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EUR/USD Price Forecast: Bears retain control below 200-SMA on H4; break of 1.1400 awaited
Forex
Gold rises cautiously as Fed hike bets, US‑Iran tensions and bullish USD cap gains
The latest US tariffs on Canadian goods may be relatively modest in size, but the market reaction suggests investors are focusing on something bigger than the immediate trade impact. USD/CAD advanced after US President Donald Trump signed three proclamations imposing 50% tariffs on about $20 billion of Canadian exports, including alcohol, dairy products, motor vehicles, cement, hockey equipment and electrical machinery.
The Aussie Dollar started a fresh increase from 0.6865 against the US Dollar. AUD/USD climbed above 0.6900 and 0.6950 to enter a positive zone.
The USD/INR has inched higher at the start of the new week, nearing two-month lows as oil prices hit $88 per barrel on the Brent benchmark.
GBP/CAD has spent the past few weeks tracing out a clean five-wave rally on the 1-hour chart, and now the pair looks to be working through the correction that typically follows a completed impulse. Here's a breakdown of the structure and what it could mean for the path ahead.
EURUSD currency pair recently reversed from the resistance level 1.1465 (top of earlier wave a) intersecting with the 50% Fibonacci correction of the downward impulse from June.
Silver Price Forecast: XAG/USD bulls flirt with descending trend-line hurdle, above $57.00
PBOC sets USD/CNY reference rate at 6.7917 vs. 6.7948 previous
New Zealand consumer prices rose 1.5% in the June quarter, lifting the annual inflation rate to 4.1%. While that was above the 4.0% increase expected by economists, it fell just short of the Reserve Bank of New Zealand's 4.2% forecast released in May.
Gold edges lower to near $4,000 as US-Iran tensions fuel inflation worries
GBP/JPY Price Forecast: Uptrend pauses, bulls eye 219 breakout
The Canadian dollar was the weakest-performing major currency on Monday after softer-than-expected inflation data reduced expectations of further Bank of Canada policy tightening. Cooling headline and core inflation diminished Canada's relative yield advantage, weighing on the Loonie despite the central bank leaving its policy rate unchanged at 2.25%.
USD/CHF Price Forecast: Reclaims 0.8100 as market structure is bullish
Silver has bounced from a key confluence support zone, but confirmation above wedge resistance is needed before a broader recovery can challenge higher resistance levels.
It's been a brutal four-month stretch for Gold and that statement really can be spanned back to six months, as it was January 29th when the metal had set its current all-time-high just below $5600/oz. The initial pullback from that move was violent, with prices testing just above the $4400 handle a few days later, but that move was bid as late-stage buyers posed a bounce, and that move inevitably topped out at a lower-high of $5400/oz in early-March.
Gold edges lower as Middle East conflict boosts the US Dollar
Stronger dollar put additional pressure on gold markets in today's trading session.
Silver Price Forecast: XAG/USD attempts to stabilize above $55.00
Rising Treasury yields provided support to the American currency.
