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.
The U.S. dollar is strengthening against the euro and the yen but weakening against the pound.
During the Asian session, XAU/USD quotes show a modest decline, once again slipping below the psychological level of $5,050 per troy ounce amid fundamental shifts in the assessment of inflation dynamics and U.S. monetary policy.
Shares of ExxonMobil Corp., the U.S. oil major, are consolidating in a sideways trend near the 148.00 level.
The USD/CAD pair is correcting near 1.3617, with the Canadian dollar showing stable performance amid the absence of major shifts in macroeconomic data and the ongoing correction in the US dollar.
One of the leading indices of the European economy, the CAC 40, continues to hold near the 8311.0 level, reflecting declining momentum in the bond market and mixed fourth-quarter earnings reports from its constituent companies.
USD/JPY. The U.S. dollar is posting moderate gains against the Japanese yen, consolidating around the 153.25 level during the Asian session after a strong bearish move last week. The pair is reacting to fundamental shifts in Japan’s political landscape as well as a reassessment of global fiscal and monetary expectations.
EUR/USD. The euro shows mixed dynamics against the U.S. dollar, consolidating near 1.1860. Trading activity at the start of the new week remains subdued as U.S. markets are closed for Presidents’ Day.
Shares of Volkswagen AG, the German automotive group, are trading slightly above the 102.00 level.
S&P 500 quotes are correcting near 6,833.0: midweek trading on the U.S. equity market was marked by tentative signs of positive momentum, with major indices showing a moderate recovery amid relative stabilization in U.S. Treasury yields and subdued movements in the dollar. However, labor market data shifted investor sentiment, reinforcing caution in assessing the macroeconomic outlook.
The U.S. dollar is strengthening against the Japanese yen and the euro, while showing mixed dynamics against the British pound.
The Australian dollar is posting a moderate decline, testing the 0.7080 level for a downside breakout during the Asian session. At the same time, the AUD/USD pair is set to end the trading week in positive territory, supported by the hawkish rhetoric of the Reserve Bank of Australia (RBA). Recall that on February 3, the regulator raised the key interest rate by 25 basis points to 3.85%, becoming one of the first central banks to sharply shift its monetary policy stance.
During the Asian session, the EUR/USD pair is holding near the 1.1869 level. The euro has failed to develop a sustained upward move amid neutral macroeconomic data and negative assessments from international auditing firm Deloitte.
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