2025-04-24 09:52

The AUD/USD outlook paints uncertainty as traders weigh the impacts of Trump’s decisions. Analysts have downgraded the outlook for growth in China and the US. The US PMI report revealed weaker business activity. The AUD/USD outlook paints uncertainty as traders weigh the impacts of Trump’s decisions and comments on the global economy. Moreover, the Aussie lacked direction due to the dimming outlook for growth in the US and China. -Are you interested in learning about the forex indicators? Click here for details- The dollar rebounded recently after Trump retracted his comments about firing the Fed Chair. However, the rally had little impact on the AUD/USD price. Market participants are more focused on the impact of recent developments on the global economy. Analysts have downgraded the outlook for growth in China and the US due to the recent tariff war. Australia will suffer if the Chinese economy slows further, as it is its largest trading partner. Therefore, an escalation in the trade war will likely hurt the Australian dollar. However, the dollar will also fall in the event of a US recession. This will allow the Aussie to remain steady. Fortunately, recent comments from the White House have shown a willingness to lower tariffs on China. However, the US has said it will not be the first to move. If tariffs can come down, the two countries might work on a trade deal to end the war. Meanwhile, market participants watched the US PMI report, which revealed weaker business activity. The composite PMI fell from 53.5 to 51.5 as service sector business activity dropped. More downbeat data will increase pressure on the Fed to cut interest rates. AUD/USD key events today Unemployment Claims AUD/USD technical outlook: 0.6400 key resistance triggers sideways move On the technical side, the AUD/USD price trades in a tight range around the 0.6400 key psychological level. Initially, bulls were in the lead, keeping the price above the 30-SMA. However, bears are getting stronger and have punctured the SMA. At the same time, the RSI has punctured the 50 level, showing stronger bearish momentum. However, at the moment, price action can only be described as ranging. It is not making higher highs or lower lows, meaning bears and bulls are almost equally matched. If bears become stronger, AUD/USD will target the 0.6200 key level. On the other hand, if bulls regain momentum, the price will break above 0.6400 to make new highs and continue the uptrend. https://www.forexcrunch.com/blog/2025/04/24/aud-usd-outlook-caution-as-trump-fuels-economic-uncertainty/

2025-04-24 09:26

The GBP/USD forecast indicates a pause in the dollar’s relief rally. The dollar rose in the previous session as Trump reassured markets that he had no intention of firing Powell. Business activity in the US services sector declined, overshadowing the slight improvement in manufacturing activity. The GBP/USD forecast indicates a pause in the dollar’s relief rally as focus shifts back to the US economic slowdown. Meanwhile, business activity slowed in the US and the UK, showing the impact of Trump’s recent tariff campaign. -Are you interested in learning about the forex indicators? Click here for details- The pound paused its decline on Thursday as the greenback’s rally lost steam. Previously, the dollar rebounded as sentiment improved on the US economy. Notably, Trump stopped his attacks on the Fed Chair Powell. The president had accused Powell of being slow and threatened to fire him. Trump wants the Fed to continue cutting rates to support the weaker economy. However, Powell is waiting for more evidence that rates need to be lower. On Thursday, the dollar rose as Trump reassured markets that he had no intention of firing Powell. Additionally, sentiment improved after the White House hinted at a likely trade deal to lower tariffs on China. An end to the raging trade war would lift the cloud of uncertainty over the US economy. Market participants also focused on business activity data from the US and the UK. In the US, business activity in the services sector declined, overshadowing the slight improvement in manufacturing activity. Meanwhile, in the UK, service sector activity decreased, while manufacturing activity remained steady. GBP/USD key events today Unemployment Claims GBP/USD technical forecast: Decline pauses to retest 30-SMA On the technical side, the GBP/USD price has broken below the 30-SMA, indicating a shift in sentiment. At the same time, the RSI broke below 50, suggesting stronger bearish momentum. Previously, bulls were in the lead, and the price traded above the SMA. However, this changed when it met the 1.3401 resistance level. Here, bears emerged and pushed the price below the SMA. This breakout signals a likely bearish reversal. However, bears must show they can sustain a strong downtrend. To do this, the price must break below the previous low at the 1.3200 key support level. Such a move would make a lower low, confirming a downtrend. Moreover, to maintain the move, the GBP/USD price must continue to make lower highs and lower lows. https://www.forexcrunch.com/blog/2025/04/24/gbp-usd-forecast-dollar-dips-as-growth-worries-weigh/

2025-04-23 09:45

The EUR/USD forecast suggests a shift in sentiment after downbeat Eurozone PMI data. The Eurozone composite PMI dropped from 50.9 to 50.1, indicating weaker business activity. The dollar soared after Trump reassured markets that he had no intention of firing Powell. The EUR/USD forecast suggests poor sentiment after downbeat Eurozone business activity data. At the same time, the dollar recovered after Trump paused his attacks on Fed Chair Powell. Market participants are now awaiting US PMI figures. -Are you interested in learning about the forex indicators? Click here for details- The Eurozone composite PMI dropped from 50.9 to 50.1, indicating weaker business activity. Meanwhile, economists had expected a smaller drop to 50.3. Business activity in the manufacturing sector improved slightly. However, service sector activity dropped. So far, the Eurozone has escaped a 20% reciprocal tariff on its exports to the US. However, policymakers believe Trump’s tariffs will hurt the economy. Still, it might not be as bad as in the US. Meanwhile, the dollar held steady after a relief rally in the previous session. The greenback soared after Trump reassured markets that he had no intention of firing Powell. His attacks on the Fed Chair had raised concerns about the central bank’s independence. Trump believes Powell should react faster to the recent economic slowdown by cutting interest rates. However, the Fed Chair believes it is too early to judge the impacts of recent trade policy changes. Market participants will watch the upcoming US PMI report to see the state of business activity in the economy. A poor report might add pressure on the Fed to lower borrowing costs. EUR/USD key events today US flash manufacturing PMI US flash services PMI EUR/USD technical forecast: Deep pullback signals stronger bearish momentum On the technical side, the EUR/USD price has broken below major support levels, suggesting stronger bearish momentum. After meeting the 1.1550 resistance level, bears emerged and pushed the price below a solid support trendline. After that, the price broke below the 30-SMA, showing bears were ready to take charge. At the same time, the RSI dipped below 50 into bearish territory. However, bears must break below the 1.1302 support level to make a lower low and confirm a new downtrend. Such a move would allow EUR/USD to reach the 1.1002 key level. However, if the 1.1302 support holds firm, bulls might return to retest the 1.1550 barrier. https://www.forexcrunch.com/blog/2025/04/23/eur-usd-forecast-eurozone-reports-weak-activity-data/

2025-04-23 08:33

The USD/JPY price analysis shows a relief rally in the dollar. Trump told reporters he had no intention of removing Powell from office. Market participants are expecting business activity data from the US. The USD/JPY price analysis shows a relief rally in the dollar after Trump paused his attacks on the Fed. Meanwhile, market participants are awaiting US business activity data for further clues on future Fed policy moves. -Are you interested in learning about the forex indicators? Click here for details- The USD/JPY pair rose on Tuesday after Trump told reporters he had no intention of removing Powell from office. Initially, the dollar had collapsed amid threats to fire the Fed Chair. Trump was calling for the US central bank to lower borrowing costs and support the slowing economy. However, Powell has maintained a cautious tone, waiting for more evidence on inflation and growth. Trump’s policy announcements in recent weeks have caused wild swings in the market. Initially, they cause a plunge before he softens his stance, causing a relief rally. However, all this has caused more uncertainty about the stability of US assets. Therefore, although the dollar recovered, the outlook remains bleak. Meanwhile, market participants are expecting business activity data from the US. Upbeat figures might support the dollar. On the other hand, downbeat figures would increase recession concerns, putting pressure on the Fed to cut rates. In Japan, the BoJ will likely pause at its May 1 meeting. However, analysts believe policymakers will maintain a hawkish tone due to a strong labor market and steady inflation. USD/JPY key events today US flash manufacturing PMI US flash services PMI USD/JPY technical price analysis: Price pauses to retest its channel resistance On the technical side, the USD/JPY price has risen to retest the 142.02 key level and its bearish channel resistance. At the same time, the price is retesting the 30-SMA and has gone slightly above it. This is a sign that bulls are challenging the downtrend. The RSI has also broken above 50, suggesting stronger bullish momentum. However, the price recently made a lower low, continuing its downtrend. Moreover, it has maintained its decline in a bearish channel with clear support and resistance levels. Therefore, if the price remains within this channel, it will soon bounce lower to retest the 140.01 support level. On the other hand, if bulls gain enough strength, they might trigger a break above the channel resistance. Such an outcome would signal a bullish sentiment shift. https://www.forexcrunch.com/blog/2025/04/23/usd-jpy-price-analysis-gains-after-trump-halts-fed-criticism/

2025-04-22 09:19

The GBP/USD price analysis points to further upside for the pound. Trump is exploring ways to remove Fed Chair Powell from office. Trump’s aggressive policies have clouded the outlook for the US economy. The GBP/USD price analysis points to further upside for the pound as it rides the recent wave of dollar weakness. The dollar remained frail on Tuesday after dropping in the previous session due to Trump’s attacks on the Federal Reserve. -Are you interested in learning about the forex indicators? Click here for details- On Friday, reports surfaced that the US president was exploring ways to remove Fed Chair Powell from office. The news led to a renewed dollar sell-off, allowing the pound to resume its rally. Furthermore, Trump continued his attacks on Powell on Monday. The president demanded that the Fed Chair lower interest rates to support the economy. The ongoing conflict between the government and the central bank has further eroded investor confidence. The volatile nature of financial markets has caused uncertainty. As a result, traders are dumping US assets for more stable ones. Trump’s attack on Powell shows he is ready to undermine the independence of the central bank. Powell has maintained a cautious tone, calling for patience on rate cuts. Meanwhile, Trump’s aggressive policies have clouded the outlook for the US economy. Still, Powell wants to ensure that inflation does not rise before cutting interest rates. GBP/USD key events today Market participants do not expect any high-impact reports from the US or the UK. Therefore, they might wait on the sidelines for PMI data. GBP/USD technical price analysis: Bulls pause for breath after 1.272 Fib break On the technical side, the GBP/USD price is retreating after breaking past the 1.272 Fib extension level. Despite the pullback, the price remains well above the 30-SMA, with the RSI near the overbought region. Therefore, the bullish bias is strong. The pause might allow GBP/USD to retest the 1.272 Fib before climbing higher. It will also allow the SMA to catch up with the price, giving bulls the push they need to reach new highs. The next target is at a solid resistance zone comprising the 1.618 Fib extension and the 1.3500 key psychological level. A break past this level will indicate solid bullish momentum. However, there is also a chance the uptrend will pause at this zone. Still, the bullish trend will continue if the price stays above the SMA. https://www.forexcrunch.com/blog/2025/04/22/gbp-usd-price-analysis-more-upside-as-greenback-falters/

2025-04-22 08:14

The EUR/USD outlook suggests further weakness for the dollar. The dollar collapsed as Trump continued attacking Powell. Traders await the US and Eurozone PMI figures, due on Wednesday. The EUR/USD outlook suggests further dollar weakness as Trump continues his criticism of Fed Chair Powell. As a result, the euro is holding firm as investors lose confidence in the stability of the US economy. Meanwhile, market participants are awaiting the release of crucial PMI data. -Are you interested in learning about the forex indicators? Click here for details- The euro remained steady on Tuesday, following new highs reached in the previous session amid dollar weakness. The dollar collapsed after Trump went on to attack Powell, calling him a loser. The US president has been telling the Fed to lower borrowing costs and support the economy. Trump is now growing concerned about the state of the economy following his aggressive tariff moves. However, Powell has remained calm amid the storm of tariffs. The Fed Chair has maintained that there is no hurry to lower interest rates. Policymakers are waiting to see whether tariffs have reheated inflation before lowering borrowing costs. The ongoing attack on the Fed Chair has threatened the central bank’s independence. At the same time, investors are losing confidence in the stability of US markets. Consequently, most are shifting to other economies, such as the Eurozone. Elsewhere, the US and Eurozone PMI figures, due on Wednesday, will indicate the state of both economies, which will impact the EUR/USD price. EUR/USD key events today Market participants do not expect any key economic releases from the Eurozone or the US. Therefore, the pair might consolidate. EUR/USD technical outlook: Uptrend pauses to revisit the 1.1502 level On the technical side, the EUR/USD price has pulled back to retest the recently broken 1.1502 key level as support. The price recently reached a new high, further strengthening the bullish bias. Moreover, the price trades far above the 30-SMA, and the RSI is above 50, showing bulls are still in the lead. If the 1.1502 level holds firm as support, the price will bounce higher for a new high. Such an outcome would allow EUR/USD to reach the 1.1602 key level. However, if the price breaks below the support level, it may drop to retest the 30-SMA. If the SMA holds firm, bulls will return to seek new highs. On the other hand, a break below the SMA would signal a shift in sentiment, allowing bears to reach the 1.1302 support level. https://www.forexcrunch.com/blog/2025/04/22/eur-usd-outlook-trumps-attacks-on-powell-weigh-on-dollar/