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.
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
EUR/USD. The euro is gaining against the dollar in the Asian session, rebounding after two days of declines. EUR/USD is testing the 1.1680 level to the upside as traders lock in short-term profits ahead of the weekend.
Boeing Co. (BA) shares, one of the world’s leading aerospace and defense manufacturers, are trading near 214.00.
WTI Crude Oil prices are trading above the key $63.00 per barrel mark, reacting to the approval of a new European sanctions package targeting Russian energy exports.
Silver prices continue to trend higher, consolidating near the 44.00 handle.
EUR/USD. The euro is losing ground on Forex against the USD during the Asian session, extending yesterday’s bearish momentum that pushed the pair to fresh weekly lows.
The US dollar is losing ground against the Japanese yen in Asian trading, testing the 148.60 level on a downside breakout and pulling back from the local highs set on September 3. Yesterday’s rally was fueled in part by cautious comments from Federal Reserve Chair Jerome Powell regarding the pace of future rate cuts.
The USD/JPY pair has been stuck in a sideways range of 148.44–146.88 (Murray levels [6/8]–[4/8]) for the second month, reflecting uncertainty over the Bank of Japan’s next policy moves, despite macroeconomic data that would justify a rate hike.
The S&P 500 index is correcting around the 6692.0 level.
In September, WTI Crude Oil is trading above the key support level of 62.00, holding low volatility as investors weigh signals from U.S. and Chinese policymakers while awaiting fresh catalysts for movement.
During the Asian session, the USD/CHF pair consolidates around 0.7920. With no fresh drivers on the market, forex investor activity remains subdued as they continue to assess the Fed’s latest monetary policy decision.
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