The US Dollar ticks up, helped by swelling geopolitical concerns. The Greenback appreciates despite a drop in US yields and the Fed’s commitment to cut rates. The US Dollar Index tries for a second day in a row to break out of the March low range.
The intense recovery in the US Dollar keeps the price action in the risk complex depressed, forcing EUR/USD to recede further and put the key support at 1.0800 to the test on Friday.
Persistent buying pressure on the Greenback has pushed GBP/USD to multi-day lows below the 1.2900 level, as investors continue to digest the recent interest rate decisions from both the Fed and the BoE.
USD/JPY falls back as the US Dollar gains on the Fed’s support for a restrictive policy stance. US President Trump’s tariff policies are expected to boost US inflation and weigh on economic growth. Japan’s National CPI cooled down in February.
The combined impact of a stronger US Dollar, continued profit taking, and the effects of Quadruple Witching weighed on Gold, pulling its troy ounce price down to around the pivotal $3,000 level on Friday.
West Texas Intermediate Oil price holds ground for the third successive session, trading around $68.40 per barrel during Asian hours on Friday. Oil prices remain on track for their second consecutive weekly increase, driven by new United States (US) sanctions on Iran.
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US Dollar Index on Wikipedia
The US Dollar Index news can be seriously affected by the decisions taken by these organizations and people:
When I write the Online Trading Academy Forex newsletter, I give my opinion about what I believe is happening to the currencies of the world based on the news I hear, the experts I follow, and my personal experiences of the economic cycles I have seen in the past. This fundamental information helps me understand what reports and indicators the economists of the world believe will shape future events.
Have you watched the US Dollar Index (USDX) Futures contract trade during the day? Do you notice that with each price change the intervals are always a minimum tick of .005? And then at the end of the day when you look at your daily candle of the USDX you see a closing price like 97.197.
Over the last few months especially, there’s been a lot of focus in the world of Currency Trading upon the state of the US Dollar. No matter what your opinion is of the Greenback, it is still, without question, regarded as the world’s primary reserve currency and holds its weight of recognition across the board.
