The Pound fell too fast: likely to rebound
Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: The Pound fell too fast: likely to rebound
The Euro (EUR/USD) tumbled 0.8% lower to 1.0887 (1.0975) weighed by a soft Eurozone Inflation report. The Dollar Index (DXY), which measures the value of the Greenback against a basket of 6 major currencies rebounded to 103.55 from 102.80.
ACY Securities | 19h 44min ago
Despite OPEC+ announces production cuts, oil traders remain skeptical, resulting in a nearly 3% overnight plunge in oil prices. The voluntary nature of these cuts, coupled with Angola's rejection, raises questions about their effectiveness.
PU Prime | 1 day ago
The Dollar Index slumped while gold and silver prices soared on hopes that the Fed may start easing policy sooner than expected. Meantime the Kiwi (NZD/USD) found its wings, soaring 0.55% against the Dollar ahead of today’s RBNZ rate decision. New Zealand’s Reserve Bank is expected to keep its Official Cash Rate at 5.5%.
ACY Securities | 2 days ago
The Dollar Index (DXY), a popular gauge of the Greenback’s value against a basket of 6 major currencies, extended its drop to 103.40 (103.75) in thin holiday trade. The Canadian Loonie outperformed. The USD/CAD pair slid 0.7% to 1.3615, just over one-month lows from 1.3640 in the previous session.
ACY Securities | 3 days ago
U.S. long-term treasury yields have retraced to recent lows, adding sparking discussions about the possibility of the Federal Reserve cutting rates next year; this has added downside pressure on the U.S. dollar, with the dollar index reaching its lowest level since August
PU Prime | 4 days ago
The U.S. equity market is set to return to normal trading hours after the Thanksgiving holiday; meanwhile, with the VIX index reaching its lowest level since January 2020. This suggests a heightened risk-on sentiment, potentially supporting bullish trends in the equity market while putting continued pressure on the U.S. dollar.
PU Prime | 5 days ago