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
8
October
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By Sagar Dua - 312
United States of America. The U.S. dollar is strengthening against the euro, the pound, and the yen
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By Sagar Dua
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During the current week, the GBP/USD pair is correcting lower and is now testing 1.3405 (23.6% Fibonacci retracement).
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By Sagar Dua
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This week, the EUR/USD pair has been actively correcting downward and is currently trading around 1.1620, as the single currency came under pressure due to worsening conditions in the bloc’s two largest economies — Germany and France.
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By Sagar Dua
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WTI Crude Oil. During the morning session, WTI crude oil prices continue a cautious uptrend that began late last week after rebounding from the May 30 lows, attempting to hold above the $62.00 level. Market activity remains subdued due to the ongoing U.S. government shutdown, which has halted the release of official macroeconomic data.
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By Sagar Dua
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EUR/USD. The euro continues to lose ground in the EUR/USD pair during the Asian session, extending the strong bearish momentum from the previous day. The pair is testing the 1.1615 level to the downside as traders assess the escalating political crisis in France.
7
October
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By Sagar Dua
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During the Asian session, the USD/JPY pair is actively gaining value, trading around 150.42 amid political shifts in Japan and a lower likelihood of near-term monetary tightening.
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By Sagar Dua
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Brent Crude Oil prices remain within a long-term downtrend, but this week opened with gains, reaching 65.62 (Murray level [2/8]) supported by the latest OPEC+ decisions.
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By Sagar Dua
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EUR/USD. The euro is weakening against the U.S. dollar during the Asian session, consolidating near 1.1685. Investors are focused on Germany’s August factory orders, which showed a 1.5% increase year-on-year after a –3.3% decline the previous month, while monthly data revealed a 0.8% contraction following –2.9%, missing the 1.4% growth forecast.
6
October
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By Sagar Dua
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United States. The U.S. dollar is strengthening against the euro, pound, and yen.
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By Sagar Dua
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The USD/CHF pair remains stable near the 0.7960 mark during the Asian session, as investor activity slows amid a lack of macroeconomic data from the U.S. due to the ongoing government shutdown. Democrats continue pushing for the extension of healthcare and social welfare programs, while Republicans, aligned with President Donald Trump’s fiscal agenda, are seeking further budget cuts.
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By Sagar Dua
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During the Asian session, EUR/USD is trading near 1.1668 as investors digest comments from European Central Bank (ECB) President Christine Lagarde, who stated that the eurozone economy is “in a good position” to maintain inflation around the 2.0% target.
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By Sagar Dua
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USD/JPY. The U.S. dollar shows steady growth in the USD/JPY pair during Asian trading, testing the 150.40 level for an upward breakout. The instrument opened with a bullish gap and is currently updating local highs from August 1, while investors focus on the outcome of the Liberal Democratic Party leadership elections in Japan.
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