The US Dollar Index (DXY) fell to its lowest point since April 26 in the London session on Tuesday, as the euro bolstered gains and Wall Street grabbed attention away from safe-haven assets. The DXY fell to the 101.74 low but currently trades at 101.96 at press time. The euro emerged as the top gainer […]
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The US dollar lost some points against other top currencies on Friday, following a volatile week for the asset, as investors focused on the Federal Reserve’s outlook and efforts to curb rising inflation. The dollar index (DXY) tapped a multi-decade high of 104.07 overnight amid increased safe-haven demand after a sharp sell-off witnessed in the […]
The US dollar closed last week as the strongest performer in the forex market after the US dollar index (DXY) hit its highest point in two decades. The volcanic rally in the single currency came due to increased cautious anticipation of an interest rate hike by the US Federal Reserve in its policy meeting on […]
The US Dollar recorded a notable comeback last week after speculation of a more aggressive Fed tightening policy by market participants intensified on the heels of hawkish statements from Fed policymakers. Reports show that the currencies market is pricing in a 70% chance of the Fed interest rate jumping to 1.50 – 1.75% by the […]
The US dollar has retraced mildly over the past 24 hours against most counterparts, as US yield gains slowed following the release of lower-than-expected inflation data earlier this week. The Greenback retreated from a two-year peak of 100.5 on Wednesday, with the bearish sentiment still in place on Thursday. At the time of writing, the […]
After trading in a prolonged choppy pattern, the US dollar (USD) enjoyed some upward mobility last week following a revelation of quantitative monetary tightening plans by the US Fed in its FOMC meeting minutes. Benchmark US Treasury yields also recorded positive traction from the FOMC declaration as they tapped their highest level since 2019. The […]
The Canadian dollar (CAD) currently enjoys a near-term bullish outlook as the Bank of Canada (BoC) reportedly prepares for an aggressive rate hike. However, a Reuters poll suggests that the CAD could see a cap on its gains due to its dependence on the housing market. According to the poll, the median forecast is that […]
AUD/USD seems to be strengthening on shorter time frame charts very close to 0.7460 the influence is due to the bears as at when the value was under 0.7500 price level. During this, Chinese data was unable to improve significantly enough which is why traders are anticipating the Nonfarm Payroll for the New York session. […]
