Analysts at TD Securities explained that Powell’s testimony offered little to go by for FX markets, though broad based USD strength against the G10 was the name of the game with notable laggards that included GBP, JPY and CAD. Key Quotes: “GBP has come under newfound pressure following the Trade Bill vote. 1.3050 offers next support for cable.” “This comes against a backdrop muted G7FX vol. Our positioning metrics suggest the market is sitting net long USDs, though still not an extreme. Without a durable macro catalyst however, the combination of a summer lull and carry costs suggest the prevailing 93.50/95.50 DXY range could persist for a while yet.” “Treasuries saw little reaction to Powell’s testimony, but will continue to look for the Q&A from day two of testimony for any surprises. Trade war concerns appear to have dissipated and strong earnings momentum appears to be keeping risk markets elevated, weighing on Treasuries.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Chair Powell’s semiannual testimony to Congress – Nomura FX Street 5 years Analysts at TD Securities explained that Powell's testimony offered little to go by for FX markets, though broad based USD strength against the G10 was the name of the game with notable laggards that included GBP, JPY and CAD. Key Quotes: "GBP has come under newfound pressure following the Trade Bill vote. 1.3050 offers next support for cable." "This comes against a backdrop muted G7FX vol. Our positioning metrics suggest the market is sitting net long USDs, though still not an extreme. Without a durable macro catalyst however, the combination of a summer lull and carry costs suggest the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
