The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
Daily Market Analysis
The US stock market was closed on Monday for Presidents Day, but February is still on track to be the strongest month for the major Wall Street indices since November.
EUR/GBP on track towards fresh nine-month lows. Cable stays on the hunt towards 1.4000 as the dollar keeps more vulnerable for now.
AIG reports its Q4’2020 results after February 16 midnight MT time, with the consensus expected EPS of $0.98.
World shares dipped on Friday as investors awaited progress towards more U.S. fiscal stimulus, while the dollar was set for a weekly loss.
Asian equity markets were subdued in holiday-thinned trade and following a mixed lead from Wall Street.
US stocks are seen edging higher Thursday, continuing the recent strong rally after Fed chief Jerome Powell reaffirmed that the central bank’s monetary policy will remain supportive for some time yet.
Asia-Pac lacked firm direction as risk appetite was sapped by holiday closures for many key markets in the region and following an uninspired handover from the US.
World shares rose to new all-time highs overnight and European indexes strengthened, with market sentiment generally upbeat on the prospect of fiscal stimulus and vaccine rollouts and ahead of a speech by U.S. Federal Reserve Chair Jerome Powell.
The US dollar has seen some heavy fluctuation recently. Although it gained some strength here and there, mostly, it has been going weak against its main peers in the Forex market. Let's check it out.
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