Forex

The Federal Reserve interest rate decision may keep USD/CAD above the 50-Day SMA (1.2854) as the central bank is expected to deliver another 75bp rate hike.

The New Zealand Dollar fell as an overnight risk-off move supported the US Dollar. APAC traders are bracing for several high-impact events over the next 24 hours, including Australian inflation…

AUD/USD may mirror the price action from last month as the exchange rate struggles to hold above the 50-Day SMA (0.6969).

US stocks sank Tuesday amid growing recession fears after the IMF said the global economic outlook has darkened and US consumer confidence fell to its lowest level since February 2021.

Energy concerns trump all else for the Euro.

Crude oil plunged more than 30% off the highs with the decline approaching multi-year trend support. The levels that matter on the WTI weekly chart into the July close.

Rates markets are fully discounting a 75-bps rate hike by the Federal Reserve this week, with a 13% chance of a 100-bps rate hike.

The Euro has continued to weaken against major currency pairs as disappointing earnings and gas shortages drive European stocks lower.Oil and gas rise.

Gold prices rebounded off key technical support with the Fed rate decision kicking off major event risk into the monthly close. Levels that matter on the XAU/USD charts.

The US Dollar is bouncing from a support test ahead of tomorrow's FOMC rate decision. EUR/USD carries breakdown potential as AUD/USD aims for recovery.