|Day's range||98.05 - 98.15|
|52-week range||96.33 - 98.67|
The US Dollar Index touched the pinnacle near 97.85 levels on Euro plunge. EIA reported higher crude inventory data, dragging down the oil prices. The BoC decided to keep the interest rates unchanged. The Aussie pair stood on the back foot amid poor CPI figures.
The Dollar Index (DXY) found comfort near a yearly high above 97.70 today, after a raft of strong US earnings in the previous session boosted confidence over the health of the US economy.
Gold and silver are trading on the defensive as the dollar is advancing with strength. Copper is defending ground but it looks complicated for precious metals.
The Dollar bulls will be looking for a first visit to 100 levels since 2017. While Trump may attempt to kill the rally, the stars are aligning…
The Kiwi Dollar and Aussie Dollar take another hit early. The Bank of Canada and corporate earnings could give the Greenback more upside on the day.
Along with the greenback upliftment, the primary rival (EUR/USD) which always benefits from a dollar plunge, dropped significantly. Crude WTI Futures traded at a new high near $66.60 per barrel elevating the commodity-linked CAD. USD/JPY lost 30 pips in a matter of a few minutes.
Who’s winning the U.S – China trade war? Is it really the U.S? How has the Pound and the UK economy performed and what about the Eurozone?
Dollar Index is close to the upper limit of its 6-months trading range. GBPUSD remains trapped between MA200 and 1.30. Oil has jumped at the start of the week by 3%: WTI – $66, Brent – $73.70.
WTI Oil and Brent crude both soared to fresh 2019 highs on Monday following reports that the United States will soon end waivers granted to countries importing Oil from Iran.
The Market remained silent in the middle of insufficient economic data on Easter Monday. The Cable was down, still sustained near 1.1300 levels. Oil price upsurged on the news suggesting Iranian sanction waiver rejection, making the loonie pair tumble further.
Gold bounces on Monday amid technical buying while platinum is ready to test highs again. Silver remains in range.
During the weekend, lots of rumors and negative talks took hold of the Brexit drama. The EU Elections are nearing, and the UK opposition party leaders look for a Second Referrundum as an election strategy. GBP/USD, at the moment, stays fragile.
The Euro pair may find some upward space on the back of downbeat expected US data and crude upsurge. Investors look forward to April 23 as the UK parliament will reopen after the Easter Recess.
USD/JPY sustained near the 112 levels, staying apathetic over BoJ’s bond purchase cuts. The EUR/USD showed less reaction to the greenback weakness today. USD/RUB marks day’s high near 64.05 levels.
Global equity markets struggled for direction during Friday’s trading session as activity continued to decelerate ahead of the Easter Bank holiday weekend.
The Dollar index has risen to a 5-month highs after disappointing EU PMI reports. GBPUSD just fell below 1.30 and now is trying to stay above its MA(200). EURUSD is eyeing key support at 1.1200. AUDUSD failed with growth.
From the Technical front, the pair seems to experience a slight upward shift in the near term. However, it may bounce back from 1.3022 support trend line to sustain downtrend.
With the major financial markets closed for the day, volumes will be on the lighter side. U.S housing data will be the only numbers for the Dollar to respond to.
The AUD/USD enjoyed a 0.39 percent boost in the Asian session following strong employment data. The Cable underwent extended slump even in the absence of Brexit headlines.
Gold is trading positive but limited. Platinum is providing an interesting technical move while copper is down after reaching 10-month highs
The monthly report, which attempts to catch a glimpse of the economy based on conversations with business contacts across all of the Fed’s 12 districts, revealed that economic activity grew at a slight-to-moderate pace in March and early April. A few areas even showed some strengthening in economic growth.
The Dollar’s on the back foot following stats out of China this morning. It may not last though if there’s a resolution to the trade war…