Daily Market Update

Daily Market Report 08/26/2026 EUR/USD ranged in the mid to the high 1.16s overnight. The EUR/USD pair struggles to capitalize on the previous day’s modest bounce from the weekly low, and trades with a negative bias through the early European session on Wednesday. Spot prices, however, hold above mid-1.1600s and remain well within striking distance of the highest level since May 14, touched last week, as traders await more cues about the US Federal Reserve’s (Fed) interest rate path. The focus will remain glued to the release of the US Personal Consumption Expenditures (PCE) Price Index later today and Fed Chair Kevin Warsh’s speech at the Jackson Hole Symposium on Friday. The Fed’s policy outlook will play a key role in influencing the near-term US Dollar (USD) price dynamics. In the meantime, the supportive fundamental backdrop is holding back traders from placing bearish bets on the EUR/USD pair. Expectations have shifted toward a policy hold at the September 15–16 FOMC meeting amid signs of cooling US price pressures and a sluggish labor market. In contrast, three sources told Reuters that European Central Bank (ECB) policymakers are ready to raise interest rates at their next meeting in September to contain the side effects of the Iran war. The divergent Fed-ECB outlooks, in turn, continue to lend some support to the EUR/USD pair The British Pound (GBP) pares gains against the US Dollar (USD) on Wednesday, with bears testing the bottom of the intra-week trading range at the 1.3620 area, after failure to breach resistance at 1.3660. US Dollar bulls, however, remain subdued, awaiting the release of July’s US Personal Consumption Expenditures (PCE) Price Index, due later today. GBP/USD trades just below 1.3620, holding a constructive bullish tone, although failure to extend gains beyond the 1.3660 area might trigger a deeper bearish correction. Momentum indicators show a moderately weaker upside traction, with the daily Relative Strength Index (14) near 65, after pulling back from overbought levels, and the Moving Average Convergence Divergence (MACD) indicator staying positive, altogether hinting at a positive trend. The Japanese Yen (JPY) trades higher against the US Dollar (USD) on Wednesday, with USD/JPY dropping 0.1% to near 159.00. The Asia-Pacific currency gains amid firm expectations that the Bank of Japan (BoJ) will hike policy rates by 25 basis points (bps) to 1.25% in the September meeting. The pair has retreated from recent highs and now sits under this short-term trend gauge, suggesting topside pressure, while the Relative Strength Index (RSI) around 44 leans slightly negative but is not oversold. With no nearby technical supports derived from the provided dataset, the pair appears vulnerable as long as it trades below 159.46, leaving price action driven by whether sellers can extend the decline or buyers manage to reclaim the EMA barrier. Source: FX Street

Daily Market Report 08/25/2026 EUR/USD ranged in the mid 1.16s overnight. The Euro (EUR) remains practically flat against the US Dollar (USD) on Tuesday, trading above 1.1650, at a relatively short distance from the three-month highs, at 1.1710 hit last week. The EUR/USD pair keeps drawing support from a soft US Dollar, which remains depressed, amid concerns about the Federal Reserve’s (Fed) independence in the aftermath of the US Treasury’s bond buyback plans. The EUR/USD is poised to consolidate further, as price action has failed to extend the market structure of higher highs and higher lows. Momentum shifted bullish, as the Relative Strength Index (RSI) shifted overbought, an indication that bulls are in charge. However, the path of least resistance for EUR/USD is for it to continue trading sideways. For a bullish resumption, the first resistance for EUR/USD is 1.1700. A breach of the latter will expose the 1.1750 psychological level, followed by the May 6 high at 1.1795, ahead of 1.1800. On further strength, the next stop is the April 17 swing high of 1.1849. The British Pound (GBP) remains practically flat for the second consecutive day against the US Dollar (USD), with markets on a “wait-and-see” stance, awaiting key US Inflation data on Wednesday and the Jackson Hole central bankers’ summit on Friday. The GBP/USD pair flatlines around 1.3630 with the six-month highs of 1.3675 reached last week still in the bulls’ target. FX volatility is unusually low, in the absence of key macroeconomic releases, ahead of August’s US Personal Consumption Expenditures (PCE) Price Index figures, the US Federal Reserve’s (Fed) favorite inflation gauge. The market consensus points to sticky inflationary pressures, which would give further reasons for Fed hawks to call for monetary tightening. USD/JPY trades at 159.32, highlighting a series of higher lows and higher highs since bottoming near 155.20 in early August, with bulls aiming for the 160.00 level. Momentum indicators in the 4-hour chart are moderately positive, with the Relative Strength Index (14) around 58, and the Moving Average Convergence Divergence (MACD) histogram showing widening green bars, altogether suggesting that bulls are in control. Initial resistance is seen in the area between the August 18 high, at 159.75, and the 160.00 level, considered a potential trigger for a Tokyo intervention. Further up, the July 31 high, near 160.90, would come into focus. On the downside, an unlikely bearish reversal would be tested at the June 19 low of 158.10, ahead of the August 7 low, near 156.70, and the mentioned post-intervention low, at 155.23. Source: FX Street

Daily Market Report 08/24/2026 EUR/USD ranged in the mid to high 1.16s overnight. The Euro (EUR) nurses minor losses against the US Dollar (USD) on Monday but holds most of the gains taken last week. The EUR/USD pair trades above 1.1650 during the European morning session with markets moderately reluctant to take risks ahead of the announcement of a new set of sanctions that might increase tensions between the US and Iran. Strategists highlight that “USD debasement has re-emerged as a market theme” after the US Treasury unexpectedly expanded its long-end buyback program, a move they say signals “discomfort with the recent rise in long-dated yields.” The “resulting unwind of US steepened positions has likely reinforced other debasement trades, including a weaker USD, a rebound in gold and higher US inflation breakeven”. The British Pound (GBP) holds mild gains for the fourth consecutive day against the US Dollar (USD) on a calm Monday session, as ongoing concerns about the US Treasury’s bond buyback plans keep US Dollar bulls subdued. The GBP/USD pair is trading at the midrange of the 1.3600s in the early London Trading session, just below six-month highs, at 1.3675. UK data released on Friday was mixed, as retail consumption increased below expectations in July, while August’s preliminary services and manufacturing activity data beat expectations, providing some support to the Pound. The USD/JPY pair rallies over 75 pips following an intraday slide to mid-158.00s and climbs to a fresh daily high during the first half of the European session on Monday. Spot prices currently trade around 159.25-159.30, up nearly 0.25% for the day, and draw support from a broadly firmer US Dollar (USD). Source: FX Street

Daily Market Report 08/21/2026 EUR/USD ranged in the high 1.16s to low 1.17s overnight. The Euro (EUR) is trading a few pips below 1.1700 against a depressed US Dollar (USD) on Friday, on track for a more than 1% weekly rally, and with the three-month high of 1.1710 at a short distance. Solid Eurozone business activity figures have improved confidence in the common currency, while the Greenback remains on its back foot since the US Treasury announced a plan to boost buybacks of long-term Treasuries on Wednesday. The US Dollar remains on the defensive, following the US Treasury’s plan to boost buybacks of long-term Government Bonds, aimed at stemming a sharp rally in yields. The yield for the 30-year Treasury note hit fresh 19-year highs at 5.33% earlier this week, as news that national debt had topped USD 40 trillion prompted bondholders to demand higher compensation. Strategists argue that “the Treasury is trying to manage longer-term rates—which have been rising because markets are questioning the Fed’s commitment to inflation fighting and investors are worried about the sustainability of US fiscal policy.” In their view, if higher yields are unable to “fully take the strain from those concerns, the USD will have to,” leaving the Dollar vulnerable as investors reassess both the policy outlook and the fiscal backdrop. The British Pound (GBP) rallied to fresh six-month highs against the US Dollar (USD) on Friday, boosted by stronger-than-expected UK business activity data, while the US Dollar remains depressed following the US Treasury’s plan to boost bond buybacks. The GBP/USD pair has breached the 1.3660 level for the first time since February and is trading just above 1.3670 at the time of writing.  National Statistics figures revealed that retail consumption contracted 0.5% in the UK in July, meeting the market’s expectations and following a  0.7% increase in June. Year-over-year, sales increased at a 1.6% pace, down from 3.8% in June and below the consensus 2.2%. Beyond that, Public Sector Net Borrowing increased by GBP 1.8 billion in July, below June’s GBP12.78 bullion but exceeding the market expectations of GBP0.3 billion. The USD/JPY pair struggles to capitalize on the previous day’s recovery from the 158.00 mark, or a one-and-a-half-week low, and meets with fresh supply on Friday. Spot prices stick to modest intraday losses around the 158.60 area through the first half of the European session and remain on track to end in the red for the first time in three weeks. The Japanese Yen (JPY) gets a minor lift after domestic data showed that core consumer inflation accelerated during July, bolstering the case for an interest rate hike by the Bank of Japan (BoJ). In fact, the core Consumer Price Index (CPI), excluding fresh food items, rose 1.8% YoY in July, up from a 1.6% advance in the previous month and marking the fastest pace since January. Adding to this, an index that strips out both volatile fresh food and fuel prices, which is closely watched by the BoJ as a clearer ‌gauge of underlying inflation, rose 1.9% from a year earlier after a 1.7% gain in June. This, along with the prevailing US Dollar (USD) selling bias, exerts some downward pressure on the USD/JPY pair. Source: FX Street

Daily Market Report 08/20/2026 EUR/USD ranged in the high 1.16s to low 1.17s overnight. The Euro (EUR) extends gains against an ailing US Dollar (USD) on Thursday, as the US Treasury’s plan to boost buybacks of long-term Government Bonds sent the Greenback tumbling across the board. The EUR/USD pair trades right above 1.1700 at the time of writing after surging about 1.13% from Wednesday’s lows.  The US Treasury Department announced on Wednesday its decision to double the size of liquidity support buyback operations for longer-dated securities, to at least 4 billion per operation, from the current maximum size of $2 billion from September 9 on. This plan is aimed at easing yields on long-term Government Bonds, under pressure this week, after data from the Treasury Department revealed that national debt rose above $40 trillion, prompting investors to demand higher compensation for holding US debt. GBP/USD extends its gains for the second successive day, trading around 1.3630 during the European hours on Thursday. The pair appreciates as the US Dollar (USD) faces challenges, driven by the decision of the US Treasury Department to stabilize domestic bond markets. The upside of the GBP/USD pair could be restrained as the Greenback may receive safe-haven support from geopolitical friction in the Strait of Hormuz, where tensions between the US and Iran have intensified. While President Donald Trump noted that oil transit continues and expressed openness to negotiations with Tehran, elevated risk aversion continues to favor the US currency. USD/JPY appreciates after registering modest losses in the previous day, trading around 158.50 during the Asian hours on Thursday. The currency pair gains ground as the Japanese Yen (JPY) struggles under the weight of wide interest rate differentials, mounting fiscal concerns, and elevated costs for energy and imported goods. Japan’s Merchandise Trade Balance Total showed the trade deficit widened sharply to JPY 634.5 billion in July from JPY 409.9 billion the prior month. Although the figure came in below the market forecast of a JPY 680.0 billion deficit, it marks the third consecutive month in the red and the largest deficit recorded since January, driven by import growth outstripping export gains. Source: FX Street

FX Market News We post daily market snapshots of what’s going on in the world, and how it affects you and your FX purchases. Back to posts Daily Market Update EUR/USD ranged from the high 1.17’s to low 1.18’s overnight. EUR/USD quickly fades Wednesday’s bull run and refocuses on the downside, trading closer to the provisional 55-day SMA around 1.1770, always amid the multi-day erratic performance. Meanwhile, the US Dollar (USD) appears reinvigorated, setting aside Wednesday’s retracement and retargeting the area of monthly peaks around the 98.00 region when tracked by the US Dollar Index (DXY). The Federal Reserve (Fed) left the Fed Funds Target Range (FFTR) unchanged at 3.50% to 3.75% in January. No surprise there. Markets were fully priced for a hold. The GBP/USD pair drifts lower for the second straight day on Tuesday and drops to over a one-week low, around mid-1.3500s, during the early European session following the release of the UK jobs report. The Office for National Statistics (ONS) reported that the  ILO UK Unemployment Rate climbed to 5.2% in the three months to December, from 5.1% the prior month, marking the highest level since early 2021. Additional details showed that the number of people claiming jobless benefits rose to 28.8K in January, pointing to continued softening in the UK labour market at the start of 2026. Furthermore, the rate of annual wage growth also moderated during the reported period, dropping to its lowest level in almost four years. In fact, Average Earnings Excluding Bonus  increased 4.2% in the three months ended December, down from 4.6% in the previous quarter, while the gauge including bonuses slowed to 4.2% from the former reading of 4.6%. Barring any surprises from the UK consumer inflation figures, due for release on Wednesday, the latest employment details reaffirm bets for a March interest rate cut by the Bank of England (BoE) and weigh on the British Pound (GBP). The US Dollar (USD), on the other hand, climbs to over a one-week high and turns out to be another factor exerting downward pressure on the GBP/USD pair. The USD, however, lacks bullish conviction amid dovish Federal Reserve (Fed) expectations. In fact, traders ramped up their bets that the US central bank will lower borrowing costs in June following the release of softer US consumer inflation figures last Friday. Moreover, the current market pricing indicates a higher possibility of at least two rate cuts in 2026, which, along with threats to the Fed’s independence, caps the upside for the USD. Despite the US Federal Reserve’s (Fed) hawkish outlook, the US Dollar (USD) meets with a fresh supply as investors remain concerned about renewed turbulence over US President Donald Trump’s trade policies. This, along with geopolitical risks, underpins demand for traditional safe-haven assets, including the Japanese Yen (JPY), and prompts some intraday selling around the USD/JPY pair. Meanwhile, reports suggest that Japan’s Prime Minister Sanae Takaichi was apprehensive about more rate hikes in a meeting last week with the Bank of Japan (BoJ) Governor Kazuo Ueda. Moreover, the government nominated two reflationists to join the BoJ board, forcing investors to trim expectations about the speed of interest rate hikes. This caps gains for the JPY and offers some support to the USD/JPY pair. From a technical perspective, the recent repeated rebounds from the 200-day Exponential Moving Average (EMA) breakout zone and the subsequent move up favor bullish traders. The Moving Average Convergence Divergence (MACD) line has turned higher above its signal and is now back in positive territory, suggesting improving upside momentum after a mid-month loss of traction. The Relative Strength Index around 54 stays above its midline without approaching overbought, aligning with a gradual recovery. Source FX Street International payments made easy! 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