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.
EUR/USD. The euro is trading mixed against the US dollar, holding near 1.1700 and consolidating close to the local highs from 17 October, which were updated at the opening of Thursday’s session. Forex traders and investors remain focused on the US Federal Reserve’s rate decision, released yesterday.
Last week, the XAU/USD pair stabilized around 4218.75 (Murray level [6/8]) amid two key sources of uncertainty: the outlook for U.S. Federal Reserve monetary policy and developments surrounding the Russia–Ukraine conflict.
The USD/CNH pair remains highly sensitive to the trade confrontation between China and the United States, which has somewhat eased over recent months. Since October, the leaders of both countries have repeatedly discussed trade terms and options for improving them: in a recent speech, U.S. President Donald Trump stated that the parties had made substantial progress.
The GBP/USD pair is consolidating near 1.3305, holding a bullish bias as the US dollar shows a neutral trend. The pound is gaining support from expectations tied to Friday’s economic release and next week’s Bank of England policy decision.
EUR/USD. The EUR/USD pair is holding near 1.1630 as investors await the outcome of the US Federal Reserve meeting, which will be released today at 21:00 (GMT+2). At this point, there is virtually no doubt that the regulator will cut the interest rate by 25 basis points to 3.75% and may also signal a shift toward monetary easing in early 2026.
The US dollar is losing value against the USD/JPY pair, correcting after strong growth earlier this week: the instrument is again preparing to test the 156.65 mark for a downward breakout, retreating from local highs from November 24 that were updated yesterday.
The EUR/USD pair is testing resistance at 1.1645, trying to extend its upside momentum on the back of macroeconomic data from the euro area.
The UK’s leading stock index, the FTSE 100, is trading sideways around 9632.0. The end of the corporate earnings season has noticeably reduced market volatility as capital flows out of risk assets, and macroeconomic data along with developments in the bond market are once again driving index movements.
The British pound is gaining against the US dollar, with GBP/USD trading near 1.3329 and extending a very cautious bullish move from the previous session. Market participants remain restrained ahead of the upcoming Federal Reserve decision, where traders expect a 25 bps rate cut to 3.75%.
EUR/USD. The European currency shows mixed dynamics in the EUR/USD pair, consolidating near 1.1645. Market activity remains low as investors are in no rush to open new trading positions ahead of the U.S. Federal Reserve meeting, scheduled for December 10.
EUR/USD. The European currency shows mixed dynamics in the EUR/USD pair, consolidating near 1.1645. Market activity remains low as investors and forex traders avoid entering new positions ahead of the U.S. Federal Reserve meeting, with the results scheduled for December 10.
EUR/USD The single European currency is gaining against the U.S. dollar in the EUR/USD pair, recovering after last week’s decline. The instrument is testing the 1.1655 level for an upside breakout as market participants await the outcome of the two-day U.S. Federal Reserve meeting.
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