Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Greenback dives in Asia on Fed rate views
On Thursday, the evergreen buck sagged in Asia because Fed minutes unveiled an increased debate about another rate lift in 2017 as well as the political backlash against Donald Trump's recent remarks on racist confrontations in Virginia definitely put pressure on the US currency.
The US dollar index, estimating the greenback’s value versus a trade-weighted basket of six crucial currencies, dived 0.16% trading at 93.26.
The currency pair USD/JPY reached 109.78, descending 0.37%, AUD/USD hit 0.7937, heading north 0.15%.
Meanwhile, Japan posted July’s trade balance figures with a surplus of about ¥492 billion, which is wider than the expected ¥392 billion, along with a 16.3% profit in imports, a bit weaker than the 17% revenue observed, and a 13.4% soar in exports, missing the 13.6% soar seen.
In Australia, the employment change demonstrated +27,900 jobs in July, surpassing 20,000 jobs actually expected for an unemployment outcome of 5.6% as observed.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.