The U.S. dollar, measured by the DXY index that tracks the value of the American currency against a basket of peers, closed the week virtually unchanged despite Friday's gains. At the time of writing, the DXY index trades at 101.98, 0.16% above its opening price, having retreated from a daily high of 102.19 following the release of Personal Consumption...
The EUR/USD pair slipped back below the 1.0900 level during American trading hours on Thursday following the release of upbeat U.S. macroeconomic data. While investors continue to assess the economic figures, U.S. yields advanced, and Wall Street indexes fell in the data aftermath, favoring the greenback. At the time of writing, the EUR/USD pair trades at the...
The EUR/USD pair advanced slightly on Wednesday, recovering the 1.0900 level as markets continue to oscillate ahead of crucial economic data and the Federal Reserve’s decision next week. The euro found some support in German IFO data, which indicated a slight improvement in business sentiment in January. At the time of writing, the EUR/USD pair is trading at the...
Gold prices extended gains into a second session on Tuesday as bets for a smaller rate hike by the Federal Reserve next week continue to weigh on the U.S. dollar. At the same time, a slight pullback in U.S. Treasury yields has also helped the yellow metal. At the time of writing, the spot price XAU/USD is trading at $1,936 an ounce, 0.3% above its opening price,...
The EUR/USD pair is trading virtually unchanged on Monday after being rejected from a fresh nine-month high above 1.0900 amid profit-taking flows. At the time of writing, the EUR/USD pair is trading at the 1.0865 area, back at square one, having retreated from its highest intraday level since April at 1.0926. Monetary policy divergences that helped the dollar...
The EUR/USD pair is closing the last trading day of the week with mild gains, on track to post a green weekly candle as the dollar remains under pressure. At the same time, European Central Bank (ECB) President Christine Lagarde's hawkish comments on Friday helped to keep the pair near recent multi-month highs. At the time of writing, the EUR/USD pair is trading...
Gold prices advanced sharply on Thursday as the yellow metal regained its appeal against a backdrop of risk aversion. Despite its safe-haven status and a slight increase in U.S. yields, the dollar fell upon gold’s strength. At the time of writing, the spot price XAU/USD is trading at the $1,930 area, recording a 1.35% daily gain following three consecutive daily...
The EUR/USD traded little changed by the end of the U.S. session on Wednesday after being rejected by a fresh nine-month high amid renewed recession fears. At the time of writing, the EUR/USD pair is trading at the 1.0790 area, just a few pips above its opening price, after hitting its highest price since April 2022 at 1.0887 earlier on the day. On Wednesday,...
The EUR/USD pair fell for a third day in a row on Tuesday, briefly dipping below the 1.0800 level, as the euro weakened amid rumors the European Central Bank (ECB) will slow down the pace of rate tightening. At the time of writing, the EUR/USD pair is trading at the 1.0800 zone, 0.18% below its opening price, as it continues to back away from a nine-month high of...
The EUR/USD pair retreated slightly on Monday and traded within a narrow range while the dollar gained some momentum in a quiet holiday session as U.S. traders celebrate Martin Luther King Jr. Day. At the time of writing, the EUR/USD pair is trading at the 1.0820 area, 0.13% below its opening price, having pulled back from a fresh nine-month high of...
The GBP/USD advanced slightly on Friday but remained within a narrow range as the U.S. dollar managed to stabilize after Thursday’s heavy losses thanks to the negative shift in risk sentiment at the beginning of the day. At the time of writing, the GBP/USD pair is trading at the 1.2230 area, 0.2% above its opening price, having struck a one-month high of 1.2249....
The EUR/USD pair advanced sharply on Thursday and reached its highest level since April 2022 after data showed U.S. consumer inflation slowed down for a sixth consecutive month. At the same time, the euro got a boost from hawkish comments from European Central Bank (ECB) Governing Council members, which signaled more rate hikes in 2023. At the time of writing,...
The EUR/USD pair rose for a fourth straight day on Wednesday but continued to trade within a constrained range as investors take the back seat ahead of the U.S. December Consumer Price Index (CPI) report on Thursday. In the meantime, hawkish comments from ECB Governing Council member Olli Rehn and the renewed U.S. Dollar weakness fueled the pair's rally. At the...
The EUR/USD pair advanced slightly on Tuesday, although it was rejected by the 1.0760 area. As investors await U.S. Consumer Price Index (CPI) figures on Thursday, Jerome Powell refrained from commenting on the Fed's next move at the Riksbank's International Symposium on Central Bank Independence in Sweden. At the time of writing, the EUR/USD is trading at the...
Gold price consolidates near a multi-month high on Tuesday as investors take a breather ahead of Fed Powell's speech. A better market mood and dovish Fed bets have favored the recent gold rally. At the time of writing, the spot price XAU/USD is trading at the $1,875 area, a modest 0.2% above its opening price, after touching its highest level in eight months at...
The EUR/USD pair rallied on Friday, recovering most of the previous day’s losses after U.S. employment and services data cooled down jitters around Fed’s rate increases path. At the time of writing, the EUR/USD pair is trading at the 1.0640 area, 1.15 % above its opening price. The shared currency managed to erase daily losses, which saw the pair bottoming at a...
The U.S. dollar gained momentum on Thursday amid rising U.S. bond yields following the release of upbeat labor market data, which fueled expectations that the Fed will maintain its hawkish rhetoric. At the time of writing, the spot price XAU/USD is trading at $1,833, 1.12% below its opening price, after scoring a daily high of $1,858 earlier in the session. On...
The EUR/USD pair managed to maintain altitude after economic data from the EU and the U.S. and the release of the hawkish FOMC minutes from the last December meeting. At the time of writing, the EUR/USD pair is trading at the 1.0605 area, 0.56% above its opening price, while the dollar, measured by the DXY index, trades at 104.26, posting a 0.41% daily loss. The...