Robert Petrucci

NZD/USD extends its recovery to 0.57740, gaining momentum on broad USD weakness, but with U.S. inflation data and Fed decisions ahead, near-term volatility and possible reversals remain key risks.

USD/MYR continues its sharp decline, hitting long-term lows near 4.1100 as broad USD weakness and expectations of a Fed rate cut pressure the pair, with potential to test the 4.1000 level.

USD/MXN continues to hover near long-term support at 18.25 as sellers cautiously dominate ahead of the December 10 FOMC decision, with choppy conditions expected to persist in the short term.

USD/SGD is holding below the key 1.3000 level as institutional selling and dovish Fed expectations drive a bearish trend, with volatility likely ahead of Friday’s PCE data and next week’s FOMC meeting.

USD/BRL continues to consolidate near 5.3571 within a well-defined range, with traders watching for potential breakout catalysts from the upcoming U.S. Federal Reserve interest rate decision.

The USD/ZAR has reaffirmed its bearish trend the past handful of days and is lingering within the lower realms of its value once again, as of this morning the currency pair is near 17.11850 with fast action.

The NZD/USD has fallen once again and as of this writing the 0.56065 ratio is seeing price action as nervousness is clearly influencing the currency pair and global Forex.

As of this writing the USD/SGD is near the 1.30765 ratio and showing an ability to challenge mid-term resistance levels, this as financial institutions appear to have acknowledged changing sentiment regarding U.S interest rates.

USD/ILS has rebounded from long-term lows but remains trapped in a bearish range as traders navigate global risk aversion and await clarity from the U.S. Federal Reserve.

USD/BRL rebounded from recent lows on Wednesday as risk sentiment remains cautious ahead of the Fed minutes and U.S. jobs data, with traders watching the 5.3000 level for short-term direction.

In early futures trading this morning the S&P 500 is around the 6,655.00 ratio having shown a definite negative near-term trend since coming off of highs last Wednesday.

The Nasdaq 100 continues to face nervous selling in early futures trading this morning and is near the 24,645.00 ratio after another flurry downwards.