This is what you need to know to trade today Thursday, October 7: The Republican leader of the US Senate, Mitch McConnell, offered a temporary solution to the debt limit crisis to avoid a default and provided a boost to risk appetite late Wednesday. Reflecting the improving mood, the major stock indices in Asia closed […]
Tag: Index Dollar
Forex Today – Asian Session: Sentiment improves modestly on US debt news.
What you need to know on Thursday, October 7: The major pairs traded alongside market sentiment. Stocks fell in Asia and Europe, weighed down by growth concerns. Concerns about bottlenecks were exacerbated by a 40% rise in gas prices in the UK as the energy crisis worsened. Rising inflationary pressures added to the depressing mood. […]
Forex Today – Asian Session: Caution Grows Ahead of US Employment Figures
What you need to know on Wednesday, October 6: The dollar weakened modestly against most of its rivals, although currency pairs remained within familiar levels. The US data was mixed as Markit’s services PMI came in at 54.9 in September, better than the 54.4 expected. More relevant still, the official US ISM services PMI improved […]
Failure to raise the debt limit could lead to a recession – Janet Yellen
The United States Secretary of the Treasury, Janet Yellen, said Tuesday in an interview with CNBC, that a failure to raise the legal debt limit could damage the dollar’s reserve status and cause a recession, as reported by Reuters. Yellen added that she considers the October 18 as the deadline and said it is up […]
Forex Today – Asian Session: The Dollar Cuts Losses
What you need to know on Tuesday, October 5: The dollar lost some ground on Monday, but no critical levels were affected. Dollar losses were limited as the market mood was sour, with the focus on Evergrande and China’s financial stability. The EUR / SD pair is currently trading around 1.1620, after encountering sellers in […]
Additional Earnings Seen Above 94.74 – UOB
Quek Ser Leang, of Global Economics & Markets Research at UOB Group, comments upside potential in the US dollar. Featured Comments “When the DXY index rose above the April high of 93.44 in mid-August, we highlighted on our chart for the day (August 19, DXY index at 93.45) that” the next rally in the DXY […]
US Dollar Index Remains Under Pressure Near 94.00
DXY descends and revisits the 94.00 zone. US 10-year yields are still trading below 1.50%. ISM Manufacturing, and the University of Michigan Consumer Sentiment Index surprised to the upside. The dollar remains well on the defensive, although it manages to stay above 94.00 until the moment when it is tracked by the US Dollar Index […]
Forex Today – Asian Session: Overbought Dollar Shows Signs of Exhaustion
What you need to know on Friday, October 1: Risk aversion once again dominated financial markets, although the US currency was not the only beneficiary. Gold prices rose steadily, while safe haven currencies received attention during the last trading session of the month. The dollar has reached overbought conditions against most major rivals, with greater […]
Bearish flag, oversold conditions warrant caution
EUR / USD trades with losses near 14-month lows below 1.1600 The USD regains ground as end-of-quarter cash flows come into play. EUR / USD is moving inside a bearish flag on the 4-hour chart amid an oversold RSI. EUR / USD is seeing a new selling episode at the start of the European session […]
Forex Today – Asian Session: The Dollar Continues to Strengthen
What you need to know on Thursday, September 30: The US dollar continued to strengthen on growth concerns and speculation that the US Federal Reserve will soon begin to cut back its massive stimulus programs. The Chairman of the United States Federal Reserve, Jerome Powell, repeated his statement before Congress. As he did yesterday, Powell […]
