Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary:.DXY was little changed at 96.73 as it saw some selling pressure after marking a 14-month high in morning trade. President Donald Trump has repeatedly called for a weaker USD in a bid to help US exporters, his recent trade policies, including the imposition of import tariffs on some Turkish goods, have had the opposite effect of strengthening the world’s #1 Reserve currency. PE
The major pairs the close Friday in NY
- The US Dollar (.DXY) Index trades little changed at 96.73
- EUR/USD: +0.12% to 1.1359
- GBP/USD: +0.06% to 1.2703
- USD/CHF: +0.35% to 0.9969
- USD/JPY: +0.18% to 110.88
- USD/CNY: -0.80% to 6.879
- USD/TRY: -1.93% to 5.837.
- AUD/USD: +0.25% to 0.725
At the open in Asia
Note: US Dollar (.DXY) strength could pause to refresh during the first part of this week with EUR strengthening to 1.147-1.155 and the Japanese Yen to 110.0-109.5. The broader trend looks supportive of continued USD strength in the weeks ahead.
EUR (Euro) at 1.143: The single currency has risen to 1.145. There is important resistance in the 1.147-1.155 area. We preference that the resistance holds not, leading to a Southside move to 1.13 towards the end of this week.
The US Dollar (.DXY) Index at 96.17: .DXY sees support at 95.75-95.50, barring that .DXY could rise to 97 during this week. A clear break below 95.50 possible in here.
USD/JPY (Dollar Yen) at 110.54): The pair is trading below 111.0-111.2, and while it does in the next few session looks it looks Bearish to 110.0-109.5, this is important support. A clear break below this mark will be Bearish and not seen yet.
EUR/JPY (Euro Yen) 126.38): The pair seed resistance at 126.6-127.0, and that mark may cap the Northside this week. The support is at 124.62 which must be broken to confirm Bearishness to 1.23-1.22.
Sterling (GBP)1.2742: The Great British Pound’s broader trend is Bearish to 1.25-1.24 ahead now, but, this week may see a move to resistance at 1.285.
Have a terrific week