The dollar experienced a significant decline against major currencies on Wednesday, following early results from the US midterm elections that indicated substantial gains for Democrats in their efforts to reclaim control of Congress from President Donald Trump’s Republicans. The immediate market reaction from investors was to divest from equities, exit the US dollar, and seek Read More
The dollar was on the defensive on Tuesday in markets cautious about US-Iran tension ahead of midterm elections, while the Aussie dipped after the Reserve Bank of Australia hiked rates as expected. Oil prices experienced a modest increase during early Asian trading, with Brent crude futures rising by 0.5% to $105.25, partially recovering from Monday’s Read More
The dollar and other major currencies remained stable on Monday as investors focused on this week’s US midterm elections, which have the potential to alter the balance of power in Congress and influence control over federal finances. In the realm of cryptocurrencies, bitcoin and ether are experiencing declines in value subsequent to the unprecedented $6.3 Read More
DXY declines as easing tensions in the Middle East diminish the demand for safe-haven assets and lower the probabilities of a rate hike by the Federal Reserve in December. US-Iran peace talks stabilise crude oil prices, contributing to a reduction in immediate inflation worries. Strong US GDP figures and a constrained labour market mitigate losses Read More
The US dollar stabilised on Thursday following the Federal Reserve’s decision to maintain interest rates as anticipated, while suggesting that forthcoming inflation data would impact future policy decisions, resulting in investor uncertainty regarding the outlook for rates. The Fed decided to postpone any adjustments to borrowing costs until following next week’s midterm election, resulting in Read More
The US dollar maintained its strength on Wednesday, reaching a two-week peak in anticipation of policy decisions from various central banks, including the Federal Reserve. In contrast, the kiwi dollar experienced a significant decline following the unexpected decision of the country’s central bank to keep interest rates unchanged. Most of the dollar’s counterparts exhibited little Read More
The United States Dollar Index could potentially ascend toward the 18-month peak of 102.94. The 14-day Relative Strength Index around 60 suggests a favourable momentum while remaining below overbought thresholds. The immediate support is positioned at the nine-day EMA of 101.93. The US Dollar Index, which measures the value of the US Dollar against six Read More
Major currencies exhibited limited fluctuations on Monday, marking the onset of a week characterised by significant central bank deliberations and corporate earnings reports. Concurrently, a decline in oil prices and Treasury yields exerted downward pressure on the dollar. Oil prices have softened, with Brent crude futures declining over 1% to approximately $115 a barrel after Read More
The US Dollar Index encounters challenges following underwhelming megacap earnings, which have raised apprehensions regarding the durability of AI trade. The escalating conflict in the Middle East, coupled with the potential for post-midterm US-Israeli strikes on Iran, has led to an increase in the appeal of alternative safe-haven currencies. Fed Chair Kevin Warsh indicated a Read More
A downdraft in the dollar paused on Thursday as investors prepared for a series of central bank meetings next week, where hawkish holds on interest rates are anticipated in Japan, the US, and Europe. The currency market is positioned favourably toward the dollar, predicated on the expectation that the AI boom will sustain robust economic Read More
