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US dollar analysis: GBP/USD, USD/CAD and EUR/USD outlook – Forex Friday

Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will focus on the US dollar analysis, and provide updates on the GBP/USD, USD/CAD and EUR/USD outlook, before looking ahead to the next week. We maintain a bearish outlook on the US dollar and would favour looking for bullish setups on high-beta currencies.

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US Dollar Technical Analysis: EUR/USD, GBP/USD, USD/CAD

It was a feast and then famine week for USD bulls as the Dollar continued it’s advance in the early part of the week, only to give back the bulk of those gains on Friday after the release of Non-farm Payrolls.

EUR/USD outlook improves as US jobs point to peak Fed rates – FOREX Friday

So, the US jobs data was mixed and the probability of a rate hike in September fell to 13% from about 20% prior to the data release. Correspondingly, the US dollar and bond yields fell, gold rallied, and stocks stabilised somewhat.

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August 4, 2023 11:45 AM

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Dollar analysis: Gold and EUR/USD outlook in focus - Nonfarm Payrolls Preview

All eyes will turn to the US jobs report on Friday, as the market refocuses on Fed policy after the Fitch downgrade of US credit rating caused a risk off response in the markets, which sent the dollar and long-dated bond yields surging higher. The US dollar, gold and EUR/USD outlook could be impacted if we see a jobs report that deviates significantly from expectations.

Dollar outlook: DXY, USD/CHF and USD/JPY analysis ahead of CPI

While it is down now, the US dollar outlook is subject to change depending on the outlook of the data.

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USD/CAD outlook: All eyes on jobs reports – FOREX Friday

Welcome to another edition of Forex Friday, a weekly report in which we discuss selected currency themes mainly from a macro viewpoint, but we also throw in a pinch of technical analysis here and there. In this week’s shortened report, we will discuss the USD/CAD pair outlook, and look forward to next week’s key events affecting this pair.

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US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY

The US Dollar has continued to show strength and EUR/USD is testing a key spot of support at 1.0750. Can Dollar bulls continue to drive FX trends?

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US dollar forecast: No signs of reversal yet

Unlike equities, the FX markets are not so cheerful about US debt ceiling talks, with the greenback continuing to rise against risk-sensitive currencies like the AUD, GBP and EUR. But will the US dollar forecast turn more bearish moving forward?

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May 18, 2023 09:30 AM

Dollar forecast: USD loses more ground on peak inflation signs

We will have more US data in the form of retail sales and consumer confidence on Friday to impact the dollar forecast.

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April 13, 2023 10:31 AM

USD/JPY: Dollar likely to resume higher after slow start

Dollar was bouncing off earlier lows, supported by even more positive news – this time from the housing market.


FOMC minutes instant insight: A touch of hawkishness leaves a 50bps rate hike on the table

There is nothing in these FOMC minutes that should keep the central bank from raising interest rates “higher for longer” if US economic data continues to come in stronger than expected.

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February 22, 2023 02:21 PM

Markets mixed as investors eye bigger events

Investors will be looking forward to a busier session on Tuesday.

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February 20, 2023 08:07 AM

Dollar strengthens ahead of US retail sales

Investors are pricing in a higher terminal interest rate in the US


Will Powell disappoint dollar die-hards?

Futures markets now tally with many Fed policymakers for the first time this year, accepting the Fed's 'terminal rate' will be above 5%...

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February 7, 2023 08:57 AM
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The top 10 most traded currencies

Learn about the 10 most traded currencies like the dollar, euro, and yen and why forex traders prefer trading these major currencies.


Dollar could rebound as DXY tests major support

The EUR/USD, GBP/USD and commodity dollars could all fall back if sentiment towards risk remains subdued.

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December 21, 2022 06:29 AM
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Gold edges lower as focus turns to CPI, Fed

Traders are continuing to pay respect to the key $1800 resistance level.

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Technical Tuesday: S&P 500, Dollar Index, GBP/USD and Gold

In this week’s edition, we are getting technical on the Dollar Index, S&P 500, GBP/USD and gold


Dollar rebounds on China, faces busy week

Are we about to see a more profound dollar recovery?

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November 28, 2022 11:56 AM
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Technical Tuesday: EUR/USD, GOLD and Russell

In this week’s edition, we discuss the dollar, EUR/USD, gold and the Russell index.


Dollar index clings onto bull trend ahead of CPI

CPI is way too high for the Fed to ease off the gas.

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November 10, 2022 07:10 AM