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2021-03-26 13:15:14 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.26

On Thursday, the US GDP data was released. The final result was 0.2% higher and amounted to 4.3%, which allowed the dollar index to continue to grow and renew the highs of March 9. In addition, the decline in the number of initial jobless claims strengthened the position of the US dollar. The exception in the foreign exchange market was the sterling, which rose against the dollar amid the start of trade negotiations between the EU and the UK. The market sees this as the beginning of a warming relationship between the two sides. Open / Comment

2021-03-25 12:38:16 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.25

The main Wednesday event was the release of PMI data from IHS Markit. According to preliminary data, Germany’s production rose at a record pace in March, which led to the European economy’s recovery. Purchasing managers' indices from the two largest Eurozone economies – Germany and France – surpassed economists' estimates as orders soared and confidence that quarantine measures would eventually end boosted hiring. In Germany, the survey results are "hinting at the prospect of a better-than-expected economic performance in the first quarter," said Phil Smith, an IHS Markit economist. Open / Comment

2021-03-24 14:54:44 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.24

As a quick resumption of global economic growth came into question again, market sentiment changed. Germany, France, and Italy have expanded restrictions related to the coronavirus pandemic, while other countries are also seeing a sharp increase in the number of infected. The head of the World Health Organization called the recent rise in mortality and morbidity "truly worrying trends." Also, the US National Institute for Infectious Diseases questioned the effectiveness of the vaccine from AstraZeneca, which led to an even more significant fall in stock prices and, as a result, a rise in the dollar across the entire spectrum of the market. Open / Comment

2021-03-23 13:26:56 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.23

On Monday, in the absence of important macroeconomic news, the market stayed calm. The dollar index closed the gap formed at the opening of this week’s trading. The market is still ignoring new measures to prevent the spread of coronavirus in Germany. According to chancellor Angela Merkel’s plan, all stores will be closed for five days from April 1, except for grocery stores, which will open on April 3. People will be asked to stay at home, private meetings will be limited to one household and a maximum of five people, and public meetings will be prohibited. Open / Comment

2021-03-22 13:31:58 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.22

On Monday, at the opening of the Asian session, a small gap was observed. European currencies declined slightly against the dollar due to a new round of tensions between the EU and the UK. The reason was the supply of the vaccine from AstraZeneca, which, according to the European Union, hadn’t been conducted in accordance with the contracts. In this light, the EU warned that vaccines and ingredients produced in European factories would be reserved for local supplies. Meanwhile, hopes for overseas vacations are fading further, and according to the UK minister, summer holidays overseas are "extremely unlikely" this year. Open / Comment

2021-03-19 14:06:51 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.19

On Thursday, the dollar index rose in light of falling stock indices and oil prices. The market overestimated the global economic recovery after starting new quarantine measures in France, causing oil to lose about 10% from March highs. Also, the high-level talks between the United States and China have led nowhere so far. So the trade war may resume after the change of the US president. Investors began to prepare for Black Friday after the Nasdaq 100 plummeted 3.1% and the S&P 500 lost 1.5%. Open / Comment

2021-03-18 17:33:08 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.18

On Wednesday, the dollar index fell after Fed Chairman Jerome Powell said that there was no need to change monetary policy direction in conditions of rising government bond yields. The yield on 2-year US bonds fell to 0.13%. At the same time, the forecast for economic growth was raised. Inflation is expected to rise by 2.4%, the GDP by 6.4%. The unemployment rate will drop to 4.5% this year. The dollar index is still holding above the SMA 100 moving average on the daily chart, indicating an upward bias in the long term. Open / Comment

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2021-03-17 17:32:05 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.17

Quiet trading was observed on Tuesday amid expectations of the Fed meeting results. The dollar index rose slightly, but in the American session returned to the level of the day after the publication of the US retail trade report. According to statistics, total retail sales decreased by 3.0% in February, while the control group’s data decreased even more by 3.5%. However, these negative data were offset by the revision of the January indicators. In January, the retail volume amounted to 7.6%, while a month ago, the preliminary calculation showed 5.3%. Open / Comment

2021-03-16 14:25:01 ​​The Analytical Overview of the Main Currency Pairs on 2021.03.16

Low volatility was observed on Monday due to the absence of an important news background. The dollar index continued to trade in Friday's range, holding above the moving averages on the daily chart. In the American session today, a slight increase in volatility can be expected after the publication of data on retail sales in the United States. The average median forecast indicates a decline in buying activity in February. But given the University of Michigan data, retail sales could be a pleasant surprise for traders. Open / Comment