Tag: dollar

What are the Six Main Currencies for Forex Trading?

The foreign exchange (forex) market is a vast and highly liquid arena where trillions of dollars are traded daily among countless participants worldwide. To navigate this market effectively, it is crucial to familiarize oneself with the most commonly traded currencies. In this article, we will delve into the characteristics and traits of six major currencies […]

Japanese Authorities Vigilant of Japanese Yen Volatility

The Bank of Japan (BoJ) plans to maintain its ultra-loose monetary policy as Governor Ueda reaffirms the need for accommodative measures until sustainable inflation of 2% is achieved. Expectations are that price pressures will decrease significantly by the middle of next year. This stance aligns with the central bank’s commitment to continue large-scale monetary easing […]

DAX and USD/JPY Show Mixed Outlook Amid Global Economic Concerns

DAX Index Faces Headwinds on China’s Growth Worries and German Inflation Data The DAX index has experienced a downward trend for the past three consecutive days and six out of the last seven sessions. Alongside other European equities, the DAX is being affected by mounting concerns regarding the economic recovery in China and increasing fears […]

Federal Reserve Meeting Minutes Reveal Split Views on Interest Rate Hikes

The recently released meeting minutes of the Federal Reserve showcased a division among officials regarding the necessity of further interest rate increases. While some members advocated for additional hikes, others suggested a gradual reduction, according to Economies.com. In the previous month, the Federal Reserve had raised interest rates by 25 basis points. However, the minutes […]

Gold Price (XAU/USD) Slips Below $1,960 as US Dollar Gains Strength

During the Asian session, the price of gold (XAU/USD) faced downward pressure and fell below the $1,960.00 level. This decline was driven by the US Dollar Index (DXY), which is aiming to reach a 10-week high of 104.00. The strength of the USD Index is primarily due to ongoing uncertainty surrounding US debt-ceiling negotiations between […]

Canadian Dollar Weakening Despite Strong Crude Oil Prices: USD/CAD Price Forecast

Fundamental Background of the Canadian Dollar The Canadian dollar’s performance is closely tied to the ongoing negotiations regarding the US debt ceiling, which has resulted in increased support for the US dollar (USD). Additionally, the recent rally in crude oil prices has somewhat limited the upside potential for USD/CAD bulls before the start of the […]

Dollar Retreats from Five-Week Highs as Investors Secure Profits

Dollar Retreats in European Trade: Breaking Five-Week High Streak In European trade, the dollar experienced a decline, breaking its three-session streak of reaching five-week highs, as investors engaged in active profit-taking. The focus now shifts to crucial remarks from Federal Reserve officials, particularly Fed Chair Jerome Powell, and upcoming US data that will provide insights […]

What’s Happening? US Dollar Pulls Back After Strong Rally

The US dollar, represented by the DXY index, found itself on the back foot this Monday, retreating after a strong performance last week. Despite the upward movement in US Treasury yields across various time frames, the dollar couldn’t maintain its rally. By early afternoon in New York, the DXY index had slipped by 0.23%, landing […]