26.03.2024
The U.S. Dollar index (DXY) saw a decline of
0.3% this week, settling at 104.12 points. Conversely, the EURUSD pair
experienced a 0.4% rise, reaching 1.08500. The notable volatility originated
from China, where the Chinese offshore Yuan (CNH) unexpectedly plummeted last
Friday. As a result, the USDCNH surged by 0.8% to 7.2800, marking its highest
level since November 2023.
This sudden movement caught investors off
guard, especially considering the USDCNH had been trading within a narrow range
of 7.1800-7.2200, closely monitored by China's central bank.
21.03.2024
Gold prices surged by 2.4% to reach $2205 per
troy ounce, reaching a new all-time high of $2222. This upward momentum
followed a consolidation period around $2150 for ten days. Investors closely
monitored the Federal Reserve's monetary policy decisions, interest rate
projections, and economic forecasts.
With higher inflation in the United States and
a mild cooling of the labor market in January and February, expectations
aligned with the December interest rate outlook, which projected three interest
rate cuts in 2024.
19.03.2024
The U.S. Dollar index (DXY) has gained 0.5% to
103.93 points this week, signaling continued strength amid expectations of
extended monetary tightening by the Federal Reserve (Fed), which is set to meet
this Wednesday.
The EURUSD pair declined by 0.4% to 1.08450 as
the Greenback strengthened. This movement comes in response to the recent
inflation data for February in the United States, which showed an unexpected
increase to 3.2% YoY, up from 3.1% YoY in January. Additionally, the producer
price index surged to 1.
12.03.2024
The Greenback is trading neutrally this week,
with the U.S. Dollar index (DXY) adding 0.1% to reach 102.83 points. The EURUSD
has risen at the same pace to 1.09320, indicating good market synchronization.
Last Friday, the Dollar experienced a 1.3% loss as the EURUSD peaked at
1.09810, the highest level since January 12. Despite a subsequent retreat, no
reversal formations have been detected, suggesting a potential further decline
of the Dollar.
The primary reason for the Dollar's weakening
is the cooling labor market in the United States.
07.03.2024
Gold prices are rising by 3.4% to $2154 per
troy ounce. Gains were even bigger on Thursday morning, but the bullion has
retreated a little. There is no particular reason for gold to rally by 5.5%
since last Friday. The last time a similar upside movement was recorded was in
October 2023 when Hamas attacked Israel. Prices surged by 6.0% within 6 days
then.
Although there are some reasons why gold
prices are rising. Foremost, China is increasing gold imports from Switzerland.
The country has bought 3 times more gold in January, reaching 110 tonnes. This
is the highest in the last 3.
05.03.2024
The U.S. Dollar is
exhibiting a neutral trend this week, with the U.S. Dollar index showing a
slight 0.1% increase to 103.93 points. The EURUSD pair
remains mostly unchanged, hovering slightly above the resistance at
1.08200-1.08400. In the previous week, the pair retraced to 1.08000 after
approaching 1.09400.
Macroeconomic data in the United States is
favoring the weakening of the Dollar. The U.S. Q4 2023 GDP estimate was revised
down to 3.2% QoQ from the previous 3.3%, while the Atlanta Federal Reserve (Fed)
lowered its Q1 2024 GDP estimate to 2.
27.02.2024
The U.S. Dollar is experiencing a decline,
with its index (DXY) dropping by 0.3% to 103.68 points this week. Against the
Euro, the EURUSD has edged lower by 0.3%, currently trading at 1.08620. The
performance of the Greenback appears mixed when compared to other major reserve
currencies.
The EURUSD is trading above the resistance
level at 1.07900-1.08300, indicating a potential further upside. While the pair
reached 1.08880 last week, it retreated after the release of mixed PMI data in
both the Eurozone and the U.S. Nevertheless, the pair remains above 1.08000, a
sign of strength.
22.02.2024
Gold prices have experienced a 1.0% increase,
reaching $2032 per troy ounce this week. This contributes to a solid 2.0% rise
since February 15. Despite the vulnerable position of gold, it has shown
resilience and growth during this period.
U.S. 10-year Treasuries yields are currently
at three-month highs, ranging from 4.31% to 4.33%. Bets on interest rate cuts
by the Federal Reserve (Fed) in March and May have declined to 6.5% and 27.5%,
respectively.
20.02.2024
The currency market has stabilized following
the release of January inflation data in the United States. The U.S. Dollar
index (DXY) is hovering around 104.30 points, while the EURUSD remains
unchanged at 1.07700.
Last week's inflation data in the U.S.
exceeded expectations, indicating a monthly acceleration in prices. This
suggests renewed inflationary pressures that may lead the Federal Reserve (Fed)
to maintain its interest rates unchanged in March and May. Bets on interest
rate cuts declined to 8.5% and 32.9%, according to the CME FedWatch Tool.
13.02.2024
The U.S. Dollar has been trading mostly
neutral this week, with its index adding a marginal 0.1% to reach 104.17
points. The EURUSD fell by 0.16% to 1.07650. The currency market appears to be
in a state of hibernation, and this trend may continue throughout February.
Investors anticipate little direction in the
market until March, although some volatility could be introduced by consumer
sector data this week. The WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU)
reported capital inflows of $9.0 million last week, However, the overall
balance for the year remains negative at -$15.