Today's Market Review

AXEL | 2024-03-13 11:57

Abstract：Market Review for March 13, 2023

US Dollar Momentum Persists, Impacting Global MarketsThe US Dollar has continued to showcase strength early this week, propelled by robust US inflation data revealed on Tuesday. This development has prompted investors to reconsider the likelihood of a rate cut by the Federal Reserve in June.Here's an insight into the significant currency movements on Wednesday, March 13:AUD/USD: The Australian Dollar experienced a decline, breaking below the pivotal support level of 0.6610 but remains above the 200 day moving average, hinting a possible bullish move anytime soon. This decline was attributed to a resurgent US Dollar and softer iron ore prices.NZD/USD: The New Zealand Dollar traded below the 0.6149 threshold, facing downward pressure from a stronger US Dollar and rising US Treasury yields. With no major economic releases in New Zealand today, broader market sentiment remains influential.EUR/USD: The Euro saw a slight retreat, hovering between the 1.0875 - 1.0993 zone despite German inflation figures meeting expectations. Investors are keenly awaiting industrial production data for the Eurozone later today.GBP/USD: Pound Sterling encountered selling pressure, sliding towards the 1.2745 mark due to Dollar strength. Today's UK economic calendar features crucial releases including GDP figures, construction data, and trade balance figures.USD/CAD: The US Dollar gained ground, challenging resistance at 1.3522 amidst choppy trading conditions. Limited economic data from Canada contributed to a relatively subdued session for the Canadian Dollar, despite US CPI inflation showing slight easing.USD/JPY: The Yen rebounded, briefly crossing the 148.00 mark, signaling reduced expectations regarding the Bank of Japan's policy changes next week.USD/CHF: Positive CPI figures for the US Dollar initially boosted USD/CHF, but the pair corrected later, closing near Tuesday's opening levels.Gold and Silver: Gold prices pulled back to around $2,150 per ounce, halting a nine-day winning streak due to Dollar strength and rising US yields. Similarly, silver prices retreated after nearing three-month highs near $24.70 per ounce.In summary, market dynamics are influenced by a blend of factors including Dollar strength driven by inflation data, geopolitical tensions, and upcoming economic releases, impacting investor sentiment across major currencies and commodities.

market insights market analysis

Related broker

Regulated

AXEL

Company name：AXEL Private Market Limited

Score

8.36

Website：https://axelprivatemarket.com

5-10 years | Regulated in Australia | Market Maker (MM) | MT4 Full License

Score

8.36

5 Useful Features You Didn’t Know XM Offers

If you're trading online or thinking about starting, you've probably heard of XM- one of the most popular and trusted forex and CFD brokers. But whether you're new or already a client, there's a good chance you might not know about some of the powerful tools and features XM offers. In this article, we’ll highlight five lesser-known XM features that could make your trading experience even better.

Original 2025-08-14 14:54

10 Best MUST- READ Books on Forex Trading

Traders neglect the basic education about the forex market and end up losing money. It is one of the common mistakes they do. It is unsaid rule that If you're enter in the jungle of forex, you must read, learn, and understand before you start trading. In this article, you'll get to know about the books on forex trading that you must read.

Original 2025-07-30 19:52