Market Insights

DXY Approaching 2024 Highs — Demand for Dollar Grows

The Dollar Index (DXY) is once again testing the 105.70–106.00 zone. Strength is driven by expectations of a “hawkish pause” from the Fed and stable U.S. macro data. A strong dollar pressures emerging market currencies and commodity currencies.

EUR/USD Vulnerable — Downtrend Persists

The pair remains trading below 1.0750. Fundamentally — weak eurozone PMI, signs of German slowdown, cautious ECB remarks. Next target: 1.0650. RSI technical indicator points to oversold territory, but no reversal signal yet.

GBP/USD: Investors Await Bank of England Meeting

The pair fell toward 1.2700 after weak employment data. Rate holds are likely. Volatility expected ahead of the decision. Support level: 1.2670; resistance: 1.2775.

USD/JPY: Threat of Intervention Limits Rally

The pair refreshed yearly highs — above 157.50. Markets price divergence between Fed and Bank of Japan. However, Japan’s Ministry of Finance amplified rhetoric, hinting at possible intervention. Upside capped in the 158.00–158.50 range.

AUD/USD Under Pressure amid Commodity Demand Drop

The pair trades below 0.6600. China’s real estate sector remains pressured, constraining demand for Australian exports. Weak Australian retail data adds downward pressure.

NZD/USD: Weak Inflation Strengthens Rate Cut Expectations from RBNZ

The pair gravitates toward 0.6000. Recent data showed inflation slowing to 2.4%, increasing the odds of policy easing by the Reserve Bank of New Zealand.

USD/CHF: Limited Safe-Haven Pull as Pair Moves Sideways

The pair remains range‑bound between 0.8900–0.9000. The franc temporarily loses appeal as yields on US Treasuries rise. However, in a geopolitical shock, it could quickly strengthen.

USD/CAD Rises as Oil Dips and BoC Eases Rhetoric

Bank of Canada gives no signals of further tightening. Meanwhile, Brent prices fell below $78, adding pressure to CAD. Upside target: 1.3850.

EUR/JPY Cross Hits 17-Year High

Amid euro weakness and ultra-loose BOJ policy, EUR/JPY continues upward momentum, challenging 2008 levels. Technical pullback near 169.00–170.00 possible, but long-term trend remains bullish.

Forex Volatility May Surge Ahead of Fed Decision

Markets highly sensitive to Powell’s rhetoric. If hawkish signals persist — dollar gains. If dovish tilt — risky currencies (AUD, NZD, GBP) may rally sharply.