NZD/USD (New Zealand Dollar/US Dollar) – Sell: Focused Currency Pairs and Technical Analysis (15-Minute Chart) for August 14, 2024
EUR/USD (Euro/US Dollar) – Buy The EUR/USD is showing mixed movements around 1.0990. The market is sluggish as investors are hesitant to take new positions ahead of the U.S. inflation statistics. The core CPI is expected to drop to 3.2%, increasing the likelihood of a 50 basis point rate cut by the Federal Reserve in September. Meanwhile, despite a decline in Europe’s Economic Sentiment Index, the euro’s reaction has been limited.
GBP/USD (British Pound/US Dollar) – Strong Sell The GBP/USD is experiencing erratic movements around 1.2830. Attention is on the UK inflation statistics, where the core CPI fell more than expected. With U.S. inflation data also on the horizon, the likelihood of a rate cut by the Federal Reserve in September is increasing. The market is beginning to move in anticipation of the rate cut.
NZD/USD (New Zealand Dollar/US Dollar) – Sell The NZD/USD has fallen sharply and is testing the support level at 0.6000. The Reserve Bank of New Zealand has lowered interest rates, and with U.S. inflation data upcoming, investors are waiting to see the next move. The possibility of a rate cut by the Federal Reserve is growing, impacting the U.S. dollar.
USD/JPY (US Dollar/Japanese Yen) – Buy The USD/JPY is hovering around 147.00 with unclear direction. Market activity is subdued, with U.S. inflation statistics potentially influencing the Federal Reserve’s rate policy. In Japan, Q2 GDP data is scheduled for release tomorrow. The market is waiting for new information.
XAU/USD (Gold/US Dollar) – Strong Buy The XAU/USD has slightly declined, testing the 2460.00 level. The market is focused on U.S. inflation statistics, which could influence the Federal Reserve’s rate policy. Additionally, geopolitical risks, particularly rising tensions between Iran and Israel, are supporting gold prices.
