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
30
September
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By Sagar Dua - 331
The euro is showing mixed performance against the U.S. dollar during the Asian session, consolidating near 1.1720. Investors are focused on German retail sales data, which dropped from 2.9% to 1.8% year-over-year in August and from –0.5% to –0.2% month-over-month, missing expectations of 0.6% growth.
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By Sagar Dua
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The U.S. dollar is weakening against the euro, pound, and yen.
29
September
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By Sagar Dua
- 243
Last week, Brent Crude Oil prices renewed two-month highs near 69.80, but today a correction has started under the pressure of several negative factors.
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By Sagar Dua
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The USD/JPY pair is actively declining, holding around 148.68 after the release of Japan’s macroeconomic data last Friday. In September, Tokyo’s core consumer price index excluding fresh food came in at 2.5% YoY, below the median market forecast of 2.8%, while the indicator excluding both fresh food and fuel eased from 3.0% to 2.5%. The core reading without fresh food slowed from 7.4% to 6.9%, which may influence the Bank of Japan’s monetary policy decision at its October 29–30 meeting.
26
September
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By Sagar Dua
- 371
The British pound is showing modest gains against the U.S. dollar in Friday’s morning session, recovering after yesterday’s sharp decline that pushed the pair to fresh lows from September 3. GBP/USD is testing 1.3355 to the upside as investors await the U.S. Personal Consumption Expenditures (PCE) inflation report at 14:30 (GMT+2), a key gauge for the Federal Reserve in assessing inflationary pressures.
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By Sagar Dua
- 404
The EUR/USD pair is sliding toward 1.1670 as the U.S. dollar strengthens following the Federal Reserve’s first rate cut in eight months—by 25 basis points to 4.25%.
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By Sagar Dua
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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.
25
September
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By Sagar Dua
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Boeing Co. (BA) shares, one of the world’s leading aerospace and defense manufacturers, are trading near 214.00.
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By Sagar Dua
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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.
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By Sagar Dua
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Silver prices continue to trend higher, consolidating near the 44.00 handle.
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By Sagar Dua
- 300
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.
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By Sagar Dua
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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.
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