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
27
November
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By Sagar Dua - 309
Shares of coffee retailer Starbucks Corp. are trading in a corrective trend around the 86.00 level.
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By Sagar Dua
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The USD/JPY pair is correcting around 155.83 amid expectations of changes in the Bank of Japan’s monetary policy.
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By Sagar Dua
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The GBP/USD pair is correcting around the 1.3257 level following the publication of the UK government budget plan by Chancellor of the Exchequer Rachel Reeves, which increases tax revenues by £26.0 billion to 38.0% of gross domestic product (GDP).
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By Sagar Dua
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This week, the EUR/USD pair is correcting higher toward the medium-term downtrend as a possible divergence in the monetary policy paths of the European Central Bank (ECB) and the U.S. Federal Reserve plays out, with the price testing 1.1597 (Murrey level [2/8]).
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By Sagar Dua
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EUR/USD. The euro is gaining ground against the US dollar, testing the 1.1600 level to the upside. The pair is preparing to end the current week with a fairly solid gain, while the main driver behind the correction in the greenback remains expectations of a Federal Reserve rate cut as early as the December meeting. According to the CME Group FedWatch Tool, the probability of such a scenario currently stands at 85.0%.
26
November
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By Sagar Dua
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EUR/USD. The euro is showing mixed dynamics against the U.S. dollar, consolidating near the 1.1600 level. The pair is developing an upward impulse formed earlier amid expectations of a potential decline in U.S. Federal Reserve borrowing costs.
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By Sagar Dua
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Deutsche Bank believes the British Pound is positioned for a short-term relief rally on Wednesday, provided that the government’s budget avoids negative surprises related to gilt issuance, near-term deficit projections, and the amount of remaining fiscal headroom.
25
November
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By Sagar Dua
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EUR/USD. The euro is gaining in the EUR/USD pair, developing a weak bullish momentum formed the day before and testing the 1.1515 level for an upside breakout, while investors are waiting for new catalysts that could clarify the outlook for the European Central Bank’s (ECB) monetary policy.
24
November
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By Sagar Dua
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Netflix Inc. shares, the American entertainment company and streaming service for movies and TV series, are trading at the level of 104.00.
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By Sagar Dua
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The US dollar is trading with near-flat dynamics against the Japanese yen around 156.63. The pair ended last week with moderate gains and also managed to обновить record January highs.
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By Sagar Dua
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EUR/USD. The euro shows modest gains against the US dollar, correcting after the predominantly bearish movement of last week, which led to a renewal of the local lows from November 6. Market participants and forex traders are in no hurry to open new positions, waiting for fresh drivers to emerge.
21
November
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By Sagar Dua
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EUR/USD. The euro is trading mixed against the US dollar in the EUR/USD pair, consolidating near 1.1530 as investors wait for the release of November business activity data from S&P Global and Hamburg Commercial Bank (HCOB) at 11:00 (GMT+2).
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