USDCAD pullbacks ahead of the Fed Economic Symposium as Canada’s Consumer Price Index (CPI) comes in stronger-than-expected in July.
The monthly opening range sits on the radar for AUDUSD as attention turns to the Kansas City Fed Economic Symposium in Jackson Hole, Wyoming.
Recent price action in GBPUSD raises the scope for a larger correction as the Relative Strength Index (RSI) bounces back from oversold territory.
EURUSD extends the decline from the previous week and approaches the monthly-low (1.1027) as the Bundesbank, Germany’s central bank, warns of an economic “slump.”
Updates to the UK Consumer Price Index (CPI) may do little to curb the depreciation in GBPUSD as the headline reading is expected to narrow to 1.9% from 2.0% in June.
AUDUSD struggles to hold its ground amid the threat of a US-China trade war, but there seems to be a rift within the RBA amid the recent batch of mixed comments.
NZDUSD trades near the 2019-low (0.6482) as the escalating trade dispute between the US and China puts pressure on the RBNZ to implement lower interest rates.
Current market conditions may fuel a larger rebound in EURUSD as the ongoing shift in US trade policy puts pressure on the Federal Reserve to insulate the economy.