US futures rose sharply overnight as traders reacted to upbeat big tech earnings. In a statement, Apple said that its revenue rose by 11% in the June quarter, pushing its stock to an all-time high of $400. The company made $59.7 billion in revenue versus the estimated decline of $52.1 billion. Its earnings per share rose to $2.58. Facebook, too, had a great quarter, with earnings rising by 11% to $18.7 billion. Its daily active users rose to 1.79 billion from the previous 1.7 billion while the average revenue per user rose to $7.05. Amazon, too, had a great quarter, with its revenue rising to $88.91 billion. 

The Japanese yen declined to the lowest level since March this year as traders reacted to the strong employment and industrial production data from the country. According to the bureau of statistics, the country’s unemployment rate declined to 2.8% from the previous 2.9%. Also, the industrial production rose by 2.7% in June after falling by 8.9% in the previous month. The production for July was expected to rise by 11.3% as the country continued to reopen. The office will release the construction orders data, household confidence, and housing starts data later today.

The Australia dollar rose slightly as traders reacted to the strong manufacturing and non-manufacturing PMI data from China. According to China Logistics, the country’s manufacturing sector continued to expand, with the PMI jumping to 51.1 from the previous 50.9. Analysts were expecting the PMI to ease slightly to 50.7. On the other hand, data from Australia disappointed, with the PPI falling by 1.2% in the second quarter. Later today, we will receive the Nationwide house price index data from the UK, inflation numbers from the EU, personal income and spending data from the US, and the Michigan consumer confidence data.



The EUR/USD pair is trading at 1.1892, which is its highest level this week. On the four-hour chart, the price is above the 50-day and 100-day exponential moving averages while the signal and main lines of the MACD have continued to rise. Also, the RSI has moved to the highest level in more than a year. Therefore, the trend of the pair is likely to remain bullish. However, as we start a new month, there is a possibility that a pullback will happen.




The GBP/USD pair rose to an intraday high of 1.3125, which is also the highest level this week. The pair’s accumulation and distribution indicator has moved to the highest level since March while the RSI has moved to the overbought level of 82. The price is slightly above the 50-day and 100-day EMAs. Therefore, the pair is likely to continue rising as bulls target the next resistance level at 1.3150.




The AUD/USD pair is trading at 0.7210, which is the highest it has been this year. The price is above the ascending trend line that is shown in white. Also, it is above the short and medium-term moving averages while the RSI has moved relatively higher. The DeMarker indicator has also resumed the upward trend. Therefore, the pair is likely to continue rising as bulls target the next resistance at 0.7250.


General Risk Warning for FX & CFD Trading. FX & CFDs are leveraged products. Trading in FX & CFDs related to foreign exchange, commodities, financial indices and other underlying variables, carry a high level of risk and can result in the loss of all of your investment. As such, FX & CFDs may not be appropriate for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should become aware of all the risks associated with FX & CFD trading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall we have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to FX or CFDs or (b) any direct, indirect, special, consequential or incidental damages whatsoever.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

AUD/USD weaker ahead of RBA’s monetary policy decision

The Aussie is weak, despite receding dollar’s demand and the robust performance of US indexes. Coronavirus developments hit the commodity-linked currency ahead of the RBA.


Gold: This just might be as good as it gets for gold

The price of gold is trading at $1,975 within a range of between $1,960.54 and $1,986.76 at the time of writing, virtually flat on the day in consolidation having eeked out a fresh all-time high.

Gold News

USD/JPY struggling to retain the 106.00 level

The USD/JPY pair traded as high as 106.46 on Monday but struggles to retain gains above the 106.00 level amid lack of dollar’s demand.


Ethereum on its way to regaining $400 while BNB hit a new high at $22.5

BTC/USD is more stable than other coins right now but has been able to recover from its crash towards $10,500. It is currently trading at $11,369 and faces very little resistance until $14,000.

Read more

WTI drops below $40 on demand worries, OPEC+ output increase

Crude oil prices posted losses last week and seem to be struggling to shake off the bearish pressure on Monday. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $39.85, losing 1.5% on a daily basis.

Oil News

Forex Majors