Dollar Slips and Oil Falls as Markets Reprice Fed and Iran Risks
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
Markets
12
August
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By Sagar Dua - 9
GBP/USD resumed its advance in late July and is now approaching 1.3549, the Murrey [6/8] level, as markets assess a more stable domestic political backdrop in the UK and the first economic measures introduced by new Prime Minister Andy Burnham.
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By Sagar Dua
- 7
The CAC 40 is maintaining positive momentum and was trading around 8,717.0 at the time of writing, while investors continue to assess developments in the Middle East and the ongoing half-year and second-quarter corporate earnings season.
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By Sagar Dua
- 7
XAU/USD remains well above this summer's key 4,000.0 support level and is trading around 4,419.8. Although the Middle East conflict remains one of the market's main themes, investors are also paying increasing attention to the continuing expansion of gold trading and storage infrastructure in Asia.
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By Sagar Dua
- 7
Since the beginning of the month, EUR/USD has been moving higher and has reached the upper boundary of its medium-term descending channel. However, the pair has so far been unable to break above it as the US dollar has strengthened amid renewed geopolitical tensions in the Persian Gulf.
11
August
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By Sagar Dua
- 13
The FTSE 100 is showing a modest local recovery and was trading around 10,863.0 at the time of writing on August 11, while uncertainty surrounding the Middle East and the ongoing half-year and quarterly corporate earnings season continues to influence sentiment.
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By Sagar Dua
- 16
WTI Crude Oil futures remain above the key $80.00-per-barrel level, with prices continuing to react sharply to developments surrounding the Strait of Hormuz and the broader Middle East situation.
10
August
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By Sagar Dua
- 19
USD/CHF is trading around 0.8092 as pressure on the US dollar continues, although the pair remains within the broader trading structure that has dominated since the beginning of the summer.
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By Sagar Dua
- 14
USD/JPY remains well below the multi-decade highs reached in late July and is trading around 158.26 during the morning session as the yen retains part of the gains that followed coordinated intervention by Japanese and US authorities.
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By Sagar Dua
- 18
The S&P 500 is trading around 7,760 after reaching a record close last week, while investors continue to assess developments around the Strait of Hormuz, upcoming US inflation data and the latest corporate earnings. Hopes for greater shipping access through the key energy route supported risk appetite last week, although uncertainty over a final agreement remains.
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By Sagar Dua
- 21
EUR/USD has been strengthening since the end of last month, although the pair remains within a medium-term descending channel and is currently trading near its upper boundary around 1.1560.
7
August
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By Sagar Dua
- 27
NZD/USD is correcting near 0.5863 as the New Zealand dollar comes under pressure from signs of renewed weakness in the domestic labour market, while the US currency remains broadly stable near recent levels.
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By Sagar Dua
- 33
GBP/USD is correcting near 1.3453 as a firmer US dollar limits the pair’s upside, while the pound continues to draw some support from improving UK business activity.
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