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
18
February
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By Sagar Dua - 283
The US dollar is strengthening against the euro and the pound but losing ground against the yen.
17
February
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By Sagar Dua
- 249
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.
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By Sagar Dua
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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.
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By Sagar Dua
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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.
16
February
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By Sagar Dua
- 281
The U.S. dollar is strengthening against the euro and the yen but weakening against the pound.
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By Sagar Dua
- 304
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.
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By Sagar Dua
- 273
Shares of ExxonMobil Corp., the U.S. oil major, are consolidating in a sideways trend near the 148.00 level.
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By Sagar Dua
- 307
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.
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By Sagar Dua
- 254
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.
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By Sagar Dua
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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.
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By John Isige - 317
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.
13
February
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By Sagar Dua
- 349
Shares of Volkswagen AG, the German automotive group, are trading slightly above the 102.00 level.
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