
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
As a result, USD/JPY tested the support at 110.80 but surged after. The pair has touched highs of July 20 near 111.60. The weak USD will let the pair trade within 110.80-111.60. The rise of the USD will pull the pair above 111.60. The next resistance is far, at 112.65.
In early trading, USD/CAD reached the resistance at 1.3090 (the pivot point). However, the weakness of the USD pulled the pair back. The pair is trying to recover. The strengthening of the USD will pull the pair back to the pivot point. However, the resistance is too strong. 50-day MA lies at that level. Canadian GDP data will be out at 15:30 MT time. If the actual data is greater than the forecast, the pair will go down. The support is at 1.2990.
That’s all for today! Follow market news with FBS!
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted
Manager will call your number
Next callback request for this phone number
will be available in {time}
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.