The dollar extended its recovery from the recent minimums, adding to Wednesday’s rebound in the midst of the fall in yields and intense concerns about the prospects of a global commercial war.
This is what you need to know on Friday, March 14:
The US dollar index (DXY) rose to three -day maximums and recovered the 104.00 barrier, helped by the increase in yields in the US. The feeling of the preliminary Michigan consumer occupies the center of attention to the other side of the Atlantic.
The EUR/USD extended its correction from the maximum recent of several months, going back to a minimum of three days in the 1.0825-1.0820 band. Germany will be in the center of the debate with the publication of the final inflation rate and wholesale prices. In addition, Cipollone of the ECB is expected.
The GBP/USD set aside two consecutive daily advances and backed the low zone of 1,2900 due to the additional recovery of the US dollar. An interesting calendar of the United Kingdom will include GDP figures, industrial production and manufacturing, results of the trade balance of goods, construction production and the monthly NIESR GDP tracker.
The USD/JPY stopped its weekly recovery due to the resurgence of the appreciation of the Japanese Yen, limiting the upward potential of the torque to the 148.40 zone. Next, the data of the trade balance and machinery orders will be published in Japan, all expected for March 19.
The sellers recovered the advantage and forced the Aud/USD to resume their bearish trend, sliding again to the 0.6270 area in the middle of additional profits in the dollar. The next key data publication will be the Labor Market Report on March 20.
WTI prices resumed their downward bias and eroded two consecutive daily advances due to constant concerns about rates and the strongest dollar.
Gold prices added to the weekly rebound and shot at historical maximums beyond the level of $ 2,980 per Troy ounce. Silver prices gained additional impulse and approached the level of 34.00 per ounce, levels that were not seen since the end of October.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
