The Greenback made a U-turn, building on Wednesday’s post-FOMC recovery and climbing to weekly highs as investors reassessed the Federal Reserve’s lack of urgency in cutting rates.
Here is what you need to know on Friday, March 21:
The US Dollar Index (DXY) regained the smile and returned to the area beyond the 104.00 barrier despite further weakness in US yields across the various maturity periods. The speech by the Fed’s Williams will be the sole release on the US docket at the end of the week.
EUR/USD succumbed to the marked rebound in the Greenback and receded to multi-day lows in the 1.0820-1.0810 band. The BuBa’s Mauderer is expected to speak.
GBP/USD came under renewed selling pressure and retested the 1.2940 region amid the widespread retracement in the risk complex. The GfK’s Consumer Confidence gauge will be released followed by Public Sector Net Borrowing figures.
USD/JPY reversed Wednesday’s drop and advanced marginally to the vicinity of the 149.00 level on Thursday. The Japanese Inflation Rate will be the salient event in the FX world on Friday along with Foreign Bond Investment readings.
AUD/USD lost further impulse and slipped back to weekly lows near 0.6270 following renewed buying interest in the US Dollar. The next data release in Oz will be the Monthly CPI Indicator on March 26.
Prices of the barrel of WTI maintained their choppy performance on Thursday, returning to the sub-$67.00 region on the back of the firm tone in the Greenback.
Prices of Gold rose to an all time high near $3,060 per troy ounce, deflating afterwards following the strong demand for the US Dollar. Silver prices plummeted to the vicinity of the $33.00 mark per ounce, or five-day lows.
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The Greenback made a U-turn, building on Wednesday’s post-FOMC recovery and climbing to weekly highs as investors reassessed the Federal Reserve’s lack of urgency in cutting rates.
Here is what you need to know on Friday, March 21:
The US Dollar Index (DXY) regained the smile and returned to the area beyond the 104.00 barrier despite further weakness in US yields across the various maturity periods. The speech by the Fed’s Williams will be the sole release on the US docket at the end of the week.
EUR/USD succumbed to the marked rebound in the Greenback and receded to multi-day lows in the 1.0820-1.0810 band. The BuBa’s Mauderer is expected to speak.
GBP/USD came under renewed selling pressure and retested the 1.2940 region amid the widespread retracement in the risk complex. The GfK’s Consumer Confidence gauge will be released followed by Public Sector Net Borrowing figures.
USD/JPY reversed Wednesday’s drop and advanced marginally to the vicinity of the 149.00 level on Thursday. The Japanese Inflation Rate will be the salient event in the FX world on Friday along with Foreign Bond Investment readings.
AUD/USD lost further impulse and slipped back to weekly lows near 0.6270 following renewed buying interest in the US Dollar. The next data release in Oz will be the Monthly CPI Indicator on March 26.
Prices of the barrel of WTI maintained their choppy performance on Thursday, returning to the sub-$67.00 region on the back of the firm tone in the Greenback.
Prices of Gold rose to an all time high near $3,060 per troy ounce, deflating afterwards following the strong demand for the US Dollar. Silver prices plummeted to the vicinity of the $33.00 mark per ounce, or five-day lows.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
