USD in the spotlight: latest news

The USD/CAD exchange rate has dropped over 2.6% from its monthly high, breaking below a multi-month uptrend. Bears are now aiming for a multi-year support level close to the swing low from 2025.

U.S. stocks experienced a strong opening, driven by gains in the technology sector. Investors are eagerly anticipating the earnings reports from the Magnificent 7 companies and the upcoming interest rate decision from the Federal Reserve.

The Japanese yen weakened following comments from Bessent, as market attention shifts to the upcoming Federal Open Market Committee (FOMC) meeting.

The USD/JPY forecast remains neutral as the pair has seen a recovery of approximately 1%. This rebound followed remarks made by Scott Bessent, prompting further focus on the upcoming Federal Open Market Committee (FOMC) meeting.

The US dollar has declined once more against the Mexican peso, falling below the previous session's hammer, which indicates a potential weakness that can be leveraged in trading.

The Pound to US Dollar exchange rate (GBP/USD) decreased during Wednesday's European session, retreating from its recent highs, which were the strongest levels seen in nearly a year.

The US Dollar Index has bounced back from its lowest levels since February 2022 as the Federal Reserve's decision approaches. Comments from former President Trump have added volatility to the markets. Despite the recovery, the technical outlook for the dollar remains bearish.

EUR/USD is experiencing renewed selling pressure due to overbought conditions and a rebound in the US Dollar. Despite this drop, the outlook remains to be assessed.

The bullish outlook for the EUR/USD pair remains strong. Recent market activity has been lively, with investors continuing to invest in precious metals.

The Pound to Dollar exchange rate (GBP/USD) reached new four-month highs, surpassing 1.3680, as the dollar weakened significantly due to concerns over yen intervention and other factors.

US stock futures are mixed as the two-day Federal Reserve meeting begins, with Dow futures down 0.64%, while S&P futures are up 0.38% and Nasdaq futures have increased by 0.70%. In Europe, the FTSE has risen by 0.30% and the DAX is up by 0.40%. Overall, stocks are experiencing a rise as the week unfolds.

The Japanese Yen (JPY) is gaining strength against the US Dollar (USD) on Tuesday, driven by increasing intervention risks and widespread weakness in the dollar.

The U.S. Dollar Index is facing ongoing pressure as traders remain cautious regarding U.S. policy risks and respond to the recent Consumer Confidence report from the Conference Board. This report highlighted significant concerns among consumers, impacting market sentiment and contributing to the continued sell-off of the dollar.

The Euro remains stable against the US Dollar on Tuesday, trading at 1.1870, as it approaches a four-month high of 1.1907.

The EUR/USD pair shows strong upward momentum, largely due to the growing selling pressure on the US Dollar, which is facing ongoing concerns. A test of the 1.2000 level appears increasingly probable as these dynamics continue to unfold.

The GBP/USD exchange rate approached a four-month high on Tuesday, buoyed by persistent weakness in the US Dollar. However, the market displayed a lack of significant momentum.

The US dollar has weakened due to fears of a government shutdown and uncertainty surrounding the Federal Reserve, causing the DXY to drop below a critical support level. This situation has heightened interest in GBP/USD and EUR/USD, which may be poised for potential breakouts.

The Dollar Index (DXY) has decreased by about 1.5% this month, marking its lowest point since September 18.

The AUD/USD pair experienced a significant increase of over 4.7% from its monthly low, with bullish traders now targeting key resistance levels close to three-year highs.

The GBP/USD exchange rate started the week positively, reaching a new six-month high due to widespread selling pressure on the US dollar.

Senior Technical Strategist Michael Boutros emphasizes key levels to watch on the USD Majors and commodity charts as the week begins and the month concludes.

The Japanese yen strengthened in early European trading as traders remained vigilant for possible intervention in the foreign exchange market. The USD/JPY pair experienced notable fluctuations during this period.

The recent increase in gold prices has strengthened the positive outlook for the metal, driven by ongoing weakness in the US dollar and indications of intervention in the yen, along with broader market trends.

The Euro to Dollar exchange rate (EUR/USD) has experienced a significant rebound due to growing worries regarding US policymaking, capital flows, and the credibility of the Federal Reserve's actions.

On Friday, the US dollar experienced a decline against various currencies globally, including the Canadian dollar. The current trend indicates that the focus is primarily on the performance of the US dollar.