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.
United States of America. The US dollar is strengthening against the euro and the pound, while showing mixed performance against the yen.
Last week, GBP/USD posted a strong advance as it corrected against the medium-term downtrend and reached the upper boundary of the descending channel near 1.3505. However, the pair gave back part of its gains on Monday.
After yesterday’s decline stopped above the recent low near 80.00, benchmark Brent Crude Oil is correcting slightly above 84.00. Trading activity remains elevated, while prices continue to react primarily to conflicting diplomatic signals from Washington and Tehran and uncertainty surrounding shipping through the Strait of Hormuz.
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
EUR/USD is correcting near 1.1509 as the US dollar weakens and investors assess signs of a temporary easing in US–Iran tensions, stronger eurozone manufacturing activity and the risk that renewed inflationary pressure could weigh on the region’s economic growth later in the year.
Last week, GBP/USD posted a strong advance as it corrected against the medium-term downtrend and reached the upper boundary of the descending channel near 1.3505. However, the pair gave back part of its gains on Monday.
Selling pressure prevailed across global commodity markets during the July 30 trading session. Precious metals were a notable exception, with gold and silver advancing as investors assessed the latest Federal Reserve decision, softer US inflation data and weaker-than-expected economic growth.
During the Asian session, the euro is testing the 1.1514 level as market participants assess the outcome of the Federal Reserve’s two-day meeting, which concluded last Wednesday and broadly matched analysts’ expectations.
United States. The US dollar is weakening against the Japanese yen and the British pound while trading mixed against the euro.
Robinhood has posted its strongest quarter on record, generating $1.31 billion in revenue as prediction markets outpaced crypto and Robinhood Chain continued to gain momentum.
United States. The US dollar is weakening against the Japanese yen while showing mixed performance against the euro and the British pound.
Shares of Apple Inc., one of the world’s largest consumer technology companies and a leading developer of personal computers, tablets and smartphones, are trading within an upward trend near 335.00.
Shares of Alcoa Corp., one of the world’s largest aluminum producers, are trading near 44.00.
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