EUR/USD
Trend Theme：EUR/USD remains below 1.1100, faces challenges due to rising odds of ECB rate cut
Trend Review：
EUR/USD may face challenges as recent Eurozone inflation data have strengthened the likelihood of an ECB rate cut.Friday’s US economic data raised uncertainty over the likelihood of an aggressive Fed rate cut in September.Chicago Fed President Goolsbee stated that Fed officials are starting to align with the broader market’s sentiment of rate adjustment.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 1.1139* | 1.1192** | 1.1229*** |
| 1.1102 | Support* | 1.1048* | 1.1012** | 1.0958*** |
Weekly forecast：
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GBP/USD
Trend Theme：GBP/USD sticks to intraday gains, remains below mid-1.3100s amid modest USD uptick
Trend Review：
GBP/USD kicks off the new week on a positive note, though the upside seems limited.A weaker risk tone lends support to the safe-haven USD and could act as a headwind.Reviving BoE rate cut bets might further contribute to capping the upside for the GBP.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 1.3210* | 1.3289** | 1.3339*** |
| 1.3160 | Support* | 1.3081* | 1.3031** | 1.2952*** |
Weekly forecast：
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WTI
Trend Theme：Crude oil trading reminder: Demand concerns dragged down oil prices by more than 7% last week, and the market is welcoming three major monthly reports this week
Trend Review：
- International oil prices rebounded slightly, with U.S. crude oil currently trading around $68.64 per barrel. Oil prices closed down nearly 2% on Friday after data showed that U.S. employment data for August was weaker than expected, which overshadowed the support for prices from OPEC+ producers delaying an increase in supply.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 69.28* | 70.92** | 72.20*** |
| 68.00 | Support* | 66.36* | 65.08** | 63.45*** |
Weekly forecast：
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AUD/USD
Trend Theme：Australian Dollar appreciates despite a softer China inflation data
Trend Review：
The Australian Dollar receives support from the hawkish mood surrounding the RBA.China’s Consumer Price Index rose by 0.6% YoY in August, up from 0.5% in July but below the market consensus of 0.7%.The US Dollar receives support due to rising uncertainty over the likelihood of an aggressive Fed rate cut in September.
Today Advise：Sideways
Key Levels：
| PP | Resistance* | 0.6738* | 0.6807** | 0.6846*** |
| 0.6699 | Support* | 0.6631* | 0.6592** | 0.6523*** |
Weekly forecast：
