The U.S. dollar, measured by the DXY index, came under pressure on Friday after the release of September’s Michigan Consumer Sentiment data, which disappointed investors. At the time of writing, the DXY is trading little changed on the day at the 109.75 area, having erased daily gains that took the index to an intraday high of 110.26 earlier in the session....
The EUR/USD pair continues to gravitate around parity on Thursday. The pair gathered momentum after mixed U.S. data, which showed a modest increase in August Retail Sales but a sharp decrease in the Philadelphia Fed Manufacturing Index. At the time of writing, the EUR/USD pair is trading just a couple of pips below 1.0000, up 0.18% on the day, after hitting a...
The shared currency is up on Wednesday, trading near parity against a weaker greenback, after U.S. PPI data showed a decline in producer inflation in August. At the time of writing, the EUR/USD pair trades at 0.9995, with modest gains of 0.28%, after peaking at a daily high of 1.0023 earlier in the session. The U.S. Bureau of Labor Statistics released August...
Gold prices fell on Tuesday, snapping a three-day winning streak, amid a surge in the U.S. 10-year bond yields on the back of higher-than-expected CPI figures. At the time of writing, gold spot XAU/USD is trading at the $1705 area, posting a % daily decline, having set a daily high of $1731 earlier in the session and a low of $1697 post data. The U.S. Department...
The Cable started the week on a strong note amid a better mood across the markets. The GBP/USD pair gapped higher and stretched to its highest level since August 30 despite weaker-than-anticipated U.K. data. At the time of writing, the GBP/USD pair is trading at the 1.1680 area, posting a 0.8% daily gain, having set a high of 1.1704 earlier on the day. UK GDP...
The U.S. dollar, measured by the DXY index, trades lower for a third straight day as the greenback’s rally faltered during the second half of the week. The index pulled back from a fresh cycle high of 110.78 to below 109.00 on Friday. The DXY index ends the week around 109.00, recording a 0.6% daily loss, having bottomed at an intra-day low of 108.36. On...
The EUR/USD pair fell to lows sub parity before bouncing and erasing intraday losses in a volatile session on Thursday, which featured appearances of both central bankers, ECB’s Christine Lagarde and Fed’s Jerome Powell. At the time of writing, the shared currency trades at the 1.0000 area, virtually unchanged on the day, having oscillated between a low of...
The GBP/USD pair managed to erase early losses and trades virtually unchanged on Wednesday. The GBP/USD pair was weighed by cautious comments from the Bank of England officials, while the U.S. dollar strengthened somewhat, with the DXY index hitting a fresh cycle high of 110.78. At the time of writing, the Cable trades little changed at the 1.1530 area, having...
The EUR/USD pair falls for a second straight day as the U.S. dollar gathered renewed strength on the back of mixed domestic data as traders returned from the three-day weekend. At the same time, disappointing German Factory Orders figures fueled the euro sell-off. At the time of writing, the EUR/USD pair is trading at the 0.9905 zone, 0.23% below its opening...
The EUR/USD pair plunged to a fresh two-decade low during European hours as the U.S. dollar preserved its strength, with the DXY index surpassing the 110.00 mark. In addition to the sour market mood, downward revisions of the EU’s PMIs and energetic crisis concerns triggered the euro sell-off. As the U.S. celebrates Labor Day, local markets remained closed this...
The U.S. dollar, measured by the DXY index, retreated on Friday following the August nonfarm payrolls report. The greenback weakened as a knee-jerk reaction to a mixed employment report. Still, the bigger picture supports the bullish case for the dollar once the dust settles as the labor market keeps showing resilience to Fed’s aggressive tightening policy. At...
The EUR/USD pair lost more than 100 pips on Thursday and hit a low of 0.9910 during the New York session amid risk aversion. The sell-off of the euro was exacerbated by disappointing E PMI data from Germany and the EU, while in contrast, the greenback benefited from optimistic U.S. PMI data. At the time of writing, the EUR/USD pair is trading at around 0.9950, 1%...
The EUR/USD pair is advancing for the third day in a row on Wednesday as the euro remains resilient despite broader U.S. dollar strength. Higher-than-expected August EU inflation figures maintain alive expectations of a bolder move from the European Central Bank at its next meeting, underpinning the shared currency. Still, disappointing U.S. ADP data and...
Gold prices fell for a third consecutive day on Tuesday, with the spot XAU/USD retesting one-month lows at the $1720 area as the U.S. dollar strengthened during the New York session amid risk aversion. At the time of writing, the XAU/USD pair is trading at $1725 an ounce, 0.7% below its opening price, after peaking at a daily high of $1740 earlier in the...
The EUR/USD pair started the week on a positive note, although it is having a hard time consolidating above the parity level. The euro gained some traction thanks to the European Central Bank’s members leaning toward a larger interest hike in their next September meeting. On the other hand, the U.S. dollar, measured by the DXY, is retreating from a fresh cycle...
The U.S. dollar, measured by the DXY, received a boost and jumped back above the 108.40 level following Fed Chairman Jerome Powell’s hawkish speech at the Jackson Hole Economic Symposium. At the time of writing, the DXY trades near daily highs at the 108.80 area, recording a 0.35% gain on Friday after falling to as low as 107.58 earlier in the session. Chair...
The EUR/USD pair ended Thursday virtually unchanged as upbeat U.S. economic data helped the dollar gather strength and reverse most of the European session losses. At the time of writing, the pair trades at the 0.9975 area, 0.15% above its opening price, having pulled back from a daily peak of 1.0033. Germany upwardly revised its GDP figures for Q2 and reported...
Gold prices increased slightly on Wednesday as the dollar weakened across the board during the New York session, even as U.S. yields remained at weekly highs. At the time of writing, the spot gold XAU/USD trades at the $1750 area, recording a 0.23% daily advance. On the data front, U.S. Durable Goods orders came in worse than expected at 0% versus the 0.6%...