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.
Markets
4
November
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By Sagar Dua - 270
Last week, the USD/JPY pair climbed to its February high of 154.47 as the U.S. dollar strengthened sharply amid expectations of a potential “hawkish reversal” by the Federal Reserve. During the latest meeting, the Fed cut the benchmark interest rate by 25 basis points to 4.00%. However, Fed Chair Jerome Powell later stated that another rate cut in December is not guaranteed, emphasizing the need to pause and assess the economic impact of previous decisions. This cautious tone disappointed investors and weakened confidence in the prospect of further monetary easing this year.
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By John Isige - 576
Mary Daly backs the Fed’s cut — and keeps December open
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By Sagar Dua
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The USD/CNH pair is consolidating around 7.1258, preparing to extend its upward trend amid U.S. dollar strength and mixed macroeconomic data from China.
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By Sagar Dua
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Brent Crude Oil prices are trading around 64.56 following the two-sided summit between the leaders of the United States and China, which could prove pivotal in easing trade tensions between the two countries.
3
November
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By Sagar Dua
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United States of America. The U.S. dollar is rising against the euro, the pound, and the yen.
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By Sagar Dua
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The Dow Jones Industrial Average is consolidating near 47,630.0 in a short-term sideways trend as investors focus on quarterly earnings from major oil producers. Chevron Corp. reported revenue of $49.73 billion, down from $50.67 billion a year earlier, and earnings per share of $1.85 versus $2.51 previously. Exxon Mobil Corp. posted revenue of $85.29 billion, compared to $90.02 billion last year, with EPS declining to $1.88 from $1.92. Despite these mixed corporate results, monetary policy remains the primary driver for equity indices.
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By Sagar Dua
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During the Asian session, the USD/JPY pair trades near 154.17, staying within an ascending channel between 156.00 and 148.00. The yen is weakening after the Bank of Japan decided to keep its key rate at 0.50%, despite consumer inflation remaining above the 2.0% target for 41 consecutive months — a result broadly in line with Reuters’ analyst expectations.
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By Sagar Dua
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The USD/CAD pair is consolidating near 1.4011 as weak Canadian macroeconomic data signal that the economy is edging closer to recession.
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By Sagar Dua
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The GBP/USD pair is trading near 1.3139 as investors await the release of the new UK government budget, with the annual deficit currently estimated at around £25.0 billion.
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By Sagar Dua
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The EUR/USD pair is losing ground, holding around 1.1537 after the European Central Bank (ECB) kept rates unchanged last week: the main refinancing rate at 2.15%, the deposit rate at 2.00%, and the marginal lending rate at 2.40%. In the view of policymakers, inflation is close to the 2.0% medium-term target and the overall outlook hasn’t materially changed, as the economy continues to recover despite a challenging global backdrop, with a strong labor market and earlier policy moves acting as key pillars of resilience. Still, as ECB President Christine Lagarde noted, while services continue to expand, manufacturing is being constrained by higher tariffs and uncertainty over the currency’s path. Today the euro area releases a broad set of PMI data: if Italy, France, and Germany rise from 49.0, 48.3, and 49.6, respectively — and the region overall from 50.0 — that could fuel a short-term rebound in the single currency.
1
November
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By Sagar Dua
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United States. The U.S. dollar is strengthening against the euro and pound but showing mixed dynamics versus the yen.
31
October
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By Sagar Dua
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USD/CHF. The pair trades near 0.8023, rising toward the resistance level of 0.8065.
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