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
13
November
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By Sagar Dua - 307
The U.S. dollar continues its strong upward move in the USD/JPY pair, testing the 154.80 level for a breakout during the Asian session. The yen is once again renewing nine-month lows, remaining under pressure following the release of October’s producer inflation data: on a yearly basis the indicator slowed from 2.8% to 2.7% (analysts expected 2.5%), while the monthly reading eased from 0.5% to 0.4%.
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By Sagar Dua
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EUR/USD. The euro is posting moderate gains in the EUR/USD pair, updating the local highs from October 30. The instrument is supported by expectations that the U.S. government shutdown will finally end: federal agencies were closed for 43 days, and only at the beginning of this week did the Senate manage to approve a bill on temporary funding through the end of January 2026. The bill then passed the House of Representatives and was ultimately signed by President Donald Trump.
12
November
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By Ihor - 351
The USD/JPY pair is consolidating in a sideways trend around 154.65 amid uncertainty regarding the Bank of Japan’s future monetary policy.
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By Sagar Dua
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During the morning session, the EUR/USD pair trades in a corrective trend around 1.1571. EU internal data remains too weak to shift market sentiment significantly, while the U.S. dollar’s decline is not strong enough to reverse the broader trend.
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By Sagar Dua
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A pause in the Bank of England’s dovish cycle, which left the interest rate unchanged at 4.00%, may weaken the national currency. The U.S. dollar, meanwhile, will remain highly dependent on the Federal Reserve’s monetary policy through the end of the year: if the expected December rate cut takes place, the greenback could receive short-term support amid the government’s reopening.
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By Sagar Dua
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The leading index of the Frankfurt Stock Exchange, DAX 40, is trading around 24,226.0. The market maintains the strong positions achieved earlier this spring and continues to hold near local highs, despite mixed corporate earnings from major index components.
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By Sagar Dua
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During the morning session, USD/CHF is showing a slight decline, consolidating below the psychological level of 0.8000 amid expectations of an imminent end to the U.S. government shutdown that has lasted since October 1. Earlier this week, the Senate approved a bill to resume government funding through the end of January. Investors are cautious that once the shutdown ends, the release of updated macroeconomic data — much of which may prove negative — could increase market volatility. Meanwhile, they are evaluating labor market data from Automatic Data Processing (ADP), which showed private-sector employment falling from +14.25K to –11.25K due to large-scale layoffs initiated by the Republican administration of President Donald Trump.
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By Sagar Dua
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The XAG/USD pair shows mixed dynamics during the Asian session, consolidating around $51.0 per troy ounce after posting strong gains earlier in the week. The rise was primarily driven by a weaker U.S. dollar following reports of an agreement to end the record-long government shutdown.
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By Sagar Dua
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EUR/USD. The euro shows a restrained rise in the EUR/USD pair, extending the upward momentum from the previous day that led to an update of the local highs from October 30. Traders are assessing October’s inflation data from Germany: the annual consumer price index settled at 2.3%, and the monthly reading at 0.3%, which aligns with the previously stated position of the European Central Bank (ECB), allowing it to maintain its monetary policy unchanged.
11
November
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By Sagar Dua
- 371
Brent crude oil prices are correcting within a short-term downtrend slightly below 64.00, as trading volumes have declined following reports of a potential U.S. government reopening.
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By Sagar Dua
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The U.S. benchmark index S&P 500 is consolidating near 6823.0 amid corporate earnings reports and news suggesting the possible reopening of the federal government after a prolonged shutdown.
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By Sagar Dua
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The GBP/USD pair recovered to 1.3170 after last week’s drop to 1.3020, supported by UK macroeconomic data and the Bank of England’s monetary policy decision.
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