The US dollar weakened significantly, reaching a two-month low despite no changes in US tariffs or progress in Russia-Ukraine peace talks. Friday’s key events include:
US: The US Dollar Index (DXY) fell to around 106.40 due to lower US yields, a stronger Japanese yen, and increased risk appetite. The focus will be on preliminary S&P Global Manufacturing and Services PMIs, Existing Home Sales, the final Michigan Consumer Sentiment reading, and a speech by Fed Governor Jefferson.
EUR\/USD: The Euro rebounded, approaching 1.0500 due to the dollar’s decline. Eurozone data releases include German and Eurozone Manufacturing and Services PMIs, the European Commission’s Winter Forecasts, and a speech by ECB’s Lane.
GBP\/USD: The British Pound rose to levels last seen in early December (around 1.2650) due to dollar weakness and increased risk appetite. UK data includes GfK Consumer Confidence, Retail Sales, flash S&P Global Manufacturing and Services PMIs, and Public Sector Net Borrowing.
USD\/JPY: The Japanese yen’s strength pushed USD\/JPY down to around 149.40, its lowest point since December. Japan’s key Inflation Rate and preliminary Jibun Bank Manufacturing and Services PMIs will be important.
AUD\/USD: The Australian dollar reached a new two-month high above 0.6400 due to the dollar’s decline. Upcoming Australian data includes the RBA’s Monthly CPI Indicator and Construction Done figures (February 26).
Commodities: WTI crude oil prices rose above $73.00 due to supply concerns. Gold prices reached an all-time high above $2,950 per ounce, driven by tariff concerns and the ongoing Russia-Ukraine conflict. Silver prices also rose, exceeding $33.00 per ounce.
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The US dollar weakened significantly, reaching a two-month low despite no changes in US tariffs or progress in Russia-Ukraine peace talks. Friday’s key events include:US: The US Dollar Index (DXY) fell to around 106.40 due to lower US yields, a stronger Japanese yen, and increased risk appetite. The focus will be on preliminary S&P Global …<\/p>\n","protected":false},"author":13,"featured_media":52794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-112149","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=112149"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112149\/revisions"}],"predecessor-version":[{"id":112159,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112149\/revisions\/112159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52794"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=112149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=112149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=112149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}