Today's forex market: Dollar and Fed dominate
EUR/USD🔼
GBP/USD🔼
AUD/USD🔼
USD/CAD🔽
XAU🔼
WTI🔼
The market was dominated by the dollar and the Fed following the US central bank's near-confirmation of a March rate hike, fuelling anticipation of at least four raises this year. The greenback received additional support from positive growth numbers, with Q4 GDP coming in at 6.9 percent, significantly higher than the projected 5.5 percent. Meanwhile, as expected, unemployment claims for the week ended January 14 came in at 260K.
The US currency extended its post-Fed rise to a multi-month high against the common currency, as the EUR/USD fell to 1.1130. GBP/USD plummeted to 1.3354, a one-month low, before stabilizing near that level.
Commodity-linked currencies also declined, with the AUD/USD trading near 0.7030 and the USD/CAD near 1.2730. Gold prices have plummeted, going below $1,800 per troy ounce. Crude oil prices surged to new multi-year highs but slowed in the run-up to the daily close, with WTI settling at $86.80 a barrel.
Wall Street began the day on a solid note, with significant intraday gains. However, it reversed direction in the final hours of trade, with indexes slipping into the red. US Treasury yields have fallen from Wednesday's high, with the 10-year note yielding 1.78 percent. Despite the changing direction of equity markets and rates, the greenback maintained gains.
#Mitrade #DollarIndex #YieldCurve #Inflation #Gold #USDJPY #EURUSD #GBPUSD
Find More On Mitrade
EUR/USD🔼
GBP/USD🔼
AUD/USD🔼
USD/CAD🔽
XAU🔼
WTI🔼
The market was dominated by the dollar and the Fed following the US central bank's near-confirmation of a March rate hike, fuelling anticipation of at least four raises this year. The greenback received additional support from positive growth numbers, with Q4 GDP coming in at 6.9 percent, significantly higher than the projected 5.5 percent. Meanwhile, as expected, unemployment claims for the week ended January 14 came in at 260K.
The US currency extended its post-Fed rise to a multi-month high against the common currency, as the EUR/USD fell to 1.1130. GBP/USD plummeted to 1.3354, a one-month low, before stabilizing near that level.
Commodity-linked currencies also declined, with the AUD/USD trading near 0.7030 and the USD/CAD near 1.2730. Gold prices have plummeted, going below $1,800 per troy ounce. Crude oil prices surged to new multi-year highs but slowed in the run-up to the daily close, with WTI settling at $86.80 a barrel.
Wall Street began the day on a solid note, with significant intraday gains. However, it reversed direction in the final hours of trade, with indexes slipping into the red. US Treasury yields have fallen from Wednesday's high, with the 10-year note yielding 1.78 percent. Despite the changing direction of equity markets and rates, the greenback maintained gains.
#Mitrade #DollarIndex #YieldCurve #Inflation #Gold #USDJPY #EURUSD #GBPUSD
Find More On Mitrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.