FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%

USD rises ahead of Fed meeting


7 July 2021

The Australian dollar fell against the US dollar on Tuesday. RBA Interest Rate Decision was not hanged, and it was 0.1%. At the beginning of the day, the Aussie was buoyed on the RBA, but then the price couldn’t withstand the risk-off mood losing over 100 pips afterwards. The reason could be linked to the weakening economic optimism concerning the US after the ISM Services PMI dropped below forecast to 60.1 in June. Also weighing on the market sentiment were the fears of the COVID strains that got magnified on chatter over the strains’ vaccine resistance. Some Australian states are likely to extend the restrictions for one more week as the nation jostles over inoculations. The local support level can be seen at 0.7475. A breakout below could take the pair towards 0.7415.

SELL 0.7470/TP 0.7415/SL 0.7488

EUR/USD

The European currency fell against the US dollar on Tuesday due to the general strengthening of the US dollar. The EUR was under pressure from poor German data. The country published May Factory Orders, which rose by 54.3% year over year and fell by 3.7% month over month. The Economic Sentiment in the Eurozone was down to 61.2. On a positive note, May Retail Sales in the Eurozone rose 9% year over year, which was better than expected. The US published the ISM Services PMI, which resulted at 60.1 in June, worse than market forecasts. Markit published the final Services PMI for the same month. The index was revised down to 64.6. On Wednesday, Germany releases May Industrial Production, but the focus will be on the FOMC Meeting Minutes at 21:00 EEST. The local support level can be seen at 1.1808. A breakout below could take the pair towards 1.1725.

SELL 1.1795/TP 1.1725/SL 1.1818

DowJones30

US stocks were lower in Tuesday afternoon trading, led by declines in the Dow Jones Industrial Average as investors took profits in some of the groups tied most closely to economic growth. The 10-year Treasury yield fell 7.2 basis points, its lowest level since February, and registered 1.36% as investors reacted to the potential slowdown in the economic growth. Traders will be listening for more clues on the direction of the Federal Reserve’s monetary policy when it releases its latest meeting minutes Wednesday afternoon, which could be a catalyst for a move in both bonds and stocks.

BUY $34480/TP $34850/SL $34356

#source

Related

Oil Is About to Update Its Highs
Oil Is About to Update Its Highs

The key support factor is market expectations of a stable demand for energies in the future. In particular, it’s the report from the International Energy Agency, which...

28 Sep 2021

Forex and Cryptocurrency Forecast for September 27-October 01, 2021
Forex and Cryptocurrency Forecast for September 27-October 01, 2021

The Fed did not make any changes to its monetary policy at its meeting on September 21-22. However, the regulator made it clear in its commentary that...

27 Sep 2021

Stock Futures Soft Ahead Of Powell’s Speech
Stock Futures Soft Ahead Of Powell’s Speech

Futures in the United States and Europe are trading mildly lower today. Stock traders welcoming the view that a near-term withdrawal of quantitative easing reflects...

24 Sep 2021

Stock Futures Up Ahead Of Fed Meeting
Stock Futures Up Ahead Of Fed Meeting

Futures in the United States and Europe are trading higher today, as investors focus on China’s Evergrande whirlwind, which has even overshadowed the Federal...

22 Sep 2021

Gold's sudden glow in a falling market
Gold's sudden glow in a falling market

Gold's ability to resist the general downtrend speaks to investor confidence that global central bank policies will remain soft enough to avoid triggering a global downward asset sell-off spiral...

21 Sep 2021

Forex and Cryptocurrency Forecast for September 20-24, 2021
Forex and Cryptocurrency Forecast for September 20-24, 2021

The dollar continues to strengthen, and the EUR/USD pair moves south. Starting on Monday September 13 at 1.1810, it ends the five-day run at 1.1730. The movement...

20 Sep 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.