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.
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
Shares of Alibaba Group Holding Ltd., one of the world’s largest e-commerce companies, are trading around 157.00.
EUR/USD. The euro is showing mixed trading dynamics, consolidating near the 1.1790 level during the Asian session and close to the local lows of February 6, as market participants await new catalysts. In particular, attention today will be focused on remarks from European Central Bank (ECB) officials, which may provide signals regarding future changes in monetary policy.
Shares of Johnson & Johnson, one of the leading retail-oriented conglomerates, are rising strongly within a long-term uptrend, trading at a record high of 243.75 (Murray level [7/8]) and gaining more than 15.0% since the beginning of the year.
Shares of Nvidia Corp., the U.S. giant in graphics processor development, are trading at the 185.00 level.
The U.S. dollar is strengthening against the euro and the yen, but weakening against the pound.
During the Asian session, the GBP/USD pair is holding near 1.3556, developing a bearish impulse formed the previous day. The driver behind the strengthening downside momentum was a weak report on the UK labor market.
EUR/USD. The EUR/USD pair is trading near 1.1844, extending an ultra-short-term corrective move. Prices refreshed the local lows seen on February 6, but by late Tuesday’s session the pair had almost fully recovered its losses despite weak data from the Centre for European Economic Research (ZEW).
The EUR/USD pair is trading around 1.1844, developing a very short-term corrective trend. Within this move, prices updated local lows from February 6 but recovered almost all losses by the end of Tuesday’s session, despite the release of weak data from the Centre for European Economic Research (ZEW).
The US dollar is strengthening against the euro and the pound but losing ground against the yen.
The EUR/USD pair is correcting after reaching multi-year highs near 1.2080 at the end of January, retreating toward the middle line of the Bollinger Bands at 1.1840 (Murray level [1/8]), as the US dollar remains supported by monetary factors.
The Dow Jones Industrial Average is consolidating in a local sideways range near 49,334.0, supported by macroeconomic data on the labor market and inflation, which are signaling a potential return to a “dovish” monetary policy cycle by the U.S. Federal Reserve as early as June—immediately following the appointment of a new Fed chair.
During the Asian session, the GBP/USD pair is correcting near 1.3607, retaining potential for a continuation of the upward trend despite the strengthening of the U.S. dollar against its major peers.
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