Alfi Haekal

USD/JPY remains confined in a narrow trading band through the Asian session on Wednesday.Intervention fears seem to cap the pair amid the uncertainty over the Fed’s rate-hike path.The Fed-BoJ policy divergence acts as a tailwind as traders keenly await the FOMC minutes. The USD/JPY pair continues wi

USD/CAD remains pressured towards 1.3200, after posting the biggest daily loss in a week, as market players trace bearish options market signals amid early Wednesday. That said, a one-month risk reversal (RR) of the USD/CAD pair, a gauge of the spread between the call and put options, prints the fir

Canadian Dollar trades slightly higher supported by Oil price rises on supply fears. Canadian Manufacturing PMI comes out lower than expected in June though the response from price action is limited. Traders are in two minds about the outlook for monetary policy from the Bank of Ca

NZD/USD advances with support from RBA’s hawkish hold and weakness in the US dollar during the US holiday session.Uncertain economic outlook in the US amid mixed economic data and recession fears increases the likelihood of rate hikes.New Zealand’s QSBO improves in Q2 but highlights weakening demand

USD/MXN falls to fresh YTD lows of 17.0156, with MXN benefiting from thin trading volumes due to US Independence Day celebrations.Despite robust US data – including firm Durable Good Orders, Consumer Confidence, and Q1 GDP reports – a weaker-than-expected inflation report and ISM Manufacturing PMI d

NZD/USD stays on the front foot for the fourth consecutive day, firmer near two-week high.Clear upside break of two-month-old descending resistance line, upbeat oscillators favor Kiwi buyers.Convergence of 200-EMA, descending trend line from May 19 restricts immediate upside. NZD/USD justifies the p

USD/JPY experienced minor losses due to threats of Japanese Forex intervention and US Independence Day trading lull.Technical indicators suggest the potential for a pullback, with the RSI nearing the overbought threshold and a negative RoC.If USD/JPY retraces, key supports stand at 144.00 and 1

GBP/USD lacks upside momentum after refreshing one-week high.Clear upside break of 50-SMA, three-week-old falling trend line joins upbeat oscillators to keep Pound Sterling bullish.Cable sellers need validation from 200-SMA to retake control. GBP/USD bulls take a breather amid the early hours of Wed

GBP/JPY struggles to break the 184.00 mark amid potential Japanese FX intervention, ending Tuesday with near flatline movement.Negative divergence in RSI suggests a potential for a pullback, with the Tenkan-Sen line inching closer to price action.Key levels to watch include resistance at 186.34 and

China announced abrupt controls on exports of some gallium and germanium products, effective from August 1, which in turn has ramped up a trade war with the United States. The same could potentially cause more disruption to global supply chains, reported Reuters. “Chinese industry players also fear

EUR/JPY retreats from YTD highs following the Japanese Finance Minister’s intervention threats, ending Tuesday’s session down by 0.47%.The pair maintains its uptrend but struggles to break decisively above the 158.00 mark, raising concerns about further downside potential.Key supports and resistance