The U.S. dollar rebounded due to month-end buying after recent declines that pushed it to its weakest in more than a year, as traders awaited economic data that could determine the pace of the Federal Reserve’s imminent easing cycle.
The Dollar gained 0.3% against the Yen in the last session. The Williams indicator indicates an oversold market.
USD/JPY gained 0.3% in the last session.
The Williams indicator points to an oversold market.
Support: 143.0833 | Resistance: 145.6233
The Canadian dollar strengthened to a five-month high against its U.S. counterpart as oil prices rose and major railroad operators focused on restoring service. The loonie traded 0.3% higher, after rising 0.8% to end previous week.
Cryptocurrency investors have been increasingly purchasing Bitcoin -related exchange-traded products amid concerns over potentially looming interest rate cuts in September. Digital asset investment products saw weekly inflows worth $533 million from August 18th to 24th
Nvidia is likely to report that its second-quarter revenue more than doubled. But investors used to its blockbuster results will be expecting even more from the artificial intelligence chip giant, as any miss on expectations could hurt companies shares.
The U.S. Federal Reserve’s dovish shift will likely give the Bank of Japan some respite in its battle to tame a weak yen, but could complicate its efforts to raise interest rates if the two central banks’ diverging policy paths keep markets jittery.
The Dollar-Yen pair traded sideways in the last session. The MACD is giving a positive signal.
Support: 142.5233 | Resistance: 147.4233
