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
14
October
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By Sagar Dua - 539
The GBP/USD pair is correcting near 1.3348, supported by positive macroeconomic data.
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By Sagar Dua
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The Australian dollar is weakening against the U.S. dollar in the Asian session, retreating after Monday’s brief correction and testing the 0.6480 level. Some support for the pair comes from the minutes of the Reserve Bank of Australia’s (RBA) September meeting, where policymakers kept the cash rate unchanged at 3.60% — the lowest level since April 2023. The document confirmed that inflation remains within the 2.0–3.0% target range, though a moderate rise in consumer prices is possible in Q4 amid deteriorating global conditions due to geopolitical instability and aggressive tariff policy from the Republican U.S. administration. Last week, President Donald Trump announced new 100% import tariffs on Chinese goods in response to Beijing’s restrictions on access to rare earth metals.
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By Sagar Dua
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The euro is gaining in the EUR/USD pair, recovering after yesterday’s bearish impulse. The instrument is testing the 1.1567 level for a possible breakout to the upside as traders assess Germany’s latest inflation data.
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By Sagar Dua
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United States. The U.S. dollar is strengthening against the euro and yen but shows mixed dynamics in the pair with the pound.
13
October
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By Sagar Dua
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The USD/CHF pair is trading in a corrective uptrend near 0.8011, preparing for a potential bullish continuation supported by the Swiss National Bank’s recent monetary policy actions.
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By Sagar Dua
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During the morning session, the USD/CAD pair is consolidating around 1.3990. Market activity remains subdued as both U.S. and Canadian exchanges are closed for national holidays, while investors continue to focus on macroeconomic data.
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By Sagar Dua
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The USD/JPY pair is correcting within an uptrend around 151.85 after the parliamentary victory of Sanae Takaichi, a supporter of the “dovish” policy stance. Her win could bring significant changes to the Bank of Japan’s approach as it prepares for possible monetary tightening. However, analysts believe that an interest rate hike this year is now unlikely, and the yen may instead be supported through foreign exchange interventions. In the current environment, investors are redirecting capital into equities, which could put short-term pressure on the Japanese currency. Economists also expect a gradual recovery in Japan’s weak industrial sector, supported by additional funding to boost production levels.
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By Sagar Dua
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The leading index of the Frankfurt Stock Exchange, DAX 40, is trading near 24,391.0. The German stock market is holding on to the positions reached last month, staying close to local lows despite corrections in the bond market. The main driver of the recent upward movement was the latest foreign trade data: in August, Germany’s exports totaled €129.7 billion (0.5% lower than in July and 0.7% below last year’s level), while imports reached €112.5 billion, showing a –1.3% decline month-on-month but a 3.5% increase year-on-year. As a result, the trade surplus widened to €17.2 billion from €16.3 billion in the previous month.
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By Sagar Dua
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EUR/USD. The euro is gaining against the U.S. dollar, extending the corrective momentum formed last Friday as the pair tests the 1.1620 level for a possible breakout upward. Traders are waiting for new drivers to shape short-term direction.
10
October
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By Sagar Dua
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United States of America. The U.S. dollar is strengthening against the British pound but weakening versus the euro and the Japanese yen.
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By Sagar Dua
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The Australian dollar is gaining against the U.S. dollar during the Asian session, recovering after a sharp decline the day before. The pair is testing the 0.6565 level to the upside as the greenback’s short-term rally weakens amid the ongoing U.S. government shutdown.
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By Sagar Dua
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The British pound is gaining against the U.S. dollar, correcting after a sharp decline over the past three trading sessions. The pair is testing the 1.3300 mark to the upside as traders lock in profits from short positions
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