USDCAD Eyes 2019 Lows, GBPUSD Rises on Short Squeeze - US Market Open

MARKET DEVELOPMENT –USDCAD Eyes 2019 Lows, GBPUSD Rises on Short Squeeze

市场发展 - 美国商业交易市场关注2019年低点，英镑兑美元短暂上涨

DailyFX 2019 FX Trading Forecasts

DailyFX 2019外汇交易预测

USD: Fed‘s Powell signal that interest rates will be cut at the upcoming meeting (July 31st) has continued to put the greenback on the back-foot against its major counterparts, while US indices extend on its record highs. While Powell is due to speak for a second day at Capital Hill, it is likely to be a reiteration from yesterday’s commentary. That said, with a July rate cut cemented, the focus now is whether the central bank expects further rate reductions going forward. Although with the latest CPI showing an upward surprise in the core figures, questions may be raised as the whether the Fed signals further easing is needed, thus the USD has seen a marginal bounce since the CPI report.

美元：美联储鲍威尔表示利率将在即将召开的会议上（7月31日），美元指数继续创下历史新高。虽然鲍威尔将在Capital Hill发言第二天，但很可能是昨天评论的重申。也就是说，随着7月降息的巩固，现在关注的焦点是央行是否预期未来会进一步降息。虽然最新的CPI显示核心数据意外上升，但可能会提出问题，因为美联储是否需要进一步宽松政策，因此美元自CPI报告以来已出现小幅反弹。

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GBP: In recent sessions, the sentiment in the Pound has deteriorated and rightly so, given that recent data has softened, while BoE officials have grown more cautious. However, with the market increasingly bearish on GBPUSD (reminder, CFTC data shows speculators are the most bearish on GBP in the G10), yesterdays drop in the USD looks to have sparked a short squeeze in the pair, which trades above 1.2550. Topside resistance situated at 1.26.

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CAD: Firmer oil prices and a central bank that is willing to sit on the side-lines relative to its dovish counterparts, has seen the Loonie continue to outperform with USDCAD once again edging towards its 2019 lows of 1.3037.

加元：油价较高且央行愿意坐在与其鸽派相对应的边线上，已经看到Loonie继续表现优于美元兑加元再次逼近2019年的低点1.3037。

EUR: The latest ECB minutes provided little in the way of fresh news given Draghis Sintra speech. Consequently, the Euro was relatively unchanged following the release with focus now on the upcoming data ahead of the July 25th monetary policy meeting.

欧元：最新的欧洲央行会议纪要在Draghis Sintra讲话中几乎没有提供新消息。因此，欧元在发布后相对不变，现在关注7月25日货币政策会议之前即将公布的数据。

Source: DailyFX, Thomson Reuters

来源：DailyFX，汤森路透

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