Yesterday, the Conference Board showed that its index of consumer confidence declined to 90.9 in July, missing economists’ expectations for a reading of 100.0. As a result, USD/CAD moved sharply lower and reached its first support. Will it encourage currency bulls to act in the coming days?

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Although AUD/USD hit a fresh 2015 low, the pair rebounded in the following hours supported by a weaker greenback. But did this upswing change anything in the short-term picture of the exchange rate?

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In recent weeks, the greenback rallied from 93.30 to 98.30 supported by expectations that the U.S. central bank could raise rates later this year. However, uncertainty around Wednesday’s Fed statement encouraged investors to sell the U.S. currency, which pushed the USD Index below 97. As a result, USD/CAD invalidated earlier breakout above the Mar 2009 high. Will the exchange rate drop under 1.300 in the coming week?

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Although the USD Index slipped below 97, bullish jobless claims data supported the greenback, which resulted in a rebound and invalidation of earlier breakdown. This positive signal, in combination with the solid support area, triggered further improvement earlier today. What impact did this move have on our six currency pairs?

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Earlier today, the U.S. Department of Labor showed that the initial jobless claims in the week ending July 18 dropped by 26,000 to 255,000, beating analysts’ expectations for a 1,000 drop. In this environment, the USD Index bounced off session’s lows and came back above 97. What impact did this move have on the euro, pound and Swiss franc?

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