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USD/CHF Price Forecast: Bulls reclaim 0.8100 after SMA bounce
The USD/CHF snaps two days of losses and rises by over 0.60% on Thursday after solid US jobs data. Also, buyers stepped in at key support at the 50-day Simple Moving Average (SMA) of 0.8052, pushing the pair back above the 0.8100 threshold.
Fxstreet
Thu, Aug 6
British Pound steadies despite strong US jobs data; up next NFP
The Pound Sterling holds firm against the US Dollar during the North American session on Thursday, after US jobs data reinforces the thesis that the labour market remains solid ahead of Friday’s Nonfarm Payrolls report. The GBP/USD trades at 1.3466, after bouncing off daily lows of 1.3404.
Fxstreet
Thu, Aug 6
Canadian Dollar holds above 1.4000 as US and Canada jobs data loom
USD/CAD rebounds on Thursday after briefly slipping below the key 1.4000 support level, as the US Dollar (USD) snaps a two-day losing streak with traders repositioning ahead of Friday's employment reports from the United States (US) and Canada.
Euro: Recovery stalls near 1.1550 resistance against US Dollar – Scotiabank
Scotiabank highlights that the Euro is slightly softer versus the Dollar after touching levels last seen in mid-June, with fundamentals still supportive as yield spreads turn. Spot has nearly converged with their fair value based on the 2-year Germany–US spread.
Fxstreet
Thu, Aug 6
The RBI held at 5.25% and India attracted $41 billion: Why the Rupee still faces a ceiling
The Indian Rupee (INR) has found local support against the US Dollar (USD), with USD/INR easing to around 95.10 following the Reserve Bank of India’s (RBI) decision to hold its benchmark repo rate steady at 5.25% for a fourth consecutive meeting.Fxstreet
Thu, Aug 6
EUR/USD Price Forecast: Buyers challenge 100-day SMA as momentum turns bullish
EUR/USD trades on the back foot on Thursday, snapping a two-day winning streak as the US Dollar (USD) steadies. Still, the near-term technical picture remains bullish following the late-July rebound from below 1.1400. At the time of writing, the pair trades around 1.1534, down 0.15% on the day.Fxstreet
Thu, Aug 6
Canadian Dollar: Gains hinge on 1.3970 against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is effectively flat versus the US Dollar (USD) but modestly outperforming other majors, trading close to their fair value estimate around 1.40.Fxstreet
Thu, Aug 6
New Zealand Dollar slips as safe-haven demand lifts the US Dollar
NZD/USD trades around 0.5880 on Thursday at the time of writing, down 0.10% on the day. The pair remains under pressure as renewed demand for the US Dollar (USD) emerges, with investors seeking safe-haven assets amid fresh geopolitical tensions in the Middle East.
Fxstreet
Thu, Aug 6
Mexican Peso: Carry flows outpace fundamentals – BNY
BNY’s Geoff Yu highlights that Mexican Peso (MXN) carry demand is surging ahead of Banxico’s decision, with MXN the best-bought currency on a weekly basis. However, weak volumes, deteriorating equity flows and only modest sovereign bond demand temper the story.Fxstreet
Thu, Aug 6
Japanese Yen: Retail flows reshape post-intervention dynamics – MUFG
MUFG notes that USD/JPY remains well below pre-intervention levels. Japanese retail traders entered the episode with a record short position in the pair and likely covered those positions during the intervention-led decline, partially offsetting official yen purchases.Fxstreet
Thu, Aug 6
GBP/JPY Price Forecast: 200-day SMA holds as downside risks linger
GBP/JPY trades in a narrow range on Thursday, with the British Pound (GBP) modestly outperforming the Japanese Yen (JPY). The Yen stays on the back foot for a third consecutive day, reversing part of the intervention-driven rally that briefly sent GBP/JPY below 210.00 at the start of the week.
Fxstreet
Thu, Aug 6
Indian Rupee: Lower oil and inflows support INR against US Dollar – OCBC
OCBC’s Christopher Wong and Sim Moh Siong highlight that the Reserve Bank of India's (RBI) decision to hold the repo rate at 5.25% while lowering inflation forecasts and nudging growth higher, alongside strong capital inflows, has put India’s balance of payments on track for a healthy surplus.Fxstreet
Thu, Aug 6
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