|Day's Range||104.61 - 105.33|
|52 Week Range||104.610 - 114.7250|
The US dollar initially tried to rally against the Japanese yen as we were testing a major uptrend line, but as talks of a trade war intensify and tariffs have been brought to bear.
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending March 20 on Friday.
The Japanese yen has rallied 7% against the U.S. dollar, from a high of almost ¥113 to just its lowest level since November 2016, when the buck shot up following the result of the U.S. presidential election. ...
The U.S. dollar remained lower against a basket of other currencies on Friday as fears of a global trade war kept the greenback down and Trump threatened to veto the spending bill. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.30% to 89.20 as of 9:29 AM ET (13:29 GMT). China promptly retaliated with plans to announce tariffs of its own against the U.S., rising concern among investors of a global trade war.
Gold prices rose Friday, with a weekly gain of around 2.2% in store as investors fret about growing trade tensions between the U.S. and China.
The dollar dropped against most major currencies on Friday, sliding to its lowest level against the yen since the U.S. election in 2016 in a flight to so-called haven assets as the trade rhetoric between ...
The pair dropped slightly lower during the Thursday’s session testing 1.23 level for support and its look likely that the market will move higher from here. The pair has a strong support at the 1.2275 level extending up to 1.21 level. The British Pound initially went higher reaching the 1.42 level after the MPC announcement but rolled over significantly to test the 1.41 region for support.
Investing.com – The dollar plunged further against other currencies in Asia on Friday morning as U.S. tariffs imposed on Chinese imports and China’s retaliation measures rocked investors’ confidence and sent the dollar down. A lack of data on Friday left markets exposed to sentiment swings.
The U.S. dollar was higher against a basket of other currencies on Thursday but struggled for momentum as fears of a potential global trade war surfaced. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.20% to 89.46,as of 12:27 PM ET (16:27 GMT), above its overnight low of 89.04. U.S. President Donald Trump is expected to announce $60 billion on Thursday in tariffs on Chinese imports directed at its technology sector and aimed at curbing the theft of U.S. technology.
Investing.com - The dollar edged higher against a currency basket on Thursday, but struggled to make headway as investors continued to grapple with the direction for Federal Reserve policy and fears over the prospect of a global trade war.
Investing.com - The Bank of England left interest rates unchanged as expected on Thursday, but surprised markets with two members of its Monetary Policy Committee voting for a hike, increasing the odds that the BoE could move as early as May.
Subtle and nuanced are not words we hear every day in the financial markets. However, Fed Chairman Jay Powell’s foray into the clamor of official central bank press conferences has provided an avenue for the use of the two words.
Jerome Powell’s first meeting as the Fed chairman ended up with a rate hike. However, the fed aims for three rate hikes in the rest of the year. In addition, concerns continue to grow over a trade war as Donald Trump is expected to impose US tariffs on Thursday.
The Euro has gained on the heels of the interest rate hike via the U.S Federal Reserve. The Euro/ USD forex pair has provided a consistent range since January.
Following its dip below 1.3010–1.3000 horizontal-region, the USDCAD recently broke seven-week long ascending trend-line that in-turn indicates brighter chances for the pair’s further downside to 1.2800 and then to the 1.2765-55 levels; however, oversold RSI is creating a doubt about the quote’s additional south-run, which if ignored by the Bears might not hesitate dragging the pair to the 1.2670 and the 1.2650 supports. Meanwhile, the 1.2900, the 1.2940 and the 1.2960 can offer immediate resistances to the pair during its pullback before highlighting the 1.3000–1.3010 area. ...
The pound traded close to seven-week high against the dollar on Thursday, heading higher after stronger-than-expected U.K. retail sales and as traders waited for the latest Bank of England announcement....
The Federal Reserve surprised no one late on Wednesday when it increased its interest rate by a quarter of a point.
The pair bounced higher during the yesterday’s session trying to reach towards the 1.23 level and above. The next few sessions, the market is expected to remain volatile as the Fed has moved forward with a 25 basis points rate hike and will have 2 more this year. The pair rallied a bit during the yesterday’s session using the 1.40 level as support.
Investing.com – The dollar continued to lose ground in morning trading in Asia Thursday, hours after the U.S. Federal Reserve moved to raise interest rates and China followed suit. The dollar was also pressured by fears of a trade war, with U.S. President Donald Trump all but set to announce a new set of tariffs against China.
The dollar’s initial rally failed to gain traction because ahead of the Fed’s announcement, speculators were probably betting on as many as four rate hikes this year.
The US dollar has fallen against the Japanese yen in preparation for the monetary policy statement, which of course will give us direction of the greenback for the next year. I think that the question now is whether we are going to see 3 interest rate hikes this year, or a total of 4. If we seem a bit more hawkish and reach towards 4 interest rate hikes, then this pair should rally. Of course, the exact opposite is true.
Investing.com – The dollar fell against a basket of major currencies as traders appeared to take profits on recent gains ahead of a widely expected interest rate hike on Wednesday.