Find out the main drivers for this week
USD/JPY slides to the 2-weeks low
Bulls could not hold yesterday's gains for USD/JPY. The pair has fallen below the weekly pivot at 111.70 and tested the support at 111.54 (200-day SMA). Strong bearish pressure may break this level and pull the pair lower in the direction of the next weekly pivot support at 111.30. If buyers take over the market, they will try to move USD/JPY up to to the resistance at 112.34. If we look at indicators, parabolic SAR still shows the upward movement for the pair.
The price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.