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
12
March
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By Sagar Dua - 305
United States. The US dollar is losing ground against the euro and showing mixed dynamics against the yen and the pound.
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By Sagar Dua
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The GBP/USD pair is correcting near the 1.3368 level as the pound failed to maintain its upward momentum amid continued demand for the US dollar.
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By Sagar Dua
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This week the EUR/USD pair showed mixed dynamics. Initially, after the release of weak February data from the US labor market — which reflected an increase in unemployment from 4.3% to 4.4% and a decline in employment by 92.0K instead of the expected increase of 58.0K — the pair returned to the 1.1665 area. However, it later lost its gains as the military confrontation between the United States and Iran continues, while hints from President Donald Trump about a possible end to the operation have not materialized, supporting the dollar as a safe-haven asset.
11
March
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By Sagar Dua
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Shares of IBM Corp., a global leader in hardware and software development, are currently trading at 251.00.
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By Sagar Dua
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Global markets remain in a period of elevated uncertainty. Equities continue to decline after the end of the corporate earnings season, while traders and forex investors are focused on the risk of an energy crisis triggered by military escalation in the Middle East.
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By Sagar Dua
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The US dollar strengthens against the yen, weakens against the pound, and shows mixed dynamics against the euro.
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By Sagar Dua
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The US stock market remains in a corrective phase amid growing investor concerns about a slowdown in the global economy and rising inflationary pressure caused by sharp fluctuations in energy prices following the escalation of the conflict in the Middle East. Against this backdrop, the Dow Jones index is trading in a local sideways trend near 47,890.0.
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By Sagar Dua
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The EUR/USD pair is moving within a corrective trend near the level of 1.1631 amid stable dynamics of the US dollar and neutral macroeconomic data from the EU. Yesterday, Germany reported a decline in imports and exports by 5.9% and 2.3%, respectively, which increased the trade balance surplus from €17.4B to €21.2B. Meanwhile, in France, exports rose to €53.4B while imports decreased to €55.3B, narrowing the trade deficit from –€4.3B to –€1.8B.
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By Sagar Dua
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The pound is extending its bullish momentum, testing the 1.3453 level for an upside breakout during the Asian session, while traders await the release of U.S. inflation data today at 14:30 (GMT+2). Current forecasts suggest that the core consumer price index, which excludes food and energy costs, will remain around 2.5% year-over-year, while on a monthly basis a slight slowdown from 0.3% to 0.2% is possible. However, this will not provide a full picture of the current situation, as it will not yet reflect the latest sharp rise in energy prices caused by the escalation in the Middle East.
10
March
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By Sagar Dua
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European stock indices continue their strong downward movement, driven by two key factors: the reallocation of investment capital from risk assets into bonds and concerns about rapidly rising inflation amid a potential energy crisis in the EU caused by disruptions in energy supplies from Persian Gulf countries. At the moment, the CAC 40 index is trading near the 7941.0 level.
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By Sagar Dua
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The Australian dollar is correcting near 0.7062 after renewing local highs from March 5, while market attention remains focused on the escalation of the Middle East conflict, which has already triggered a sharp rise in oil prices. During the previous Asian session, WTI Crude Oil surged by more than 25.0%, breaking above $110.0 per barrel and reaching its highest level since July 2022.
9
March
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By Sagar Dua
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United States. The U.S. dollar is weakening against the euro and the pound, while showing mixed dynamics against the Japanese yen.
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