USD index is steady, EUR/USD eyeing 1.02 to the upside, and USD/JPY under 135 – Daily Market Brief, August 09, 2022

EUR/USD is neutral at around 1.0200

In a narrow range near 1.0200, the EUR/USD is fluctuating back and forth as investors wait for US inflation data to provide a new direction. The European gas crisis and economic worries were mitigated by a soft US dollar and yields.

In the Asian session, the EUR/USD pair is fluctuating between a small range of 1.0188 and 1.0194. After attempting to break through the psychological barrier of 1.0200, the asset has slightly dropped. 

Key Factors for Today

Asian stocks largely rose after the US took a hesitant lead.

European equities futures point to a somewhat milder opening.

USD index is steady, EUR/USD eyeing 1.02 to the upside, and USD/JPY under 135

Coming Up 


Supply from UK, Germany & US

Today’s drills around Taiwan, according to the Chinese military, will continue.

China continues to refuse to end the military drills around Taiwan for the 3rd day. At this point, we believe it is reasonable to anticipate that China will continue to maintain a military presence around the island of Taiwan for the foreseeable future. Yesterday, Chinese warships and bombers were spotted near the island, and it appears that the tense situation will persist for the time being.

Russia suspends nuclear arsenal inspections by the US 

An agreement known as New START was agreed upon in 2010 by former US President Barack Obama and former Russian President Dmitry Medvedev. This agreement set a cap of no more than 1,550 deployed warheads and 700 missiles and inspections to ensure compliance. Yesterday, Russia told the US that it is suspending American inspections of its nuclear weapons installations under this agreement known as New START. 

The US will conduct military drills close to India’s disputed border with China.

The US will participate in war drills with the Indian military near the Line of Actual Control, India’s disputed border with China (LAN). The 18th annual Yudh Abhyas “war practice” drills will be held from October 18-31. They’ll be at Auli, in Uttarakhand’s Himalayas.

Disclaimer: This article is not investment advice or an investment recommendation and should not be considered as such. The information above is not an invitation to trade and it does not guarantee or predict future performance. The investor is solely responsible for the risk of their decisions. The analysis and commentary presented do not include any consideration of your personal investment objectives, financial circumstances, or needs.

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