Sturgeon said she was set to share details on plans for a new independence referendum. Immediate resistance can be seen at 1.0499(38.2%fib),an upside break can trigger rise towards 1.0587(50%fib).On the downside, immediate support is seen at 1.0395(23.6%fib), a break below could take the pair towards 1.0361(Lower BB). On the data front, German investor sentiment rose slightly in June, roughly in line with market expectations, as financial market experts were less pessimistic about the economy, though it remained in negative territory due to numerous risks. Focus is on the Fed's policy decision due on Wednesday, with many expecting a big three-quarter-percentage point rate hike following hot inflation print last week. inflation data fuelled bets that the Fed would become more aggressive than indicated by its forward guidance. Investors remained on edge, ahead of the outcome of a Federal Reserve policy meeting due late on Wednesday. interest rate hikes weighed in single currency. Looking Ahead - Events, Other Releases (GMT)ĮUR/USD: The euro held near recent lows against dollar on Tuesday as worries over aggressive U.S.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |