Tuesday Briefing: From DXY to Latest Russia – Ukraine Conflicts; Aug 02, 2022

US Dollar Index Overview
- The DXY recovers sharply from previous losses and hovers around 105.50 mark.
- It made intraday high at 105.55 and low at 105.04 mark.
- A day Chart is up and H1 chart with triple EMA suggests down trend for the time being.
- Immediate hurdles are seen at 105.90 to 105.40 mark.
- A sustained close of either side on H1 chart requires for the further directions of the U.S. dollar.
Key Headlines for the FX market:
- Stocks slipped and bond yields fell on Tuesday on worries a visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan would further harm relations between China and the United States.
- The Japanese yen was on track for its biggest run of gains since the depths of the coronavirus crisis in March 2020, as rising U.S.-China tensions over Taiwan and deepening worries about a global economic slowdown boosted the appeal of safe-haven assets.
- Taiwan is preparing its air-raid shelters as rising tension with China and Russia’s invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island.
- The frontrunner to become British prime minister, Liz Truss, said she would scrap plans to restrict multi-buy deals on food and drink high in fat, salt, or sugar and would not impose any new levies on unhealthy food.
- U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.
- U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said, the latest such heist to hit the digital asset sector this year.
- America’s largest warehouse market is full as major U.S. retailers warn of slowing sales of the clothing, electronics, furniture and other goods that have packed the distribution centers east of Los Angeles.
- China has suspended imports from 35 Taiwanese exporters of biscuits and pastries since Monday, in a warning salvo to the self-governed island ahead of a potential visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi.
- Somalia’s prime minister has named former al Shabaab group co-founder and spokesperson Muktar Robow as a minister in the country’s new cabinet, a move that could either help strengthen the fight against the insurgency or provoke clan clashes.
- A U.S. air force jet that flew U.S. House of Representatives Speaker Nancy Pelosi to Malaysia headed towards Borneo before turning north to the Philippines in the most tracked flight on tracking website Flightradar24 on Tuesday.
Latest updates on Russia – Ukraine Conflicts:
- The first ship carrying Ukrainian grain to world markets since Russia’s invasion blocked exports more than five months ago is on track to safely arrive in Istanbul on Tuesday night, amid Ukrainian fears it could still run into problems.
- Russia on Tuesday said that the United States, the world’s top military power, was directly involved in the conflict in Ukraine because U.S. spies were approving and coordinating Ukrainian missile strikes on Russian forces.
Source: Reuters
Keep an eye open for the latest news and fundamentals affecting the FX markets.
Take a look and do trade wisely!
Good Luck

TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills