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
11
March
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By Sagar Dua - 247
Global markets remain in a period of elevated uncertainty. Equities continue to decline after the end of the corporate earnings season, while traders and forex investors are focused on the risk of an energy crisis triggered by military escalation in the Middle East.
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By Sagar Dua
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The US dollar strengthens against the yen, weakens against the pound, and shows mixed dynamics against the euro.
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By Sagar Dua
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The US stock market remains in a corrective phase amid growing investor concerns about a slowdown in the global economy and rising inflationary pressure caused by sharp fluctuations in energy prices following the escalation of the conflict in the Middle East. Against this backdrop, the Dow Jones index is trading in a local sideways trend near 47,890.0.
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By Sagar Dua
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The EUR/USD pair is moving within a corrective trend near the level of 1.1631 amid stable dynamics of the US dollar and neutral macroeconomic data from the EU. Yesterday, Germany reported a decline in imports and exports by 5.9% and 2.3%, respectively, which increased the trade balance surplus from €17.4B to €21.2B. Meanwhile, in France, exports rose to €53.4B while imports decreased to €55.3B, narrowing the trade deficit from –€4.3B to –€1.8B.
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By Sagar Dua
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The pound is extending its bullish momentum, testing the 1.3453 level for an upside breakout during the Asian session, while traders await the release of U.S. inflation data today at 14:30 (GMT+2). Current forecasts suggest that the core consumer price index, which excludes food and energy costs, will remain around 2.5% year-over-year, while on a monthly basis a slight slowdown from 0.3% to 0.2% is possible. However, this will not provide a full picture of the current situation, as it will not yet reflect the latest sharp rise in energy prices caused by the escalation in the Middle East.
10
March
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By Sagar Dua
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European stock indices continue their strong downward movement, driven by two key factors: the reallocation of investment capital from risk assets into bonds and concerns about rapidly rising inflation amid a potential energy crisis in the EU caused by disruptions in energy supplies from Persian Gulf countries. At the moment, the CAC 40 index is trading near the 7941.0 level.
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By Sagar Dua
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The Australian dollar is correcting near 0.7062 after renewing local highs from March 5, while market attention remains focused on the escalation of the Middle East conflict, which has already triggered a sharp rise in oil prices. During the previous Asian session, WTI Crude Oil surged by more than 25.0%, breaking above $110.0 per barrel and reaching its highest level since July 2022.
9
March
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By Sagar Dua
- 259
United States. The U.S. dollar is weakening against the euro and the pound, while showing mixed dynamics against the Japanese yen.
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By Sagar Dua
- 261
The GBP/USD pair continues to show negative dynamics for the second consecutive month and is currently testing the 1.3307 level (Murray level [5/8]) amid escalating geopolitical tensions in the Middle East.
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By Sagar Dua
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During the morning session, the ASX 200 index is showing a local downward trend around 8693.0 amid the completion of the main phase of corporate earnings releases from its major components, as well as a correction in the domestic bond market.
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By Sagar Dua
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During the morning session, the USD/JPY pair is posting modest gains, renewing the highs from January 23 and testing the 158.00 level as traders assess the latest U.S. labor market report. In February, the number of nonfarm payrolls declined by 92.0K, although analysts had expected an increase of 59.0K, while the January figure was revised downward to 126.0K. At the same time, the unemployment rate accelerated to 4.4%, and average hourly earnings remained at 0.4% month-over-month, signaling continued price pressure. Against this backdrop, the yield on 10-year U.S. Treasury bonds remains above 4.100%, while the U.S. Dollar Index is trading near three-month highs, supported by geopolitical tensions.
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By Sagar Dua
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The European currency is testing the 1.1530 level for a potential upside breakout as investors analyze the February U.S. labor market report, which turned out weaker than expected.
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