FXStreet
72892 Articles
FXStreet is a website visited by over 1 million users nowadays, deliver the most advanced information and tools such as rates and charts, market analysis, forex news, economic calendar or webinars together with a wide variety of sources of information for traders to access the market in a conscious way.
FXStreet is made up of a team of approximately 60 people, 30 of them working from the head office in Barcelona. The rest of the staff is working from around the world.
Forex Today: US Dollar struggles as risk flows dominate markets
Here is what you need to know on Wednesday, August 5:
Wed, Aug 5
Equities: Rally extends on reduced downside fears – Danske Bank
Danske Research Team describes a strong global equities session driven by reduced downside risks rather than upgraded growth expectations. Easing concerns over the Iran conflict and the AI bubble compressed risk premia, lifting global equities close to a 15% year‑to‑date return.
Wed, Aug 5
Oil: Market looks through Hormuz risks – MUFG
Michael Wan at MUFG notes Brent has dropped below US$80 as hopes rise for a deal to reopen the Strait of Hormuz.
Wed, Aug 5
British Pound grinds higher above 1.3450 ahead of US ADP Employment release
The GBP/USD pair posts modest gains near 1.3455 during the early European session on Wednesday, bolstered by softer US economic data and cooling US-Iran tensions. Traders brace for the US ADP Employment and ISM Services Purchasing Manager Index (PMI) reports, which are due on Wednesday.
Wed, Aug 5
US Dollar Index Price Forecast: Bears eye two-month lows around 99.40
The US Dollar Index (DXY) edges lower for the second consecutive day on Wednesday, after failing to consolidate above the 100.00 level on Monday.
Wed, Aug 5
Euro: Mild upside toward 1.1565 cap against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlights that EUR/USD firmed to 1.1529, with short‑term momentum turning slightly higher. They see scope for the Euro to edge up but doubt an intraday break of 1.1565, with 1.1545 as nearer resistance and 1.1515/1.1500 as supports.
Wed, Aug 5
Cardano Price Forecast: ADA capped at $0.20 warns of over 15% downside
Cardano (ADA) price is trading in the red on Wednesday, reversing after the recent 25% recovery was capped at $0.2000 the previous day. Speculative demand in ADA futures is easing, with Open Interest and funding rates declining.
Wed, Aug 5
AUD/USD Price Forecast: Steadies around 0.7050 as bullish bias prevails
AUD/USD moves little after registering over 0.5% gains in the previous day, trading around 0.7050 during the Asian hours on Wednesday. The technical analysis of the daily chart shows that the pair is remaining within the ascending channel pattern, suggesting a prevailing bullish bias.
Wed, Aug 5
BNB Price Forecast: Tests $602 resistance as bullish momentum builds
BNB (BNB), formerly known as Binance Coin, extends its gains, trading above $598 on Wednesday and approaching the key resistance zone. A decisive close above this barrier could strengthen the bullish outlook.
Wed, Aug 5
EUR/USD Price Forecast: Hawkish ECB bets back fresh upside
The Euro (EUR) trades marginally higher at around 1.1536 against the US Dollar (USD) during the European trading session on Wednesday.
Wed, Aug 5
New Zealand Dollar weakens below 0.5900 as Unemployment Rate jumps to highest since 2015
The NZD/USD pair weakens to near 0.5870 during the early European trading hours on Wednesday. The New Zealand Dollar attracts some sellers against the US Dollar (USD) after New Zealand’s unemployment rate climbs to the highest in 11 years.
Wed, Aug 5
Indian Rupee gives back mild gains after RBI leaves Repo Rate steady at 5.25%
The Indian Rupee (INR) surrenders mild gains after a strong opening against the US Dollar (USD), following the Reserve Bank of India’s (RBI) monetary policy decision.
Wed, Aug 5
Indonesian Rupiah remains stronger on strong domestic GDP
USD/IDR depreciates after registering minor gains in the previous day, trading around 17,970 during the Asian hours on Wednesday. The currency pair is under downward pressure as a combination of strong Indonesian economic performance and softening US Dollar (USD) demand weighs on the pair.
Wed, Aug 5
USD/JPY Price Forecast: Holds steady above 157.50 as bulls await 50-hour EMA breakout
The USD/JPY pair drifts lower during the Asian session on Wednesday and, for now, seems to have stalled this week's goodish recovery from the 155.25-155.20 region, or the lowest since May.
Wed, Aug 5
Swiss Franc gains as easing risk aversion weighs on US Dollar
USD/CHF extends its losses for the second successive day, trading around 0.8080 during the Asian hours on Wednesday.
Wed, Aug 5
India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.
Wed, Aug 5
India Reverse Repo Rate: 3.35%
Wed, Aug 5
Canadian Dollar hangs near one-week low as weak oil prices counter USD downtick
The USD/CAD pair trades with a positive bias for the fourth straight day and currently hovers around the 1.4070 region, or a nearly one-week high set the previous day.
Wed, Aug 5
EUR/JPY Price Forecast: Softens below 182.00 on intervention risks, bearish outlook prevails
The EUR/JPY cross trades in negative territory around 181.70 during the early European trading hours on Wednesday.
Wed, Aug 5
US President Donald Trump: We're having very productive talks with Iran
US President Donald Trump said that he had very productive talks with Iran, Fox News reported on Wednesday.
Wed, Aug 5
