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USD
EUR/USD
The Shared currency skid below parity to $0.9971 after U.S. data showed a resilient economy, giving the Federal Reserve more room to aggressively hike interest rates to quell inflation at the Sept. 20-21 meeting.
GBP/USD
The Cable hammered to $1.1547, weighed down by looming fears of the U.K.'s recession and on the back of pre-Non farm payroll anxiety.
USD/JPY
The Japanese yen slammed to a 24-year low against the U.S. dollar as hawkish Fed expectations and solid U.S. data kept widening the gap between U.S. interest rates and the ultra-low levels maintained by the Bank of Japan.
AUD/USD
The Aussie dollar slipped to $0.6791 on risk aversion and ahead of RBA's monetary policy next Tuesday.
USD/CAD
The Loonie sank to 1.3158 per U.S. dollar as investors remain worried that a deeper global economic downturn and fresh COVID-19 restrictions in China might dent fuel demand.
USD/ZAR
South African rand suffered to 17.28 against the greenback at the hands of the hawkish U.S. Federal Reserve and declining global risk sentiment.
USD/MUR
The dollar-rupee rose by 5 cents to 44.70(selling).
16:30 - USD - Unemployment Rate (Aug)
16:30 - USD - Nonfarm Payrolls (Aug)
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!
