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.
Markets
19
March
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By Sagar Dua - 381
Shares of 3M Co., a US-based diversified industrial and innovation company, are trading near 145.00.
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By Sagar Dua
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United States. The US dollar is losing ground against the yen and showing mixed performance against the euro and the pound.
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By Sagar Dua
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This week, the EUR/USD pair climbed to the 1.1555 area but then lost its gains following the release of the Federal Reserve’s policy decision.
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By Sagar Dua
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The AUD/USD pair is forming a trading range between 0.7140 and 0.6985 as the market awaits new catalysts to drive further movement.
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By Sagar Dua
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The benchmark FTSE 100 index of the London Stock Exchange is showing a local downward trend, trading near 10194.0 ahead of the Bank of England’s monetary policy decision scheduled for 14:00 (GMT+2). The interest rate is expected to remain unchanged at 3.75%, as policymakers continue to assess the economic impact of the escalating Middle East conflict, particularly the sharp rise in energy prices, which could accelerate inflation.
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By Sagar Dua
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During the morning session, Brent Crude Oil prices are extending a short-term upward trend and testing the 108.00 level, as investors assess the outcome of yesterday’s Federal Reserve meeting and the risk of further escalation in the Middle East.
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By Sagar Dua
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The USD/JPY pair is once again holding near the psychological 160.00 level, extending Wednesday’s bullish momentum, when the US dollar managed to recover previously lost ground in a single session. The main driver behind this sharp move was the outcome of the Federal Reserve’s two-day monetary policy meeting: as expected, officials kept the interest rate unchanged in the 3.50–3.75% range, noted the positive pace of economic recovery, acknowledged that job growth remains relatively weak, and reaffirmed their commitment to the long-term 2.0% inflation target.
18
March
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By Sagar Dua
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United States. The US dollar is showing mixed performance against the euro, the pound, and the yen.
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By Sagar Dua
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After reaching a yearly high at 159.75, USD/JPY is correcting lower, while the yen is strengthening, supported by macroeconomic data and official commentary.
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By Sagar Dua
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The pound is gaining ground against the US dollar, extending its bullish momentum during the morning session on March 18 and testing the 1.3370 level for a breakout, while investors and forex traders prepare for the release of the results of the Federal Reserve’s two-day meeting today at 20:00 (GMT+2). According to the CME FedWatch Tool, there is a 99.1% probability that the interest rate will remain unchanged in the current 3.50–3.75% range. However, the updated dot plot and Fed Chair Jerome Powell’s comments on the near-term outlook for monetary policy will be far more important, especially given the escalation of the Middle East crisis and the acceleration of inflation in February.
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By Sagar Dua
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Against the backdrop of volatility in the US dollar, the EUR/USD pair is moving within a corrective trend, holding near 1.1538 while remaining under pressure due to disruptions in oil supplies from the Persian Gulf region.
17
March
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By Sagar Dua
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The United States. The US dollar is losing ground against the pound and showing mixed dynamics against the euro and the yen.
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