The Greenback extended Friday’s bearish tone, hovering near the lower end of its recent range amid persistent concerns over a potential US economic slowdown and rising prudence pre-FOMC.
Here is what you need to know on Tuesday, March 18:
The US Dollar Index (DXY) added to Friday’s pullback and remained in the low-103.00s on Monday. Building Permits and Housing Starts are due seconded by Import/Export Prices, Industrial and Manufacturing Production and the API’s weekly report on US crude oil supplies.
EUR/USD rose modestly and managed to surpass the key 1.0900 barrier once again following the weaker note in the US Dollar. The Economic Sentiment in Germany and the Euroland will be at the centre of the debate, followed by the Balance of Trade results in the bloc.
GBP/USD reversed two daily pullbacks in a row and flirted with the 1.3000 milestone amid renewed USD selling. Next of relevance across the Channel will be the labour market report and the BoE’s interest rate decision, both due on March 20.
USD/JPY built up on Friday’s marked advance and trespassed the 149.00 hurdle once again, although the bullish impetus lost some traction afterwards. The Tertiary Industry Index will be released.
AUD/USD broke above the 0.6300 mark with certain conviction and printed new multi-day highs in response to the generalised upbeat tone in the risk complex. The RBA’s Hunter is due to speak.
Prices of WTI rose markedly, managing to extend Friday’s gains and advance past the $68.00 mark per barrel.
Gold prices kept the constructive tone in place and hovered around the key $3,000 region per troy ounce following the slightly offered Dollar and mixed US yields. Silver prices retreated modestly, retesting the $33.50 region per ounce following Friday’s tops past the $34.00 yardstick.
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The Greenback extended Friday’s bearish tone, hovering near the lower end of its recent range amid persistent concerns over a potential US economic slowdown and rising prudence pre-FOMC.
Here is what you need to know on Tuesday, March 18:
The US Dollar Index (DXY) added to Friday’s pullback and remained in the low-103.00s on Monday. Building Permits and Housing Starts are due seconded by Import/Export Prices, Industrial and Manufacturing Production and the API’s weekly report on US crude oil supplies.
EUR/USD rose modestly and managed to surpass the key 1.0900 barrier once again following the weaker note in the US Dollar. The Economic Sentiment in Germany and the Euroland will be at the centre of the debate, followed by the Balance of Trade results in the bloc.
GBP/USD reversed two daily pullbacks in a row and flirted with the 1.3000 milestone amid renewed USD selling. Next of relevance across the Channel will be the labour market report and the BoE’s interest rate decision, both due on March 20.
USD/JPY built up on Friday’s marked advance and trespassed the 149.00 hurdle once again, although the bullish impetus lost some traction afterwards. The Tertiary Industry Index will be released.
AUD/USD broke above the 0.6300 mark with certain conviction and printed new multi-day highs in response to the generalised upbeat tone in the risk complex. The RBA’s Hunter is due to speak.
Prices of WTI rose markedly, managing to extend Friday’s gains and advance past the $68.00 mark per barrel.
Gold prices kept the constructive tone in place and hovered around the key $3,000 region per troy ounce following the slightly offered Dollar and mixed US yields. Silver prices retreated modestly, retesting the $33.50 region per ounce following Friday’s tops past the $34.00 yardstick.
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.
