US Dollar Strengthens as Middle East Tensions, Fed Leadership Focus, and Oil Risks Drive Global Markets
United States of America. The US dollar is posting moderate gains against its main rivals — the euro, the pound, and the yen.
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21
April
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By Sagar Dua - 5
Two weeks ago, shares of The Home Depot Inc., the largest home improvement company, resumed their upward movement after the United States and Iran reached a ceasefire, amid hopes that the two sides would eventually strike a mutually beneficial peace deal that would reopen the Strait of Hormuz, ease pressure on oil prices, and restore demand and consumer confidence. This is especially important for a company that sells a wide range of home-related products through 2,300 retail centers across the country. Against this backdrop, the stock reached seven-week highs and is now holding near 350.60.
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By Sagar Dua
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Since the beginning of the month, Brent Crude Oil prices have been declining amid expectations of a settlement in the US-Iran conflict. After the two sides announced a two-week ceasefire on April 7, the situation moved into a phase of diplomatic consultations and political bargaining, and prices fell to a six-week low of 84.20 last Friday. However, they have now recovered part of the lost ground, returning to the 91.00 mark due to uncertainty surrounding the next developments.
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By Sagar Dua
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During the Asian session, USD/JPY is trading around 158.97 amid a weakening US dollar, with the USDX slipping toward the 98.0 mark and the pair gradually moving away from the psychologically important 160.00 level, a threshold that Japanese financial authorities are seen as using as a signal for the start of currency intervention.
20
April
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By Sagar Dua
- 23
The pound is developing a corrective impulse, recovering during the Asian session after opening with a downside gap and testing the 1.3500 level for an upside breakout, while investors await new drivers for further price movement.
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By Sagar Dua
- 17
During the morning session, USD/JPY is posting modest gains, recovering after Friday’s bearish impulse that pushed the pair to its lowest level since March 19, and is testing the 159.00 mark for an upside breakout, while investors continue to monitor developments in the Middle East crisis.
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By Sagar Dua
- 16
The EUR/USD pair is trading in the 1.1750–1.1760 area, remaining sensitive in the short term to demand for the US dollar as a safe-haven asset: today the dollar rose toward the 98.30 mark in the USDX, while pressure on the euro increased amid another escalation around the Middle East conflict.
16
April
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By Sagar Dua
- 56
Since the beginning of the month, EUR/USD has continued to rise, reaching today’s February peak of 1.1823, supported by geopolitical factors and EU macroeconomic data.
14
April
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By Sagar Dua
- 67
This week, GBP/USD has been posting solid gains and is currently holding near the February high of 1.3530, despite mixed geopolitical signals: investors still hope for a peaceful resolution of the US-Iran conflict, although the first round of bilateral talks, which ended unsuccessfully over the weekend in Islamabad, triggered the start of the US blockade of the Strait of Hormuz.
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By Sagar Dua
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The euro is showing moderate gains against the US dollar during the Asian session on April 14, holding near the local highs recorded on March 2 and extending the fairly strong bullish momentum around 1.1764 that was formed last week, when market participants were expecting the Middle East conflict to wind down following the two-week truce with Iran announced by US President Donald Trump, during which full-scale bilateral negotiations were expected to take place.
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