In a dramatic turn of events, the European Union and the United States have reached a preliminary tariff agreement after months of tense negotiations and threats of an escalating trade war. This blog unpacks the negotiation timeline, key deal terms, internal EU reactions, and the broader geopolitical implications of this...
The NZDUSD started the week under pressure, with the move lower beginning near the 200-hour moving average, which sat at 0.6061 at the time. Monday’s high reached 0.6058, but sellers leaned against that level, triggering a move to the downside. The decline extended into Tuesday and Wednesday, with the pair...
Bank of America highlights that tightening election polls in Japan and incoming US tariffs raise fiscal and political risks, making the yen vulnerable. They stay long USD/JPY targeting 152 and prefer EUR/JPY and AUD/JPY as additional ways to position for yen weakness. Key Points: Japanese Election Risk: Early polls suggest...
The USDJPY has moved above the 38.2% retracement of the 2025 trading range, measured from the January 10 high to the April 22 low. That retracement level comes in at 147.135, and it’s aligned with a key swing area between 147.014 and 147.338. The pair has extended to a high...
USD/JPY is near the best levels of the day, up 120 pips to 147.47. The pair has been underpinned by rising Treasury yields this month and that continues to be the case today. Meanwhile, US economic data has been good, including the latest non-farm payrolls report. The Fed doesn’t look...
The EURUSD continues to find solid support in the 1.1663 to 1.1691 zone, a key technical floor that dates back to April–November 2021. The pair has repeatedly tested this area this week, with buyers stepping in on each dip, reinforcing its significance. A break below this support zone would be...
The USDCAD spiked higher on the tariff news at the start of the day (see the spike higher on the 5-minute chart above). However, the USDCAD moved lower following stronger-than-expected Canadian jobs data. Buyers stepped in at earlier lows in the Asian session, but quickly found its footing as buyers...
The USDCHF continues to struggle with upside momentum, as the pair remains capped below the 0.8000 level, a key ceiling that has held since June 30. This week, buyers once again tested the swing area between 0.7986 and 0.7994, but the rally stalled just shy of the 38.2% retracement, with...
The GBPUSD has been steadily moving lower in today’s trading. The decline has been fueled by weaker UK economic data and a broader wave of US dollar strength, as markets respond to the inflationary implications of higher U.S. tariffs. Additionally, rising concerns over slower global growth have supported safe-haven flows...
The USDCAD moved lower after the stronger-than-expected Canadian jobs data: Canada’s June employment report showed stronger-than-expected job growth, with total employment rising by 83.1K, well above the 0.0K expected and the prior month’s 8.8K gain. The increase was driven primarily by part-time employment, which surged by 69.5K, while full-time jobs...
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