Greece remains the center topic for all traders. German Chancellor Angela Merkel said that the deadline for Greece’s bailout runs out at midnight on July 1. Still, the negotiations are expected to continue in the days ahead. EUR/USD is trading in 1.1250/1.1135 area. Support is at 1.1050 and 1.0960. Resistance is at 1.1280, 1.1380 and 1.1465.
USD/JPY met support line since summer 2014. The key support is at 122.00, further support levels lie at 121.85 and 121.55. Strong resistance is at 123.20. Uncertainty about Greece maintains demand for the yen as a safe haven and limits the pair’s advance. In addition, comments from the Bank of Japan’s policymakers have diminished the likelihood of further monetary stimulus in Japan. On Wednesday, July 1, the US will release ADP employment report at 12:15 GMT and ISM manufacturing PMI at 14:00 GMT. The forecasts are quite optimistic.
GBP/USD is sideways in range between 1.5660 and 1.5810. On the downside there are several support levels – 1.5638 and 1.5550. Resistance, however, will come only at 1.5930 (June 18 high). Britain will release manufacturing PMI at 08:30 GMT, and the Bank of England’s Governor Carney will speak at 09:30 GMT.
AUD/USD rose to 0.7725, but met resistance of the 100- and 55-period MAs on H4. Aussie was supported by monetary easing in China. Reserve Bank of Australia Governor Glenn Stevens showed no new concerns over the Chinese economy on Tuesday. A bunch of Chinese and Australian statistics is due early on Wednesday. The forecasts are rather positive. Further resistance is at 0.7765 and 0.7800. Support is at 0.7650.
USD/JPY met support line since summer 2014. The key support is at 122.00, further support levels lie at 121.85 and 121.55. Strong resistance is at 123.20. Uncertainty about Greece maintains demand for the yen as a safe haven and limits the pair’s advance. In addition, comments from the Bank of Japan’s policymakers have diminished the likelihood of further monetary stimulus in Japan. On Wednesday, July 1, the US will release ADP employment report at 12:15 GMT and ISM manufacturing PMI at 14:00 GMT. The forecasts are quite optimistic.
GBP/USD is sideways in range between 1.5660 and 1.5810. On the downside there are several support levels – 1.5638 and 1.5550. Resistance, however, will come only at 1.5930 (June 18 high). Britain will release manufacturing PMI at 08:30 GMT, and the Bank of England’s Governor Carney will speak at 09:30 GMT.
AUD/USD rose to 0.7725, but met resistance of the 100- and 55-period MAs on H4. Aussie was supported by monetary easing in China. Reserve Bank of Australia Governor Glenn Stevens showed no new concerns over the Chinese economy on Tuesday. A bunch of Chinese and Australian statistics is due early on Wednesday. The forecasts are rather positive. Further resistance is at 0.7765 and 0.7800. Support is at 0.7650.
Recommended Content
Editors’ Picks
AUD/USD pressures as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.