Forex Market Review: Dollar Gains as Eurozone Growth Slows
United States of America. The US dollar is strengthening against the euro and the pound, while showing mixed performance against the yen.
Markets
26
August
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By Sagar Dua - 134
EUR/USD has been advancing since the beginning of the month and recently reached a three-month high near 1.1710. The rally accelerated after the US Treasury announced that it would raise the maximum size of long-end liquidity-support buybacks from $2.0 billion to at least $4.0 billion per operation. However, the pair later surrendered part of its gains and is currently trading near 1.1655.
19
August
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By Sagar Dua
- 113
GBP/USD is trading around 1.3539 as broadly neutral U.S. dollar dynamics are offset by support from the latest UK labour-market and inflation data.
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By Sagar Dua
- 166
WTI Crude Oil has resumed its advance since the beginning of August and is currently testing the 84.00 area (50.0% Fibonacci retracement), supported by a renewed geopolitical risk premium as the diplomatic track between the United States and Iran has stalled.
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By Sagar Dua
- 122
XAU/USD is trading well above the key 4000.0 support area established this summer as geopolitical tensions in the Persian Gulf continue to intensify.
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By Sagar Dua
- 119
The benchmark U.S. stock market index, the S&P 500, is correcting around 7676.0 as geopolitical tensions intensify in the Persian Gulf region. The parties have announced the suspension of diplomatic consultations, while the Strait of Hormuz remains blocked to commercial shipping.
18
August
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By Sagar Dua
- 136
Japan's benchmark Nikkei 225 is extending its correction and is trading around 67,700–67,800 as rising government bond yields and renewed inflation concerns outweigh support from generally solid corporate earnings.
17
August
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By Sagar Dua
- 114
AUD/USD is moving sideways during Monday's session and remains around the 0.7100 area as investors assess competing signals from the Reserve Bank of Australia and the latest U.S. economic data.
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By Sagar Dua
- 123
USD/JPY is consolidating around 159.30 after recovering much of the decline triggered by the coordinated yen-buying intervention at the end of July. On July 31, Japan's Ministry of Finance purchased yen in coordination with the U.S. Department of the Treasury, and the pair subsequently rebounded toward 159.37, the Murrey [4/8] level, where price action has recently stabilized.
14
August
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By Sagar Dua
- 127
Brent Crude Oil prices remain volatile and are trading around 88.00–89.00, recovering after the previous session's decline as traders balance a sharp increase in U.S. crude inventories against persistent supply risks in the Middle East.
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By Sagar Dua
- 152
USD/CNH is trading near 6.7443 and remains under downside pressure, with the offshore yuan retaining a firm position against the U.S. dollar as investors assess the latest signals from the People's Bank of China (PBOC).
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By Sagar Dua
- 89
EUR/USD reached the upper boundary of its medium-term descending channel near 1.1517 last week and has since been consolidating around this area. The U.S. dollar continues to receive support even after July inflation data confirmed a further moderation in U.S. price pressures.
12
August
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By Sagar Dua
- 92
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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