USD 
EUR 
JPY 
AUD
It's been a pretty quiet day in the markets, which was pretty wild considering we had the Fed Beige Book coming out. But you'd have noticed that the US Dollar didn't really budge, and that's because the Fed stayed dovish, which didn't surprise anyone. The Euro / US Dollar closed at 1.1616, which is basically unchanged from yesterday, and the Australian Dollar / US Dollar closed at 0.7150, also unchanged. If you were watching EUR/USD, you'd have seen it tick lower on Wednesday, but it was a pretty small move. And honestly, it's not like there was a lot of other news to drive the markets.
But what's interesting is that the US Dollar is still looking pretty strong, especially against the Yen. Brown Brothers Harriman's Elias Haddad pointed out that USD/JPY's test of 160.00 has heightened intervention risks, which is something to keep an eye on. The Japanese authorities have already spent a record amount to cap the pair, so it'll be interesting to see what they do next. And if you're trading AUD/USD, you'd have noticed that it's under pressure after the release of some disappointing Australian economic indicators. The pair is trading around 0.7145, which is down 0.50% on the day.
The Canadian Dollar is also looking a bit soft, with USD/CAD trading near 1.3850. Scotiabank strategists Shaun Osborne and Eric Theoret noted that the CAD is broadly stable, but it's not like there's a lot of momentum behind it. And the New Zealand Dollar / US Dollar closed at 0.5880, which is also unchanged from yesterday. According to DailyFX, the US economic data has been stronger than expected, which is boosting demand for the US Dollar. But it's not like the markets are getting too excited about it.
So what's next? We've got a few more economic events coming up, but it's not like they're going to be game-changers. The S&P Global Services PMI and Composite PMI for Canada are coming out, but they're not likely to move the markets too much. And the US Dollar / Yuan Renminbi closed at 6.7687, which is also unchanged. FXStreet pointed out that the Euro is weakening as stronger-than-expected US economic data boosts demand for the US Dollar, but it's not like it's a big move. We'll just have to wait and see what happens next.
Dollar Strength Persists
But what's interesting is that the US Dollar is still looking pretty strong, especially against the Yen. Brown Brothers Harriman's Elias Haddad pointed out that USD/JPY's test of 160.00 has heightened intervention risks, which is something to keep an eye on. The Japanese authorities have already spent a record amount to cap the pair, so it'll be interesting to see what they do next. And if you're trading AUD/USD, you'd have noticed that it's under pressure after the release of some disappointing Australian economic indicators. The pair is trading around 0.7145, which is down 0.50% on the day.
The Canadian Dollar is also looking a bit soft, with USD/CAD trading near 1.3850. Scotiabank strategists Shaun Osborne and Eric Theoret noted that the CAD is broadly stable, but it's not like there's a lot of momentum behind it. And the New Zealand Dollar / US Dollar closed at 0.5880, which is also unchanged from yesterday. According to DailyFX, the US economic data has been stronger than expected, which is boosting demand for the US Dollar. But it's not like the markets are getting too excited about it.
So what's next? We've got a few more economic events coming up, but it's not like they're going to be game-changers. The S&P Global Services PMI and Composite PMI for Canada are coming out, but they're not likely to move the markets too much. And the US Dollar / Yuan Renminbi closed at 6.7687, which is also unchanged. FXStreet pointed out that the Euro is weakening as stronger-than-expected US economic data boosts demand for the US Dollar, but it's not like it's a big move. We'll just have to wait and see what happens next.