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
20
November
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By Sagar Dua - 354
Shares of ExxonMobil Corp., the U.S. oil and gas company, are trading within a medium-term upward trend. Last week, the price tested the 118.75 level (Murray level [8/8]), but has not yet managed to consolidate above it.
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By Sagar Dua
- 423
The global upward trend in the shares of the diversified corporation General Electric Co. continues, with the price trading just below the 300.00 mark.
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By John Isige - 352
This week, the EUR/USD pair is moving lower, attempting to consolidate below 1.1536 (Murray level [1/8]) amid signs that the Federal Reserve is stepping back from further monetary easing.
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By Sagar Dua
- 325
The leading U.S. equity benchmark, the S&P 500, is pulling back toward the 6723.0 level.
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By Sagar Dua
- 329
EUR/USD. The euro is losing ground against the US dollar, extending a short-term bearish trend. The pair is testing the 1.1520 level to the downside as traders await key US labour-market data due at 13:30 GMT, which had been delayed by the record-long government shutdown.
19
November
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By Sagar Dua
- 340
The GBP/USD pair found support near 1.30, but the recovery stalled around 1.32 before the price started drifting lower again.
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By Sagar Dua
- 353
The GBP/USD pair is finding support around the 1.30 level, but its recovery remains sluggish and faces notable resistance.
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By Sagar Dua
- 395
United States. The US dollar is strengthening against the yen and the pound, while showing mixed performance versus the euro.
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By Sagar Dua
- 371
The Pound to Euro exchange rate (GBP/EUR) dropped to its lowest level in 30 months last week, sliding toward 1.1280 amid political uncertainty and fiscal concerns. The pair later steadied around 1.1350.
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By Sagar Dua
- 676
The euro to dollar exchange rate (EUR/USD) is currently trading just below 1.16 as market sentiment remains fragile and investors show increased caution.
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By Sagar Dua
- 447
EUR/USD. The euro is trading mixed against the US dollar, consolidating around the 1.1600 area. Market participants are reluctant to open new positions ahead of today’s eurozone inflation release at 12:00 (GMT+2) and the minutes of the October FOMC meeting at 21:00 (GMT+2).
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By Sagar Dua
- 312
The USD/JPY pair has broken above the 154.80 resistance level, updating a nine-month high following the release of Japan’s GDP data. According to preliminary estimates, the economy contracted from 0.6% to –0.4% in quarterly terms (better than the –0.6% forecast) and from 2.3% to –1.8% year-on-year, while the GDP deflator eased from 2.9% to 2.8% versus expectations of 3.1%. These figures entered negative territory for the first time in a year and a half, largely due to declining exports under pressure from US trade tariffs. However, analysts note that the overall downturn was not as severe as anticipated and likely represents a temporary slowdown rather than the beginning of a recession. The main drivers of weakness were one-off factors such as a drop in residential investment, influenced by regulatory changes and the lack of a strong catalyst capable of reversing the trend. Markets are now awaiting the launch of a government stimulus package estimated at over JPY 17 trillion (around USD 110 billion). Such large-scale liquidity expansion is expected to weigh on the national currency in the long run, and since early October USD/JPY has already gained 5.17%.
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