Dollar continues to weaken ahead of BOE, ECB
Today’s Forex News: Dollar continues to weaken ahead of BOE, ECB
EUR/USD⬆️
GBP/USD⬇️
USD/CAD⬆️
AUD/USD⬇️
XAU⬆️
WTI⬇️
On Wednesday, the dollar fell further, hitting new weekly lows against high-yielding peers. With the EU yearly Consumer Price Index rising to 5.1 percent in January, it outperformed expectations of 4.4 percent and 5 percent. A day before the European Central Bank announced its monetary policy, and the reading increased pressure on the central bank to tighten policy.
Government bond yields were near the weekly low.
The GBP/USD pair is nearing a daily high of 1.3587 after Wall Street rebounded from an early sell-off to close in the green. ADP poll showed the private sector lost 301K jobs in January, far more than expected, raising concerns about the country's economic recovery.
AUD/USD is around 0.7140, while USD/CAD is 1.2660. Safe-haven currencies have risen against the dollar.
Gold rose slightly intraday to $1,808 an ounce, while crude oil prices held stable around Tuesday's close. WTI closed at $88.10.
After a sluggish start, US indices rallied. The DJIA gained over 200 points.
The ECB and the BoE will publish their monetary policy decisions on Thursday.
#Mitrade #DollarIndex #YieldCurve #Inflation #Gold #USDJPY #EURUSD #GBPUSD
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EUR/USD⬆️
GBP/USD⬇️
USD/CAD⬆️
AUD/USD⬇️
XAU⬆️
WTI⬇️
On Wednesday, the dollar fell further, hitting new weekly lows against high-yielding peers. With the EU yearly Consumer Price Index rising to 5.1 percent in January, it outperformed expectations of 4.4 percent and 5 percent. A day before the European Central Bank announced its monetary policy, and the reading increased pressure on the central bank to tighten policy.
Government bond yields were near the weekly low.
The GBP/USD pair is nearing a daily high of 1.3587 after Wall Street rebounded from an early sell-off to close in the green. ADP poll showed the private sector lost 301K jobs in January, far more than expected, raising concerns about the country's economic recovery.
AUD/USD is around 0.7140, while USD/CAD is 1.2660. Safe-haven currencies have risen against the dollar.
Gold rose slightly intraday to $1,808 an ounce, while crude oil prices held stable around Tuesday's close. WTI closed at $88.10.
After a sluggish start, US indices rallied. The DJIA gained over 200 points.
The ECB and the BoE will publish their monetary policy decisions on Thursday.
#Mitrade #DollarIndex #YieldCurve #Inflation #Gold #USDJPY #EURUSD #GBPUSD
Find More on Mitrade <<<