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2021-04-08 12:11:15 ​​The Analytical Overview of the Main Currency Pairs on 2021.04.08

Quiet trading was observed on Wednesday. The dollar index rose slightly mainly due to the decline in commodity currencies and the sterling. The British currency fell sharply amid reports of problems with the AstraZeneca vaccine. Blood clots after its use continue to be reported, jeopardizing the drug's export and vaccination program to countries that depend on it, including the UK. The final PMI data from IHS Markit disappointed traders a little. The service sector index was below preliminary estimates in the UK and Italy. France, Italy, and Spain are still showing negative dynamics in this sector. Open / Comment

2021-04-07 13:00:50 ​​The Analytical Overview of the Main Currency Pairs on 2021.04.07

On Tuesday, the yield on 2-year US bonds continued to fall, and the dollar index declined after the Secretary of the Treasury Janet Yellen’s statements. The European currency accelerated growth on the back of positive data from Sentix. According to the company's research, the index of investors' expectations for the economic recovery in the Eurozone reached a record level of 34.8. The current situation index jumped to levels last seen before the pandemic. The British currency came under pressure after Boris Johnson's messages about a delay in air travel resumption due to the Covid-19 pandemic. Open / Comment

2021-04-06 13:07:28 ​​The Analytical Overview of the Main Currency Pairs on 2021.04.06

On Monday, the dollar index fell sharply amid messages from US Treasury Secretary Janet Yellen about the need to adhere to a soft monetary policy in the next few years. In her opinion, the $1.9 trillion bill signed last month to combat the US pandemic will not cause inflationary pressures. Also, the Central Bank of China has decided to cap lending to 2020 levels. It caused a drop in Asian stock indices, a rise in the yen, and additional pressure on the US dollar. Open / Comment

2021-04-05 13:42:06 ​​The Analytical Overview of the Main Currency Pairs on 2021.04.05

Important data on the US labor market was released on Friday. NFP numbers came out very high at 916,000, well above the median of 660K. The change in the unemployment rate was in line with the forecast of 6.0 %. In this light, the US dollar rose slightly. Low volatility is due to lower trading volumes ahead of the holiday weekend. Today the market will assess the state of the service sector in the United States, and the volatility in the foreign exchange market may gradually increase. Open / Comment

2021-04-02 14:52:02 ​​The Analytical Overview of the Main Currency Pairs on 2021.04.02

On Thursday, the dollar index fell in light of positive data on the manufacturing sector in Europe. Eurozone PMI rose to 62.5 in March, according to IHS Markit. Preliminary data indicated a rise to 62.4. Later in the American session, a similar index for the US from ISM was published. The US manufacturing sector grew to 64.7, the highest since December 1983. But the market showed little reaction to the data, as there was a decline in trade volumes ahead of the holiday weekend. Markets in the three main financial regions of the US, the Eurozone, and the UK will be partially closed today. So, a decrease in volatility can be observed. Open / Comment

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2021-04-01 14:31:57 ​​The Analytical Overview of the Main Currency Pairs on 2021.04.01

On Wednesday, the dollar index slowed growth and even closed in the red in the light of slightly lower-than-expected ADP data. According to the institute’s research released on Wednesday, the workforce increased by 517,000 in March, and the February figures were revised to 176,000. The median forecast of economists was 550,000. However, it is still a significant hiring rate. Leisure and hospitality accounted for the bulk of the growth, indicating a faster recovery in the labor market. Small and medium-sized businesses showed higher employment growth than large companies in March. Open / Comment

2021-03-31 13:12:52 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.31

On Tuesday, the dollar index rose the most in the past five trading days, as optimism about the US labor market increased. The NFP forecast rose even more to 680,000 after the publication of CBI data. Consumer confidence in the US has reached an annual high in March. According to a Tuesday’s report, the Conference Board Index rose to 109.7, compared to 90.4 in February. It was the sharpest monthly gain in nearly 18 years and beat the most optimistic forecasts in the economists’ survey. In this light, American Treasuries have grown above 1.73%, and the dollar continues to grow. Open / Comment

2021-03-30 12:45:17 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.30

On Monday, the dollar index resumed its growth amid positive expectations for the labor market data. After the announcement of declining initial jobless claims and rising consumer confidence, the median NFP forecast was 643,000 jobs, and the unemployment rate was 0.2% lower. In this light, the yield of American Treasuries reached 1.74%, and their spread with German and British bonds rose to new record levels, which supported the dollar. Open / Comment

2021-03-29 13:50:29 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.29

On Friday, the dollar index fell slightly amid a slowdown in inflation. The price index for the Fed surprised the market a little. The core PCE price index declined by 0.1% to 1.4% on an annualized basis, which slightly eased worries over an imminent monetary tightening. However, other indicators are positive, allowing the dollar to remain bullish. Consumer sentiment indices continue to rise, indicating a recovery in the labor market. Open / Comment