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.
The pound is developing a corrective impulse, recovering during the Asian session after opening with a downside gap and testing the 1.3500 level for an upside breakout, while investors await new drivers for further price movement.
During the morning session, USD/JPY is posting modest gains, recovering after Friday’s bearish impulse that pushed the pair to its lowest level since March 19, and is testing the 159.00 mark for an upside breakout, while investors continue to monitor developments in the Middle East crisis.
The EUR/USD pair is trading in the 1.1750–1.1760 area, remaining sensitive in the short term to demand for the US dollar as a safe-haven asset: today the dollar rose toward the 98.30 mark in the USDX, while pressure on the euro increased amid another escalation around the Middle East conflict.
Since the beginning of the month, EUR/USD has continued to rise, reaching today’s February peak of 1.1823, supported by geopolitical factors and EU macroeconomic data.
United States. The US dollar is losing ground against the euro and the pound, but is strengthening against the yen.
This week, GBP/USD has been posting solid gains and is currently holding near the February high of 1.3530, despite mixed geopolitical signals: investors still hope for a peaceful resolution of the US-Iran conflict, although the first round of bilateral talks, which ended unsuccessfully over the weekend in Islamabad, triggered the start of the US blockade of the Strait of Hormuz.
The euro is showing moderate gains against the US dollar during the Asian session on April 14, holding near the local highs recorded on March 2 and extending the fairly strong bullish momentum around 1.1764 that was formed last week, when market participants were expecting the Middle East conflict to wind down following the two-week truce with Iran announced by US President Donald Trump, during which full-scale bilateral negotiations were expected to take place.
XAU/USD is consolidating near $4,719.3 per troy ounce after opening the morning session with a gap lower, as traders attempt to assess the likelihood of further escalation in the Middle East conflict.
WTI Crude Oil prices continue to move in a corrective pattern, holding near $95.85 per barrel during the Asian session amid ongoing uncertainty following unsuccessful talks on ending the Middle East crisis.
USD/JPY remains in a short-term uptrend and is preparing to break above the 159.47 level during the Asian session, supported by weak macroeconomic data from Japan, although these figures have not been enough to trigger a significant strengthening of the US dollar.
United States. The US dollar is posting moderate losses against the euro and the pound, while gaining ground against the yen.
United States. The US dollar is losing ground against major peers, including the euro, pound, and yen.
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