The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback reaches fresh 6-month minimums as Trump woes weigh
On Wednesday, the greenback touched fresh six-month minimums versus a basket of the other crucial currencies because mounting political turmoil in America along with dismal economic data weighed.
The US dollar index, which estimates the US dollar’s value against a trade-weighted basket of six crucial currencies, lost 0.18%, showing 97.92, having touched an overnight minimum of 97.76, the weakest value since November 9.
The index concluded last trading session down 0.81%.
The US dollar found itself under renewed selling pressure, reacting to news that Donald Trump urged currently fired FBI Director James Comey in February to stop an investigation into ex-National Security Adviser Michael Flynn’s relationships with Russia.
Against the Japanese yen, the greenback sagged to one-and-a-half week minimums, with USD/JPY sliding 0.63% to 112.39.
The currency pair EUR/USD showed 1.1096, having ascended to an overnight peak of 1.1122, the most impressive outcome since November 9.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
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