This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This website is operated by Moneta Markets Ltd, which is not authorised or regulated by the UK Financial Conduct Authority (FCA) and does not offer or promote services to UK residents. Access to this website is restricted in the UK and the content is not intended for distribution to, or use by, any person located in the UK. If you believe you have reached this website in error, please exit the page now
Please note that Moneta Markets operates this website and its services are not directed at residents of your jurisdiction.
The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
If you have arrived here in error, we kindly advise you to exit the site.
Continue to Site
The US Dollar slipped ahead of key economic data releases, with traders positioning cautiously as markets await fresh signals on inflation, labor strength, and the Fed’s policy path. Risk sentiment was mixed across majors as commodity currencies reacted to shifting macro expectations and China-linked momentum.
The US Dollar Index slipped toward 99.20 as traders positioned cautiously ahead of major US data releases. The move reflects softer momentum in the dollar as the market waits for clarity on inflation and labor trends.
Geopolitical Risks: Limited influence for now, with attention shifting toward macro signals.
US Economic Data: Upcoming NFP, ISM, and PCE readings are the primary catalysts driving the latest USD pullback.
FOMC Outcome: Markets continue to price in December rate cuts, weighing on the dollar.
Trade Policy: No fresh trade headlines, but lingering global uncertainties remain mildly USD-supportive.
Monetary Policy: A more dovish Fed outlook contrasts with steadier policy tones abroad, contributing to DXY softness.
Trend: Short-term trend is turning bearish below 100.00.
Resistance: 100.00 / 100.40
Support: 99.20 / 98.80
Forecast: ias remains lower unless US data surprises to the upside.
Market Sentiment: Tilted bearish as rate-cut expectations increase.
Catalysts: US PCE, ISM, and jobs data will determine whether DXY sees a deeper pullback.
AUD/USD held firm despite weak Q3 GDP, supported by the RBA’s hawkish stance and steady demand for the Aussie near a multi-week high. Markets are reassessing the likelihood of further RBA tightening.
Geopolitical Risks: Low impact, with domestic data and China indicators taking priority.
US Economic Data: Softer USD supports AUD resilience ahead of US releases.
Trade Policy: Stable trade environment helps commodity currencies maintain traction.
Trend: Bullish bias with higher lows forming.
Forecast: Upside likely if RBA tone stays firm and USD remains pressured.
Market Sentiment: Positive as traders view GDP weakness as temporary.
Catalysts:Australia CPI, China PMI, and RBA commentary.
China’s Services PMI eased to 52.1, slightly below expectations, suggesting slower momentum in the services sector. The reading keeps Chinese growth concerns in focus.
Geopolitical Risks: Mild geopolitical tension continues to influence China-linked sentiment.
US Economic Data: Stronger USD data could amplify pressure on CNY.
FOMC Outcome: Dovish Fed limits USD/CNY upside but doesn’t fully offset China’s soft data.
Trend: Neutral with a slight upward tilt.
Resistance: 7.16 / 7.18
Support: 7.12 / 7.10
Market Sentiment: Cautious due to mixed China growth signals.
Catalysts: China inflation, liquidity measures, and PBOC daily fixing.
NZD/USD strengthened toward 0.5750 as upbeat China PMI figures and Fed rate-cut expectations improved risk appetite. The kiwi benefitted from correlation to China’s economic signals.
Geopolitical Risks: Stable risk environment supports NZD flows.
US Economic Data: Softer USD ahead of major data releases boosts NZD.
FOMC Outcome: Markets expect the Fed to cut sooner, lifting the kiwi.
Trend: Turning bullish with improving momentum.
Resistance: 0.5780 / 0.5820
Support: 0.5700 / 0.5660
Forecast: Potential for a breakout higher if risk sentiment stays firm.
Market Sentiment: Improving, supported by China data.
Catalysts: US data, dairy auctions, China macro readings.
AUD/JPY remained below 102.50 after weak Australian GDP reduced growth sentiment, while the pair continues to track broader Asian risk flows.
Geopolitical Risks: Regional tensions remain mildly supportive of JPY safety flows.
US Economic Data: Little direct impact, though USD softness indirectly influences cross-flows.
FOMC Outcome: Dovish Fed helps risk sentiment but not enough to lift AUD/JPY.
Trade Policy: Japan-Australia trade signals remain stable with limited impact.
Trend: Bearish below 102.50.
Resistance:102.80 / 103.20
Support: 101.80 / 101.40
Forecast: Further downside possible unless Australian data stabilizes.
Market Sentiment: Mixed, leaning bearish for AUD/JPY.
Catalysts: Australia CPI, BoJ commentary, Asian equity performance.
Overall, market direction now hinges on the upcoming US data slate, which is likely to set the tone for both USD performance and broader risk sentiment. Traders should stay alert to volatility as rate-cut expectations and cross-asset flows continue to shift.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
