USD 
EUR 
AUD 
CHF
The Australian dollar had a bit of a rollercoaster day, it's safe to say. If you were watching AUD/USD, you'd have noticed it pushed higher during the Asian session, but then reversed lower as US Treasury yields trimmed earlier declines and US equities slipped into negative territory. Which was pretty wild, considering the Aussie had been looking pretty strong lately. But I guess that's just the way it goes sometimes. And honestly, it wasn't entirely surprising, given the weaker than expected durable goods orders out of the US.
The USDCAD is modestly higher on the day, after sellers failed to extend the downside following an early break lower. The pair opened on the defensive and slipped below its rising 100-hour moving average, but has since recovered. According to ForexLive, the US economic calendar is done for the day, but there are two coupon auctions still to come, which could potentially shake things up. You'd think the weaker durable goods orders would've sent the dollar tumbling, but it's actually managed to reclaim some ground. The Euro's been pretty flat against the Aussie, closing at 1.6261, and against the Swiss Franc, it's at 0.9311.
But what's really interesting is the USDCHF, which moved higher last week and tested a topside trendline connecting the series of lower highs dating back to July 1. FXStreet pointed out that the pair's been stuck in a pretty tight range lately, but if it can break above that trendline, we could see some real momentum build. And with the US dollar index closing at 0.8792 against the euro, it's clear the greenback's still got some fight left in it. If you were trading EUR/USD today, you'd have seen it bounce around a bit, but ultimately close pretty much where it started.
As we head into the rest of the week, it's going to be all about the Dallas Fed Manufacturing Index, which is due out tomorrow. If it comes in strong, we could see the dollar get a boost, which would be bad news for the Aussie. But if it's weak, we might see the Aussie rebound, and the euro could potentially make some gains against the dollar. Either way, it's shaping up to be an interesting few days, and I'm looking forward to seeing how it all plays out.
Dollar Reclaims Ground
The USDCAD is modestly higher on the day, after sellers failed to extend the downside following an early break lower. The pair opened on the defensive and slipped below its rising 100-hour moving average, but has since recovered. According to ForexLive, the US economic calendar is done for the day, but there are two coupon auctions still to come, which could potentially shake things up. You'd think the weaker durable goods orders would've sent the dollar tumbling, but it's actually managed to reclaim some ground. The Euro's been pretty flat against the Aussie, closing at 1.6261, and against the Swiss Franc, it's at 0.9311.
But what's really interesting is the USDCHF, which moved higher last week and tested a topside trendline connecting the series of lower highs dating back to July 1. FXStreet pointed out that the pair's been stuck in a pretty tight range lately, but if it can break above that trendline, we could see some real momentum build. And with the US dollar index closing at 0.8792 against the euro, it's clear the greenback's still got some fight left in it. If you were trading EUR/USD today, you'd have seen it bounce around a bit, but ultimately close pretty much where it started.
As we head into the rest of the week, it's going to be all about the Dallas Fed Manufacturing Index, which is due out tomorrow. If it comes in strong, we could see the dollar get a boost, which would be bad news for the Aussie. But if it's weak, we might see the Aussie rebound, and the euro could potentially make some gains against the dollar. Either way, it's shaping up to be an interesting few days, and I'm looking forward to seeing how it all plays out.