On Wednesday, as the U.S. economy showed signs of outperforming the rest of the world, the dollar index extended its 10-month high to end up 0.49% at 106.71.
WCG Markets:2023-09-28
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The dollar index maintained its strength on Tuesday, rising further above 106 to another 10-month high, before closing 0.217% higher at 106.19. The yield on the 10-year Treasury note fluctuated high and closed at 4.544%.
WCG Markets:2023-09-27
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
On Tuesday (September 26), the US dollar index remains strong during the early Asian trading, and is currently sitting near 106.00; spot gold continues to be under pressure, with the price of gold slightly above $1,915 per ounce.
The dollar index surged Monday, topping 106 for the first time since Nov. 30, after comments from Fed officials reinforced expectations that U.S. interest rates will stay high for a long time, before paring gains in late trading to end up 0.341% at 105.96.
The USD/CAD is one of the most demanded currency pairs in international trading. In this article, we will examine the key factors affecting the pair’s exchange rate, analyse the dynamics of price changes in 2023, and explore the short-term and medium-term forecasts provided by experts.
Wall Street finished Monday’s session with solid gains, while the Greenback extended its gains to a new year-to-date (YTD) high; at the same time, US Treasury bond yields climbed.
After witnessing mixed PMIs from major economies and a hawkish Fed halt, not to forget the ECB’s dovish hike, traders appear mostly cautious on early Monday.
WCG Markets:2023-09-26
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
On Friday (September 22), spot gold closed at $1,925.21, which was up $1.57 or 0.08% on a weekly basis, hitting a high of $1,929.10 per ounce and a low of $1,919.10 per ounce.
On Friday, the dollar index continued to brush a half-year high, but fell briefly after the PMI data was released. It quickly recovered all those losses to close up 0.19% at 105.58 and record its 10th weekly gain in a row, another nine-year record. The yield on the 10-year Treasury note retreated from its peak, rising above 4.5% for the first time since 2007 before closing at 4.438%.
The Japanese Yen witnessed a bullish trend as the US Dollar surged above the pivotal level of 147.00. Moreover, USD/JPY successfully extended its rally above the 148.00 mark, marking a new multi-week peak at 148.45.
Target shares closed towards the lower end of the S&P 500 on Friday, with a decline of 4%. Investors showed concern over the potential extended duration of higher interest rates and the lower-than-anticipated initial jobless claims data. The entire consumer sector experienced a downturn as investors are apprehensive about an impending recession, which could adversely affect consumer spending.
Having a thorough grasp of the primary currency pairs is essential for individuals involved in Forex trading and investment. These pairs hold significant importance as they comprise the most influential economies globally and have the most substantial impact on market activities.
According to recent trends, the US dollar index seems set to continue its impressive run, marking the 10th consecutive week of success and upholding its strong prospects. This positive momentum is reinforced by the unwavering hawkish approach adopted by the Federal Reserve, as evidenced by their choice to maintain interest rates unchanged this month.