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1 week ago | 
forex.com | David Scutt |Matt Simpson
USD/JPY closes below 142.00 despite strong U.S. retail sales AUD/USD near key resistance ahead of Aussie jobs report ECB guidance on euro strength may rattle FX markets Thin liquidity heightens risk of sharp moves across majorsSummary USD/JPY and AUD/USD sit at key levels on the charts heading into what is traditionally a period of poor market liquidity ahead of Easter.
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1 week ago | 
forex.com | David Song |Matt Simpson |David Scutt |Matt Weller CFA
Canadian Dollar Outlook: USD/CADUSD/CAD drops towards the monthly low (1.3829) as the Bank of Canada (BoC) keeps its benchmark interest rate at 2.75%, and the exchange rate stage further attempts to test the to test the November low (1.3821) as struggles to retain the advance from the start of the week.
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1 week ago | 
forex.com | David Song |David Scutt |Matt Simpson
US Dollar Outlook: USD/CHFUSD/CHF gives back the advance from earlier this week to keep the Relative Strength Index (RSI) in oversold territory, but the exchange rate may consolidate over the remainder of the week as it appears to be defending the monthly low (0.8100). Keep in mind, USD/CHF snapped a long-term range as it pushed below the 2023 low (0.8333) during the previous week, and the weakness in the exchange rate may persist as long as the RSI holds below 30.
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1 week ago | 
forex.com | James Stanley |Fawad Razaqzada |Matt Simpson |David Scutt
U.S. Dollar bulls have had an open door to run a pullback from oversold conditions but so far this week, they’ve failed to push through short-term resistance levels. The larger drivers remain with Chair Powell’s speech later today and then the European Central Bank rate decision tomorrow, ahead of the Good Friday holiday and the long weekend in the United States. Last week saw the US Dollar go oversold on the weekly chart for only the second time in the past seven years.
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1 week ago | 
forex.com | Matt Simpson |David Scutt
View related analysis: Tentative Signs of a US Dollar Rebound Ahead of Powell speech US Dollar Index, USD/CAD, AUD/CAD Analysis EUR/USD, AUD/USD, S&P 500 Analysis: COT Report AUD/USD Stages a V-Bottom Recovery Australian Dollar (AUD/USD) Technical AnalysisThe V-bottom on the Australian dollar’s daily chart is undeniably impressive—though perhaps not quite as striking as the one seen on the New Zealand dollar (NZD/USD).
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1 week ago | 
forex.com | David Scutt |Matt Simpson
Retail sales seen rising 1.3% on auto-related strength Control group may lift 0.6%, boosting GDP nowcasts USD/CAD, USD/CHF show reversal signals ahead of key events Powell unlikely to shift tone, but price action couldSummary The end of U.S. economic exceptionalism seems to be almost uniformly expected, creating a dangerous scenario for markets that have run hard in anticipation should new information arrive that questions the prevailing narrative.
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1 week ago | 
forex.com | David Scutt |Matt Simpson
Kiwi at fresh YTD highs after clearing major resistance Aussie nearing breakout, uptrend capping for now Strong link to China proxies: HSI, copper, silver Sentiment towards U.S. trade policy remains key driverSummaryIt’s been another big session of buying across the antipodean currencies in Asia, continuing the pattern seen in recent days. The Kiwi continues to outperform, sending NZD/USD to fresh YTD highs. The Aussie is not far behind, sitting just beneath key resistance.
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1 week ago | 
forex.com | Matt Weller CFA |Matt Simpson |David Song |David Scutt
Canadian Dollar and Bank of Canada Key Points Canadian CPI came in well below expectations this morning at 2.3% y/y in March. The data slightly favors a BOC hold this week in my view, though a proactive 25bps rate cut cannot be ruled out. There is some early evidence that USD/CAD may be carving out a near-term bottom heading into tomorrow’s BOC meeting.
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1 week ago | 
forex.com | David Scutt |Matt Simpson
USD/CHF and USD/JPY hit fresh lows last week before stalling on Monday Oversold momentum signals and stabilising yields flag squeeze risk USD/CHF eyes potential morning star reversal after doji candle USD/JPY holding above key support near 142.00 with rebound potentialSummary It’s been well documented that higher U.S. Treasury yields are no longer providing a boost to the U.S. dollar by encouraging capital inflows from abroad.
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1 week ago | 
forex.com | David Song |Matt Simpson
Australian Dollar Outlook: AUD/USDAUD/USD stages a four-day rally as it extends the series of higher highs and lows from last week, but the recovery in the exchange rate may turn out to be temporary should it struggle to test the monthly high (0.6389). Keep in mind, the recent rise in AUD/USD pulled the Relative Strength Index (RSI) out of oversold territory, and the exchange rate may stage a larger recovery as US President Donald Trump pauses the reciprocal tariffs for 90 days.
