Forex Market Review: Dollar Firms, German Ifo Rises
United States of America. The US dollar is strengthening against the pound and the yen, while showing mixed performance against the euro.
United States of America. The US dollar is strengthening against the pound and the yen, while showing mixed performance against the euro.
During the Asian session, WTI Crude Oil prices are moving toward February highs near 101.95. In Friday’s trading, the instrument gained $5.16, ending the week at 99.64. Investors remain confident that the Middle East conflict will expand with the involvement of additional participants, which could negatively impact energy supplies from the region.
The XAU/USD pair is extending last Friday’s bullish momentum, testing the 4515.00 level for an upside breakout during the Asian session. The key driver of the upward movement remains the escalation of the U.S.–Iran conflict, which by the end of March entered an expansion phase involving additional participants and increasing risks for the global economy.
United States. The US dollar is strengthening against the euro, pound, and yen.
The shares of The Home Depot Inc., the largest home improvement retailer, are trading near 327.00.
During the Asian session, the AUD/USD pair is correcting within a bearish trend near 0.6903 amid positive momentum in the US dollar and rising oil prices, which by the end of the week again triggered declines in stock markets of energy-import-dependent economies such as Australia and New Zealand.
This week, amid geopolitical instability in the Middle East and the blockade of the Strait of Hormuz, WTI Crude Oil prices reached 95.50. Military actions by the US-Israel coalition against Iran began on February 28 following the lack of consensus over its nuclear program, and during the armed confrontation, quotes peaked at 119.00.
European stock indices continue their active correction, driven by two main factors — the ongoing rotation of investment capital from risk assets into bonds and concerns about accelerating inflation amid the rapidly developing energy crisis in the EU caused by the US-Iran confrontation. Against this backdrop, CAC 40 quotes remain near the 7799.0 level
The euro is developing a corrective impulse, recovering from the bearish momentum of the last three sessions and preparing to end the week with near-neutral dynamics as market participants analyze the outcomes of the European Central Bank (ECB) and US Federal Reserve monetary policy meetings.
Gold is experiencing its longest losing streak in 106 years — despite the escalation of the conflict around Iran. At the same time, stablecoin giant Tether could emerge as a potential support factor for the precious metal.
United States. The US dollar is strengthening against its main rivals — the euro, pound, and yen.
Shares of HP Inc., the multinational giant in personal computers and printers, are trading in a corrective trend near 19.00.
This week, the USD/JPY pair is rising, testing the 159.47 resistance level following the release of the Bank of Japan meeting minutes and macroeconomic data.
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