Bitcoin (BTC) steadies around $113,500 at the time of writing on Thursday after falling 3% so far this week. On-chain data shows that weakening demand and profit-taking continue to weigh on BTC.
Momentum indicators are turning flat; Euro (EUR) is likely to trade in a range between 1.1630 and 1.1680. In the longer run, tentative increase in downward momentum could lead to EUR edging lower and testing 1.1595, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
FX option expiries for Aug 21 NY cut at 10:00 Eastern Time via DTCC can be found below.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending gains for the third successive session and trading around 98.30 during the European hours on Wednesday.
FX option expiries for Aug 20 NY cut at 10:00 Eastern Time via DTCC can be found below.
USD/JPY consolidated during Tuesday’s session, ending the day with minimal losses of 0.14%, with the pair trading near familiar levels, below the 20-day Simple Moving Average (SMA) at 147.86. At the time of writing, the pair trades at 147.61, virtually unchanged as Wednesday’s Asian session begins.
The US Dollar (USD) had a positive day on Tuesday, as traders remained cautious ahead of the release of the FOMC Minutes on Wednesday and the pivotal Jackson Hole Symposium later this week. Furthermore, geopolitics has returned to the forefront of price action drivers.
Sui (SUI) continues to trade in red, trading below $3.60 at the time of writing on Tuesday and slipping below a key support level, suggesting a bearish trend ahead. On-chain data shows that SUI’s Spot Taker Cumulative Volume Delta (CVD) is turning red, reflecting bearish dominance.
The Pound is retracing some losses on Tuesday with the US Dollar pulling back from recent highs amid a moderately positive market sentiment, and investors looking at Wednesday’s UK CPI reading that might give further reasons to BoE hawks.The GBP/USD pair has bounced up from intra-day lows at 1.3485
FX option expiries for Aug 19 NY cut at 10:00 Eastern Time via DTCC can be found below.
The USDCHF ended Monday’s session with minimal gains, yet it consolidated around the 0.8070 figure for the third straight day. At the time of writing, the pair trades at 0.8073, virtually unchanged.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding around and trading around 98.00 during the early European hours on Monday.
FX option expiries for Aug 18 NY cut at 10:00 Eastern Time via DTCC can be found below.
EUR/USD reverses its course, climbs on Friday, ignoring solid US Retail Sales data due to market participants still pricing in a Federal Reserve (Fed) rate cut in September. The pair trades at 1.1702, up 0.47%.
The current Euro (EUR) price movements are likely part of a consolidation phase between 1.1585 and 1.1705, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The US Dollar recovery attempt seen on Thursday was capped below 148.00, and the pair has resumed its downtrend, extending losses below 147.00 on Friday, amid a broad-based US Dollar’s weakness.With the impact of the strong US PPI fading, investors' hopes that the meeting between Trump and Putin mig
FX option expiries for Aug 15 NY cut at 10:00 Eastern Time via DTCC can be found below.
The GBP/USD retreats during the North American session, down 0.21% after a hot inflation report in the United States (US) prompted traders to pare rate cut bets by the Federal Reserve at the September meeting. At the time of writing, the pair trades at 1.3545 after hitting a daily peak of 1.3594.
FX option expiries for Aug 14 NY cut at 10:00 Eastern Time via DTCC can be found below.
Silver price rises over 1.63% on Wednesday, boosted by broad US Dollar weakness as traders had fully priced in a rate cut by the Federal Reserve at next month's meeting.
The US Dollar (USD) intensified its weakness on Wednesday, receding to two-week lows as investors continued to price in further rate cuts by the Fed, while steady jitters surrounding the Fed’s independence also weighed on sentiment.
FX option expiries for Aug 13 NY cut at 10:00 Eastern Time via DTCC can be found below.
The current price action still appears to be part of a consolidation phase; Pound Sterling (GBP) is likely to trade between 1.3395 and 1.3465.
There is a chance for Euro (EUR) to test, and potentially dip below 1.1585 against US Dollar (USD); any further decline is unlikely to reach 1.1540.
FX option expiries for Aug 12 NY cut at 10:00 Eastern Time via DTCC can be found below.
The EUR/USD edges lower on Monday, down 0.26% as the Greenback is bought by traders ahead of another inflation report in the United States (US) coming Tuesday.
The US Dollar (USD) added to Friday’s advance amid the generalised prudence among market participants ahead of the publication of the US inflation data, while a potential Trump-Putin meeting also helped with the cautious environment.
The current price movements are likely part of a 1.1610/1.1670 range trading phase. In the longer run, Euro (EUR) is likely to trade with an upward bias; it is unclear for now if it can reach 1.1720, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.