Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary:.DXY surrendered an overnight gainer. With today’s decline, USD is down 0.8% since last Wednesday, tracking its 3rd loss running. .DXY climbed at the start of the overnight session, but saw resistance near marks from Friday morning. The .DXY marked a high during the European session, having spent the past few hours in a retreat from that level. Then it slipped to a session low after President Trump complained to donors about the Fed’s rate hikes. The modest loss in USD has put the Euro on track for its 4th straight gainer while emerging market currencies have had a mixed showing Vs USD. PE
The major pairs the close Monday in NY
- EUR/USD: +0.19% at 1.1459
- GBP/USD: +0.23% at 1.2783
- USD/CHF: -0.27% to 0.9930
- USD/JPY: -0.23% to 110.23
- USD/CNY: -0.29% to 6.854
- USD/TRY: +1.11% at 6.080
At the open in Asia
The US Dollar (.DXY) Index at 95.55 has been coming down after testing at 97. The index is in a near term channel and could come down to 95.00-94.50 now. There is support at 95.50, if holds may prevent a fall below 95.50 and drive it higher.
EUR (Euro) at 1.1518 moved up on USD weakness, while trading below 1.1550 see a dip, or a rise to 1.1600-1.1625 may happen.
USD/JPY (Dollar Yen) at 110.00: The pair is trading at support, a clear break below 110, the sees 109.30. The weekly looks Bearish in here. .
EUR/JPY (Euro Yen) at 126.73: The pair has support at 124 and resistance at 127 on the weekly. If 127 holds could see a fall to 124 near term.
Sterling (GBP) 1.2824: The Great British Pound has risen above 1.28, while that holds a move to 1.290-1.295 can happen. Looking at the 3-Day and weekly chart, medium term looks Bearish with Southside to 1.26 and lower on the cards.