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USD/CAD holds steady above 1.3770, Carney announces support measures for lumber industry
The USD/CAD pair flat lines near 1.3770 during the early Asian session on Wednesday. The Canadian Dollar (CAD) trades unchanged against the US Dollar as crude oil prices decline, and data show a widening of the Canadian trade deficit, which was close to expectations.
Fxstreet
Tue, Aug 5
Forex Today: Trade is expected to remain centre stage. The RBI is seen on hold.
The US Dollar (USD) extended its auspicious start to the week into Tuesday, posting decent gains amid ongoing debates over the White House’s trade policy, speculation about additional Federal Reserve rate cuts, and uncertainty over who will succeed Chair Jerome Powell.
Fxstreet
Tue, Aug 5
Canadian PM Carney promises support for Canadian lumber industry
Canadian Prime Minister Mark Carney announced on Tuesday that the Canadian government would extend favorable loan guarantees to the Canadian softwood lumber industry, which is grappling with tariff impacts that are dragging down exports to the US.Fxstreet
Tue, Aug 5
GBP/USD edges higher as US data weakens, Fed credibility questioned
The GBP/USD advances during the North American session, registers modest gains of over 0.07% following last week’s dismal jobs report and soft data reported earlier. At the time of writing, the pair trades at 1.3305.Fxstreet
Tue, Aug 5
EUR consolidates in quiet trade – Scotiabank
Despite firm Spanish and Italian Services and Composite PMI data for July and mild upward revisions for the German data, downward revisions for the French PMIs resulted in minor downward revisions to the Eurozone Services and Composite data for last month, Scotiabank's Chief FX Strategists Shaun OsbFxstreet
Tue, Aug 5
Silver Price Forecast: XAG/USD recovery stalls at $37.40 ahead of US services data
Silver (XAG/USD) is holding quite well the moderate US Dollar’s recovery, but the precious metal remains stalled in no-man’s land above $37.00, with the 4-hour RSI at the 50 level, highlighting a lack of clear momentum.
Fxstreet
Tue, Aug 5
USD/JPY recovers sharply to near 147.70 as Japanese Yen underperforms
The USD/JPY pair trades 0.35% higher to near 147.70 during the European trading session on Tuesday. The pair gains after attracting significant bids after refreshing the 10-day low around 146.60 earlier in the day.
Fxstreet
Tue, Aug 5
USD/JPY: Major support at 145.80 is unlikely to come into view – UOB Group
US Dollar (USD) could break below 146.60 against Japanese Yen (JPY); the major support at 145.80 is unlikely to come into view. In the longer run, sharp drop in USD has scope to extend, but any decline may not break below 145.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Tue, Aug 5
AUD/USD falls slightly as US Dollar trades steadily ahead of US Services PMI
The AUD/USD pair edges lower to near 0.6450 during the European trading session on Tuesday. The Aussie pair ticks down as the US Dollar (USD) gains ground, following the soft United States (US) Nonfarm Payrolls (NFP)-driven sell-off.Fxstreet
Tue, Aug 5
AUD/USD: Likely to trade in a sideways range between 0.6455 and 0.6495 – UOB Group
Australian Dollar (AUD) is likely to trade in a sideways range between 0.6455 and 0.6495. In the longer run, downward momentum is slowing; a breach of 0.6520 would indicate that AUD is not breaking below 0.6405, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Tue, Aug 5
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