Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Indices

DXY. Risks skewed to the upside for now – OCBC

Source Fxstreet

USD traded better bid overnight. The sell-off in European equities overnight and most Asian equities also weighed on sentiments. DXY was last at 98.83 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Daily momentum turned mild bullish

"This week, there are plenty of tier-1 data to consider, including conference board consumer confidence, JOLTS job openings (Tuesday); ADP employment, 2Q GDP (Wednesday); FOMC, core PCE (Thursday); NFP, ISM manufacturing (Friday).

"Globally, there is BoJ, BoC and MAS policy decision and 1 Aug tariff deadline. Additionally, there may also be month-end flows distorting price action."

"Daily momentum turned mild bullish while RSI rose. Risks skewed to the upside for now. Resistance at 99.60 (23.6% fibo retracement of 2025 high to low), 100 levels. Support at 97.80 (21 DMA), 97 and 96.40 levels (2025 low)."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Philips Q2 Net Income Slumps on One-Time Item; Margins and Cash Flow Show Gains Royal Philips announced a 47% drop in net income for the second quarter, with earnings falling to €240 million from €452 million in the same period last year. This decline primarily stems from the absence of a €538 million one-off insurance gain recorded in the prior year linked to the Philips Respironics recall. Operating income also fell markedly to €400 million from €816 million.

Author Mitrade

12 hours ago

Royal Philips announced a 47% drop in net income for the second quarter, with earnings falling to €240 million from €452 million in the same period last year. This decline primarily stems from the absence of a €538 million one-off insurance gain recorded in the prior year linked to the Philips Respironics recall. Operating income also fell markedly to €400 million from €816 million.

Asian FX Weighed by Dollar Ahead of Fed, BOJ Talks Asian currencies steadied on Tuesday following sharp declines in the prior session, as the U.S. dollar gained support after the announcement of a trade agreement between the United States and the European Union.

Author Mitrade

13 hours ago

Asian currencies steadied on Tuesday following sharp declines in the prior session, as the U.S. dollar gained support after the announcement of a trade agreement between the United States and the European Union.

Gold Slides on US-EU Trade Deal Boosting Risk Appetite Gold prices steadied during Monday’s Asian trading session after slipping for three straight days. The recent U.S.-European Union trade agreement improved investor sentiment, diminishing the appeal of gold as a safe-haven asset.

Author Mitrade

Yesterday 09: 13

Gold prices steadied during Monday’s Asian trading session after slipping for three straight days. The recent U.S.-European Union trade agreement improved investor sentiment, diminishing the appeal of gold as a safe-haven asset.

Samsung to Manufacture Tesla’s AI6 Chips in $16.5B Deal, Musk Confirms Tesla CEO Elon Musk announced on Monday that the company has signed a $16.5 billion chip supply deal with Samsung Electronics, a move that could revitalize Samsung’s struggling contract chip manufacturing business. The agreement designates Samsung to produce Tesla’s upcoming AI6 chips, which are expected to power future versions of the automaker’s autonomous driving technology.

Author Mitrade

Yesterday 08: 01

Tesla CEO Elon Musk announced on Monday that the company has signed a $16.5 billion chip supply deal with Samsung Electronics, a move that could revitalize Samsung’s struggling contract chip manufacturing business. The agreement designates Samsung to produce Tesla’s upcoming AI6 chips, which are expected to power future versions of the automaker’s autonomous driving technology.

Bitcoin Climbs to $119.5K on Trade Optimism, Eyes on Fed and Crypto Policy Update Bitcoin edged higher on Monday, reaching above $119,000 after rebounding from recent lows. The gains were fueled by improved market sentiment following the announcement of a new U.S.–EU trade agreement, which helped boost risk appetite across financial markets.

Author Mitrade

Yesterday 08: 00

Bitcoin edged higher on Monday, reaching above $119,000 after rebounding from recent lows. The gains were fueled by improved market sentiment following the announcement of a new U.S.–EU trade agreement, which helped boost risk appetite across financial markets.

Related Instrument