The USD is trading higher but faces resistance at DXY mid-99, while oil-linked currencies benefit from rising crude prices amid US-Iran tensions. Markets are awaiting US employment data and central bank policy decisions from the ECB and BoJ.
Key Takeaways
- 1.The USD remains firm but the DXY index is currently capped by resistance in the mid-99 range, which aligns with a technical gap from early April.
- 2.Oil prices are rising due to renewed tensions between the US and Iran, supporting commodity-linked currencies like MXN, NOK, and BRL.
- 3.CAD fundamentals are softening due to weak GDP data, but technical indicators suggest the recent USD rise against the CAD may be stalling.
Table of Contents
- Overview
- FX Market Update
- USDCAD (1.3820)
- EURUSD (1.1648)
- GBPUSD (1.3464)
- USDJPY (159.45)
- TODAY'S CALENDAR
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Authors
Shaun OsborneEric Theoret
Securities
DXYUSDCADEURUSDGBPUSDUSDJPY
Themes
Central Bank Policy DivergenceGeopolitical Tensions in the Middle EastTechnical Resistance in USD Gains
Regions
North AmericaEuropeUKUnited StatesCanadaUnited Kingdom