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.
The GBP/USD pair continued to decline under the influence of monetary factors, reaching the 1.3500 level.
The euro-to-dollar exchange rate (EUR/USD) briefly climbed above the 1.20 mark in January, but later retreated toward the 1.18 area as the US dollar partially recovered against European currencies.
United States. The U.S. dollar is losing ground against the euro and the pound, while showing mixed performance against the yen.
Amid positive momentum in the US dollar, the USD/JPY pair is trading around 155.18.
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).
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