Fed less hawkish than expected ; rising geopolitical tension
EUR/USD⬆️
GBP/USD⬆️
AUD/USD⬆️
USD/CAD⬆️
USD/CHF⬇️
XAU⬇️
WTI⬇️
The US dollar on Wednesday slipped lower despite positive US statistics and continued worry over Russian-Ukrainian border tensions. Additionally, the US Federal Reserve released the minutes from its most recent FOMC meeting, which indicated that policymakers are willing to raise rates but made no mention of a 50 basis point increase in March.
US Retail Sales increased by 3.8 percent in January, far more than predicted, while Industrial Production increased by 1.4 percent, compared to the 0.4 percent forecast.
Regarding geopolitical concerns, the Estonian Foreign Intelligence Service chief recently reported that Russia was relocating approximately ten fighting groups to the area near Ukraine, where further formations are already awaiting deployment.
European indices ended the day in the red, albeit with minor losses. Wall Street spent most of the day in the red but has since recovered and is currently trading near its opening levels following the FOMC Minutes.
Government bond yields stayed near the top of their weekly range, with the US 10-year Treasury note yield hanging near 2.05 percent.
EUR/USD is trading near 1.1390, while GBP/USD is flirting with 1.3600, despite the dollar's broad weakening. The AUD/USD pair is also up, trading near 0.7200, while the USD/CAD pair is lower, hanging about 1.2670. Oil prices are weighing on the CAD, as the black gold has fallen dramatically from its daily high and is currently trading at roughly $92.50 a barrel.
Iran's senior nuclear negotiator, Ali Bagheri Kani, stated that after weeks of intensive talks, the JCPOA's members, including the US and Iran, are closer than ever to reaching an agreement. Nevertheless, he continued, "nothing is agreed upon until everything is agreed upon."
Safe-haven currencies advanced against the dollar, with the USD/CHF rate falling to 0.9210.
Gold has pushed up and is currently trading about $1870 per troy ounce.
#Mitrade #DollarIndex #YieldCurve #Inflation #Gold #USDJPY #EURUSD #GBPUSD
Read more on Mitrade
GBP/USD⬆️
AUD/USD⬆️
USD/CAD⬆️
USD/CHF⬇️
XAU⬇️
WTI⬇️
The US dollar on Wednesday slipped lower despite positive US statistics and continued worry over Russian-Ukrainian border tensions. Additionally, the US Federal Reserve released the minutes from its most recent FOMC meeting, which indicated that policymakers are willing to raise rates but made no mention of a 50 basis point increase in March.
US Retail Sales increased by 3.8 percent in January, far more than predicted, while Industrial Production increased by 1.4 percent, compared to the 0.4 percent forecast.
Regarding geopolitical concerns, the Estonian Foreign Intelligence Service chief recently reported that Russia was relocating approximately ten fighting groups to the area near Ukraine, where further formations are already awaiting deployment.
European indices ended the day in the red, albeit with minor losses. Wall Street spent most of the day in the red but has since recovered and is currently trading near its opening levels following the FOMC Minutes.
Government bond yields stayed near the top of their weekly range, with the US 10-year Treasury note yield hanging near 2.05 percent.
EUR/USD is trading near 1.1390, while GBP/USD is flirting with 1.3600, despite the dollar's broad weakening. The AUD/USD pair is also up, trading near 0.7200, while the USD/CAD pair is lower, hanging about 1.2670. Oil prices are weighing on the CAD, as the black gold has fallen dramatically from its daily high and is currently trading at roughly $92.50 a barrel.
Iran's senior nuclear negotiator, Ali Bagheri Kani, stated that after weeks of intensive talks, the JCPOA's members, including the US and Iran, are closer than ever to reaching an agreement. Nevertheless, he continued, "nothing is agreed upon until everything is agreed upon."
Safe-haven currencies advanced against the dollar, with the USD/CHF rate falling to 0.9210.
Gold has pushed up and is currently trading about $1870 per troy ounce.
#Mitrade #DollarIndex #YieldCurve #Inflation #Gold #USDJPY #EURUSD #GBPUSD
Read more on Mitrade