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USD
EURUSD
The single currency remained depressed at $0.9960 as risks of stagflation for the Euro Zone deepened while industrial production fell to 2.3%.
GBPUSD
The Cable remained pressured towards $1.1500 due to the downbeat U.K. inflation data along with the pessimism surrounding British politics.
AUDUSD
The Aussie dollar staged a modest rebound to $0.6748 after data showed continued strength in the country's job market, although unemployment also rose slightly.
USDJPY
The Japanese yen rose to 143.43 against the U.S. dollar after reports that the Bank of Japan conducted a rate check on the market in preparation for currency intervention.
USDCAD
The Loonie oscillated around 1.3180 against the greenback on the back of a weaker price of oil and headlines surrounding the Sino-American conflict whilst the bulls brace for the U.S. Retail Sales data.
USDZAR
South African rand lost ground to 17.50 as investors seek the safety of safe-haven assets due to uncertainty surrounding the U.S. Federal Reserve's monetary policy, geopolitical tensions, and inflation.
USDMUR
The dollar-rupee unchanged at 44.55(Selling).
16:30 - USD - Core Retail Sales (MoM)(Aug)
16:30 - USD - Retail Sales (MoM)(Aug)
16:30 - USD - Initial Jobless Claims
Past
EUR like a Deer in the headlights.
Euro has been trending lower over the last couple of months in the range of $1.06 and $1.0350. , unable to process and respond to the wicked combination of higher inflation and recession fears.
Current
Euro has pierced through key support yesterday and sank to $1.0234, its weakest since December 2002
Forecast
A dip to parity or below is in the cards.
1st target @ 0.9906 78.6% fibo retracement
2nd target @ 0.9127 88.6% Fibonacci retracement
Invalidation level @ 0.8221
Past
Double zig-zag upward correction W-X-Y
USD/MUR surged 24% from 37.05 of March 20 to 45.95 as of 6th July 22
Clear 5-wave structure since Feb 2018
Current
BOM shocking intervention higher at 45.30, a boon for U.S dollar against the rupee in the coming days.
Future
Anticipating Wave (v) of 5 of c of (Y) to end near 47.50, 161% Fibonacci projection
Invalidation Level @ 39.25
Past
After reaching a high of 51.05 (buying TT) in July 2021, the EUR/MUR failed to keep the bullish trend seen in 2020 and 2021 undermined by a falling EUR/USD since 2021.
The pair plummeted to a low of 44.61 on 13th of May 2021 before staging a recovery to 47.78 on 30th June 2022.
Future
However, the rebound on the EUR/MUR appeared short-lived as it turned south again this week
The pair could dive in the range of 43.50 and 44.50 in the coming weeks.
Invalidation level @51.05!
