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
19
March
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By Sagar Dua - 179
The benchmark FTSE 100 index of the London Stock Exchange is showing a local downward trend, trading near 10194.0 ahead of the Bank of England’s monetary policy decision scheduled for 14:00 (GMT+2). The interest rate is expected to remain unchanged at 3.75%, as policymakers continue to assess the economic impact of the escalating Middle East conflict, particularly the sharp rise in energy prices, which could accelerate inflation.
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By Sagar Dua
- 261
During the morning session, Brent Crude Oil prices are extending a short-term upward trend and testing the 108.00 level, as investors assess the outcome of yesterday’s Federal Reserve meeting and the risk of further escalation in the Middle East.
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By Sagar Dua
- 174
The USD/JPY pair is once again holding near the psychological 160.00 level, extending Wednesday’s bullish momentum, when the US dollar managed to recover previously lost ground in a single session. The main driver behind this sharp move was the outcome of the Federal Reserve’s two-day monetary policy meeting: as expected, officials kept the interest rate unchanged in the 3.50–3.75% range, noted the positive pace of economic recovery, acknowledged that job growth remains relatively weak, and reaffirmed their commitment to the long-term 2.0% inflation target.
18
March
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By Sagar Dua
- 177
United States. The US dollar is showing mixed performance against the euro, the pound, and the yen.
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By Sagar Dua
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After reaching a yearly high at 159.75, USD/JPY is correcting lower, while the yen is strengthening, supported by macroeconomic data and official commentary.
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By Sagar Dua
- 218
The pound is gaining ground against the US dollar, extending its bullish momentum during the morning session on March 18 and testing the 1.3370 level for a breakout, while investors and forex traders prepare for the release of the results of the Federal Reserve’s two-day meeting today at 20:00 (GMT+2). According to the CME FedWatch Tool, there is a 99.1% probability that the interest rate will remain unchanged in the current 3.50–3.75% range. However, the updated dot plot and Fed Chair Jerome Powell’s comments on the near-term outlook for monetary policy will be far more important, especially given the escalation of the Middle East crisis and the acceleration of inflation in February.
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By Sagar Dua
- 216
Against the backdrop of volatility in the US dollar, the EUR/USD pair is moving within a corrective trend, holding near 1.1538 while remaining under pressure due to disruptions in oil supplies from the Persian Gulf region.
17
March
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By Sagar Dua
- 161
The United States. The US dollar is losing ground against the pound and showing mixed dynamics against the euro and the yen.
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By Sagar Dua
- 227
Shares of Adobe Inc., a leading U.S. software developer, are trading near 252.00.
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By Sagar Dua
- 235
European equity indices continue to move lower within an active corrective phase, driven by two key factors: a shift of capital from risk assets into bonds and growing concerns over accelerating inflation amid the unfolding energy crisis in the EU. Against this backdrop, the CAC 40 is holding near the 7,918.0 level.
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By Sagar Dua
- 244
During the morning session, the EUR/USD pair is edging lower after yesterday’s bullish move, holding near the 1.1500 level as investors await the release of European macroeconomic data.
16
March
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By Sagar Dua
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Tesla Inc. shares, representing one of the leading electric vehicle makers, are trading near 390.00 as part of a broader corrective move.
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