The USD is mixed vs the EURUSD, USDJPY and GBPUSD. What traders should eye technically?
The US dollar is mixed against the three major currencies to start the day. The euro is down 0.13% and the pound is down 0.20% against the dollar, while the Japanese yen is stronger, with USDJPY down 0.35%.
The bigger move is in the New Zealand dollar, which is down 1.12% despite the RBNZ’s rate hike. Meanwhile, the Canadian dollar is weaker ahead of the Bank of Canada’s rate decision, where no change is expected. USDCAD is up 0.24% as traders await the decision and guidance on the path ahead.
In the video above, I take a look at the charts and outline the levels that will define the bias, define the risk, and tell us whether the buyers or sellers have control.
The key overnight change is a widening U.S.–Iran military exchange, with Gulf states again caught in the retaliation. Oil is holding onto Tuesday’s sharp gains as traders assess the threat to shipping. Crude oil futures are currently trading at $89.50 which is down about -$0.70 on the day. Yesterday, the price surged by 5.20% or $4.46.
- CENTCOM said late September 1 that it finished strikes against Iranian Revolutionary Guard air defenses, radar, maritime facilities, mine-laying capabilities and communications sites. These are confirmed U.S. statements; the full damage assessment remains unclear.
- Iran’s retaliation spread across the region: Jordan reported intercepting 10 missiles, with three others falling in remote areas. Bahrain reported drone interceptions, while Kuwait said a drone hit a residential complex without casualties. Iran claimed U.S. military deaths, but initial U.S. assessments reported no casualties
- Shipping company Bahri said Wednesday that two Filipino sailors died aboard the SIDR in Monday’s Hormuz attack. That updates the initial reporting cited yesterday that crews were safe.
- Iranian authorities reported five deaths and dozens wounded in a strike on a wedding near Sirik. However, the reports are unconfirmed.
- Diplomacy continues, but no breakthrough: Pakistan said September 2 it remains engaged with both sides to restart negotiations. Saudi foreign minister is urging all parties to remain calm and return to negotiations
The elevated price of oil remains an inflation concern as well as a geopolitical risk. Higher energy costs are adding to bond-selling pressure, supporting the dollar and weighing on equities—the combination reported in Wednesday’s trading.
The RBNZ raised interest rates and signaled that gradual tightening is needed to contain inflation without undermining New Zealand’s uneven economic recovery.
- The RBNZ raised its cash rate by 25 basis points to 2.75%, with unanimous agreement.
- Inflation reached 4.1%, largely due to higher fuel prices linked to the Middle East conflict. Excluding vehicle fuels, inflation eased to 2.9%.
- The bank expects inflation back within its 1–3% target range by mid-2027 and near 2% later that year.
- Further hikes remain possible, but the path is not predetermined. Gradual tightening now aims to avoid larger, faster increases later.
- Four committee members see upside inflation risks, particularly if elevated energy costs spread into broader prices. Two see risks as balanced.
- The recovery remains uneven. Export sectors are stronger, while weak household spending, housing activity and job insecurity weigh on the domestic economy.
The message was cautiously hawkish: the RBNZ wants to prevent energy-driven inflation from becoming entrenched, but the fragile recovery argues for measured increases rather than aggressive tightening. Despite the hike, the NZDUSD fell sharply with the
At 9:45 AM, the BOC is expected to announce that they kept rates unchanged at 2.25%. The chance of a hike before year end is about 50%.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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