The currency gained with all major currencies at the start of the new week, with EUR / USD returning to 1.01, close to parity levels, and USD / JPY breaking above 137, establishing annual highs up to the October 1998 level.
The U.S. Dollar Index (DXY) rose to 107.7, its highest level in nearly 20 years. Upbeat data on the U.S. labor market released on Friday dampened analysts ’expectations for a 0.75-percentage-point rise by the Federal Reserve in July, boosting the broad-based strength of the economy. make up.
Non -farm payrolls in the United States were higher than forecast in June (up 372k vs. 265k consensus), the unemployment rate remained at an all -time low of 3.6%, and wages have continued to rise at a fixed rate. This means that the labor market will be very stable and not during the economic downturn when demand is declining, indicating the need to keep interest rates rising at a rapid pace.
The sentiment continues to weaken, preferring the greenback to jump, with Asian markets replacing the red and European trading weaker, due to the European energy crisis. and concerns about new locks in China due to the rise of Covid-19 cases and the availability of a new BA.5.2.1 Omicron model in Shanghai.
Date: The US Dollar (DXY) reached record highs in October 2002
Forex Market Today – 11 July 2022
EUR/USD live chart – Euro vs US dollar exchange rate today (EUR to USD)
Euro (EUR) exchange news: The Euro weakened today at $ 1.01 (-0.7% on the day), remaining in an oversold technical zone, with a 14-day RSI below 30. The EUR / USD exchange rate is low. result of a combination of negative things. On the other hand, the free stability of the U.S. labor market has strengthened the confidence of a strong Federal Reserve. On the other hand, fears of a renewable energy crisis, with Russia threatening to cut off gas, could soon start a slowdown in Europe than expected. The two -year exchange rate between the United States and Germany has therefore reached 2.6%, the highest level since the beginning of the year, while the market expects the Federal Reserve to stay. More hawkish than the European Central Bank.
The EUR / USD has fallen on the growth of the US-German currency exchange
GBP/USD Life Chart – Pound vs US dollar exchange rate today (GBP to USD)
British Pound Exchange (GBP) news: After a briefing last week following the departure of Prime Minister Boris Johnson, the pound has once again seen the weakness of the pound. Defending the disaster the GBP / USD pair fell below 1.20 this morning, and is currently hovering at 1.196. The 14-day RSI is 35, close to oversold territory.
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USD/JPY live chart – US dollar vs Japanese yen exchange rate today (USD to JPY)
Japanese Yen (JPY) Forex Trading News: The Japanese yen fell 137 against the currency, its lowest level since the beginning of the year, according to Bank of Japan Governor Haruhiko Kuroda who reiterated this morning that the BOJ will continue its policies. ultra-loose currency in order to consistently meet the 2% inflation target. The Bullish period has begun again on the daily chart, with the 14-day RSI rising to 65, its highest level since the end of June. The current sentiment level of 138 indicates the upcoming box, followed by 138.5 (early September 1998 levels).
USD/CHF live chart – US currency vs Swiss franc today (USD to CHF)
Swiss franc (CHF) exchange news: The bearish high’s return was short -lived, and after hitting 0.95, the dollar / Swiss franc (USD / CHF) rose to 0.981, on track for its sixth day of winning. The Swiss currency did not see higher inflation rates than expected for June (3.4% vs. 3.2%) last week, hurting due to the strength of the currency. The lack of critical data between now and the end of the month and the absence of a Swiss National Bank SNB until the end of September does not provide specific catalysts for the Swiss franc. in the short term.