Forex Market Review: Dollar Weakens as Inflation and Oil Risks Persist
United States of America. The US dollar is weakening against the euro, the pound and the yen.
Markets
16
October
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By Sagar Dua - 3
Australia's benchmark ASX 200 index is showing a local upward trend, trading near 8816.0 during the session.
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By Sagar Dua
- 5
Against the backdrop of a weakening US dollar, the USD/CHF pair has declined toward 0.8271, while the Swiss franc maintains relatively stable positions against most major world currencies.
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By Sagar Dua
- 5
Against the backdrop of weak US dollar performance, the USD/CAD pair is trading near 1.4176, remaining under pressure from positive Canadian macroeconomic data, as also discussed in our previous USD/CAD forecast.
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By John Isige - 5
Shares of Meta Platforms Inc. (META), the US multinational technology company that owns Facebook and other major social media platforms, are trading near 736.00.
15
October
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By Sagar Dua
- 14
The NZD/USD pair is moving within a long-term downward trend, forming a corresponding channel, and is currently stabilising near 0.5600 amid monetary and political uncertainty.
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By Sagar Dua
- 8
The USD/JPY pair is trading within a medium-term descending channel and approaching its upper boundary. A sustained move above 159.37 (Murray level [6/8], middle Bollinger Band, W1) could trigger a breakout from the channel and further growth toward 162.50 (Murray level [8/8]), 164.06 (Murray level [+1/8]) and 165.62 (Murray level [+2/8]). However, if the price breaks below the lower Bollinger Band at 156.25 (Murray level [4/8]), a decline toward 153.12 (Murray level [2/8]) and 151.56 (Murray level [1/8]) may follow. The importance of the 159.37 breakout level was also highlighted in our previous USD/JPY forecast.
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By Sagar Dua
- 11
The leading US technology stock index, the Nasdaq 100 (NQ 100), is correcting near 29661.0.
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By Sagar Dua
- 9
The EUR/USD pair continues to decline for the second consecutive month and yesterday reached a new 17-month low near 1.1112 following the release of September US inflation data. However, the euro subsequently recovered some of its losses amid comments from Federal Reserve officials that tempered expectations of an immediate interest rate increase.
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By Sagar Dua
- 11
Against the backdrop of a neutral trend in the US dollar, the GBP/USD pair is correcting near 1.3243, while the pound remains stable against other major world currencies.
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By Sagar Dua
- 25
Shares of ExxonMobil Holdings Corporation (XOM), a major US oil and gas company, are trading near 177.00.
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By Sagar Dua
- 11
Against the backdrop of fluctuating US dollar dynamics, the AUD/USD pair is correcting near 0.6956 under pressure from disappointing Australian macroeconomic data.
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