With an August 1 deadline for new U.S. trade deals approaching, markets are nervous that failure to finalize agreements could trigger steep tariffs. This uncertainty has undermined the dollar.The dollar’s drop (around 10% YTD) is benefiting U.S. multinationals—boosting earnings in companies like PepsiCo, Netflix, and 3M—suggesting some buyers believe current weakness is not yet a reason to buy USDInvestors are increasingly concerned about the U.S. fiscal deficit and mounting debtPolitical pressure on Federal Reserve Chair Powell has stirred doubts about the central bank’s autonomy. That, combined with expectations of future rate cuts, has reduced dollar appeal. US yields were lower. The Richmond Fed manufacturing index was also weaker at -20 versus -8 in June
Technically speaking:
EURUSD: The EURUSD initially chopped around the 50% midpoint near 1.1693 of July's trading range during the U.S. session, but then surged higher. The rally took the price above the highs from both yesterday and last week, as well as the 61.8% retracement of the July range. These key breakout levels fall between 1.1716 and 1.1725. Holding above that zone keeps buyers in control heading into the new session. On the topside, the next resistance zone is seen between 1.1753 and 1.1769. Move above it and the highs for the year starting at 1.1808 and then 1.1830 would become topside targets.
AUDUSD: The AUDUSD moved lower in the Asian Pacific session below the 100 hour moving average in the process.Then extended above the 200 hour moving average at 0.65319 and seemed to fail on that break too. However buyers reemerged, with the overall dollars selling, and push the pair sharply to the upside, extending above a swing area target between 0.6536 and 0.6542 in the process. The current price is trading at 0.6551. Staying above 0.6536-0.6542 in the new trading day would keep the buyers control with the next target at 0.6574 above that 0.6582 to 0.6588.
2 year yield 3.833%, -1.8 basis points.5 -year yield 3.85%, -2.3 basis points10 year yield 4.346%, -2.4 basis points30 year yield 4.918%, -1.9 basis points
Recall from last week, the 2, 10, and 30 year yields were toying with 4% for the two-year, 4.5% for the 10 year, and 5.0% for the 30 year.
Dow industrial average rose 179.37 points or 0.40% at 44502.44S&P index rose 4.02 points or 0.06% at 6309.62NASDAQ index fell -81.49 points or -0.39% at 20892.69Russell 2000 rose 17.62 points or 0.79% at 2248.75.
Crude oil for September fell $0.56 to $65.39.
Gold prices rose $33.98 to $3430.85 and the price of bitcoin rose $2185 to $119,622.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about investinglive americas fx news wrap 22 jul usd continues its fall for 2nd day this week was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Investinglive Americas FX news wrap 22 Jul: USD continues its fall for 2nd day this week )
Also on site :