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
17
October
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By Sagar Dua - 546
Shares of graphics processor manufacturer Nvidia Corp. are trading in a corrective trend around the 182.00 level.
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By Sagar Dua
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EUR/USD. The European currency is gaining value in the EUR/USD pair, attempting to consolidate above 1.1715. The instrument received a bullish impulse in the forex market after the positive outcome of two parliamentary votes in France.
16
October
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By Sagar Dua
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United States. The U.S. dollar is losing value against the euro and the pound but shows mixed dynamics versus the yen.
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By Sagar Dua
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The USD/JPY pair is consolidating near 151.15 in a sideways trend as the yen returns to neutral momentum after last week’s decline. The correction follows the victory of Japan’s Liberal Democratic Party in parliamentary elections, which nominated Sanae Takaichi as prime minister. Known for her dovish stance and continuity with former leader Shinzo Abe, her appointment signals that any monetary tightening by the Bank of Japan could once again be postponed.
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By Sagar Dua
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EUR/USD. The euro resumed its upward movement this week and is currently trading near 1.1660, supported by expectations of further monetary easing voiced by several Federal Reserve officials over the past few days.
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By Sagar Dua
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GBP/USD. The pound is strengthening against the U.S. dollar, holding near the local highs reached on October 7, as investors focus on UK macroeconomic data. The country’s GDP rose by 0.1% in August, as expected, after a decline of –0.1% in the previous month. Industrial production increased by 0.4% m/m after a 0.4% fall earlier, while the annual figure corrected to –0.7% from –0.1%. The services activity index remained stable at 0.4%.
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By Sagar Dua
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EUR/USD. The euro is gaining against the U.S. dollar in EUR/USD, continuing the bullish leg that formed on Tuesday. The pair is testing 1.1655 for an upside breakout as investors digest macroeconomic data.
15
October
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By Sagar Dua
- 448
Walmart Inc. shares, operated through its extensive wholesale and retail network, are trading near 107.00.
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By Sagar Dua
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The U.S. dollar is actively declining against the Japanese yen, testing the 152.00 mark for a downside breakout and updating local lows from October 7. The instrument remains under pressure from political uncertainty as the government shutdown enters its third week. It was reported today that the Senate has rejected the Republican Party’s temporary government funding bill for the eighth time: 49 senators voted against, 45 in favor, while 60 votes were required for approval.
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By Sagar Dua
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EUR/USD. The euro is gaining against the U.S. dollar in EUR/USD, extending a corrective move and attempting to hold above 1.1600, while the fundamental backdrop in the market is changing only marginally.
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By Sagar Dua
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United States. The US dollar is gaining against the euro and pound but weakening versus the yen.
14
October
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By Sagar Dua
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During the morning session, the USD/CHF pair is holding near 0.8030. Market activity remains subdued as U.S. trading floors were closed on Monday due to national holidays, and key macroeconomic reports remain suspended amid a two-week-long government shutdown.
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